Some—but not all—not-for-profit executives took pay cuts in 2008, according to the Chronicle of Philanthropy’s
annual salary survey.
The median pay for chief executives at organizations surveyed rose from $330,395 in 2007 to $361,538 in 2008. The Chronicle’s annual survey covers 325 large foundations and not-for-profits, including hospitals and universities. However, only 253 organizations provided compensation data for both 2007 and 2008.
Among the 195 groups responding to the Chronicle’s question about pay cuts, 57, or 29 percent, said their top executive had taken a pay cut, declined a raise or bonus, or had pay frozen.
The median pay cut was 10 percent, the Washington, D.C.-based Chronicle reported.
At least two of the six best-paid executives—Glenn D. Lowry, director of the Museum of Modern Art, and Peter Gelb, general manager of the Metropolitan Opera Association, both in New York—said they’re taking pay cuts. The other four did not respond to the question.