BarkerGilmore Survey Reveals Slower Compensation Growth for Compliance Chiefs

  • Chief compliance officers’ median compensation increased by 7% to $419,000 in public companies and 12% to $250,000 in nonprofits according to a BarkerGilmore survey.
  • Finance compliance chiefs experienced no change in salary increase year-over-year at 5%.
  • Industrial and manufacturing firms saw the biggest slowdown in CCO salary increases at 2% in 2024 compared to 7% the previous year.
  • Tighter budgets due to Covid-19 pandemic and economic uncertainty contributed to slower salary increases.
  • Compliance chiefs with a law degree earned significantly higher salaries than those without.
  • 65% of CCOs at public companies, 63% at private firms, and 60% at nonprofits had low or very low interest in compensation-motivated job search.

Median compensation for public-company compliance chiefs reached $419,000 in 2024, according to a BarkerGilmore survey. The median CCO salary and bonus at private companies dropped 1% to about $300,000. Factors contributing to the slowdown include tighter hiring budgets following the Covid-19 pandemic and economic uncertainty. Compliance chiefs with a law degree commanded higher salaries, earning nearly $529,000 at public companies and $61,000 more than those without a law degree at private firms. Despite slower salary increases, most CCOs showed low interest in compensation-motivated job searches.

Factuality Level: 8
Factuality Justification: The article provides accurate information about median compensation for compliance chiefs in different sectors and industries, citing a survey conducted by BarkerGilmore as its source. It also discusses factors contributing to the slowdown in salary increases such as tighter hiring budgets, economic and political uncertainty, increased use of technology and automation, and the importance of a law degree in commanding higher salaries. The article is mostly objective and provides relevant details about the survey results.
Noise Level: 6
Noise Justification: The article provides relevant information about the median compensation for compliance chiefs and factors affecting their salaries, but it is mostly focused on discussing salary increases and the impact of certain factors such as law degrees and industry sectors. It lacks a broader analysis or discussion of the implications of these trends for businesses or society.
Key People: John Gilmore (Managing Partner at BarkerGilmore), Ash Athawale (Senior Vice President with Robert Half)

Financial Relevance: Yes
Financial Markets Impacted: The article discusses changes in compensation for compliance chiefs in various industries, which can impact hiring budgets and executive salaries.
Financial Rating Justification: This article is financially relevant as it discusses the median compensation for compliance chiefs in different sectors, including public companies, nonprofits, and private companies. The information provided can have an impact on companies’ hiring decisions and budget allocations for executive positions.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
Move Size: No market move size mentioned.
Sector: All
Direction: Down
Magnitude: Small
Affected Instruments: Stocks

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