How an MBA Can Impact Nonprofit Salaries
As is the case in most businesses, nonprofits are currently seeking newly educated workers who can improve organizations by implementing new technologies. Armed with an online MBA degree, professionals improve the likelihood of placement and earning higher nonprofit salaries by exhibiting expertise in these advanced technologies and rising above other applicants.
Online programs like a Nonprofit Management MBA, stress the importance of applying business schools directly to nonprofits rather than teaching generic models that don’t necessarily fit the structure of a nonprofit organization. By asserting yourself as an expert in not just business but specifically in nonprofit business, professionals can leverage their credentials to demand higher starting pay.
Adapting to industry changes is a stellar quality in any applicant, and education is a major part of that adaptation. Because online degrees allow professionals to pursue an education while not affecting their work schedules, the appeal of nonprofit MBAs will continue to grow, and professionals who recognize this trend can stay ahead of the game by pursuing their degrees first. Just because nonprofits reflect altruistic work for causes that professionals likely endorse doesn’t mean they can’t expect to earn what they would in other industries. Maintaining a competitive edge is one of the best ways to ensure that professionals prospects don’t become stagnant.
All this serves to prove that an Online Masters Degree Program can help nonprofit salaries become higher than you think when compared to similar positions in the private sector. Looking to change careers? You may consider one of the following reading our articles on MBA Career Paths, Top MBA Salaries, or going back to school for a MBA.
Growth in Nonprofit Job Market Could Lead to Higher Nonprofit Salaries
People who think there isn’t money in nonprofits need to reevaluate the current market, because when it comes to nonprofit salaries, you can earn more than you think. Some of the best-paying advocacy groups offer competitive pay for business-minded professionals. Two of the fastest growing positions in nonprofits are general managers and public relations specialists, and both of these career paths are expected to grow in the next five years by 20 percent, making nonprofits a viable option for many professionals seeking employment.
As a result of the recession, nonprofit efforts took a major dive as funding was cut and philanthropists reduced donations across the board. However, last year, Philanthropy.com reported an increase in grants in order to stimulate the economy, which proved to be a thrust in the right direction for nonprofit organizations. Now nonprofit efforts are on the rise and with them come increased job postings, making this market less competitive than others to enter and providing competitive nonprofit salaries higher than most imagine.
Common Nonprofit Jobs and Salaries
Unfortunately, when budgets get cut as many, many organizations experienced because of the recession, the lower-level employees are often the first to see their hours wane and even experience dismissal. It’s those with the strong skills who provide the backbone of organizations who have the most job security in these times. Because of this reason, an MBA becomes a valuable tool, particularly in nonprofits, because organizations are more likely to pay a qualified professional a higher salary to ensure that they stay longer and remain dedicated to the cause. Here are some common nonprofit positions and their accompanying salaries:
- Social Service Specialist: $39,950
- Counselor: $42,240
- Social Worker: $48,180
- Accountant: $48,464
- Health Educator: $48,590
- School Counselor: $53,540
- Training and Development Specialist: $54,372
- Administrative Manager: $54,704
- Public Relations Manager: $57,701
Lowest Nonprofit Jobs and Salaries
Compare those salaries with what the lowest reported salaries are for the same positions, and it becomes clearer how a salary can vary depending on experience and education:
- Social Service Specialist: $21,910
- Counselor: $24,120
- Health Educator: $26,210
- Social Worker: $27,400
- School Counselor: $29,360
- Training and Development Specialist: $29,470
- Accountant: $36,720
- Administrative Manager: $37,430
- Public Relations Manager: $46,870
Education is still a major factor when employers are considering applicants and deciding what salary a professional should earn. With an MBA, professionals line themselves up for promotion, raises and advancement because of the fundamental value of the advanced degree in employers’ eyes. For more information on nonprofit careers, click here.
Highest Nonprofit Jobs and Salaries
When considering how much to expect to be paid at any organization, professionals must consider how large the group’s budget is to begin with. If a nonprofit typically has a million dollar budget, professionals could anticipate a higher payout, averaging around $77,268 in management roles although this could increase significantly into six-figure numbers depending on the way the group manages their funds. But if the nonprofit has a lower budget, professionals have to lower their expectations for pay.
Nonprofit Salaries are Higher than Average
Nonprofit salaries on average yield higher pay than you might think, though. In 2007, the average hourly rate that nonprofit employees earned beat out the average Business Management Salaries, and some Healthcare Careers in the private sector. Here are some of the highest salaries paid to top professionals in nonprofits:
- Social Service Specialist: $48,830
- Counselor: $52,080
- Health Educator: $60,810
- Social Worker: $60,850
- School Counselor: $65,360
- Training and Development Specialist: $67,450
- Accountant: $78,210
- Administrative Manager: $98,980
- Public Relations Manager: $126,060