The biggest U.S. nonprofits gave their top executives a median pay raise of 6.2 percent, The Chronicle of Philanthropy reported in it Sept. 21 issue.
The increase – meaning half the 240 groups responding to a survey gave more, and half gave less – was fueled mainly by the thriving economy, which prompts nonprofits to compete with accelerating salaries in the for-profit world, the Chronicle said.
The median pace of raises in 1999 was up from 5.7 percent in 1998. Adjusted for inflation, median raises totaled 4 percent each year.
The Chronicle survey found that nonprofit gave slightly bigger raises to newly hired chief executives than to those already on the job.
At 29 groups that hired new chiefs, the newcomers’ pay exceeded that of their predecessors by a media 7.5 percent.
The media boost for those still on the job was 6 percent.
For full story, go to The Chronicle of Philanthropy.