DMcFadden
Puritanboard Commissioner
I was researching the topic for other reasons and came across some interesting conclusions based on a recent Compensation Handbook for Church and Staff.
Comments? Interpretations?
1. If you want to earn more, change denominations.
Briefly, if you want to earn more as a senior pastor, become a Presbyterian. If you want to earn more as a youth pastor, become a Baptist.
2. Female solo pastors earn more than male solo pastors.
Okay, so there aren’t many female solo pastors; in American churches responding to our survey, only 6 percent of solo pastors are women. Still, it’s intriguing that female solo pastors reported 10.4 percent higher total compensation. Their average salary was 8.6 percent higher than men’s; and better housing and retirement benefits made up the rest.
3. That additional degree is probably worth it.
Wondering whether to finish your master’s or doctorate? Even in pastoral ministry, from a financial standpoint, the answer is yes.
Roughly stated, moving from a bachelor’s degree to a master’s degree boosts your income from 10 to 20 percent, and getting your doctorate gets you 15 percent more on top of that. Or here’s another way of looking at it . . . if you’re going to serve with that degree for five or more years, you’ll probably end up ahead.
Comments? Interpretations?