Risk industry professionals across all levels and responsibilities in the US have received an average base salary increase of 3.5 per cent this year. In Canada, the average salary rise was 2 per cent.

Those details are among the findings in the Rims 2017 Compensation Survey. The survey is conducted every two years, and when this year’s data is compared to the previous survey, it shows that the average base salary for a chief risk officer in the US increased 11 per cent to $190,800.

In Canada, the biggest increase was an 8 per cent rise to $130,000 for directors of ERM/strategic risk management.

“In a competitive job market, it is imperative to have the tools to formulate compelling compensation programmes,” said Mary Roth, CEO of the Risk Management Society. “Understanding the elements that impact compensation and career growth, provides risk professionals with a road map for advancement.”

The 93-page survey details and analyses compensation by industry, location, and position. It also explored the impact of education, experience and demographical data on compensation.

The survey incorporated data from 781 risk professionals in the US, and 138 in Canada.

Copies of the survey can be purchased from the RIMStore at www.RIMS.org/RIMStore