Compliance Officer Salary
Median pay for Compliance Officers in the United States lies in the neighborhood of $66K annually. Total cash compensation to Compliance Officers approaches anywhere from $36K on the lower end to $107K on the higher end; in exceptional cases, this can include more than $16K from bonuses and upwards of $9K from profit sharing. Earnings for this group are mostly affected by geographic location, followed by the specific employer and experience level. Medical benefits are awarded to most, and a strong majority earn dental coverage. Female Compliance Officers survey participants are more prevalent than men — 64 percent of professionals. Most Compliance Officers report high levels of job satisfaction.
|Salary||$40,818 - $105,614|
|Bonus||$295.90 - $16,496|
|Profit Sharing||$0.00 - $8,557|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$36,365 - $107,499|
|Hourly Rate||$13.18 - $28.80|
|Overtime||$14.74 - $42.80|
|Bonus||$295.90 - $16,496|
|Profit Sharing||$0.00 - $8,557|
|Total Pay (||$36,365 - $107,499|
Job Description for Compliance Officer
A company's compliance officer generally is in charge of supervising and handling issues related to compliance with laws or regulations, including making sure that the company is up to date with its licensing requirements. Often, they must report their findings to the organization's governing body and recommend any needed changes. This job is particularly essential in heavily regulated industries such as health care and financial services.Read More...
Compliance officers can work directly for the company they are servicing or for a contracting company. There are a wide range of work environments for compliance officers, who may work in an office or in the field.
This position typically requires a minimum of a bachelor's degree. Depending on the requirements of the specific field with which the compliance officer works, prior experience may be necessary. Most positions require some sort of a certification, such as a Certified Medical Compliance Officer credential for the healthcare field,or a Certified Compliance and Regulatory Professional credential for overseas banks operating in the United States. Compliance officers usually must take continuing education programs to stay up to date with laws and other information they need for effectively monitoring compliance.
Compliance Officer Tasks
- Assess product, compliance, or operational risks and develop risk management strategies.
- Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.
- Conduct or direct the internal investigation of compliance issues.
- Oversee and monitor activities for compliance with company, state and federal regulations.
Common Career Paths for Compliance Officer
Compliance Officers sometimes assume positions such as Compliance VPs. That role pays $104K per year on average. Typical career progression for a Compliance Officer involves becoming a Chief Compliance Officer or a Senior Compliance Officer, roles that pay $40K more and $13K more on average.
Compliance Officer (but not Agriculture, Construction, Health / Safety, or Transportation) Job Listings
Popular Employer Salaries for Compliance Officer
J.P. Morgan Chase & Co. (JPMCC), Wells Fargo & Co., Citibank, MassMutual Financial Group, and Ameriprise Financial, Inc. are some prominent firms with considerable interest in employing a large team of Compliance Officers. The biggest paychecks can be found at Citigroup, Inc. — the median salary there is $93K. Other employers shelling out big bucks include Deutsche Bank, Citibank, and J.P. Morgan Chase & Co. (JPMCC), where Compliance Officers typically earn around $90K, $80K, or $77K, respectively.
Wells Fargo & Co., Fifth Third Bank (5/3 Bank), and The Northwestern Mutual Life Insurance Company are a few other employers known for handing out relatively lightweight salaries ($66K, $68K, and $68K respectively).
Popular Skills for Compliance Officer
Compliance Officers report using a large range of skills on the job. Most notably, skills in Legal Compliance, Risk Management / Risk Control, Compliance, and Anti-Money Laundering are correlated to pay that is above average, with boosts between 5 percent and 11 percent. Those listing Safety Compliance as a skill should be prepared for drastically lower pay. Project Management and Trade Compliance also typically command lower compensation. Those proficient in Compliance are, more often than not, also skilled in Legal Compliance and Auditing. Most people experienced in Regulatory Compliance also know Auditing and Legal Compliance.
Pay by Experience Level for Compliance Officer
Pay by Experience for a Compliance Officer has a positive trend. An entry-level Compliance Officer with less than 5 years of experience can expect to earn an average total compensation of $54,000 based on 982 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Compliance Officer with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $66,000 based on 620 salaries. An experienced Compliance Officer which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $80,000 based on 479 salaries. A Compliance Officer with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $79,000 based on 192 salaries.
Pay Difference by Location
For those looking to make money, Compliance Officers in San Francisco enjoy an exceptional pay rate, 57 percent above the national average. Compliance Officers can also look forward to large paychecks in cities like New York (+45 percent), Los Angeles (+25 percent), Seattle (+23 percent), and Chicago (+21 percent). Houston is the lowest-paying area, 18 percent south of the national average. Workers in Atlanta and Phoenix earn salaries that trail the national average for those in this profession (17 percent less and 10 percent less, respectively).
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