Thursday, October 18, 2018
Hey Fletch … I am currently a pastor and am up for a new position at another church. I am going to have another interview with the Finance Committee soon and wonder your thoughts on negotiating salary. I also don’t know if you have a formula on figuring out the bring-home pay. I really worry about that because that is what matters to pay the bills. Thanks for your time!
DRF—Congratulations on the possibility of a new position. When you meet with their Finance Committee, it is a good time to talk total compensation. Consider various factors:
- Base salary
- Benefits, such as medical, dental and life insurance
- Cost for participation in the medical plan
- Federal, state and local taxes
- Cost of living differences between your city and the new one
The formula is to add up the salary and benefits. See what the taxes will be on the salary, and compare that to what you make. Can you live in the new city on the salary that they are offering?
As for comparative salaries, you can get XPastor’s Compensation Survey. This is a low cost way to see what churches of various sizes around the country are paying their pastors. My book, Smart Money for Church Salaries, will also be of help to you.