Career Transition

kdhmps · #1 11-19-2006, 01:06 PM

I've decided that I will retain my social services career until I pass the CPA exam next fall. Is there anyone else who wants to transition out of the nonprofit/social services sector to a more lucrative profession? I enjoy social services---but I feel I would enjoy accounting, too--and have a way to earn some money. I am tired of being poor and having to live with my parents, paycheck to paycheck.

winneythepooh7 · #2 11-19-2006, 01:16 PM

I don't really know what else I would be qualified to do. I do HR stuff now (which I hear pays more money) and it's not 100% my cup of tea. I am not a math person at all so I would never do something like accounting. For now, I am happy doing what I am doing.

kdhmps · #3 11-19-2006, 01:28 PM

I knew an HR director in his early forties who earned over 90k/year. He was in the corporate sector, though. You could always transition, too. I know you have responded to many of my posts/concerns about not making any money, debt, and the nonprofit sector. I sometimes wish I wasn't such a liberal, do-gooder way back in college... I want to help people, but I don't want to sacrifice my own well-beng anymore.

SpaceMonkey · #4 11-19-2006, 03:11 PM

I'm currently working in an entry-level admin type position within the fundraising/corporate relations department of a nonprofit think tank. I've been thinking about how I could transition into the private sector if I wanted to in the future. Maybe marketing? I know that there are also for-profit companies that do assocation and conference management for non-profits, so maybe I could pursue that in the future.

kdhmps · #5 11-19-2006, 03:15 PM

I like the nonprofit sector in some ways, but I hate the fact I am not earning any money. I admit that it sure would be fun to go out and buy a BMW or heck even a Kate Spade purse without worrying about money, but just getting by in this world does require sound financial standing. If the most I can expect to earn is 40K unless I become a director, I don't see how I will ever crawl out of my student loan debt hole or even be able to rent an apartment. ha ha Living at home at 26 because my net income of $1500 goes to car and student loans....not fun anymore. Being a martyr at my age isn't cool.

winneythepooh7 · #6 11-19-2006, 05:27 PM

Quote:

Originally Posted by kdhmps

If the most I can expect to earn is 40K unless I become a director, I don't see how I will ever crawl out of my student loan debt hole or even be able to rent an apartment. ha ha Living at home at 26 because my net income of $1500 goes to car and student loans....not fun anymore. Being a martyr at my age isn't cool.

I manage a program and I don't make much more than that in Manhattan. Unless you say, are the Director of a huge agency (and who the hell wants to deal with THAT bureacracy), I don't think you will make much more than that in the human services field. I think head Social Workers in hospitals in Manhattan don't make more than $60K a year last I heard. And with the cost of living here and in the suburbs, that's not a whole heck of a lot.

AshleyJordan · #7 11-19-2006, 10:01 PM

I empathize, believe me. Almost all of my professional experience is in fundraising, and my degree is in urban planning, and I'm not making very good money either because neither field pays too well. The other benefits (four weeks' vacation to start, wonderful health coverage that's practically free, a good work environment,) are great. . . but it's really hard to make ends meet sometime. For example, the only way I can consider homeownership is because my bank offers downpayment assistance for people with "moderate" incomes. I had to really haggle to get my student loan payments down to a manageable level.

I'm thinking seriously of transitioning into the corporate sector, because I do think my skills would transfer (financial analysis, writing, limited management, and being able to bring in revenue.) At least I hope so. My other hope is that since I am establishing a pretty good track record of bringing in a lot of money to my organization, either my current employer or a similar nonprofit will compensate me accordingly. Kind of a ramble, here, because this is something I'm still trying to think through. Hell, I think I've started some of the 'leaving the nonprofit sector' posts on this board. . .

dacrunkest · #8 11-19-2006, 10:14 PM

I work in the private sector and have a friend who works for a non-profit now. I envy him. I make decent money but the work isn't that fun. He gets to work with kids all day. He makes enough to have purchased a house in South Minneapolis in a kind of neat area just south of uptown (I think his house was around $150k). If I could have a life like his I would love it. He took four days off recently to go build a house in New Orleans w/ H4H. It seems really pleasant. I think I will stay in the private sector long enough to save up for a house deposit, and then transition into something less stressful. I'm a St. Paul fan, so I would like to look for houses there...

yankeeyosh · #9 11-19-2006, 10:17 PM

Quote:

Originally Posted by winneythepooh7

I manage a program and I don't make much more than that in Manhattan. Unless you say, are the Director of a huge agency (and who the hell wants to deal with THAT bureacracy), I don't think you will make much more than that in the human services field. I think head Social Workers in hospitals in Manhattan don't make more than $60K a year last I heard. And with the cost of living here and in the suburbs, that's not a whole heck of a lot.

It's not a "lot", but I think the main thing is that you enjoy what you do...you spend 40-120 hours a week at one place; you might as well make the most of it.

That said, I think that in the metro areas of New York or boston or Chicago or the like...$50 or even $60K would still not be sufficient to purchase a home under any circumstances, whether it be a condo or house...unless you "share" the mortgage with someone else or you're OK with living hand-to-mouth.

dacrunkest · #10 11-19-2006, 10:29 PM

it seems like a lot of people in those cities prefer to live in apartments anyway...I don't blame them. I would love to give Chicago a shot.

AshleyJordan · #11 11-19-2006, 10:29 PM

Housing costs aside, the nonprofit sector is becoming more competitive and a B.A. is required for most jobs, and a graduate degree is either required or gives you an edge on many others. However, it's tough to live on those salaries with the debt that you accrue getting said education. I know my org (and its members) have started looking at debt forgiveness as an added perk in recruitment and retention of its employees.