Benefits of CMI Chartered Manager Status
Virtually all management professionals dream of attaining CMI's Chartered Manager status. However, there are lots of misconceptions
prevalent about it.
Everybody wants to know what it is, its benefits, how to attain this
credential and so on. That’s why we have written this blog to answer all
these questions. So, read this whole blog to learn about all these
things.
What is the CMI's Chartered Manager status?
The Chartered Management Institute provides competent managerial
professionals with the status of Chartered Manager. It is a globally
recognized credential. In addition, it is the highest status that a
professional working in the management and leadership profession can
achieve.
The holder of this status is regarded as a professional with
exceptional management and leadership skills. However, the status holder
has to have a commitment to Continuing Professional Development (CPD).
If you desire this status but are at the early stage of your
management career, don’t worry. You should go for Foundation Chartered
Manager status, about which we have provided information below.
What is the Foundation Chartered Manager status?
Foundation Chartered Manager status (fCMgr) is a professional status
that can help you stand out from the competition. In addition, it can
assist you in starting your management career with all the benefits of
CMI membership.
Attaining this status will prove that you are with the foundation
skills necessary to become an effective manager. In addition, it also
shows your commitment to further developing those skills to deliver
better business results.
The biggest benefit of this status is that it will give you a structured pathway for Full Chartered Manager status.
Chartered Manager status benefits:
The following are the benefits of attaining the Chartered Manager credential for you, the UK economy and businesses:
- You will enjoy an average pay rise of £13k after becoming Chartered.
- Your contribution can help the business revenue grow by £62k each year and £310k over 5 years.
- UK economy will have £22.4k Additional contribution every year from each manager getting Chartered.
How to become a Chartered Manager?
CMI provides three routes to attaining a Chartered credential. The
way you choose is dependent on the mixture of your qualification and
work experience.
Here, in this blog, we will tell you the three routes and the eligibility criteria for attaining CMI's
Chartered manager status. The three ways are:
- Fast Track
- Full Assessment
- Apprenticeship
Fast Track eligibility criteria:
You need to have a CMI Diploma qualification, at level 5 or above.
Besides that, you must have a minimum of 3 years of experience in a
management role.
Cost:
This route is on the completion of the CMI Diploma qualification. In
addition, it provides a fast-track assessment process considering your
prior learning with CMI.
It costs £130 + VAT (with membership fees where applicable).
Full Assessment:
Eligibility criteria for Chartered Manager Status via Full Assessment pathway:
Either you need a degree-level qualification that is business,
management or leadership-focused. In addition, you need to have 3 years
of work experience in a management role.
Or, you need to have a minimum of 5 years of management experience.
It is equivalent to Level 5 or operational/senior management level if
you don’t have a management-specific qualification.
Cost and requirements:
You must capture details of your latest attainments/positive results.
After that, work with an assessor to complete the assessment review.
Two choices will be before you to choose from:
- Written Submission assessment
- Professional Discussion assessment
It will cost you an amount of 540+VAT or £855+VAT respectively. Besides that, you need to pay membership fees where applicable.
Apprenticeship:
Eligibility criteria for Apprenticeship or EPA:
You are completing End Point Assessment (EPA) through CMI for one of
these apprenticeship standards. Besides that, you have relevant
management experience:
- Level 5 Operations/Department Manager
- Level 6 CMDA
- Level SLMDA
Requirements:
The Chartered Manager assessment criteria are built into the
CMI assessment at EPA. There is no additional work and additional cost for the apprentice.
In simple words:
If completing a CMI qualification with your apprenticeship, you will
automatically get Chartered status when passing your apprenticeship.
In the case of having CMI membership support as a part of your EPA
package, you will automatically be Chartered. However, you will attain a
chartership when you pass your apprenticeship.
If you are completing EPA only (without membership support or
qualification), complete a form to claim your relevant Chartered status.
However, you need to complete the form when you pass your
apprenticeship.
