Why Getting Certified During Unemployment Can Boost Your Project Management Career

If you’re a project manager currently facing unemployment, the situation can be challenging, both financially and emotionally. However, this time can also present an opportunity to invest in yourself and your career by pursuing a project management certification.

While the initial cost might seem daunting, especially when funds are tight, the long-term benefits can far outweigh the expense. A certification can be more than just a credential—it’s an investment that boosts your skillset, broadens your expertise, and opens doors to new career opportunities.

One significant advantage of earning a certification during a period of unemployment is the potential impact it can have on your future compensation.

Certified project managers often command higher salaries compared to their non-certified peers. For example, according to PMI’s Salary Survey, project managers with the Project Management Professional (PMP) certification earn an average of 16% more than those without it. This bump in earning potential can quickly offset the cost of obtaining the certification, making it a smart move for those looking to enhance their future financial prospects.

Including metrics and return on investment (ROI) details can strengthen the argument for pursuing a certification during unemployment. Here are some key statistics and ROI insights you could incorporate:

1. Salary Increase Potential: According to PMI’s Earning Power: Project Management Salary Survey, professionals with the PMP certification earn an average of 16% more globally than those without it. If a typical project manager’s salary is around $90,000 annually, a 16% increase equates to approximately $14,400 more per year. With a PMP certification cost of around $550 to $600 (for PMI members), you could potentially recover that cost within the first few months of securing a higher-paying job.

   
   

2. Certification Payback Period: If you invest around $600 for a PMP certification and secure a job offering even a $5,000 annual salary bump, your payback period would be just a few months. After this, every additional dollar earned is essentially a return on your initial investment.

   
   

3. Competitive Advantage in Job Searches: A recent report from Burning Glass Technologies found that nearly 22% of project management job postings specifically require or prefer PMP certification. With this credential, you position yourself among a smaller, more competitive pool of candidates, improving your odds of landing interviews faster and shortening your job search time.

   
   

4. Increased Job Stability: Certified project managers often enjoy greater job stability. According to the PMI Pulse of the Profession report, organizations that value and prioritize project management certifications report 28% more successful project outcomes, reducing turnover and increasing job retention for certified professionals.

   
   

5. Lower Risk, Higher Reward: The cost of certification might seem steep during unemployment, but it’s a lower risk when considering the potential returns. The PMP certification, for example, is valid for three years and can be renewed for a relatively low cost. Over the long term, this single investment can continue to yield higher earnings and more job opportunities over the span of your career.

These metrics highlight how the cost of a certification is often outweighed by the potential salary increase, shorter job search time, and greater long-term career stability. Even in tough times, strategic investments in your professional development can lead to significant returns.

In today’s competitive job market, standing out amongst other applicants is crucial.

Many employers prioritize candidates with recognized certifications because it’s a clear indication of both your knowledge and commitment to continuous improvement.

When recruiters see a recent certification on your resume, it not only highlights your expertise but also demonstrates that you’ve been proactive in maintaining and advancing your skills, even during periods of unemployment. This level of dedication and resilience can set you apart and make you a more attractive candidate.

Pursuing a certification can also help rebuild your confidence during a tough time.

The process of studying, passing an exam, and earning a credential can provide a sense of accomplishment and purpose. It’s a reminder that you’re actively taking control of your career, regardless of the current challenges.

As you work toward certification, you’ll gain new insights, expand your professional network, and be better prepared to re-enter the job market stronger than before.

Investing in yourself when times are tough can be the key to unlocking better opportunities down the road.

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About the Author

Lori Schoenhard is the Founder and Principal of Athena Project Consulting, LLC.

Lori possess two decades of IT leadership expertise, building and leading Project Management Offices (PMO), managing complex global enterprise programs across cross-functional teams, spearheading change management initiatives, and providing coaching to program and project managers. She has worked with Fortune 500 companies, SaaS companies, digital agencies, and SMBs to deliver impactful results.

Lori holds several project management and industry certifications: PMP, CSM, CSPO, SAFe, ITIL. Lori holds a Masters Degree from Boston University in Computer Information Systems and IT Project Management.