Survey reveals legacy professionals feel undervalued
Many legacy professionals say they feel undervalued despite some increases in salary and business investment over the last year.
According to a survey carried out by TPP Recruitment on behalf of the Institute of Legacy Management, the average salary for a legacy administrator is £24,351, rising to £45,177 for Head of Legacies. The majority of legacy professionals (64%) said they felt salaries in the sector had stayed the same over the last year, and one quarter (25%) said they had increased a little. 35% of people said their team had increased in size in the last year, and 58% said their team size had remained the same.
The survey also discovered that just over one in ten legacy professionals (12%) is a qualified solicitor.
Chris Millward, Chief Executive of the Institute of Legacy Management, says:
“The number of legacy professionals who commented that they felt undervalued adds to the conversation about the need for charities to attract, retain and develop these vital employees. This is particularly important in the face of an ever increasing number of legacy gifts. Now, more than ever, charities need people who know what they’re doing and can do it well.”
The survey also found that legacy professionals cite training and development, and wanting more responsibility, as a reason for looking for a new job, more than fundraisers generally. For fundraisers, training and development was selected as the least effective motivator for looking for a new job, whereas for legacy professionals it was the fourth biggest motivator.
Milward continued: “This suggests a lack of career progression and opportunity for development could result in worrying retention issues for some charities.
“For all these reasons, the value of the profession needs to be recognised more widely. At the Institute of Legacy Management we will be developing a new framework for training for our members, to ensure we are supporting legacy professionals and their organisations in the most appropriate way.
“We have introduced new courses to our 2018 training calendar to strengthen development opportunities for legacy professionals, and we will continue to engage with senior stakeholders across the sector to highlight the issues and work towards solutions.”