The problem, though, is that these candidates are one in a million – and everyone’s fighting for them,” he continues. “Risk management is not a crystal ball, but it helps organizations execute their strategies more effectively and increase their odds of success – so companies are increasingly seeking out qualified risk leaders who can add this kind of value. With the roller coaster they’ve been on in the last few years, organizations are committed to limiting the number of disruptions and missed opportunities – and effective risk management paves a path forward,” explains Mark Beasley, Poole College KPMG Term Professor of Accounting and director of NC State’s Enterprise Risk Management Initiative. But now, more than ever, companies recognize the critical role that risk management plays. It all comes down to a sharp increase in demand for risk leaders – plus a lack of risk expertise around the globe. Meanwhile, in Australia, Kaizen Recruitment reports that average base salaries for entry-level risk and compliance roles increased from $60,000 to $90,000 between 20. In Canada, risk professionals experienced an average 18.8% base salary increase in 2021 compared to 2019 – with the median annual base salary rising from $101,000 to $120,000, the survey reports. directors of insurance and risk management, or executives with similar responsibilities, saw the biggest salary jump – with a hefty $19,000 increase in two years.Īnd the pay increase extends beyond U.S. In 2021, the median annual base salary for these practitioners climbed to $135,000 – up from $118,000 in 2019.Īnalyzing compensation for risk professionals across several positions, industries and regions, the survey found that U.S. Suddenly, hiring websites were congested with job postings for risk leaders – and within a short time, compensation for risk professionals reached new heights.Īccording to the RIMS 2021 Compensation Survey, risk professionals across the United States – of all levels and responsibilities – saw an average 14.4% increase in base salary in 2021 compared to 2019. On the heels of widespread shutdowns, broken supply chains and economic fallout, millions of organizations around the globe made the same decision: to invest in a more resilient future.
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