RM Salary Depends On Where You Work

Before marching into the bosss office to demand a raise based on national salary trends, risk managers need to consider the type of industry they work in as well as the size of their particular firm, the professions leading job placement expert advises.

Indeed, while the annual “Risk Management Compensation Survey”conducted by Logic Associates Inc. in New York and co-sponsored by National Underwriteroffers valuable nationwide benchmarks, risk managers should drill down further into the surveys results to check out salary and bonus standards for their particular field, location and company revenue category, noted Bill Perry, Logics president.

For example, this years survey found that the average salary for risk managers at firms doing less than $200 million in revenue was $88,875. However, those working at chemical companies of that size reported a $112,500 annual salary, while those in the food industry came in under the national benchmark at $83,648.

At the other end of the spectrum, risk managers at firms with over $15 billion in revenue reported an average salary of $248,582. However, those working at communications companies of that size did a lot betteraveraging $284,165while those in the construction industry reported a much lower average salary of $188,225. There are similar discrepancies among bonus levels as well.

This week, NU publishes the salary results from the nationwide sample, plus breakdowns for risk managers in six industries. In NUs July 19 “Corporate Insurance Buyers Report,” six additional industries will be profiled.

(Copies of the complete survey results may be ordered for $85 from Logic Associates, 67 Wall St., 22nd Floor, New York, N.Y. 10005. Orders may also be placed by phone at 212-227-8000, or via e-mail at [email protected].)


Reproduced from National Underwriter Edition, June 4, 2004. Copyright 2004 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.


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