National Underwriter P&C's annual Risk Manager Compensation Survey, conducted in conjunction with Logic Associates (a premier executive-recruiting firm for risk managers), reflects the responses of hundreds of risk-mitigation professionals queried on everything from compensation package details and areas of direct responsibility to job satisfaction and professional perks.

SALARY & BONUS FIGURES

Risk manager total compensation packages slipped again this year, continuing a trend that began in 2012 when that total was $148,286 and then fell to $130,535 in 2013. Bonuses were up in 2014, from $13,339 in 2013—but still well below the average-bonus figure reported in 2012 ($27,911).

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Mind the Gap

Male risk managers still display an advantage, salary-wise, over their female contemporaries: This year's survey exhibited a $28,540 disparity in average salary between female and male risk managers—down slightly from $29,601 last year.

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Still the “Sweet Spot”

Risk managers at companies in the revenue niche of $1 billion to $2 billion continue to boast higher salaries and bonuses (with an average total compensation of $181,559) than those at companies of up to $7 billion. Only RMs at companies with $7 billion or more enjoy larger compensation packages.

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The 10 industry sectors featured here are listed in order of the greatest number of respondents to our survey. Risk managers in the manufacturing industry top the compensation-package list among the highest number of respondents, with an average total salary of $173,798.

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Compensation by Job Satisfaction

What's the difference between RMs feeling “satisfied” and “very satisfied” with their job positions? About $38,500.

Average base salaries saw some year-over-year fluctuation, most notably in the 61 to 65 age bracket—where salaries gained an average of at least $17K among this year's respondents.

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