Money & Business

Daily Buzz: Who Earns More, Nonprofit or For-Profit Workers?

By / Jun 3, 2019 (SARINYAPINNGAM/iStock/Getty Images Plus)

Service-oriented jobs are gaining favor with college grads—and nonprofit paychecks are catching up. Also: Meeting planners, your time is money.

About four-out-of-five recent college graduates say it’s very important to have a sense of purpose in their work, according to a new Gallup poll. But with college debt looming overhead, can they find careers that are both purpose-driven and pay the bills?

Where for-profit jobs once had the advantage in offering higher pay, research shows nonprofit salaries can be just as competitive. In fact, average compensation, including benefits, for employees at nonprofits is $7.86 per hour more than those at for-profits, according to US Bureau of Labor Statistics data from 2014, the latest year for which figures are available.

“The growing interest in nonprofit work is yet another signal that employers should be aligning themselves with their purpose-driven employee pools,” writes Michelle Cheng on Quartz at Work. “Plus, it pays off: Studies show that employees who derive meaning from work report higher satisfaction and are more likely to stay with the company longer. In short, companies should no longer be striving to either be purpose-driven or profit-driven—but finding a case for both.”

What Are You Spending Time On?

As a meeting planner, you know your time is valuable. So why are you giving away your time to tasks that are beneath you?

“As an event planner, what you bring to the table is your years of events expertise, your charisma in selling a vision, and your business savvy in managing a budget,” says Karen Gordon on Smart Meetings. “If you’re spending time doing things a computer or an assistant can do, you’re depriving clients of the moxie that got you into the business to begin with.”

To ensure that you’re focusing on activities fit for your job level, Gordon suggests taking inventory of your time and noting assignments that don’t match your level of expertise. Then, delegate.

“We must start recognizing that our time is of value,” she says. “The cost of hiring another human or investing in technology or a consulting service needs to be weighed against the high cost of repeated wasted time.”

Other Links of Note

Struggling from decision fatigue? The HubSpot blog offers tips on how to train your brain for smart decision making.

Long live your passwords: Microsoft is doing away with its password expiration feature. TechCrunch explains the change.

Members’ needs change as they move along in their careers. The YourMembership blog outlines strategies for providing value at every stage.

Sophia Conforti

Sophia Conforti is a contributor to Associations Now. More »

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