Is the PfMP or PgMP truly necessary or helpful for career advancement?

Eric, yes it makes a profound difference in ascending the career ladder, but your question is really too general as some PMP's top out at $70K, some at twice that or more, median's about $110K (in the U.S.) - it all depends on the industry and the type of company you're looking to build a career with (but in most every case the answer would be yes).

Be mindful within the U.S. the adoption of PMIAA within Government has placed a premium on the PfMP and PgMP certified with government contractors of all kinds throughout the U.S. Note “Cloud-based Project Portfolio Management” market is forecasted to grow at CAGR (compound annual growth rate) of 14% from 2018 – 2022. One driver in the market is increasing requirements for large-scale project management” (large scale PM is another driver for the demand of those with advanced certs).

The straight truth of the matter is the proliferation of PMP cert holders has watered down the "luster" of the badge coupled with the reputation of the PMP cert itself. Cheap online prerecorded training courses focused on passing the exam (and not really learning about the profession) has produced a generation of exam passers (and not necessarily Project Managers).

There are a lot of people with no PMP cert who work as PMs and do a great job, there are also a lot of people with PMPs that really don't know what they're doing. I see PMP holders that do the job of a PgMP or even PfMP, but don't have the empowerment and currency to fully leverage their opportunities in the market due to not having the Cert. Their true value is kind of "silo'ed" in the market due to not having the cert commensurate to what they are truly doing in their job.

I would not characterize the PMP Cert as particularly distinguishing for the premium opportunities. I would characterize a PfMP or PgMP as distinguishing currency, worldwide, for the job or career ladder you're aiming for. For those not in the U.S., a little over 1 year ago our Government has adopted a PM framework (standards and practices) throughout all of Government that those seeking Government contracts must adhere to called PMIAA. Bottom line is anyone seeking a Government Contract is going to have to have actual PMI Certified management/executives on board - simply to compete and win the contract. Having a PgMP and or PfMP holder overseeing the contract is a major box that is checked in securing the deal for the Government Contractor.

I would say it's about making the choice of empowerment.

Eric,

The small number of PgMP and PfMP doesn't help the recognition, without a reasonable number it is not a certification that get ask for.