I was startled to hear a morning radio report last week that Not-for-Profit CEO’s were paid on average $224,000 a year.
What? I said. But it turns out that was one very misleading report!
What the item didn’t make clear was that the figure of $224,000 related only to the largest 17 of New Zealand’s Not-for-Profits – all multi-million dollar businesses.
And even more importantly, those 17 CEO’s were still likely to get up to 30% less than their private sector counterparts.
And that’s the same for all Not-for-Profit CEO’s large and small.
This information was drawn from a Strategic Pay report. (Strategic Pay is a remuneration and performance management research firm. ) Their report was called “Passion and Purpose: What drives CEOs in the Not for Profit Sector”
The report showed that CEOs in this sector were driven by the need to make a difference rather than their own personal financial reward.
Strategic Pay has since issued a press release clarifying this message.
For further information check it out on Scoop’s Business Pages – it’s called “CEOs lowly paid in Not For Profit sector – up to 30% less”