Advantages of PMP over MBA

What is PMP? 

PMP certification is a globally accepted course for imparting quality training to individuals. It equips you with the basics of project management and prepares you for future jobs. In addition, a PMP certification is essential if you want to become a project manager.

The Project Management Institute handles PMP certifications and ensures its functioning. So, if you want to enhance your career in project management, it will help you a lot. Further, there are several domains that teach about business management. You will learn all of them and take an exam. If you pass it, you will become a PMP professional.

The study course of PMP involves the Project Management Body of Knowledge or PMBOK. It is a study guide for the PMP exam. Anyone wishing to appear for the exam needs to be thorough with the book. So, you can treat the PMBOK as the official study guide for the PMP exam.

PMP certification

The PMP certification will test your skills regarding various aspects of project management. In essence, you need to learn thoroughly about project management principles. Starting from project initiation to project execution, PMP certification will cover everything.

Project monitoring and project controlling form an important part of the PMP certification test. You will learn the basics as well as the important concepts of project management. PMP is the basic examination for anyone wishing to become a project manager.

Prerequisites of PMP certification

You need to have a high school diploma degree or an associate’s degree.

On top of that, a PMP certification requires you to have 7,500 hours of experience in managing projects.

If you don’t have 7,500 hours of experience, you need to substitute that for 35 hours of management course.

In addition, you need a regular degree in management.

However, if you have a 4-years degree, you need to have 4,500 hours of experience.

PMP certification exam

The PMP certification exam is relatively easy. However, you need to prepare well for it. You need to answer 200 Multiple Choice Questions. Although all the questions are important, 25 of them don’t add to the marks. You can answer those 25 questions for weightage.

There are many sample questions that will help you understand the exam pattern. You can get them at the official site of the PMI or can download them online. Going through study guides will also help you go through the exam. PMBOK is the most important study material for the PMP certification exam.

Exam pattern

From the 200 questions, 75% questions need to be correct. You need to get the minimum pass percentage to get the certification. It is not an open book test, so you need to prepare well for it. There will be no use of calculators during the test. Therefore, you need to practice well for the exam.

What is an MBA? 

An MBA program will teach you the primary concepts of accounting, management, business studies, marketing, and business law. Also, it will make you aware of the business environments around the world. Moreover, you will focus on business planning, leadership, and business strategy. In essence, it is meant for future business leaders who want to make an impact with their managerial skills.

In essence, an MBA degree is a master’s in all the fundamentals of business management. Most universities provide MBA courses. There are millions of MBA graduates around the world. To get into an MBA course, you need to give an entrance exam. The entrance exam varies with the university. Some universities require you to score a high percentile in their exam. On the other hand, in several universities, you will get admission by simply passing the exam.

Prerequisites of MBA course

You need a bachelor’s degree in any stream. It is one of the biggest advantages of an MBA. No matter which stream you are from, you can apply for an MBA. An MBA course lasts for two years. You need to pass several exams during those two years to finally get your certificate.

Advantages of PMP over MBA

There are several advantages of PMP over MBA. Here are some reasons why a PMP certification will be more beneficial than an MBA.

PMP saves time

An MBA course is of 2 years. You need to set aside time from your job and higher studies to pursue an MBA. The same is not true for PMP. Moreover, you don’t have to stop what you are doing to pursue PMP. A PMP certification usually takes 3-5 months. It is a very short duration in comparison to an MBA. You can save a lot of time with a PMP certification and use it for other studies.

Almost everyone has an MBA

In the USA alone, every one in three persons is an MBA graduate. The high number of MBA professionals makes it difficult for you to secure a job. On the other hand, PMP has few professionals. PMP will let you apply for jobs that are industry-specific. Moreover, it is a new certification and there are few PMP professionals out there.

MBA has a general course

If you want to excel at your job, you need to possess special skills. An MBA will only teach you general concepts of business management. If you want to learn specific skills, you need to do additional courses. On the other hand, PMP certification will teach you technical skills. You will learn project management in detail.

PMP is cost-effective

The average fee for an MBA degree is $100,000. That’s a very large amount and is almost equal to the salary of a PMP professional. On the other hand, a PMP certification is cheaper. It costs around $2000 even after adding re-examination costs. The difference in fees is one of the reasons why a PMP certification is better than an MBA. PMP certification will also give you a bigger ROI. The salaries of PMP professionals usually are in six figures.

PMP offers job security

There is a significant demand for PMP professionals. As there are few PMP professionals, companies are readily agreeing to pay more for them. On the other hand, an MBA certificate will not give you the same job security. There will always be a fear about losing your job. In addition, you will gain expertise through a PMP certification. The expertise is not possible through an MBA.

In conclusion, a PMP certificate will be valuable for you in the long run. It will add value to your resume and make you job-ready. Moreover, you will learn all the essential skills of project management. As a result, you will increase the rate of your project becoming successful.