2023 RIMS Risk Management Compensation Survey

The 84-page survey provides detailed compensation analysis by industry, location, and position for virtually all risk professional positions. The survey also demonstrates the impact of education, experience, and certain demographics on compensation, as well as benefits and additional cash compensation programs available to practitioners.

Key findings:

• Compared with one year previous, U.S. risk management professionals saw a 4.9% average increase in base salary as of September 1, 2023.
• Education, experience, and supervisory responsibility each tend to correlate positively with salary. Those who supervise (directly or indirectly) 20 or more individuals typically earn $78,000 more than those who do not supervise others.
• Males tend to earn more than females, but they tend to have higher levels of education, slightly more experience, and are more likely to have supervisory responsibility.

The survey was conducted by email and disseminated to qualified RIMS professional members and non-member risk professionals. It comprises data from 1,137 completed surveys submitted by full-time risk professionals and offers findings for five different risk management job titles. The 2023 RIMS Risk Management Compensation Survey incorporates data from 949 United States and 187 Canadian risk professionals.