A New York Charter School opening next year is promising to pay high salaries under the premise that salary and quality are correlated (see New York Times 3-7-2008).

Of course, this is not a new premise but it certainly is one worth watching -- money makes a difference in attracting and keeping quality staff.

But does it really? I don't have to go far to see nonprofit execs and staff who are magnificent and being paid fractions of their counterparts in the corporate world. Not only are these folks magnificent in broad-brush emotive strokes but actually producing and making a difference in their spheres. So, how much does money matter is the real question. I can look at hospitals and universities on the other hand (the OTHER nonprofits) and be confident I can attract equally qualified leadership for less money.

So, this New York experiment is a good one to some degree but money, I believe, is not the ONLY bottom line.