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Detroit’s hiring market for nonprofit executives is following national trends. Increased CEO turnover, increased competition for qualified leaders, and nonprofit boards’ increased comfort with their organizations’ resources have resulted in higher nonprofit CEO pay.
Turnover is a significant driver of compensation. Ten out of 57 Southeast Michigan CEOs identified in last year’s annual report have since left their positions. Ed Steinhoff, Ann Arbor-based managing director at Pearl Meyer & Partners LLC, said, “We are seeing a lot more turnover in (nonprofit) executive positions than we have had in the past. It kind of goes along with a stronger economy. There are a lot more opportunities, [so] people are more likely to jump.”
Regardless of where you are and how happy you are doing what you do, it’s a good thing to be aware of the employment and compensation trends in our field as you contemplate the next steps in your career. It’s also good information to share with board members.