Compliance Analyst Salary
Median pay for Compliance Analysts in the United States is around $55K annually. Overall cash earnings for Compliance Analysts stretch from $36K on the lower end to $80K near the top, and the heftiest packages can encompass around $9K from bonuses and $4K from profit sharing. Earnings for this group are mostly affected by the particular firm, followed by geography and experience level. Female Compliance Analysts are more common than men among those who completed the survey; more than half (61 percent) are women. Job satisfaction is high and work is enjoyable for most Compliance Analysts. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to a strong majority. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
Job Description for Compliance Analyst
Compliance analysts are responsible for ensuring that compliance has been achieved inside and/or outside their organizations.Read More...
In a retail setting, compliance analysts ensure that organizations have met vendor specifications for certain merchandise. For example, a compliance analyst may check how running shoes are displayed in the store to ensure they match the shoe brand's display guidelines. Compliance analysts work with organizations, sales and operations departments, and store managers to facilitate any necessary changes. In some cases, compliance analysts are responsible for issuing fines to non-compliant companies.
Compliance analysts can also be responsible for compliance in a non-retail setting. For example, a compliance analyst in a corporation may be responsible for checking that all employees have attended a mandated training or that all new employees have been processed correctly. A compliance analyst in the education sector may check to see that employees are complying with certain special education requirements.
Compliance analysts can also work in healthcare, insurance, government, and many other sectors. Because this career exists in multiple industries, hours, overtime, and travel requirements vary. However, a retail compliance analyst travels often to specific stores within a district to ensure compliance.
Compliance analysts' job requirements will vary depending on the industry in which they are employed, but most positions require a bachelor’s degree and a few years of experience in the field. Compliance analysts usually need computer skills, and they often do a great deal of data entry. Compliance analysts must be well-organized and have a thorough understanding of the guidelines they oversee. Most analysts are responsible for multiple products or procedures and should understand each thoroughly.
Compliance Analyst Tasks
- Aggregate, process, and distribute compliance-related data.
- Support implementation of compliance policies and procedures.
- Evaluate organizational compliance performance.
Common Career Paths for Compliance Analyst
Compliance Analysts' salaries may rise greatly for those who assume a higher-end position such as a VP of Compliance. The average VP of Compliance brings home $103K per year. The most common promotion for Compliance Analysts is Compliance Manager, a position that typically pays $74K annually. Another standard transition for Compliance Analysts seeking advancement is to assume a Compliance Specialist role, where pay is often $48K.
Compliance Analyst Job Listings
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Popular Employer Salaries for Compliance Analyst
J.P. Morgan Chase & Co. (JPMCC), Citibank, Universal American Corp., American Express Co. (AMEX), and Bank of America Corp. (BOFA) are among the top companies that take on many Compliance Analysts. Compliance Analysts flock to Automatic Data Processing, Inc. (ADP) for generous paychecks, where average earnings of $63K lead the pack in compensation. Other big spenders include Citigroup, Inc., Western Union, and Citibank, top-paying firms where Compliance Analysts see paychecks nearing $60K, $59K, or $56K.
Others at the bottom of the scale for this job include Bank of America Corp. (BOFA) at $45K, M&T Bank Corp at $48K, and Universal American Corp., where $50K is the norm.
Popular Skills for Compliance Analyst
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Project Management, Legal Compliance, Regulatory Compliance, and Legal Research are correlated to pay that is above average, with boosts between 5 percent and 9 percent. Skills that seem to negatively impact pay include Database Management & Reporting and Insurance. Those proficient in Compliance are, more often than not, also skilled in Data Analysis.
Pay by Experience Level for Compliance Analyst
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Compliance Analysts with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have less than five years' experience make $51K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $59K. Compliance Analysts see a median salary of $60K after reaching one to two decades on the job. As Compliance Analysts reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $65K.
Pay Difference by Location
For Compliance Analysts, San Francisco provides a pay rate that is 26 percent greater than the national average. Compliance Analysts can also look forward to large paychecks in cities like New York (+25 percent), Philadelphia (+15 percent), Chicago (+10 percent), and Boston (+10 percent). The smallest paychecks in the market, 11 percent south of the national average, can be found in Richmond. Employers pay around 11 percent less in Tampa and 7 percent less in Newark, below-median salaries for those in this field.