The Risk and Insurance Management Society, Inc. (RIMS) is pleased to present the results of our 2008 Risk Management Compensation Survey. With nearly 11,000 individual members representing more than 4,000 organizations in 48 countries, RIMS is a not-for-profit professional society dedicated to advancing the practice of risk management, a professional discipline that protects physical, financial and human resources. The survey was conducted by enetrix, a survey management firm located in Middleton, WI.
The 2008 survey presents compensation data for 11 different jobs; this year, for the first time, we have included information on Chief Risk Officers as well as other senior-level risk management positions. While fourteen different positions were listed on the survey document, there was insufficient data for analysis on three of them. The results reflect data submitted by individual risk management professionals working in 1,495 organizations in the United States and 171 organizations in Canada. In total, 2,180 surveys were completed online by RIMS members between May 5 and June 30, 2008.
This survey is the fifth in an annual series conducted by the Risk and Insurance Management Society, Inc. Risk Managers who responded to and completed the survey received one copy, in PDF, at no cost.
The report includes base pay and incentive information for 15 key positions including:
- Chief Risk Officer/Vice President-Risk Management
- Director-Enterprise Risk Management (ERM)
- Director-Financial Risk Management (Commodity, Credit, Interest Rates, and/or Foreign Currency)
- Director-IT Risk Management
- Director-Insurance and Risk Management
- Manager-Insurance Management
- Employee Benefits Manager
- Claims Manager
- Workers' Compensation Claims Manager
- Business Continuity Manager
- Safety Manager
- Risk Management Analyst (Enterprise-Wide)
- Risk Management Analyst (Financial risk-Commodity, Credit, Interest Rates, and/or Foreign Currency)
- Risk Management Analyst (Insurance)
- Claims Analyst
Is your compensation structure competitive? To make sure, you should order a copy of the 2008 RIMS Compensation Survey, available as a downloadable PDF.
Didn’t contribute data this year? You can order a PDF copy online at 2008 Compensation Survey for $250 for RIMS members (membership must be current as of September 30, 2008) and $750 for non-members.
This survey is available only as a downloadable PDF—instructions for access will be e-mailed upon receipt of payment.
If you are not the designated RIMS deputy member (representative) and instead, a member of your organization's human resource team, please have the deputy member order the publication for you using his or her membership number or contact RIMS at 212-655-6040 to order.