http://news.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20110208-262377.html
Charities pay more for talent
Tue, Feb 08, 2011
AsiaOne
NON-PROFIT organisations are attracting top talent these days with attractive payscales for their key personnel.
The Straits Times reported that National Kidney Foundation (NKF) and Ren Ci Hospital & Medicare Centre - and religious organisations to be the best paymasters after a check of the websites and annual reports of such organisations.
At the end of NKF's financial year it was reported that 10 key personnel drew salaries between $100,000 to $300,000, annually.
NKF's spokesperson revealed that the highest earner received an annual remuneration said to be in the region of $250,001 and $300,000.
The Straits Times believes that Dr Mooppil Nandakumar receives the above amount. He is head of medical services and is responsible for the charity's 2,774 kidney patients and beneficiaries.
A managing director in the private sector can expect a salary in the region of about $310,600. The spokesperson justified the salary claiming that it was vital to attract the best persons for the job with a competitive pay scale.
Religious organizations pay well too if City Harvest is to be the benchmark.
Its online financial statements for the financial year that ended in October 2009 indicate that close to a quarter of its $40 million in expenses went to staff salaries and allowances. A rough calculation shows the average annual remuneration of each of its workers to be almost $62,000.
However, key personnel at charity organizations that provide social services earn about half the amount as those above.
Tim Oei, who heads the Asian Women's Welfare Association (Awwa) took a 30 per cent pay cut from his former job as a lawyer to join the organization.
Awwa runs a special school and a community home for the destitute elderly, among other services, and two staff members are paid between $100,001 and $150,000 each, and one, more than $150,000. Charity Council chairman Fang Ai Lian said charities should 'professionalise themselves' and pay for talent.
Associate professor Mak Yuen Teen, who headed the committee which fine-tuned the Charity Council's code of governance agreed, citing the fact that a gross disparity in remuneration will make it difficult for charities to hold on its best talent.
Charities pay more for talent
Tue, Feb 08, 2011
AsiaOne
NON-PROFIT organisations are attracting top talent these days with attractive payscales for their key personnel.
The Straits Times reported that National Kidney Foundation (NKF) and Ren Ci Hospital & Medicare Centre - and religious organisations to be the best paymasters after a check of the websites and annual reports of such organisations.
At the end of NKF's financial year it was reported that 10 key personnel drew salaries between $100,000 to $300,000, annually.
NKF's spokesperson revealed that the highest earner received an annual remuneration said to be in the region of $250,001 and $300,000.
The Straits Times believes that Dr Mooppil Nandakumar receives the above amount. He is head of medical services and is responsible for the charity's 2,774 kidney patients and beneficiaries.
A managing director in the private sector can expect a salary in the region of about $310,600. The spokesperson justified the salary claiming that it was vital to attract the best persons for the job with a competitive pay scale.
Religious organizations pay well too if City Harvest is to be the benchmark.
Its online financial statements for the financial year that ended in October 2009 indicate that close to a quarter of its $40 million in expenses went to staff salaries and allowances. A rough calculation shows the average annual remuneration of each of its workers to be almost $62,000.
However, key personnel at charity organizations that provide social services earn about half the amount as those above.
Tim Oei, who heads the Asian Women's Welfare Association (Awwa) took a 30 per cent pay cut from his former job as a lawyer to join the organization.
Awwa runs a special school and a community home for the destitute elderly, among other services, and two staff members are paid between $100,001 and $150,000 each, and one, more than $150,000. Charity Council chairman Fang Ai Lian said charities should 'professionalise themselves' and pay for talent.
Associate professor Mak Yuen Teen, who headed the committee which fine-tuned the Charity Council's code of governance agreed, citing the fact that a gross disparity in remuneration will make it difficult for charities to hold on its best talent.
