Employment opportunities for foreigners is limited. Since the country has a strongly agricultural and touristic economy, it can be difficult finding employment prospects.
One job of particular interest to foreigners is teaching. If you are a native English speaker and have a bachelor's degree, you can teach at any major Nicaraguan university. The same also applies for other fields. Be aware, however, that courses and majors at Nicaraguan colleges and universities are limited. However, a degree can help you secure a good job and enough spending money during your stay. Instructors earn about US$500 a month and have plenty of free time to roam around. Opportunities have also become available for other languages, particularly romance languages. However, if you desire to teach a course other than English, it is best to consult with the university of your choice and see if they are willing and able to have you teach your course. If this is something you wish to do, you are advised to create a syllabus in advance. It can help you, the applicant, obtain the position faster and easier compared to not having any material at hand available.
Foreigners also enjoy volunteering. In Nicaragua, there are various opportunities for community service. Most of the organizations in Nicaragua can be used in obtaining community service hours for any organization or any college/university requirement. Look into organizations like the Fabretto Foundation (http://www.fabretto.org). Abundance Farm (http://abundancefarm.com), a small family-run farm in Carazo, accepts volunteers but screens them through email prior to arrival. It is a taste of the real Nicaragua and not for the faint at heart.