21 February 2024 - 3 min read
Back in 2019 it was predicted that online learning was the future of education. Fast forward nearly five years later and we could likely all agree that this statement rings true.
With the option to gain prestigious, industry-relevant qualifications online and from anywhere, professionals at all stages of their careers are enrolling on courses, advancing at work and most importantly, investing in themselves and their futures.
In this blog, we discuss one of the biggest deciding factors when gaining any new qualification: how much is it going to cost?
Chartered Management Institute (CMI) qualifications are respected and recognised by employers around the globe. As they are currently incorporated under a Royal Charter, they’re an integral part of business excellence and passionately work to combine both high class management and quality leadership skills.
With over 75 years of industry experience and 22 years of being the only organisation to be able to award Chartered Manager status, when you study a CMI qualification, you know you’re on the way to succeeding in the career you’ve always wanted!
As a distanced learning provider, we’ve narrowed the various factors you’ll need to consider understanding how much a CMI qualification will cost you, including:
CMI haven’t locked their prices down to a flat rate when it comes to their course providers. This means that pricing for CMI courses will vary across the board, depending which provider you choose, and you’ll be able to make use of any sale prices or discounts that you’re able to find through your own online research.
We recommend doing as much research as you can and make use of online reviews and recommendations from friends and employers.
There are a few different ways that you can study your CMI qualification, whether that be in-person, via blended learning or 100% online (with a distance learning provider like us, for instance).
This really comes down to:
Face-to-face learning tends to be slightly more expensive as you have to factor in your commute, your course and study materials, as well as any extra costs such as food and drink. It’s also more likely that you’ll have time restraints, as they won’t be able to run classes or sessions over and over again, you’ll have to keep up!
Online learning, on the other hand, tends to be a more flexible in terms of timings, for example, at DPG, we offer maximum completion times instead of minimum and the option to increase your length of study time (for a fee!) if this becomes a requirement.
As previously mentioned, in-person learning will likely accrue the cost of course and study materials and we know from our own research that these aren’t cheap! You can spend upwards of £30 per textbook, including some second-hand ones, as well as the ongoing cost of stationary and other studying resources.
Online learning platforms are likely to offer flexible payment methods to make studying that bit more affordable, for example, at DPG, we offer interest free payment plans as well as all course material included in the overall cost of your qualification, which makes monthly budgeting that little bit easier.
There’s also the option of blended learning, which is a combination of live online interactive and immersive learning experiences, giving you the chance to mix with like-minded students, as well as webinars and workshops that can be accessed in your own time as if you were learning 100% online individually.
There’s seven different levels of qualification offered by CMI, levels 2 through to 8, and depending on what stage you’re at in your career. For instance:
CMI Level 2: designed for Team Leaders
CMI Level 3: designed for First-Line Managers and Supervisors
CMI Level 4: designed for Junior Managers
CMI Level 5: designed for: Middle, Operational and Department Managers
CMI Level 6: designed for Professional and Senior Managers
CMI Level 7 and Level 8: designed for Senior Managers, Directors and CEOs
At each level of qualification, CMI typically allows students to study Awards, Certificates and Diplomas, making your CMI qualification attainable no matter what your time restraints or level of experience is. The only catch is that the Diplomas are the most comprehensive courses while the awards are generally less in-depth and take less time to complete.
On average:
We’re going to provide some ballpark figures when it comes to the different levels and types of qualifications below, so that you know what to expect before you do research of your own. Please bear in mind that these will vary depending on provider, type of study and time of year.
In most cases, you will also be required to pay for a CMI registration which is an additional cost.
Not all providers offer payment plans, or additional payment solutions, such as Klarna, so it’s worth taking note of this also.
A CMI Level 2 Diploma on average costs between £1500-£2000.
A CMI Level 2 Certificate on average costs between £525-£663.
A CMI Level 2 Award on average costs between £383-£409.
A CMI Level 3 Diploma on average costs between £874-£2178.
A CMI Level 3 Certificate on average costs between £583-£1034.
A CMI Level 3 Award on average costs between £383-£726.
A CMI Level 4 Diploma on average costs between £974-£1677.
A CMI Level 4 Certificate on average costs between £663-£774.
A CMI Level 4 Award on average costs between £409-£674.
A CMI Level 5 Diploma on average costs between: £1020-£2300.
A CMI Level 5 Certificate on average costs between: £609-£1210.
A CMI Level 5 Award on average costs between: £400-£726.
A CMI Level 6 Diploma on average costs between: £1573-£1791.
A CMI Level 6 Certificate on average costs between: £634-753.
A CMI Level 6 Award on average costs between: £412-£457.
A CMI Level 7 Diploma on average costs between: £1565-2884.
A CMI Level 7 Certificate on average costs between: £650-£1525.
A CMI Level 7 Award on average costs between: £408-457.
A CMI Level 8 Diploma on average costs between: £1550-£1995.
A CMI Level 8 Certificate on average costs between: £570-£850.
A CMI Level 8 Award on average costs between: £285-£550.
If you’re about to enrol on a CMI course, we mentioned earlier that there may be additional costs such as a registration fee to CMI themselves and possibly assessment fees that aren’t included in the total cost of the qualification. We recommend checking the small print and asking your learning provider about these payments before you commit.
Currently, the CMI registration fees are as follows:
Each fee is dependent on which level and qualification you study, with the option to top-up your membership for a lower cost. In some cases, you will also need to pay an assessment cancellation fee if cancellation occurs, so speak to your provider or visit the CMI website.
We cannot speak enough about the benefits that you will gain upon completion of a CMI qualification. From promotions to increased pay, satisfaction to purpose in your role, an investment in yourself and your education, is an investment worth doing.
Open career doors and enrol today to gain a 100% online CMI qualification with DPG today.
08 September 2023 - 3 min read
04 March 2024 - 2 min read
16 February 2023 - 5 min read
Career Hub