MP and MBA are dichotomous terms in the Cyber and IT industry, but are often used to insinuate Different concepts. Comparing the two can be likened to comparing apples to oranges, where both exist as quality certifications but serve different goals and needs. Over time, the world of management has seen a meteoric growth, and the amount of opportunities open to aspiring individuals looking to kickstart their business career has grown haphazardly. In the current flow of events in 2021, many enthusiasts are planning to rebuild their career aspects and looking for an affordable certification to rapidly glorify their work prospects. In such a phase, where individuals seek a quicker, more cost-effective and beneficial option, PMP is undoubtedly the right choice. Here, we have justified this stance by giving 5 advantages of a PMP certification over an MBA degree, and simplified the distinction between the two.
What is the difference between MBA and PMP – the basics of both
1. Project management professional certification or PMP Certification –
This is a globally recognised qualification that offers a technical designation in the field that provides a structured and enhanced understanding of the global business and administrative mainframe. It involves a fundamental understanding of the global markets and trends. A PMP certification will-
- Make more suitable for the job market
- Help you earn more, regardless of economic standards, and
- Enable your growth in multiple dimensions.
A PMP certification is designed to enable you to pass the PMP exam, and educates you on the fundamentals of project integration and management.
2. Masters of Business administration or MBA degree –
This is a degree program designed to prepare students to handle all facets of business scenarios. The MBA is both a terminal and a technical degree. Most programs often provide elective classes and concentrations for further research in a certain field, such as accounting, banking, and marketing, or human resource management. An MBA without a PMP degree may not have a skill set that represents the Project Management Body of Knowledge (PMBOK), which is why a PMP degree is great in demand.
Why choose PMP over MBA –
When it comes to PMP and MBA degrees, they are two of the best courses that one can pursue. These two certifications can be very beneficial in terms of the overall growth of a person’s management skills. However, PMP serves more clear-cut advantages than an MBA. Let’s understand why…
1 – From an economical standpoint – Getting noticed by Employers!
Being forced to adapt to situational changes in order to thrive, most organisations have evolved as leaner secors, while those who did not make the transition have vanished. This Darwanian selection has led the top companies to scout talent that can match their company image.PMP certified individuals are definitely in more demand when it comes to employment in the Industry. This is owing to the strong leadership skills and intellect they build as a result of being PMP certified. Since employers scan such abilities and hire a more selective layer of professionals, PMP is a highly desirable course, even more so than an MBA. Additionally, given the fluctuating economic standards of the country, many organizations seek such professionals to tackle the demands of the 2021 business world. Thus, It’s no surprise that most businesses now pursue PMP-certified project managers.
2- PMP is relatively affordable: Timewise and Moneywise!
The expense of an MBA in most recognised universities in the country is very likely more than an average income family can spare. A high quality MBA degree can be quite expensive extending to several lakhs. A PMP certification, on the other hand, is comparatively inexpensive; nearly any working professional can afford it. Moreover, the MBA needs more hours to complete than the PMP. A PMP approved project manager’s annual salary is also greater than an MBA qualified individual. After completing their preparation, the PMP earns the same salary as an MBA at 1/50th the rate, suggesting that Output is larger than input in PMP certifications.
3- PMP covers more detailed aspects of study – MBA is too general
MBA programs are designed to create managers. An MBA’s greatest asset is its ability to be somewhat generic, seldom concentrating on a single sector or practical area. Ideally, an MBA should be able to find jobs in any sector or vertical. Organizations, especially technology companies, have discovered, however, that they need more than just managers. They need managers who understand and apply technology. The PMP certification, which combines technical experience with management abilities, is the answer to this need. Employers immediately consider individuals with PMP certifications as possessing genuine informative and crystal capabilities. PMP qualification preparation offers advanced information that an MBA typically lacks—knowledge that has a higher market value.
4 PMP is a more unique and strategized career path – Advance your career with PMP!
With an increased need for MBA programmes in the past, several institutes started offering shorter executive MBA programs, making it much easier for a working individual to obtain an MBA. Being so common and mainstream, it has actually paved the need for a more strategic and innovative PMP certification. The Industry has so many MBA professionals available that it appreciates someone who can stand out in the crowd. Thus a PMP certification may be more handy as we advance in the Business sphere.
5. A contemporary 2021 certification PMP is the new talk of the town!
PMP operates in accordance with sector requirements and fulfills particular business standards. A PMP qualification allows you to expand on the expertise you’ve already gained when working in the industry. Thus, it is a relatively modern certification that is in great demand owing to its unique and focal framework. With MBA degrees on the run since the 1900s, PMP certifications provide a brand new face to the Organizational sector.
Having PMP accredited, trains you for what is becoming one of the world’s fastest-growing careers.After an existing relevant qualification, a project management professional certification is like a cherry on top!. As a consequence, obtaining a PMP credential qualifies you for a plethora of jobs, and makes you a more well-rounded practitioner