finances

PRSA’s Proposed 2012 Dues Increase By Sarah Siewert

Diahnn Henderson 4 Comments

By now you may have heard the news that, after 10 years without a dues increase, PRSA’s Board of Directors will be introducing a motion at this year’s Leadership Assembly at International Conference in Oct. to raise the cost of PRSA membership. As your chair, I would like to get your feedback so I can best represent our Section when voting on this important matter –please read the rationale and what this means for us below. I look forward to your feedback.

The rationale

This blog post, written by PRSA Treasurer Philip Tate, APR, announces the proposed increase and presents the rationale behind it. In his post, Philip explains why the increase is necessary; details the cost-control and revenue generation steps that were taken in an attempt to avoid an increase; and previews the type of Member benefits that the dues increase is intended to provide for you and for all PRSA members.

What this means for New Pros

First, it’s important to note that associate memberships will NOT be impacted by the dues increase motion. Associate memberships will remain in the same price structure:

    • PRSSA member who graduated within the past two years or a graduate student: $60
    • Graduate students: $60
    • Less than one year of experience in public relations (NOT a former PRSSA member): $115
    • With one to two years of experience in public relations (NOT a former PRSSA member): $155

If you are a Section member with two or more years of experience, you WILL be impacted by the dues increase. If the motion is passed, general memberships will change by $30 annually:

    • Current annual membership fee for general members: $225
    • Proposed annual membership fee for general members: $255

If APPROVED, PRSA National is considering offering all Webinars for FREE to PRSA member. This represents nearly $2,000 in annual savings for members who participate in one PRSA webinar per month. In addition, passage of the dues increase will allow PRSA to implement loyalty marketing programs based on member involvement. This means you will receive even more value for your PRSA membership, just by being an active member.

Input needed

Please take a moment to read the post and give us your feedback. I look forward to engaging with you through the comment section below, or through our Twitter ( @PRSANewPros) and Facebook (/PRSANewPros) accounts. You also may feel free to contact me directly at sarah.siewert@kemperlesnik.com.

Navigating Your Financial Future: Q&A with New Pros Brown Bag Speaker Jim Beverley

Heather Sliwinski Leave a comment

You have, or are looking forward to, one of your first jobs in public relations—and your first steady paycheck. So, how can you take steps now to ensure you are building a strong financial foundation?

Join New Professionals Section members for a free brown bag teleconference “Navigating Your Financial Future” on Thursday, April 21, hosted by financial advisor Jim Beverley.  Beverley is a financial advisor with Partners Wealth Management with more than 15 years of financial planning experience.

PRSA New Professionals Blog Co-Chair Heather Sliwinski spoke with Beverley to get a preview of some of the topics he will be covering on Thursday.

Heather Sliwinski:  In regards to their finances, what are the biggest challenges facing new professionals in today’s economy? 

Jim Beverley: These days I hear quite a bit about paying off student loans as a significant challenge to new professionals.  The cost of education required for getting a job and the recent investment landscape has made debt-free education a rare situation. 

HS: Another crop of seniors is graduating this spring.  What is a tip you have for those who are about to face their student loans? 

JB: Shop for the best available repayment strategy, pay every time on time and if you can pay more, do so.   Getting beyond these loans will help you get to saving money earlier in your life.  It also helps you build your credit for when you are ready to buy a home or car.

HS: Do young professionals often seek out your council? If not, why do you think that is the case? 

JB: Young professionals do not typically seek my council.  In most cases, I have the feeling they would rather spend their money on buying fun things for their life.  Cars, electronics, clothes and eating out seem to get the priority over paying for financial advice.  On the one hand, I understand that motivation, and yet if they would spend their first dollars saving for their own future, they would soon be able to afford all the clothes, dinners, cars and electronics they desire. 

HS: In your 16 years of experience, surely many of your clients have told you about financial regrets. What is the most common regret, and what can new professionals do early in their careers to prevent it? 

JB: By far the most common regret my clients share with me is that they did not start saving early enough, and when they started, they wish they had saved more of their income.  While there are many regrets, it is amazing to me how often I hear this response.

HS: If you could give just one piece of financial advice to recent graduates, what would it be?

JB:  Whatever your income is, live as if you earned 10 percent to 20 percent less than that, and get in the habit of saving money from your first paycheck.  Do not get into the mindset of, “as soon as I get x, then I’ll start saving”.  Save some of EVERY paycheck you get, and do it right away. 

So how do we start saving?  Find out by registering for the brown bag today!  Among the general topics, Beverley will discuss:

  • A sample budget based on an average entry-level public relations professional’s salary
  • Managing your credit, including what affects your credit score (and how it affects what you can do with your money)
  • An overview of available student loans, and tips to make the repayment process as painless as possible
  • Planning for retirement (clearly, you are not too young)

Jim BeverleyJim Beverley, CLU, ChFC, CFP®, has 16 years of experience as a financial advisor. Beverley offers Securities and Investment Advisory Services through NFP Securities, Inc., member FINRA/SIPC. NFP Securities, Inc. is not affiliated with Partners Wealth Management.  Beverley empowers clients by eliminating conflicts of interest, taking the time necessary to understand each client’s financial situation and educating clients on the solutions available to help accomplish their objectives.