The annual risk managers salary survey conducted by NU in partnership with Logic Associates, a leading industry job-search firm, asked 355 risk managers to tell us about their compensation packages (see pages 19 & 21)—and about other key elements of their jobs, such as education levels, reporting structures and overall satisfaction (see pages 22 & 24).
A key finding this year is that the tough economy did take its toll on total compensation, with both salaries and bonuses dropping.
But despite a generally weak job market in the U.S., few layoffs were experienced in the risk-management departments represented in our survey—but few firms were hiring, either. The pace of hiring could pick up in October of this year, predicts Bill Perry, president of Logic Associates. “The corporate world is making money now, and we should see some growth in what have become very lean risk-management staffs,” as fiscal 2012 budgets kick in.
For risk managers looking to distinguish themselves in the job—and compensation—market, a key selling point is international expertise. “As more companies go global, the demand today is becoming much greater for risk managers with international expertise,” says Perry. Also, “the better risk managers will always make themselves more visible,” he adds. “It's important they go out there and show the value of the programs they put together—captives, D&O, workers' comp.”
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