Yes – if you are new to projects. The CAPM pays off for students, graduates, career changers and coordinators who need proof of project skills before anyone will trust them with a project. If you already lead projects and can document the hours, skip it and sit the PMP instead. Everything below is the detail behind that answer: what PMI now tests, what it costs, and how long it really takes.

The Certified Associate in Project Management (CAPM) is the Project Management Institute's entry-level credential. It was built for people who work on projects rather than run them, and for a long time it was treated as a junior version of the PMP that tested the same book of knowledge areas.
That description is out of date. PMI rewrote the exam content outline, and the CAPM now spans three ways of working – predictive, agile and business analysis – instead of one. The eligibility rules changed too. So the honest answer to “is it worth it” depends less on the credential's reputation than on where you are standing right now.