Mulla, Mulla, Mulla: What’s the $ Reality of Social Enterprises?
In a previous Weekly Ponder that dealt with how much “impact” we expect doing good to have on our wallet, the poll results suggested the majority of people do actually care about “doing good and doing well” when it comes to working for social enterprises or NGOs in terms of expecting to make a good living, too. Not only did they care, but they also seemed to agree that the level of pay seems relatively low and unattractive at present.
I’ve since then had a chance for a few good conversations with fellow Good Generation members here and there over a cup of coffee or dinner on the subject of compensation. We agreed that while NGO studies have been around for a while, there exists too little transparency and research in the relatively recent field of for-profit social enterprises on what salary levels currently are and whether this has been adequate to attract and retain talent lured by the call to “do good and do well”. More enigmatic even to me is what the expected progression should be for someone within 2, 5 or even 10 years of working for a social enterprise. The assumption of some people remains that a social enterprise should pay better than the traditional NGO because it’s more like a “business”. Interesting! But is it true?