Compliance Analyst Salary
Compliance Analysts in the United States can expect to earn an average of $55K per year. Total cash compensation to Compliance Analysts approaches anywhere from $36K on the lower end to $80K on the higher end; in exceptional cases, this can include more than $10K from bonuses and upwards of $4K from profit sharing. The most important factor affecting compensation for this group is the particular firm, followed by the particular city and years of experience. A large number report receiving medical coverage from their employers and most collect dental insurance. Job satisfaction for Compliance Analysts is high. The majority of Compliance Analysts (61 percent) who took the survey are women. The information for this rundown comes from respondents who completed 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 who transition into a VP of Compliance role may receive large pay increases as the latter position pays an average $104K per year. More often than not, a Compliance Manager role is the next step for Compliance Analysts moving up in the field. Compliance Managers usually make $74K per year. Many other Compliance Analysts choose to take on a Compliance Specialist role, where salaries are typically $48K.
Compliance Analyst Job Listings
Search for more jobs:
Popular Employer Salaries for Compliance Analyst
Dominating the field, J.P. Morgan Chase & Co. (JPMCC), American Express Co. (AMEX), Citibank, Universal American Corp., and Bank of America Corp. (BOFA) are top firms with a reputation for hiring a great number of Compliance Analysts. The biggest paychecks can be found at Automatic Data Processing, Inc. (ADP) — the median salary there is $63K. Those in search of high salaries should also consider Citigroup, Inc., Western Union, and American Express Co. (AMEX), top-paying firms where Compliance Analysts rake in a respectable $61K, $59K, or $57K, respectively.
Also sliding in at the lower end of the scale are Bank of America Corp. (BOFA) ($48K), M&T Bank Corp ($48K), and Universal American Corp. ($50K).
Popular Skills for Compliance Analyst
Survey respondents exploit a significant toolbox of skills in their work. Most notably, skills in Legal Compliance, Project Management, Risk Management / Risk Control, and Legal Research are correlated to pay that is above average, with boosts between 7 percent and 9 percent. Skills that pay less than market rate include Database Management & Reporting and Data Analysis. Those familiar with Compliance also tend to know 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 a lot of experience do not necessarily enjoy more money. Salaries of relatively inexperienced workers fall in the neighborhood of $51K, but folks who have racked up five to 10 years see a notably higher median of $59K. People with 10 to 20 years of experience make an average of about $61K in this role. Compliance Analysts who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $66K.
Pay Difference by Location
Surpassing the national average by 25 percent, Compliance Analysts in San Francisco receive some of the highest pay in the country. Compliance Analysts will also find cushy salaries in New York (+23 percent), Philadelphia (+15 percent), Charlotte (+14 percent), and Chicago (+14 percent). Phoenix ranks last in the field for pay, reporting salaries 6 percent below the national average. Employers pay around 4 percent less in Denver and 3 percent less in Atlanta, below-median salaries for those in this field.
Related Job Salaries
Key Stats for Compliance Analyst
Rated 5 out of 5
based on 205 votes.