VPs of Risk Management represent the higher end of the earnings spectrum — in fact, median pay for this job is the highest at $157K annually — though VPs of Finance, Compliance Managers, and Senior Compliance Officers also do fairly well at about $150K, $122K, and $105K, respectively. Near the bottom at HSBC are Business Operations Managers, pulling in an average of just approximately $55K.
When it comes to location, the highest average paycheck (around $135K per year) can be spotted in Chicago, Ill.; San Francisco, Calif. ($125K), New York, N.Y. (approximately $119K), and Jersey City, N.J. (about $116K) are the next top-paying cities. Expected earnings are below average ($74K) in Buffalo, N.Y., one of the lowest-paid cities. By state, New Jersey offers the highest pay at around $116K annually.
Years of Experience
For those who claim five to nine years of work experience, pay on average amounts to $89K per year. Between the one and five year mark, median pay is approximately $66K annually. The greater proportion of employees (38 percent) report 10-19 years of experience and bring home median pay of about $110K per year.
Certifications and Degrees
Monetary compensation comes to $140K annually for Certified Public Accountants, far surpassing the earnings of non-credentialed workers. On average, salaries rise to around $132K per year for accredited Chartered Financial Analysts. At HSBC, employees who hold a Master of Business Administration (MBA) receive the highest salaries at $187K.
Employees who count Risk Management / Risk Control among their skills enjoy higher pay; the median for this group is $130K annually. One of the more prevalent skills at HSBC is Customer Relationship Management, with about a tenth considering it a key competency. Microsoft Excel, Sales, and Project Management round out the set of key employee skills.
Benefits and Perks
A fair number of workers plan for retirement by taking advantage of the company-sponsored 401(k) program. The vast majority of workers receive health insurance, and a large number of respondents get dental coverage. The company also dishes out perks such as tuition reimbursement, a subsidized cell phone, a stock purchase plan, a casual working environment, and life insurance.