A broader perspective of whether PMP Equivalent to Master’s or not?
There are many differences in the qualifications of a PMP and an MSc. But, if we were to compare them based on certain criteria, then a PMP is more beneficial if you are looking for a job in project management or if you are looking for an increase in salary in your existing job in the field of project management.
There are many different practices associated with the Project Management Professional Certification, but a Master’s Degree is much more detailed and in-depth training.
The PMP is much more theoretical and research-based than the master’s degree. The PMP is longer and doesn’t provide as much job-readiness as the master’s degree. This is because employers value experience more highly than theory, which is also true for PMP certifications.
Comparison between PMP and Master’s in terms of time
Let's compare the time it takes to get a master's degree with the PMP certification. In order to become certified, someone must either have a four-year bachelor’s degree along with 36 months of experience leading projects and 35 hours of PMP education or 60 months of experience leading projects and 35 hours of PMP Certification.
But, on the other hand, for a master's degree, a person needs to have a bachelor's degree. The master's degree takes at least 2 years. Therefore, after at least 6 years, the person would have completed his/her education in project management but he would have no experience in managing real life projects in a company and that would be a disadvantage when he/she sits for an interview.
Comparison between PMP and Master’s in terms of syllabus
Now, let’s compare the syllabus in each of the courses. PMP training is a 35-hour course. Palms-on-the-Head Institute even teaches the guidelines, frameworks and key terms suggested by the PMBOK Guide 6th edition standardised by PMI.
The PMP course of Learning Mudra prepares you for any and all complex projects that you might encounter in your life and also makes you more efficient in handling those processes. It helps students learn to use guidance, frameworks, key terms taught during the course in real life situations.
project management might not be a field that is widely used in the corporate world, but these topics are relevant to the overall knowledge about project management.
Comparison between PMP and Master’s in terms of opportunities
Now let us compare the PMP certificate to the master’s degree. The PMP certificate is globally recognized, valuable and reputable. It provides several advantages over the master's degree, including assurance to employers, peers and stakeholders that you are skilled, knowledgeable and competent in managing projects.
PMP education is an important skill to have in project management. It is a lot more difficult than it seems, with many opportunities that come with it as well. Companies in India are starting to make this program mandatory, which signals the increase of this job market and new projects coming up.
It opens up new avenues for you as well. You can earn a Ph.D. or teach others project management or take up professorial roles. They could also teach at colleges and give their life insights to students and corporate companies by getting more experienced in the field.
Conclusion
PMP and Master of Science in Project Management are very different. A PMP is equivalent to a Master’s whereas a master’s is not equivalent to a PMP. If you aim to get a better job and earn more money, then you should go for PMP training from a premier institute such as Learning Mudra. However, if you want the academic side of project management, then a master’s is the way to go.
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