Fair compensation ask for nonprofit CFO succession plan + CPA in progress?
hey everyone! I need expert advice please <3
I am an accountant a nonprofit with about a $5M budget and currently make around $60k.
Context:
- This is my second job since graduating college, worked at an audit firm for ~10 months before this
- I’ve been here 3 years
- I’m currently studying for my CPA
- Leadership is training me as part of a succession plan to eventually become CFO within about the next year
- The current CFO makes around $90k
- I am definitely not as qualified or experienced as the current CFO yet, obvi
I’m being offered a raise now, plus some form of compensation when I pass the CPA, and I’m trying to figure out what’s realistic
I don’t want to be unreasonable and ask like I’m already a fully seasoned CFO, but I also don’t want to undersell myself if I’m being developed into leadership
Questions:
- What would be a reasonable raise to ask for now?
- Would you ask for a CPA passing bonus, salary increase, or both?
- Since this is a succession plan, should I be asking now about compensation expectations for the eventual CFO transition?