Thursday, April 14, 2011

Non Profit Job Salary and Benefits

Believe it or not, non profits don't pay in
Monopoly money
One of the biggest myths about working in nonprofit organizations is that you are destined to live a life of poverty.  Many people think that just because they are not built for the sole purpose of making money, that there is no chance a non profit could offer a salary that could compete with a for-profit job.  While it's true that you may not get the kind of bonuses or stock options you could get at a big corporation, a typical non profit salary is actually very comparable to that of a typical job in the for-profit sector. 

For example, working as a Chief Development Officer at a successful non profit could earn you as much as $100,000 a year.  And according to Simply Hired, the average entry level salary for a non profit job is $42,000.  So while you may be leaving some hefty bonuses on the table by working at a non profit, you certainly will be earning more than a respectable living (and by the way, non profit jobs do provide opportunities for bonuses, they just might not be as outrageous as those at for-profit jobs).

In addition to earning a very good salary, nonprofit organizations often have some really good perks and benefits.  There are plenty of exciting non profit events and conferences that even just staffers will get to attend, as well as fundraising dinners.  What about retirement plans?  Well believe it or not, these are quite similar to the standard 401(k) plan you would get at a for-profit, with some small differences.  For instance, according to Fool.com, the 401(b) plan involves less contributions from the employer, and is also simpler to manage.  Still, 401(b) plans still allow employees to elect to have some of their salaries set aside for pre-tax purposes, as well as the other standard 401(k) benefits. 

So as you can see, non profit benefits can not only be similar to for-profit jobs, but can also have some added perks as well.  So if salary and benefit concerns were holding you back from pursuing a non profit job, you can safely put those concerns aside and pursue the job of your dreams.

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