Canadian risk managers earned a median annual base salary of $122,000, according to a recent Risk Management Society (RIMS) survey. This accounts for a 1.6% increase from $120,000 in 2021, when RIMS last conducted this survey.
However, the salary for Canadian risk management (RM) professionals varies by gender, position and education, RIMS acknowledged.
The RIMS 2023 Risk Management Compensation Survey, conducted in Sept. 2023, compiled data from 187 Canadian respondents and 949 U.S. respondents. Comparatively, the median annual base salary for RM professionals in the United States is US$144,300. This equals about Cdn$196,133 as of December 2023.
In terms of gender breakdown, survey respondents in Canada lean slightly more female (53%) than male (44%).
“Males tend to earn more than females. However, underlying factors may help to explain the discrepancy,” RIMS wrote in its executive summary.
For example, 74% of male respondents say they have at least a bachelor’s degree, compared to 63% of women. Plus, men are more likely to have hold supervisory responsibility over at least one other person (60%), compared to 52% of women.
“Education, experience, and supervisory…
