The Society for Human Resource Management (SHRM) offers two primary certifications: the SHRM Certified Professional (SHRM-CP) and the SHRM Senior Certified Professional (SHRM-SCP).
Each certification has its own associated costs, which can vary based on several factors including membership status, exam timing, and additional materials required for preparation.
Obtaining an SHRM certification is a significant investment in an HR professional’s career development.
Understanding the costs associated with both the SHRM-CP and SHRM-SCP certifications—including exam fees and additional expenses—can help candidates make informed decisions about their path forward.
Furthermore, effective preparation through self-study or instructor-led courses is vital to achieving success on these important exams.
Below, we will break down the costs associated with each certification exam and explore additional expenses that candidates may incur.
Learn: What Is the Difference Between SHRM-CP and SCP?
Cost of SHRM-CP Certification
Exam Fees
The SHRM-CP certification is designed for HR professionals who implement policies and strategies and serve as a point of contact for staff and stakeholders. The exam fees for the SHRM-CP are structured as follows:
- Early-Bird Exam Fee: $335 for SHRM members, $435 for non-members.
- Standard Exam Fee: $410 for SHRM members, $510 for non-members.
- Student Exam Fee: $149 for student members, $209 for non-member students.
- Military Exam Fee: $270 for both military members and non-members.
These fees cover the cost of taking the exam but do not include other potential costs such as preparation materials or retake fees.
Additional Costs
In addition to the exam fees, candidates should consider several other expenses:
- Preparation Materials: The SHRM Learning System, a comprehensive study resource, costs approximately $795 for military and SHRM members and up to $1,025 for non-members.
- Membership Fees: Joining SHRM can provide discounts on exam fees. Membership typically costs around $200 annually.
- Technology Requirements: Candidates opting for remote proctoring need to ensure they have a reliable computer and internet connection.
- Travel Expenses: If taking the exam at a testing center, candidates may incur travel costs depending on their location.
Overall, the total investment for obtaining the SHRM-CP certification can range from approximately $1,000 to $1,500 when considering all associated costs.
Read more: SHRM-CP Certification Cost
Cost of SHRM-SCP Certification
Exam Fees
The SHRM-SCP certification is aimed at senior HR professionals who develop strategies and lead HR functions. The fee structure is similar to that of the SHRM-CP:
- Early-Bird Exam Fee: $335 for SHRM members, $435 for non-members.
- Standard Exam Fee: $410 for SHRM members, $510 for non-members.
- Student Exam Fee: $149 for student members, $209 for non-member students.
- Military Exam Fee: $270 for both military members and non-members.
As with the SHRM-CP, these fees are exclusive of preparation materials or retake fees.
Additional Costs
Similar to the SHRM-CP certification, candidates pursuing the SHRM-SCP should anticipate additional expenses:
- Preparation Materials: The cost of study materials remains consistent with those required for the SHRM-CP certification.
- Membership Fees: Membership in SHRM can again provide financial benefits regarding exam fees.
- Technology Requirements: Candidates must ensure they meet the technical requirements if opting for remote testing.
- Travel Expenses: If attending a testing center in person, travel costs may apply.
Thus, candidates can expect their total investment in obtaining the SHRM-SCP certification to also range between approximately $1,000 and $1,500.
Related post: What is SHRM-SCP?
Preparing for the SHRM Exams
Preparation is crucial to successfully passing either the SHRM-CP or SHRM-SCP exams. Candidates have various options available to them depending on their learning preferences and budget constraints.
How to Prepare for the SHRM-CP Exam
Self-Study Preparation
For candidates who prefer studying independently, utilizing the SHRM Learning System is highly recommended. This system includes:
- Comprehensive Study Materials: The learning system covers all necessary topics outlined in the SHRM Body of Skills & Knowledge (SHRM BASK).
- Practice Questions: Prepsaret’s SHRM-CP Test Prep offers practice exams that help familiarize candidates with the format and types of questions they will encounter.
- Flexible Study Options: The materials can be accessed online, allowing candidates to study at their own pace.
Candidates should allocate sufficient time each week leading up to their exam date to ensure they cover all material thoroughly.
Instructor-Led Preparation
For those who thrive in a structured environment:
- Instructor-Led Courses: These courses are available both in-person and online through various providers. They offer direct interaction with experienced instructors who can clarify complex topics.
- Peer Interaction: Engaging with fellow candidates can enhance understanding through discussion and shared insights.
- Scheduled Learning: Courses often follow a set schedule that helps keep candidates accountable in their study efforts.
Choosing this method may involve higher costs but can significantly improve success rates on the exam.
How to Prepare for the SHRM-SCP Exam
Self-Study Preparation
Similar to preparing for the SHRM-CP:
- Utilize the SHRM Learning System: This resource remains essential as it provides comprehensive coverage of advanced HR topics relevant to strategic roles.
- Focused Practice Questions: Prepsaret SHRM-SCP Test Prep provides candidates with practice questions which focus on situational judgment items that assess decision-making skills in realistic scenarios.
- Time Management Strategies: Candidates should practice managing their time effectively during study sessions to simulate exam conditions.
Instructor-Led Preparation
For those opting for guided learning:
- Advanced Instructor-Led Courses: These courses delve deeper into strategic HR concepts and prepare candidates specifically for higher-level responsibilities assessed in the exam.
- Networking Opportunities: Engaging with other HR professionals during these courses can provide valuable insights into real-world applications of strategic HR practices.
- Exam Strategy Sessions: Many courses include specific strategies on how to approach different types of questions effectively.
Continue reading: What is the Best Way to Prepare for the SHRM?
SHRM Certification Cost vs Other HR Certifications
Potential candidates often weigh the costs of the SHRM certifications against other HR certifications, such as the Professional in Human Resources (PHR) or the Senior Professional in Human Resources (SPHR) offered by the HR Certification Institute (HRCI).
The cost of SHRM certifications typically ranges from $335 to $510 for members and non-members, respectively. In comparison, HRCI’s PHR and SPHR exams cost between $395 and $495, depending on membership status.
While both organizations provide valuable credentials, SHRM certifications are often regarded as more contemporary due to their alignment with current HR practices and competencies.
Additionally, SHRM offers extensive resources through its membership, which can offset some costs.
Moreover, candidates should consider the long-term value of these certifications.
While initial costs may vary slightly, the recognition and credibility of SHRM certifications in the HR field can lead to better job opportunities and higher salaries over time.
Therefore, when evaluating certification options, it’s essential to consider not just upfront costs but also potential career benefits and industry recognition.
Financial Assistance and Support Options
The cost of obtaining SHRM certification can be a barrier for many candidates. However, several financial assistance options are available to help alleviate these costs.
Scholarships
SHRM offers various scholarships through its foundation aimed at supporting HR professionals at different stages in their careers. These scholarships can cover exam fees or provide access to study materials.
Find out: How Do I Get SHRM Scholarship?
Grants
In addition to scholarships, grants are available for those seeking financial assistance for certification expenses. Candidates should explore options through SHRM or other organizations such as National Human Resources Association (NHRA) that offer grants specifically for HR professionals.
Employer Reimbursement
Many employers recognize the value of professional development and may offer reimbursement programs for employees pursuing certification. It’s advisable for candidates to discuss potential employer-sponsored programs that could cover part or all of their certification costs.
Payment Plans
Some training providers offer flexible payment plans that allow candidates to spread out their certification expenses over time. This option can make it easier to manage costs without a significant upfront investment.
Financial Aid Programs
Candidates should also look into financial aid programs that may be available through educational institutions or industry organizations. Understanding eligibility criteria and application processes can help secure necessary funding.
By exploring these financial support options, candidates can make pursuing SHRM certification more financially feasible.
Tips on Budgeting and Saving for SHRM
Successfully budgeting for SHRM certification requires careful planning and strategic financial management. Here are some effective tips to help candidates save money:
Create a Detailed Budget Plan
Start by outlining your current income and expenses. Identify how much you need to allocate towards certification costs, including exam fees, study materials, and any additional expenses like travel or membership fees.
Cut Unnecessary Expenses
Review your monthly spending habits and identify areas where you can temporarily reduce expenses. This might include dining out less frequently or canceling subscriptions that aren’t essential. Redirect these funds toward your certification savings.
Set Realistic Savings Goals
Establish achievable savings targets each month leading up to your exam date. Even small contributions can accumulate over time, making it easier to reach your total goal without feeling overwhelmed.
Explore Low-Cost Study Resources
Utilize free or low-cost study materials available through libraries or online platforms. Many resources provide valuable insights without the high price tag associated with commercial study guides.
Consider Group Study Options
Joining a study group can reduce costs while enhancing learning experiences. Group members can share resources, notes, and insights that benefit everyone involved.
By implementing these budgeting strategies, candidates can effectively manage their finances while preparing for SHRM certification.
Long Term Costs and Maintenance of Certification
Obtaining an SHRM certification is not just a one-time expense; it involves ongoing costs related to maintenance and recertification.
Recertification Requirements
Both the SHRM-CP and SHRM-SCP certifications require holders to earn 60 professional development credits (PDCs) every three years to maintain their status.
These credits can be obtained through various activities such as attending workshops, webinars, or conferences—often incurring additional costs.
Membership Renewal Fees
Maintaining membership with SHRM is beneficial for accessing resources but comes with an annual fee of approximately $200. This fee supports continued access to valuable tools that aid in professional development.
Check out: How Much Is SHRM Membership?
Potential Costs of Continuing Education
As HR practices evolve, staying current is crucial. This may require investing in additional training or courses beyond the initial certification preparation. These educational opportunities can vary widely in cost but are essential for maintaining relevance in the field.
Financial Planning for Long-Term Costs
Candidates should factor these ongoing expenses into their overall financial planning when pursuing SHRM certification. By budgeting for recertification fees and continuing education early on, professionals can ensure they remain certified without unexpected financial burdens down the line.
In summary, while initial costs for obtaining SHRM certification may seem significant, understanding long-term commitments can help candidates prepare effectively both financially and professionally.
FAQS
How Long Does SHRM Certification Take?
The duration for obtaining SHRM certification varies based on preparation and exam scheduling.
Candidates typically spend about 3-4 months preparing before taking the SHRM Certified Professional (SHRM-CP) or SHRM Senior Certified Professional (SHRM-SCP) exams.
The exams themselves are 4 hours long, consisting of 134 multiple-choice questions, with a total testing time of 3 hours and 40 minutes. After certification, individuals must recertify every three years by earning 60 professional development credits or retaking the exam.
Is SHRM Certification Valuable?
SHRM certification is considered valuable for HR professionals, as it enhances credibility and career advancement opportunities.
The Society for Human Resource Management (SHRM) offers two main certifications: SHRM-CP for entry-level and SHRM-SCP for senior professionals.
Certified individuals often report higher salaries—up to 35% more than non-certified peers—and increased job prospects. Employers recognize SHRM credentials as indicators of expertise and commitment to the HR field.
Additionally, the certification process equips candidates with practical knowledge applicable in various HR scenarios, making it a worthwhile investment for career growth and professional development.
Can I Get SHRM Certified Without Experience?
Yes, you can obtain SHRM certification without prior HR experience. The SHRM Certified Professional (SHRM-CP) does not require work experience, making it accessible for those new to the field.
However, while certification can enhance your resume, it may not be sufficient to secure a job without relevant experience.
Employers often prioritize candidates with practical HR experience over those with only certifications. To strengthen your application, consider internships or entry-level roles in HR or related fields to gain practical experience alongside your certification efforts.