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Gamut of Risk Management Compensation Revealed

Claims News Service, Sept. 30, 2:49 p.m. EST -- Risk and Insurance Management Society (RIMS) has released the findings of the 2008 Risk Management Compensation Survey, the fifth iteration of the

By Christina Bramlet | Updated on September 30, 2008

Claims News Service, Sept. 30, 2:49 p.m. EST — Risk and Insurance Management Society (RIMS) has released the findings of the 2008 Risk Management Compensation Survey, the fifth iteration of the not-for-profit organization’s annual survey. RIMS, which represents more than 4,100 organizations in 48 countries, opted to include compensation information for chief risk officers for the first time this year, as well as various other senior risk management levels.

According to the survey, the average base salary for a chief risk officer/vice president of a U.S.-based company hovers around $170,683. The data was compiled by enetrix(R), a provider of online survey services and e-commerce solutions. The study reflects the base salary and incentive data for 11 industry-specific jobs categorized by company size (based on full-time employees and annual revenues); risk management department size; industry; and geographic location.

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