Ignoring for now the severance package, the salary seems pretty low for a CEO of such a large foundation. $400-500K is about the salary range of a senior-staff engineer at FAANG and their responsibility is way lower.
One of the issues with non-profits is that people expects the employees/management to be there for the cause and to be happy with lower salaries. This seems to incentives IMO one of the following:
- only already rich people to apply
- high turnover
- people with less experience or options to apply
Having a generous severance package that for example requires you to work for at least x amount of years might solve some of those pitfalls?
This spells it out. This is foundation is spending tens of million on salaries and sitting on a quarter billion in assets. That's some spectacularly inefficient spending no matter how you look at it. I would call it shameless. And then they do the yearly thing of holding out their hand for donations because boohoo all the money is gone. Again!
But at least they are transparent about enriching themselves.
A senior staff engineer at FAANG makes decisions on the implementation of features which have effects on 8+ digits of revenue. It's mostly downside risk: if you don't do it right, then the lack of availability costs a lot.
One of the issues with non-profits is that people expects the employees/management to be there for the cause and to be happy with lower salaries. This seems to incentives IMO one of the following: - only already rich people to apply - high turnover - people with less experience or options to apply
Having a generous severance package that for example requires you to work for at least x amount of years might solve some of those pitfalls?