Don’t worry! We will give you all the necessary details of both the courses so that you can eventually decide which is the best certification course that you must go for!
If you are already in the project management field, then you might be thinking about the steps to be taken in order to become a successful project manager. Well, in our opinion both the PRINCE2 certification course and PMP-PMI certification course are highly reputed and good. Both the certifications represent that an individual has expertise in the key concepts of project management, and he/ she knows how to apply them in the project management lifecycle.
So, here arises a question, i.e., which is the right course for you? Well, it is not an easy decision, but we will help you figure it out by the end of the article!
Key Differences Between PRINCE2 & PMI
Both PRINCE2 and PMI® certifications involve two distinct kinds of project management frameworks. Both the certification courses offer knowledge and a proven approach to managing projects effectively in the company.
If you are confused in choosing between the two, then the first thing to do is pick a company you are focused on building a career in. Then, decide the type of project that you are willing to direct and work on.
It is important to note that both the courses are equal in value but are different in aspects. Let us discuss these two certification courses in detail.
PMP® Certification by PMI
PMP is one of the highly regarded certification courses in project management. This certification is offered by PMI® (Project Management Institute). This certification course covers many project management techniques that are important for a project manager to get better job opportunities and high-paid salaries. To gain the PMP® certification, a candidate must attempt the exam and excel in it to become a successful project manager.
PRINCE2 Certification
The PRINCE2® course is method-based and offers a systematic approach to delivering the project on time. This certification is primarily based on processes and projects. This certification is a high-level credential that includes project management principles. The course teaches the roles and responsibilities of each member of the team to manage and complete the project.
Candidates can work on several projects and learn to make stage plans and team plans to eliminate the risks, thereby making it easier to complete the projects on time.
Industrial Demands
There are different industrial demands for PMP-PMI® professionals and PRINCE2 professionals. Let us look at it in detail.
1. PMP Professionals
The PMP certification is highly reputed. Many industries prefer PMP professionals as they are considered to have expertise in various project management tools and techniques to make the company reach new heights.
It is important to note that PMP certification is preferred in the US, Canada, Australia, and the Middle East.
2. PRINCE2 Certification
The PRINCE2 certification course is also a high-level credential. PRINCE2 method is valid in the UK, Europe, and Australia.
There is no difference in the value of credentials as candidates seeking either of these courses are said to possess expertise in project management. They undertake the planning, direction, analysis, and completion of the project, thereby maintaining its quality.
Salary Prospects
The salary prospects are slightly different in the case of PMP professionals and PRINCE2 professionals. Many studies have shown that certified project management professionals earn higher than non-certified ones.
If an individual takes up a project management certification like PRINCE2 or PMP, then it signifies that the person has universal knowledge of project management. According to salary statistics, it is seen that a person with a certified project management course earns 20% higher than the non-certified one.
The salary of a PMP professional is $112,000 per annum. On the other hand, the salary of a PRINCE2 professional is $130,000. There is a slight difference in the salary, but the courses are equal in value.
Now, here we can consider two factors, i.e., salary by gender and salary by industry.
i. Salary by Gender
The PMP professionals (males) earn around $116,000 per annum. On the other hand, the PMP professionals (females) earn around $105,000 per annum. The salary of a female counterpart is less in this case.
The salary of a PRINCE2 certified professional (males) is $90,000, while a woman professional earns $77,000.
The salary increases based on training and experience one has gained.
ii. Salary by Industry
As per the PMI survey, both PMP and PRINCE2 certified professionals earn around $130,000. There might be a slight difference. But other than this, there is no difference between the courses.
Benefits of PRINCE2® Certification
1. Extensive Body of Knowledge
The PRINCE2® certification course is an extensive body of knowledge that includes tools to analyze the projects from every angle. Other factors like the requirement of the user and potential risks are taken into consideration to address the planning stage of the project that has begun.
2. Well layout of methodology
A lot of time, effort, and resources are saved when the project managers come towards the completion of the projects. The certification has a laid-out methodology that helps in undertaking the processes of projects.
3. Standardization
There are times when certain confusion arises in the execution of the project. That is why in the PRINCE2 certification course, the candidates learn about the process of documentation, conventional filing system, etc., so that the project is completed without delay.
4. High Salary
With PRINCE2 certification, one has better chances of getting high salaries in countries like the UK, Australia, etc. This certification proves that you have skills and the company hiring you might just give you a pay raise depending upon your skills and abilities.
Benefits of PMP-PMI® Certification
1. Better Employment
PMP is one of the most popular courses and is trusted and recognized worldwide. If you decide to do this course, you can apply for a job in any part of the world with this certification.
2. Improved Salary
Certified professionals in project management get better salaries as compared to non-certified ones. Certified PMP professionals get more pay raises and opportunities, unlike others.
3. Networking Opportunities
To gain the PMP certification, one needs to become a member of the Project Management Institute. Candidates can get to know influential people and get a chance to work with them. This enhances the network opportunities. Such opportunities can help you land top positions and high-paid jobs.
So, this is all the information regarding the PRINCE2 certification course and PMP® certification. Both the courses are equal in terms of value and the salary is the same. It is important to know that to gain the PRINCE2 certification, there are no prerequisites. But for PMP® certification, one must have a high school diploma along with 4500 hours of leading projects. Along with this, the candidates must also complete 35 hours of project management education.
Conclusion
We have given you the reasons to decide upon which certification course is the best for you! Deeply analyze these points and decide further. The courses will help one gain project management skills to work on different projects and scenarios. A person who aspires to become a project manager can advance his/ her project management career with this course. So, what are you waiting for? Apply today and enjoy the benefits of being a Project Manager!
