Corporate Compliance

2010 Compliance Officer Salary Survey Results: Part one

Compliance Monitor, June 2, 2010

This is the first article in a two-part series detailing the results of the Compliance Monitor 2010 Compliance Officer Salary Survey. Next week we’ll report on bonuses and incentives, financial reductions, and work satisfaction.

The salary survey received 847 responses from all over the country. Thank you to all who participated.

Education

There is a vast female population in the world of compliance (78% of all respondents), but regardless of gender compliance officers are highly-educated professionals, according to survey results; 90% said they received at least one form of collegiate degree, with 26% culminating in a Bachelor’s degree and 36% obtaining their Master’s degree. Those who held only an Associate’s degree represented 9% of the participants. An additional 12% of survey respondents hold Doctorate degrees.

Also notable is that 15% of compliance officers attained law degrees on their way to becoming compliance officers. The law pays, as the majority of surveyors with these credentials received upwards of $160,000 as their salary last year.

The overall pay range for compliance officers varied dramatically, but the majority  fell into the $60,000–$89,999 range. Approximately 12% of the survey respondents fell into each of the following ranges: $60,000–$69,999, $70,000–$79,999, and $80,000–$89,999.

The graph below details compliance officers’ pay range in relation to educational achievement.

  High School Some college Associate's degree Bachelor’s degree Some graduate work Master’s degree Doctorate
Less than 40,000 40% 21% 7% 5% 0% 1% 0%
$40,000-$49,999 20% 17% 15% 6% 7% 2% 1%
$50,000-$59,999 20% 9% 21% 13% 7% 4% 2%
$60,000-$69,999 0% 11% 18% 17% 11% 9% 5%
$70,000-$79,999 20% 8% 15% 12% 19% 12% 6%
$80,000-$89,999 0% 15% 13% 11% 7% 13% 11%
$90,000-$99,999 0% 8% 1% 12% 15% 10% 5%
$100,000-$109,999 0% 8% 1% 8% 11% 14% 10%
$110,000-$119,999 0% 0% 4% 5% 5% 9% 12%
$120,000-$129,999 0% 0% 1% 3% 3% 7% 9%
$130,000-$139,999 0% 1% 3% 1% 5% 3% 3%
$140,000-$149,999 0% 0% 0% 4% 7% 5% 3%
$150,000-$159,999 0% 0% 0% 1% 0% 3% 6%
$160,000 or more 0% 1% 0% 3% 5% 11% 28%

 

Age and experience

Age and experience, which often go hand-in-hand, rings true in the compliance world. The age range 50–59 had the highest representation (42%), while another 27% indicated they were in their 40s. And although it seems like there are a plenty of newer compliance officers (22% had two or fewer years of experience), more experienced workers dominated the survey field:

  • 25% reported having 3–5 years of experience
  • 33% reported having 6–10 years of experience
  • 17% reported having 11–15 years of experience
  • 3% reported having  16 or more years of experience

In addition, compliance officers seem to be a loyal group, according to survey results; 23% have been working at their current place of employment for 6–10 years. Another 19% have been with their current organization 3–5 years, and 14% have been there for 11–15 years. Nearly one-quarter of respondents reported that they have worked at their current facility for more than 16 years.

Salaries by region

Compliance officers are a vital part of any healthcare facility regardless of location and region. Compliance officers at acute care hospitals accounted for 34% of the participants. Nearly 50% of respondents work in urban facilities where as 29% reported working in a suburban location and 24% work in rural locations. 

View the chart below to see compliance officer salaries by region.

  Northeast (CT, MA, ME, NH, NY, RI, VT) North central (IA, IL, IN, MI, MN, NE, ND, OH, SD, WI) West (AZ, CO, ID, MT, NM, NV, UT, WY) Middle Atlantic (DE, MD, NJ, PA, DC) Southeast (AL, FL, GA, KY, MS, NC, SC, TN, VA, WV) South Central (AR, KS, LA, MO, OK, TX) Pacific (AK, CA, HI, OR, WA)
Less than 40,000  0%  7%  4%  3%  7%  5%  3%
$40,000-$49,999  5%  7%  6%  3%  7%  9%  1%
$50,000-$59,999  7%  11%  7%  4%  8%  8%  11%
$60,000-$69,999  15%  13%  11%  4%  14%  12%  6%
$70,000-$79,999  9%  10%  15%  13%  13%  17%  7%
$80,000-$89,999  13%  10%  15%  16%  10%  14%  7%
$90,000-$99,999  8%  10%  6%  8%  11%  8%  12%
$100,000-$109,999  10%  13%  15%  9%  9%  5%  11%
$110,000-$119,999  8%  5%  13%  10%  3%  4%  12%
$120,000-$129,999  5%  4%  7%  4%  2%  5%  8%
$130,000-$139,999  3%  1%  0%  3%  2%  2%  4%
$140,000-$149,999  6%  2%  2%  5%  6%  2%  3%
$150,000-$159,999  3%  2%  0%  4%  1%  3%  3%
$160,000 or more  9%  5%  0%  20%  10%  6%  10%

 

Most Popular