FAQ: Membership Prices 2022

 

Why is the RES making these changes?

The Society wishes to move to a fairer system where the price an individual pays for membership is determined by their income. Several societies employ such a model including The Econometric Society and the American Economic Association. Those on the highest incomes will pay more, with a lower rate introduced for members on incomes of under £30k. We have also retained a highly discounted rate for student and unemployed members.

The Society wants to continue to offer flexibility. Members opting to take out a three year membership can still make significant savings. Members can also opt to include a printed subscription of the Economic Journal, but the Society is now asking these members to make a greater financial contribution to the cost of producing a printed version of the journal. 

I'm a current member. What do I need to do?

We will write to you in mid-October asking you to select your pricing tier by 15 November. We need you to do this even if your current membership is not due to renew until 2022 so that the new pricing structure can replace the current prices in the membership system. Any members who have not selected their pricing tier by 15 November will automatically be placed in Tier B.

Do you require evidence of my income?

No. The system is based on trust, and you do not need to provide evidence of your income. 

Why has the price of print + online membership increased so much?

The vast majority of RES members now opt for online only access to the Economic Journal. The Society has for some time subsidised the cost of producing a print version for members who prefer this, but now wishes to incentivise more members to use the online version. For those who wish to continue receiving the 8 printed EJ issues each year, the price will help cover the significant cost of printing, binding, fulfilling and shipping these issues. 

Are concessionary membership rates still available?

Yes. As before, we offer a heavily discounted rate for students and for unemployed members. In 2022 this will be £18 for a 1 year membership or £43 for a 3 year membership. 

Why has the Retired Member category been discontinued?

We have streamlined the membership categories to make it as straightforward as possible. Retired members, as with all other members, are invited to select their pricing tier based on their annual income. 

Why has the Developing Country member category been discontinued?

We have streamlined the membership categories to make it as straightforward as possible. Developing country members, as with all other members, are invited to select their pricing tier based on their annual income.

Will you make public the income tier I select?

No. The income tier you select will be used solely for the purpose of calculating the membership fee (or EJ submission fee) you pay. This information will not appear to other individuals on the website and will be handled in line with the RES data protection policy. 

What if my income changes in future and I need to update my pricing tier?

We won't ask members to pay a different rate during their current membership term. Before your membership is next due for renewal, simply contact finance@res.org.uk to inform them of the new tier you wish to move to and this will be processed ahead of your renewal. When your renewal invitation is sent, you will see the updated tier.

Can I beat the price increase by renewing early?

Yes. Those members wishing to renew their membership early at the 2021 rates, may do so as part of the invitation process to updating their income tier between mid October to 12 November 2021. Any early renewal would run for 12 months from 12 November, overwriting your current membership dates.

I am part of a group membership arrangement - am I affected?

Group members are not directly affected by the new pricing structure. If you receive RES membership via your university or employer, no action is required on your part. 

Will a concessionary rate still be offered for the Economic Journal submission fee?

Yes. Members in tier A, student members and unemployed members will all receive a bigger discount on the EJ submission fee

My question is not listed above, who do I contact?

For any other queries not listed above, you can contact our Finance and Membership Officer at finance@res.org.uk.