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Sunday, July 21, 2024

Nonprofit Salaries See Marginal Motion in 2023


Nonprofit salaries remained comparatively stagnant from 2022 to 2023, in line with a brand new report that analyzed sector compensation in each the U.S. and Canada. 

Greater than 3,500 nonprofit professionals participated within the “2024 AFP Compensation and Advantages Report.” Within the U.S., the common wage elevated by virtually 1%, rising to $96,126 within the U.S. In the meantime, the common wage in Canada fell barely greater than 1% to $98,487.

Modifications in Imply and Median Salaries from 2022 to 2023 | Credit score: “2024 AFP Compensation and Advantages Report” by AFP

When surveyed in early 2024, 77% of U.S. respondents anticipated remaining with the identical group that employed them in late-2023 by this 12 months. One other 15% deliberate to stay in fundraising, however at a distinct nonprofit. Within the earlier survey, 55% anticipated leaving their present place.

Right here’s a take a look at compensation and advantages for U.S. nonprofits. 

Compensation

Although compensation rose 6.7% in 2022, that was barely sufficient to maintain tempo with inflation. Final 12 months’s uptick is extra on tempo with 2021’s 1.5% improve

No matter 12 months, there are 4 components which might be the primary drivers affecting compensation, in line with a 2019 AFP report that analyzed the variables statistically linked to compensation.

1. Organizational Measurement

For this comparability, nonprofit budgets symbolize the organizations’ dimension. Total, giant organizations paid as much as 54% extra, per the 2019 evaluation. 

For this 12 months’s knowledge set, common compensation ranged from roughly $62,000 at a corporation with a funds lower than $250,000 to a peak of about $150,000 for nonprofit with budgets which might be $100 million or bigger. Nonprofits whose budgets exceeded $5 million additionally had common salaries above the sector common. 

2. Job Title

A nonprofit skilled’s job title additionally performs a powerful function in compensation degree. Nonprofit professionals who lead fundraising efforts, akin to CEOs, government administrators and administrators of developments, earn as much as 25% greater than different fundraising positions, in line with the 2019 evaluation. 

On this 12 months’s knowledge set, the exception to that is for organizations with budgets lower than $250,000, as these nonprofits usually tend to have founders who take little to no compensation.

3. Instructional Degree

The 2019 evaluation discovered a doctoral diploma may end up in a 15% pay bump, however incrementally every degree of training tends to trigger a rise in compensation. For this 12 months’s knowledge set, these with grasp’s levels and better made above the sector’s common wage.

Compensation by Schooling Degree within the U.S. | Credit score: “2024 AFP Compensation and Advantages Report” by AFP

4. Gender

A wage discrepancy by gender nonetheless exists within the nonprofit sector with males incomes 10% greater than girls. The 2019 evaluation even thought of different components influencing compensation, together with taking break day to boost kids. 

On this 12 months’s examine, girls averaged $92,882 in compensation in contrast with males’s pay of $114,938 — a 21% hole.

Advantages

A stable 98% of U.S. respondents indicated that they acquired well being advantages, with a majority having dental, imaginative and prescient and/or prescription protection. About half of respondents indicated their nonprofit employers supplied a 401(okay) and/or 403(b) retirement plans. Different fashionable advantages included short-term incapacity (85%), a work-supplied laptop (82%), life insurance coverage (81%), skilled dues (74%), accident insurance coverage (50%) and paid parental go away (47%).

When it got here to paid break day, U.S. respondents averaged 17 days per 12 months. Organizations additionally supplied, on common, 14.6 paid holidays, together with “bridge days,” such because the Friday after Thanksgiving or weekdays between Christmas and New Yr’s Day.



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