Determining Non Profit Wages: Things to Consider

As non profits are tasked with accomplishing more in an era of declining budgets, a formal compensation philosophy can be a helpful tool for management to navigate through pay decisions and determine non profit wages – especially when budget pressures escalate. A compensation philosophy is often linked to a non profit’s mission and core competencies, meaning a greater number of resources should be devoted to areas where non profit wages are crucial to the success of the organization. Conducting an internal discussion regarding the distribution of non profit wages is the best way to make the pay decision process simple.

Non Profit Wages: How Much Are You Willing To Pay?

Whether you are filling a vacant position or creating a new one, the non profit industry has likely already defined an acceptable salary range. Therefore, when defining non profit wages doing your homework should be the first step. Contact trusted colleagues and industry professionals who hold the type of position you’re filling or manage someone who does to learn about their non profit wages and compensation packages. Then you need to decide how much you are willing and able to pay a qualified candidate. Be realistic in this process. If the level of candidate you need and the wages you’re able to pay don’t match, you need to reevaluate your expectations.