Alex Dudov
Look, when most people drop off their old clothes at Goodwill, they're not thinking about executive salaries. But the question pops up all the time: what's the CEO of Goodwill pay really like? Turns out, it's complicated—and honestly pretty interesting when you dig into it.
CEO of Goodwill Pay: What Steven Preston Actually Makes
Steven Preston runs Goodwill Industries International and pulls in about $712,000 a year total. That breaks down to roughly $532,000 in base salary, with the rest coming from benefits and retirement stuff. Yeah, it sounds like a lot for a charity boss, but hold on—let's put this in perspective.
The guy's overseeing more than 3,300 stores across North America. We're talking a network that brings in over $6.5 billion annually and helps millions of people find jobs every year. When you crunch the numbers, the CEO of Goodwill pay is literally about 0.01% of what the organization generates. Compare that to regular corporate CEOs who typically pocket anywhere from 0.5% to 1% of their company's revenue, and Preston's compensation suddenly looks pretty reasonable.
How Steven Preston Got His Start
Preston didn't waltz into the nonprofit world from day one. Back in the 1980s, fresh out of Northwestern's Kellogg business school, he landed at Lehman Brothers doing investment banking. Like any young analyst grinding it out on Wall Street, he was probably making around $40,000 to $50,000 back then—decent money for a kid straight out of grad school, but nothing to write home about.
The real money came later when he moved into private equity and climbed the ladder at First Data Corporation as an executive VP. By the late '90s, Preston was clearing mid-six figures, which made sense given he was managing serious financial operations and business turnarounds. He'd figured out how to make companies run better, and people were willing to pay for that skill.
When Preston Hit His Career Peak
Here's where things got interesting. Preston went into government during the Bush years, first running the Small Business Administration from 2006 to 2008, then jumping up to Secretary of Housing and Urban Development. Cabinet positions pay around $200,000 to $220,000—not huge money, but you're basically at the top of the government food chain.
After his government stint wrapped up in 2009, Preston became CEO of Oakleaf Waste Management. Private sector CEO gigs at solid mid-sized companies usually run between $1 million and $3 million all-in with bonuses and stock. Preston probably landed somewhere in that range while he transformed Oakleaf's operations before making the jump to Goodwill in 2019.
What the Goodwill CEO Makes vs. Corporate America
When Preston took the Goodwill job, he basically accepted a massive pay cut from what he could've earned staying in corporate America. Think about it—a CEO running a $6.5 billion retail operation in the for-profit world would be taking home anywhere from $5 million to $15 million easy.
People sometimes get fired up about nonprofit executive salaries, but the CEO of Goodwill pay is a fraction of what you'd see in normal business. Preston's total package is 0.011% of Goodwill's revenue. His estimated net worth sits around $3 million to $5 million, built up over decades of work in both private companies and government—not from his Goodwill salary.
Steven Preston's Blueprint for Success
Preston's shared some pretty solid wisdom about what actually matters in building a successful career:
- Mission beats money every time. The guy took serious pay cuts to work in government and nonprofits because he genuinely believes making an impact matters more than maxing out your bank account. He's always saying the real win is "leaving organizations better than you found them."
- Get obsessed with making things work better. Whether Preston was in banking, government, waste management, or running Goodwill, he's always focused on making operations smoother and more effective. At Goodwill, he's modernized how things run, improved job training programs, and made the finances more transparent.
- Don't stay in your lane. Preston jumped from finance to government to waste management to nonprofits—totally different worlds. That versatility made him valuable everywhere because he kept learning new stuff and could apply lessons across industries.
- Work for something bigger than yourself. Preston talks a lot about how real success means creating opportunities for other people. At Goodwill, he's all about helping people who face barriers to employment find dignified work. For him, that mission matters way more than piling up personal wealth.
The Real Story on Goodwill CEO Earnings
So what's the bottom line on CEO of Goodwill pay? Steven Preston makes comfortable money—no question—but it's actually pretty modest for someone running one of the biggest nonprofit networks in North America. His salary reflects the tricky balance nonprofits have to strike: pay enough to attract smart, experienced leaders while still honoring the trust of donors and staying true to the charitable mission.
Preston's career shows that success isn't just about the paycheck. From Wall Street to the Cabinet to nonprofit leadership, he's built a reputation for turning organizations around and actually helping people. Sure, he's not building billionaire-level wealth at Goodwill, but the impact he's making on millions of job seekers and the satisfaction he gets from the work? That seems to be what really pays off for him.
Alex Dudov
