Membership pays

An independent economic impact analysis commissioned by the Consultative Committee for Professional Management Organisations (CCPMO) - a group representing eight leading professional bodies* in business disciplines, including The Chartered Institute of Marketing - reveals that individuals with professional qualifications and membership stand to gain £152,000 in additional earnings over the course of their career.

• Boost in earnings: the estimated lifetime economic benefit associated with holding professional qualifications has been valued at £81,000. The study also shows how membership of a professional body can result in additional earnings of up to £71,000
• Revenue driver: based on today’s taxation levels the estimated additional lifetime tax revenue contributed by an individual with professional qualifications and membership currently stands at £53,000
• Employer value: individuals with professional qualifications and membership enjoy a 9 per cent increase in the probability of being employed because of the transferable skills offer. This figure, coupled with the 37 per cent wage premium received by professionally qualified staff, demonstrates the high value employers place on the skills developed by professional bodies

* The members of the CCPMO are the Chartered Management Institute, Chartered Institute of Logistics and Transport, Chartered Institute of Management Accountants, The Chartered Institute of Marketing, Chartered Institute of Personnel and Development, Chartered Institute for Purchasing and Supply, Institute of Credit Management and Institute of Chartered Secretaries and Administrators.