Risk management salaries are higher “across the board,” but job security in this troubled economy depends on several factors, including just how far risk managers have come in proving their worth, a board member of the Risk and Insurance Management Society warned.
The highest-paid risk management position, at nearly a quarter of a million dollars, is chief risk officer/vice president-risk management, according to the “2008 Risk Management Compensation Survey,” put together by the New York-based RIMS.
CROs are averaging a salary of $170,683 and total compensation of $220,233, while risk analysts are on the lower end of the profession's totem pole, averaging $51,852, with total compensation of $54,485.
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