Markets in motion: what the Q3 membership numbers tell us
Joiners are up, renewals are steady and the average member is younger than at any point in the past decade. A look at the figures behind a busy quarter.
Quarterly membership figures rarely make the news, but they are one of the best early indicators we have of how a profession feels about its future.
This quarter, applications rose by a little under a fifth on the same period last year, with the largest increase among people in their first five years of practice.
Renewals hold, grade mix shifts
Renewal rates were steady across every grade, which is what we would hope to see in a market with real uncertainty in it. The mix of new joiners is changing, with more applicants entering at associate level and moving up faster than before.
Employers are increasingly asking for a recognised grade at the point of hire, and early-career members are responding.
A younger, more digital membership
Three quarters of new members applied online and a growing share completed their first assessment without a single phone call. The experience matters as much as the offer.
Looking ahead
We expect the trend to continue into the new year. The full quarterly report, including regional breakdowns, will be available to members through the portal.
As ever, the numbers are only half the story. If you have a view on what is driving them in your part of the market, we would like to hear it.