So when are all of those baby boomers working in the nonprofit arts sector going to retire? I keep reading about the fact that they are all retiring and there will be lots of opportunities for those who are younger, and that in fact, there is going to be a great need for new leaders.
Never mind that:
- Boomers’ retirement funds lost 30-50% of their value, and the very concept of organizations providing retirement dollars in the nonprofit arts sector wasn’t even thought of by the organizations they worked for then, or now, until they were into their ‘30s;
- These boomers decided to stay in a profession at lower pay when many of their colleagues quit the nonprofit arts sector in their late ‘30s and ‘40s, so now they don’t think that they will be able to afford retirement;
- The boomers’ kids are struggling to find work if they have finished college, or are in graduate school, and their younger kids are just starting college;
- Some boomers who would have become CEO’s lost out when it became fashionable a few years ago to hire people who had retired early from the for profit sector to be the new CEO, rather than an experienced, career professional in the arts;
- It seems that the only boomers who are able to retire are those who worked in state government or higher education which are part of larger retirement plans – rather than independent nonprofits.
I’m sure the boomers can find a few more items to add to the list.
Why would people want to step aside – when they have bills to pay, passion for their work, and years of productivity ahead? Why would they step aside “when they are,” as Degas said on his deathbed,” just starting to get it” (‘it’ meaning a better salary, the opportunity to do the work they have always dreamed of doing, being able to balance personal and professional time after years of long work weeks, or however you define ‘it’)? Read the rest of this entry »
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