2025 RIMS Compensation Survey Reveals Salary Growth in Risk Management
In North America, risk management professionals have achieved remarkable salary growth, as detailed in the RIMS 2025 Compensation Survey. The report shows a median salary increase of 11% for U.S.-based risk professionals since 2023, while Canadian counterparts experienced a more significant 15% rise. U.S. Chief Risk Officers (CROs) and Vice Presidents (VPs) of Risk Management saw a 16% uplift in median pay, aligning with industry trends that emphasize the strategic importance of risk leaders.
By 2025, the median annual base salary for risk management professionals in the United States reached approximately $160,000, up from $144,300 in 2023. In Canada, the median salary is now C$140,000, roughly equivalent to US$100,000, compared to C$122,000 previously. For those holding senior titles like Chief Risk Officer or Vice President in the U.S., the median salary climbed to $245,000, while their Canadian counterparts earn about C$225,000.
Professional Designations and Enhanced Compensation
Professional designations significantly influence compensation, with 41% of U.S. respondents and 40% of Canadian professionals acknowledging employer recognition for such credentials. Currently, 65% of U.S. risk management professionals hold at least one industry-related designation or certification, a figure that rises to 88% in Canada. This trend underscores the critical role of continuous professional development in maintaining competitive compensation in the regulatory environment.
Strategic Importance of Risk Leaders
The willingness of corporate buyers to offer premium compensation highlights the role of seasoned risk leaders in supporting regulatory compliance requirements and underwriting decisions. As these professionals engage in data-driven discussions around pricing and risk analytics, their expertise becomes essential. Insurers and brokers, focusing on claims and advisory capabilities, face increasing challenges in retaining such talent, prompting investments in internal expertise.
Gary LaBranche, CEO of RIMS, remarked on the salary trends, “There are many factors that reaffirm the immense value business leaders place on risk management, but few are more compelling than the salary increases highlighted in this year’s RIMS Compensation Survey.” He noted the contribution of risk professionals in fostering organizational growth and innovation, emphasizing their role in risk management and claims processing efficiency.
Comprehensive Insights
The RIMS survey, conducted biennially, provides an extensive analysis of compensation across diverse positions within risk management. It evaluates the impact of education, experience, and other demographic factors on earnings. Additionally, the report offers insights into reporting structures, team sizes, benefits, and additional compensation elements, providing valuable data for industry stakeholders focusing on regulatory compliance and risk management optimization.