Yahoo Finance How to Transition to a Nonprofit Job
Are you tired of corporate life and fantasizing about a big career change? Perhaps you've considered stepping out of the rat race and into a more vision-driven work environment. Maybe you already identified a nonprofit organization with the potential to provide you a paycheck and a sense of purpose?
If so, you likely have questions about what moving to a nonprofit organization would mean for your personal bottom line. After all, there's a reason they call it "nonprofit." Your earning potential will be less, and you want to be prepared for what to expect.
Laura Gassner Otting is a nationally recognized expert with more than 20 years of experience placing nonprofit talent at every level and is author of a new book, "Mission Driven." She advises would-be nonprofit job seekers: "Your nonprofit salary might be as little as 40 percent of your corporate equivalent, but it doesn't have to be."
If you are thinking there's more to life and work than a paycheck, keep Gassner Otting's suggestions in mind to prepare for a more purposeful career.
Can you afford a salary cut? Take a careful look at your personal finances. What expenses do you have ahead of you? If you've already paid off your mortgage but have several children approaching college age, can you sacrifice salary in favor of a purpose-driven job? Do you have a nest egg in savings to help you with any upcoming purchases? How important is it for you to take fancy vacations or drive luxury cars?
Perhaps you're in the growing group of corporate employees who believe they must make a change. "Many corporate employees find themselves in nonprofit job interviews because they simply cannot afford not to make this change," Gassner Otting says. "If you believe it is up to you to make a difference in the world, and the best path to accomplish this is to take a job with an organization that inspires you, money isn't a question."
Consider the rewards unrelated to money. "Nonprofit jobs come with many nonmonetary rewards. There is simply no direct correlation, as in the corporate sector, between the salary you earn and the value you deliver to society," she says. "Don't focus on the paycheck -- look at the rest of the picture. You have saved the spotted owls. You have taught a child to read. You have reduced hunger."
If you know the intangible benefits of working in a nonprofit will outweigh a financial benefit of staying in your corporate job, you'll want to prepare for a career change.
Change your lifestyle. If you're convinced a nonprofit job is the best option for you personally, but you're not sure about the financial part, Gassner Otting suggests you consider scaling down your expenses and lifestyle.
"Perhaps the cause you hold dear is more important than those extra nights out at fancy restaurants or another designer handbag. Consider holding back any extra expenses for a few months to determine whether the sacrifice gets you to where you need to be financially and is palatable for you in the long term," she says. "If not, you will come to resent your nonprofit's cause and its staff, souring you on the opportunity to transition later in your career, when you may have saved up enough money or emptied your nest."
Don't settle for less. While you can expect to earn less in the nonprofit sector than in corporate America, you can try to find a job that pays towards the upper end of the nonprofit spectrum. "Consider the new social venture movement in the nonprofit sector or the for-profit ventures of nonprofits that fund their work." Gassner Otting says. Or, she suggests, "look into socially responsible businesses as a way to make the move into the nonprofit sector in stages. Socially responsible businesses are for-profit businesses that demonstrate respect for ethical values, people, communities and the environment." This could be a good compromise if you want to contribute to important causes without taking too big of a hit to your bank account.
Think ahead. As you make your list of pros and cons, perhaps you're beginning to lean toward making a change to a nonprofit career. If that's your plan, "start thinking now about your cash-flow situation. When will your financial situation allow you to make this move? What do you really need to earn? What do you really want to earn? How much do you need to put away each month now to accept a lower salary later?" Gassner Otting asks. "Answering these questions will enable you to plan your nonprofit career change with increased comfort."
Perhaps now is not the right time for a change, but with careful planning, a move in the next few years may be very manageable.
Miriam Salpeter, owner of Keppie Careers, is often quoted in major media outlets for her job search and social media expertise. Author of three books and a sought-after speaker and coach, she leverages her extensive background and successes to teach job seekers and entrepreneurs how to easily use social media marketing to accomplish their career and business goals. Salpeter also provides strategic advice and support regarding interviewing, résumé writing and personal branding.
More From US News & World Report
