PMP vs MBA is a question that many young professionals around the world have been asking lately. PMP vs MBA is a question that many young professionals around the world have been asking lately. Although Project management certification and Master of Business Administration are two completely different endeavors, we will go into detail on both topics.
PMP vs MBA
Unlike other certifications that are more streamlined and limit your career to a particular niche, project management certification applies to almost any industry setting. It is considered to be one of the best ways to leverage your personal values and skillset to an organization.
We can’t stress more on the fact that once you find yourself satisfying the requirements, you must consider obtaining a project management certificate. The sentiment is primarily true if your goal is to focus on leadership or management while also having the liberty to work in the industry of your choice.
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The BVOP project management curriculum does not require previous related education or proof of experience. You can obtain the BVOP Certified Project Manager title now. Create an account and you will also get three mock exams. Start here: BVOP.org
Often, despite the clarity, we find ourselves in front of two quite familiar roads- a project management certification or MBA. Which one is better, more lucrative, and fulfilling as a career leap? Well, to avoid any regrets, it is vital to draw a clear comparison between the two and weigh out your options.
To make things easier, we will do that for you. Here is an in-depth guide on the key advantages of a project management certification when compared to an MBA and what your first steps should after you have it figured out. But before we dive in deeper into the deliberation, let’s do a brief on project management certification and MBA, to have a better understanding of what each course really encompasses.
What is a project management certification?
While project management certification is not a requisite for several occupations and corporate positions, it is a justified understanding that the certification is highly heralded by companies and managers in any industry.
Project management certification is the best way to escape the problematic and cumbersome struggles of advancing your career. If you have the certification is instantly reinforces your value for any industry.
The intention behind project management certification is to manifest a common standard of project managers that spans across all niches or occupations. Once you successfully obtain a project management certification, you can easily prove your dedication and dexterity to a potential employer.
The list includes PMP, BVOP, IPMA PRINCE2, PMI-ACP, PPMC and more.
What is MBA?
Master of Business Administration is a more basic graduate degree, where you learn technical, managerial, and leadership qualities. But there is a loophole in all the glitter and the career advancement.
Yes, MBA opens up channels where you can climb the professional ladder, but is it as reliable as project management? That’s a definite no. Especially considering the current standing of all industry MBA has lost the luster it once boasted about. It has become a questionable investment, a risk for many.
There are a lot of facts that can confirm the sentiment. In the next section, we discuss why and how project management certification is unquestionably more lucrative than MBA. See more at MBA.com
What can you do to improve your project management skills?
It is undeniably true that a project management certification is one of the robust channels to enhance your career prospects. Apart from obtaining the certification, you can try a few tips for the most efficient career advancement.
- As a project manager, you should develop cognizance of your strengths, and you should be able to state them in relevant situations accurately. You should also note your weaker points and spend time fixing the inconsistencies.
- It is essential to maintain transparency in your communication as a project manager. Failure to maintain a crisp and clear communication leads to a downfall for many project managers in different industries.
- Often you will need agility to meet project management requirements. It is better to break a large project into small chunk and prioritize each sub-goal based on the importance.
If you are hoping to catapult on your professional growth, you need an intelligent, fast-paced, and reliable solution such a project management certification. The program will help you integrate technical input and convert your soft skill into a hard asset in the industry of your choice.
The ultimate comparison – Project management certification vs. MBA
While it is easy to differentiate between the two qualifications is easy, but comparing project management certification with MBA is quite an atypical endeavor. Choosing between the two programs can get confusing if you are not aware of the true facts.
When you consider the current industry standards, demands, and popular skill sets, you will get a clear winner. In the following section, we will help you make an informed decision to make things more seamless and mitigate potential regrets in the future.
It is hard to overlook the fact that the overall population of MBA graduates is relatively higher than individuals to have obtained a project management certification.
In line with that sentiment, there is more competition for potential employees but an accessible and easy pool for potential employers. By saying that we are not discriminating MBA as a course, when in fact, you want a more expansive option, MBA might be your best bet. However, statistics show that only 7 percent of MBA graduates can land high paying, while the rest hustle and grind in the competition.
These scenarios change entirely with a project management certification; there are fewer individuals who have obtained the certification, which means more demand, less competition, and higher chances of landing a well-paying position. While receiving a project management training is taught in a vertical with what you choose so that you can meet the requirements of a particular industry.
There is always a specific set of skill sets that you might want to develop, and the same is true for what niche or industry you choose. Both project management certification and MBA offer a particular and distinct set of hard skills. However, it is quite apparent that an MBA program is more about developing managers, which is one of the most significant advantages to such a course.
With an MBA degree, you can climb the vertical in any industry if you are unsure from the get-go. But there is a definite downside to this aspect as well- specific niches such as the tech industry consider individuals with project management certification more eligible to work as managers. And there is a good reason for that.
Industries like technology want managers who know and understand the niche well, with the generalized skillset, MBA provides that is relatively impossible. Project managers with the PMP certification have a very specific but vast knowledge, which gives them an edge over the other courses.
The key to the increased demand is that project management certification is designed to combine managerial skills and skills needed by a specific industry. This is another aspect where MBA fails to stand above the instant identification a PMP offers.
Cost is a definite consideration when you are comparing project management certification and MBA. The cost-benefit analysis is pretty easy to draw due to the apparent gap between the two programs in this context. Most MBA programs vary in terms of the cost factor, depending on the reputation of the institution that is offering it.
Completing an MBA degree from a well-recognized institution can seriously break your wallet. So then, is it still worth the expense. The answer to that dilemma depends on what your goals are. If you want a broader option without specializing in any, MBA can be the right choice for you.
Taking about project management certification, the cost of training and the overall expense is relatively cheaper than the MBA. Another noteworthy point is that project management certification takes less time, and, in any profession, time IS money!
Current industry trends and economy
With so many economic changes and perspective evolution, many industries have a more upgraded standard that asks for specific specialization and skills.
Companies that have failed to adapt to these changes have tumbled down the roller coaster ride, while those that understood the trends and accepted them into their system have bloomed significantly.
Due to these patterns, industries are looking for individuals who can satisfy specific needs; there is an influx in the value of managers with technical skills. When compared, project management certification stands at a higher hierarchy.
The middle ground
While earlier choosing between project management certification and MBA was a difficult choice, we hope the comparison has made it easier for you to make an informed decision. Both programs have apparent advantages and disadvantages. It is up to you to choose the one the suits your skills, goals, and pace better.
By taking up an MBA course, you will learn individual business ethics and practices that are not taught in project management certification training. Moreover, if you can complete an MBA from a reputed institution, there are a lot of opportunities for you in almost all industry types. Whereas, obtaining a project management certification is one of the reliable and quick ways of career advancement.
The substantial experience of working on different projects makes a PMP an enticing qualification for several companies that value strong leadership skills and vast knowledge in a specific niche. As a result, a project management certification readily prepares you to take up job offers by bolstering your resume. In another realm, several individuals are taking both programs- MBA supplemented with a project management certification, which more of an ideal scenario.