It is not uncommon for a financial manager to realize mid career that he or she wants more from life than just a big bank balance. If the not for profit sector is what appeals to you, you can still leverage all the experience you gained on your finance manager job to transition into the non-profit sector.
In addition to being very interesting, this particular sector also offers tremendous security, especially for financial managers. A growing number of experienced professionals are considering a career in this sector because of their evolving outlook towards life, health and consciousness towards striking a work-life balance.
How much Does this Job Pay?
Said that, it is important to remember that shifting into the not for profit world involves making a few sacrifices, primarily ones own salary. It has been found that pay packages are lower in non profit businesses not only in the discipline of finance but across all disciplines.
Salaries for accountants tend to be about 10 to 20% lower than what they would be making in a profit making organization. While the starting salaries may not be very different, the disparities between pay packages increase as one goes up to levels of senior accounting or financial management.
Even though the more popular and largest not for profit organizations are likely to pay the standard market rate, getting a job at these organizations is equally competitive.
Salaries over 100,000 USD is a rarity in non profit organizations. But, one can easily earn about 60,000 to 80,000 USD for financial positions if you have a relevant CPA or MBA degree.
The lowest salaries in this industry for this discipline revolve around the range of 45,000 USD for accounting professionals who come with several years of experience.
Why Consider the Not for Profit Sector?
Believe it or not, money isnt the sole motivating factor for many careers. May individuals may come from families that do not need a big salary, or you wish to give back to organization that changed your life or helped your family.
Whatever may be your personal reason, it is important that you think through the compromise you will be making with respect to salary.
Finding a Financial Job in the not for profit Sector
You can call yourself a good candidate after acquiring the necessary skill sets through academic pursuits and acquiring some relevant experience that is typically available on commercial or service oriented businesses.
Non profit organizations are constantly on the lookout for experienced and qualified financial professional. Considering that they tend to lose a lot of their talent to commercial businesses who pay higher salaries, skills is always something that most non profits lack.
So if you think you have great skills and the experience to take up a position at a not for profit, you can genuinely go ahead and leverage the possibilities without any worry.
Also, remember that even though the salary may be low, the non profit sector tends to offer a range of benefits such as flexible work hours, informal work environments, and maybe even a chance to travel around the world!
In addition to being very interesting, this particular sector also offers tremendous security, especially for financial managers. A growing number of experienced professionals are considering a career in this sector because of their evolving outlook towards life, health and consciousness towards striking a work-life balance.
How much Does this Job Pay?
Said that, it is important to remember that shifting into the not for profit world involves making a few sacrifices, primarily ones own salary. It has been found that pay packages are lower in non profit businesses not only in the discipline of finance but across all disciplines.
Salaries for accountants tend to be about 10 to 20% lower than what they would be making in a profit making organization. While the starting salaries may not be very different, the disparities between pay packages increase as one goes up to levels of senior accounting or financial management.
Even though the more popular and largest not for profit organizations are likely to pay the standard market rate, getting a job at these organizations is equally competitive.
Salaries over 100,000 USD is a rarity in non profit organizations. But, one can easily earn about 60,000 to 80,000 USD for financial positions if you have a relevant CPA or MBA degree.
The lowest salaries in this industry for this discipline revolve around the range of 45,000 USD for accounting professionals who come with several years of experience.
Why Consider the Not for Profit Sector?
Believe it or not, money isnt the sole motivating factor for many careers. May individuals may come from families that do not need a big salary, or you wish to give back to organization that changed your life or helped your family.
Whatever may be your personal reason, it is important that you think through the compromise you will be making with respect to salary.
Finding a Financial Job in the not for profit Sector
You can call yourself a good candidate after acquiring the necessary skill sets through academic pursuits and acquiring some relevant experience that is typically available on commercial or service oriented businesses.
Non profit organizations are constantly on the lookout for experienced and qualified financial professional. Considering that they tend to lose a lot of their talent to commercial businesses who pay higher salaries, skills is always something that most non profits lack.
So if you think you have great skills and the experience to take up a position at a not for profit, you can genuinely go ahead and leverage the possibilities without any worry.
Also, remember that even though the salary may be low, the non profit sector tends to offer a range of benefits such as flexible work hours, informal work environments, and maybe even a chance to travel around the world!