PMP certification has turned out to be a wide-spreading industry and is not restricted to only one domain. This is a globally recognized sector that helps the certified professionals to come up to the demands of various projects and management of man-force to lead a project in a budgeted way. Other than providing professional knowledge, it gives a significant boost to your economic status by opening doors for higher salaries.
It is definitely not a cheap certification but the PMP® certification cost is worth the benefits it offers in the future. Other than the cost of the certification exam, there are other factors including the preparation and the scheduling and re-scheduling cost that one must consider. The detailed breakdown of the cost of certification is mentioned below:
The cost for taking up the examination remains the same irrespective of the place from where you are taking the examination. This cost is charged in US dollars by the PMI (Project Management Institutes). If you have taken a PMI membership you will have to pay a discounted fee of $405 whereas, the fee for the non-members is $555.
Also, for the re-examination, the fee structure is different for the members and the non-members. It is $275 and $375 respectively.
PMI Membership Fee
Availing the PMI membership has many perks of its own. You can get the relaxation in the examination and the re-examination fee and also, the preparatory book PMBOK is available to the members at no cost. The membership fee for the PMI is $129 along with the one-time charges of $10. The membership fee varies as per your category.
- For Students
If you are a student and want to take up the membership then you must have enrolled yourself in a full-time degree that provides a program at any college that is globally equivalent to U.S. accreditation. The fee for the student is $32.
- For Retiree
The retirees those who wish to take the membership should have been active PMI member for more than five years and also should have taken part in the active employment. The fee for the retiree taking a membership is $65.
This fee structure that described requires the payment of one-time charges of $10 that is mandatory and need not be paid again at the time of renewal.
Other than the examination fee there are other aspects as well that one must consider:
- Membership Renewal
This membership with PMI needs renewal with every coming year and the charges for the renewal are $119 for one year. In case you want to rejoin as a member after the expiration of the membership you will be considered as a new member and will have to pay the entire fee again.
- Training Fee
If you are interested in taking online training in Noida you will have to pay INR 8,669 to INR 27,832. And the other form of preparation that can be taken by a professional in the classroom training which can range from INR 6,299 to INR 12,999. This classroom training will help you in earning the required minimum of 35 PMP® renewal PDUs.
The other cost includes the membership cost for the PMI North India Chapter is $12. Also, there are charges for PMI membership fee including the joining fee and that is $139.
- Additional Studies
Other than the examination and training fee there are some other factors that increase the expense of the certification which include the extra-studies. There are various modes from where you can take the guidance for the examination that includes online courses, instructor-led training, and the classroom courses.
The charges for the various modes of courses are different. Online courses are the cheaper courses and can cost you to a maximum of $500. The instructor-led courses can range from $ 1,000 to $ 2,000. Classroom courses may range from $ 200 to $ 2,500.
- Extra Studies
The entire information required for qualifying the examination lies in the PMBOK. This book is available to the members of the PMI at extremely no cost. And for the non-members, the book is available at $50 on Amazon. For the students who want to have an in-depth knowledge of the content and aim mat higher grades can take up extra-books for gaining extra knowledge. These extra books may cost from $ 40 to $ 100. For those who want to take up the practice tests available on the online platform, the cost maybe $60 to $100.
- Renewal of PMP Certification
The certification for the PMP needs renewal every three times and have a different fee for PMI members and non-members. The members are charged at $ 60 and the non-members have to pay $150 for renewal of certification.
Factors to be Considered before Taking up Classroom Training
The aspects that must be considered before taking with the certification are:
- Complete and detailed knowledge of the criteria for taking up the certification program.
- To make a detailed survey regarding the pros and cons of various modes available for preparation before choosing anyone.
- To make sure that the approach towards the studies is capable enough to help you score and attain the certification in the first go.
- Creation of the preparation schedule as suggested by the trainee.
- Also, you must thoroughly go through the checklist provided to you regarding the study material that you must follow for the preparation of the examination.
Although, as mentioned above the cost of taking up the certification not only includes the certification exams course and the additional charges included, but the perks of attaining the certification are many. A certified professional is capable enough to earn higher salaries and attain global recognition. Other than this, the experience and knowledge taken during the taking up of the examination can be used efficiently for solving tricky projects and managing the team in the same way. The cost of PMP certification will definitely prove to be value for money.