Try to establish the identity of a typical UK IR practitioner and you come up with a concoction to frighten Dr Frankenstein – aged youngster, female man, inexperienced veteran, overpaid pauper. For it seems there’s no such thing as a typical UK IR professional; this year’s Investor Relations Society Membership Survey suggests its membership is nothing if not diverse.
Unfortunately, some of the differences fall along gender lines. In a profession where men and women are almost equally represented (42 percent of respondents are female) salary levels are far from equal: the overall average is £71,500, but while only 14 percent of women earn over £80,000, 41 percent of males clear that figure. At the same time, men are four times as likely to earn in the £100,000-150,000 bracket as their female counterparts.
Why? You might well ask. Part of the reason may be that while 60 percent of women work for small-cap companies (under £5 bn market cap), only 40 percent of men deign to do the same. The reasons for these differing career paths, however, require a socio-psychological study which this 65-page report cannot quite accommodate.
On a cheerier note, the IRO’s role in the general scheme of things is on the rise. Almost a quarter of corporate IROs (22 percent) now report directly to the CEO with 42 percent reporting to the CFO. In fact, the aggregate numbers reporting to the CFO and CEO are up by a third on the last IRS survey, conducted two years ago.
While the world’s population is getting relentlessly older, IR practitioners remain fairly sprightly. The average age is 40, the same as in 1998. That said, no-one is under 25 and two are over 65. Notably, corporate IROs are a little younger (at 39) then their consultant counterparts (41).
Education is another hot topic in UK IR. Most IRS members (60 percent) would like to see the society convert to institute status, which would involve membership through formal examination. In particular, training in IT is sought by many. And it’s a recurring theme: the internet and its impact on IR are mentioned more than any other subject as the most important current issue in the development of IR.
The survey reveals that members see their society as far more than a mere social club. A colossal 85 percent want the IRS extend its role as a lobbying organization – the stereotype of the British as a nation of complainers is alive and well, it seems.
Survey report available from the IRS. Tel: +44-20-7379 1763
