The theme for Business Continuity Awareness Week is return on investment and the discussion has mainly focussed on the investment in business continuity processes, but what about the investment in those people working in the industry? Does this provide any return? It certainly does for the individual according to the latest research by the Business Continuity Institute, which examined the salaries of business continuity professionals from across the world, and made comparisons between different demographics or factors.
The key finding from the Global Salary Benchmarking Report was that BCI certified members, those who have achieved one of the world’s leading credentials in business continuity, earned more than their non-certified colleagues by up to 30%. In Europe the figure was 30%, while in Australasia and North America it was 18%. This helps demonstrate the value of investing in your career, as ultimately those with the appropriate certifications receive greater remuneration.
The findings of the report also indicated a gender pay gap, with female business continuity professionals in Europe being paid a staggering 37% less than their male counterparts, while those in North America received 19% less. Of course there may be a number of variables that contribute to this, but the fact remains that there is a significant salary imbalance between men and women.
Patrick Alcantara DBCI, Senior Research Associate at the BCI and author of the report, commented: “The report identifies that business continuity professionals must consider the investment in their own career. By attaining the credentials relevant to their role, and investing in their education, they can improve their career prospects and reap the benefits when it comes to remuneration.”
“It must be noted as well that significant variations still exist between salaries for men and women. This is something that the business continuity community can help change consistent with the principle that equal work deserves equal pay.”
The Global Salary Benchmarking Report is available free of charge to all members of the BCI, and can be found by visiting the members' area of the website. In addition to the Global Report, additional reports can be found specific to Asia, Australasia, Australia, Europe, North America, United Kingdom and the United States.