Updated May 9, 2024
We are proud to share Taproot’s newly updated Pro Bono Hourly Valuation, a calculation that estimates the market value of each hour of service provided by a skilled volunteer. First released in 2009, the valuation is an essential tool for stakeholders across the sector as they measure the contributions of pro bono service. While enthusiastic qualitative data is easy to collect when we speak with partners, the Pro Bono Hourly Valuation offers an opportunity to quantify this impact by assigning a dollar amount to the time of skilled volunteers.
Updated for the first time since 2019, the new Pro Bono Hourly Valuation was calculated based on the 2024 Salary Guide from Robert Half as well as salary and wage data from the U.S. Bureau of Labor Statistics. Averaged across various professions, the current valuation is $220 per hour, up 18% from 2019, underscoring the growing significance of pro bono contributions.
The Pro Bono Hourly Valuation is an important tool to allow nonprofits and foundations to quantify for their stakeholders the value of the in-kind resources and contributions made by skilled volunteers. For companies and corporate social responsibility (CSR) professionals, the valuation offers insight into the magnitude of value their employees’ service provides. Individual volunteers also benefit tremendously from understanding the dollar value of how their time can help illustrate the benefit their service represents.
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