IEEE dues increase over time but the product and services remains the same.
The world commercial market has conditioned consumers to expect more for less over time.
IEEE members typically belong to 2 or more other professional organizations, which usually cost less than IEEE.
Other professional organizations are IEEE’s competitors.
$100 falls within the range of discretionary spending.
Products in the discretionary range are bought with little thought to cost.
The Plan will make IEEE more affordable to Young Professionals who are burdened with high education debt.
The Plan will help recover arrears & inactive members.
Students typically have limited funds and look for value at reduced cost.
There are 4.5 times more IEEE non US under grad students than US under grad students.
International student dues are $27 compared to US student dues of $32 and Canadian students dues of $36.
It is clear that cost matters to all students.
$10 dues will encourage students to join IEEE.
$10 is well within a student’s discretionary spending.
$10 dues is equivalent to 2 Starbucks coffees or MAC meals.
Students are subject to peer pressure. More IEEE students will encourage more students to join.
This is IEEE’s opportunity to encourage IEEE students to become IEEE members when they graduate.
$100 Dues Impact on Young Professionals
US Young Professionals who are now members have stated that IEEE dues sticker shock delayed their joining for 7 to 9 years until their careers were stable.
Education debt repayment is a big deterrent to joining IEEE.
Current IEEE dues are well above the Young Professional’s discretionary spending limit.
US IEEE Young Professionals who join right after graduating have a 20% retention rate in the 1st year and a 10% retention in the 2nd year. This may also be true for all IEEE Young Proffesionals worldwide.
Given the choice of “buying a kitchen table” or joining IEEE, the Young Professional always buys the kitchen table.
$100 dues will likely attract 5%/yr. to 10%/yr. of all available Young Professionals globally.
The IEEE Young Professional US market share is only 5.7%.
The opinions expressed herein are the sole opinions of this website and not necessarily the opinions of IEEE.
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