Risk professionals at all levels in the United States experienced an average 14.4% base salary increase in 2021 compared to 2019, while Canadian practitioners experienced an average 18.8% increase in the same period, according to the bi-annual survey RIMS 2021 Compensation Survey.
Compared to the last survey in 2019, findings from the RIMS 2021 Compensation Survey include:
- The median annual base salary for United States risk management professionals in 2021 was $135,000 up from $118,000 in 2019; and in Canada it was $120,000 up from $101,000;
- U.S. executives with the title and responsibilities most closely aligning with Director of Insurance and Risk Management saw the biggest salary increase, nearly $19,000 in the two-year period;
- Both male and female risk professionals in United States experienced similar pay increases, 14.2% and 14.7% respectively; while in Canada, women saw raises of more than double that of men – 22% increase for females versus 8.7% for males;
According to RIMS, risk management certifications and designations are held by a majority of respondents, 64% in United States and 84% in Canada.
The survey was conducted by email and disseminated to qualified RIMS professional members and non-members. The 2021 survey incorporates data from 1,039 risk professionals in the United States and 174 in Canada.
RIMS, the risk management society, offers networking, professional development, certification, and education opportunities to its membership of 10,000 risk management professionals in over 60 countries.
Topics Talent Canada Risk Management
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