As the threats faced by businesses continue to grow ever-more complex, the spectrum of responsibilities handled by risk managers widens in tandem. And while that greatly expanding portfolio of challenges is not necessarily reflected in ballooning compensation packages, salaries in the field do remain steady—and job satisfaction remains high.
NU’s annual Risk Manager Compensation Survey, conducted in partnership with Logic Associates, a premier executive-recruiting firm for risk managers, gathered data on compensation packages and professional perks and also inquired about other vital elements of their risk-management jobs, such as reporting structures and education levels.
Overall average salaries, the survey revealed, are up just slightly ($1,000) to $120,375, while average bonuses increased $6,868 to $27,911.
Bill Perry, president of Logic Associates, says one way risk managers can stand out in the marketplace and command a salary premium is by having ample experience managing global risks: “It all comes back to international. All risk managers should strive to get international experience and exposure.”