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As an outside observer, I really don't know because I've seen people in the same jobs both with and without it, and it usually doesn't correlate to better performance.
I got my company to cover the cost of getting one and they offered me a promotion on the conditions that I completed the certification. I think if you can somehow land yourself a deal like that then that's the best possible scenario for you to pursue one. It can definitely help you further your career if you get it on your own, though.
Rising Star
Hm interesting. I wonder if I can do something like that or leverage it during my job search.
If I have to choose between someone with PMP certification or experience, experience (if successful) would win out. However, if someone has PMP certification PLUS successful experience, that would be a definite edge up.