Common Good Vermont is pleased to announce the publication of the Vermont 2024 Nonprofit Wages and Benefits Report. The bi-annual report is the only Vermont-specific resource for nonprofit organizations to use for objective salary information and insights into key sector staffing and compensation trends.
“Hiring and retaining great workers continues to be one of the biggest challenges nonprofits face. Understanding how our sector is changing is an essential step in planning for what comes next for nonprofits, our people, and our communities,” said Common Good Vermont Director Martin Hahn.
Key findings in the report highlight the following:
- The average full-time hourly wage increased from $28.47 in 2022’s survey to $31.63 this year, an increase of 11%. The national inflation rate for the same two-year period was 11%.
- In Vermont, 94% of participating organizations report health insurance rate increases (up from 52% in 2022), compared to eighty-five percent (85%) across Northern New England. Benefits as a percentage of wages also increased – these rising cost of benefits places difficult financial pressures on nonprofit employers and employees.
- Compensation competition (both wages and benefits) topped the list of challenges in hiring (58%), followed by access to housing/affordable housing (40%).
“It’s important to remember that the people working in nonprofits are our families, friends, and neighbors – they are deeply impacted by the same challenges they are working to address like housing, mental health, and financial insecurity. The 2024 Vermont Nonprofit Wages and Benefits Report underscores the importance of supporting the people who do the work as much as we support the work itself,” said United Way of Northwest Vermont CEO Jesse Bridges.
Several Vermont nonprofits who have used the Nonprofit Wages and Benefits Report in the past attest to its value.
“Our organization is committed to pay equity, wage transparency and paying a livable wage. When hiring for Dad Guild’s first paid positions, Common Good Vermont’s Nonprofit Wages and Benefits Report provided us with the data and information we needed to make informed decisions when establishing initial compensation rates,” said Dad Guild Executive Director Keegan Albaugh.
The survey is conducted every two years in partnership with the Maine Association of Nonprofits and the New Hampshire Center for Nonprofits.