How much does it cost to get certified?

I have had several conversations lately which all come back to one question, how much should somebody pay to gain professional certification?

It depends! 

Not so much on the certification but the value it will bring, which depends on your personal circumstances, especially whether you are in work or not in work.

There are a multitude of opinion pieces that compare the cost of MBA programmes to the starting salary of an MBA graduate.  Many articles highlight that the cost of obtaining an MBA can often be more than a full year’s salary.  This Forbes article makes a strong case against the value of an MBA; ‘Is an MBA worth it after Covid-19 – Absolutely not’. Quite a claim!

I prefer to think that all education is good and regardless of your starting point, continuous learning is absolutely crucial – and, on this point, Forbes agrees with me.  Although this article 'An MBA Is Still Relevant, But A Certification Can Provide Differentiation' was written pre-Covid it clearly outlines the positive differential that certifications can provide towards your professional development.

The World Economic Forum also agrees that certifications are worth investing in, predicting that those who continuously learn will be the ones to succeed in the future "Companies and educational institutions can lead the way in helping to create a more inclusive future by transitioning from traditional models and coming together to inspire perpetual learning. Not only can we prepare people with the right skills and help them participate in the digital economy, but we can collectively help ensure that no one is left behind".

So I think we can all agree that certifications are worth investing in.

An HR Colleague suggested the minimum increase in salary necessary to motivate someone to leave one job and go to another is around $7,000 (assuming people are on the median wage).  However, the average salary increase for an employee who acquires a new job is between 10% to 20% according to Cameron Keng.

The recruitment portal INDEED reports that although people may not be focused wholly on a pay increase per se, what they want is that “their salary provides enough money for the bills and then treats on top”.

Considering these points it is likely that a professional certification will either allow you to enhance the salary with your current employer, enable you to explore a new career path or allow you to stand out from the crowd when seeking new employment.  Whatever the case, the likelihood is you will be upwards of $7,000 (£5,000) a year better off by investing in a certification. 

In this VUCA (Volatile, Uncertain, Complex and Ambiguous) world, a return on investment (ROI) longer than 6 months may never materialise (think long term education).  In my opinion, an ROI within a 6 month period (think short-term professional certifications) seems to be a good idea – ie even if you spend up to $3,500 to gain a relevant professional qualification, it is very likely you will quickly recover your investment.

It’s not as easy as that!

Gaining a qualification is totally dependent on you.  Three things are required:-

1. The motivation to get the qualification
2. The knowledge and competence needed to achieve the standard required for the qualification
3. A course that suits your preferred method of learning.

The vast majority of professional certifications are supported by training courses.  These training courses are usually delivered through 3 formats (or a blend of delivery options):-

1. Classroom (physically)
2. Classroom (virtually)
3. Online self-paced learning

Note - There is also the option of self-study (no training involved)

Take a look at this at-a-glance chart below for broad pricing estimations;

To take a week to gain a professional certification (assuming you have the experience relevant to the specific certification) is likely to cost you less than 6 months of an enhanced salary reward. 

It’s your future, why not invest in it.