MBA Or PMP: Which Do You Think is Profitable in 2022?

A common question we might have heard recruiters asking the candidates: Where do you see yourself 5 years from now? And it’s high time we start asking ourselves where we would like to land in 5- or 10-years’ time.

A professional designation such as PMP or MBA certification is supposed to assist us in gaining a competitive edge in our career; hence, it should satisfy the below-given criteria:

• Make you more worthy for the job market
• Must have short and long-term benefits
• Should aid you in earning more.

Any kind of designation you consider must be evaluated based on these points. Ultimately, the answer will depend on your personal career preference, though there are a few facts a professional must consider before making a decision.

An Ocean of MBA Graduates

There was a time when an MBA degree was sporadic, a 2-year graduation degree that not many acquired. Moreover, there weren't many universities or colleges that provided the degree program.

But as the demand for MBA courses sky-rocketed, several education providers started providing short executive MBA courses, making it easier for a working person to get the degree and for those who could afford one.

At present, MBA courses are more surplus than ever before. This is because every college/institution has hoped into the MBA drive. Adding to this, the online education choice looks like an ocean of MBA graduates and courses.

However, is the sector all set for the massive wave of professionals? Apparently not. Professionals realize that their careers are static even after investing thousands of dollars and time to gain an MBA degree.

On the contrary, PMP works according to the industry requirements. Therefore, you get trained in the sector of your choice to fulfill a specific need of the vertical. Indeed, a PMP accreditation helps professionals develop their skills while working in the industry.

Another fact to consider - PMP is relatively a new program, and there aren't many PMP professionals in the job market compared to MBAs.

Stereotyping MBA Programs

MBA degrees are created to develop managers. Therefore, an MBA program can be stereotyped, hardly targeted on a specific vertical or functional field, which is its superior strength. Preferably, an MBA degree can find jobs in any industry vertical.

However, companies, especially technology giants, have recognized that they require more than just managers. They need professionals who understand and work with technologies.

So, what’s the solution that organizations have come upon? Will they hire professionals with a solid technical background and lack leadership and management potential?

The answer to this is the PMP credential, where individuals attain technical knowledge and managerial skills. Professionals with the certification are immediately recognizable to recruiters as someone with actual skills. In addition, the PMP certification training offers specialized expertise that an MBA lacks and has a higher value in the job market.

MBAs Cost a Fortune

How much does an MBA degree cost? Probably worth a king's ransom. A good grade MBA course can cost you around $100,000.

However, when we compare PMP and MBA costs of education, PMP certification turns out to be relatively budget-oriented. The average expense of PMP is $2,000.

Another thing to consider is that MBA takes more educational hours than a PMP certification. Moreover, the average salary of an MBA in the US is $105,684, while that of a PMP is around $112,000.

Once the professionals are done with their PMP training, the certification holders get more handsome remuneration than an MBA holder at 1/50th the price.

The State of the Economy

The last decade has been a white knuckle, and the organizations have been pressurized to evolve for survival. As a result, many companies have become leaner, meaner firms, while those who failed to make changes have fallen out.

That being the case, recruiters are looking for professionals suitable for their company's portfolio, individuals with hard-earned competency who can exhibit leadership in their selected areas. Hence, it's not surprising why organizations recruit PMP-certified project managers these days.

What Do You Think: PMP, MBA, or Both?

Now that you've got an idea of why PMP is more advantageous than an MBA in an organization, the ultimate choice to decide is yours.

But there are few benefits to an MBA that a PMP certification can't match. For example, MBA programs teach business theories and practices that aren't covered in a PMP certification training. Moreover, if you acquire an MBA degree from a reputed college/university, you get access to good networking opportunities.

In contrast, obtaining a PMP credential prepares the candidate for what is known as the rapidly growing profession in the modern world. It needs a professional to have sound work experience, which the accreditation then builds upon. As a result, the certification makes you job-ready.

In the Erewhon world, you should aim for both the credentials, and this is the choice several individuals are making - MBAs are acquiring PMP accreditation and vice versa. Having both is sure to make you an all-rounder in any verticals.

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If you're looking for PMP certification training, explore iCert Global's training courses to aid you prepare for the PMP credential test. Our courses are conducted by certified lecturers and they are designed to help you pass the exam on the first attempt.

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