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What is the Average Compliance Analyst Salary?

Maintaining regulatory compliance is just as important for companies as sustaining operations. It’s a complex job that requires a thorough understanding of regulations and applicable laws, as well as the company’s ability to abide by them. That’s just one of the reasons why the modern compliance analyst salary is as rewarding as it is.

The compliance analyst job title is becoming more popular in the United States as regulations increase in complexity and the job description becomes more diversified.

In case you’re looking for a compliance officer job and wondering what a compliance analyst makes in a year, keep reading. This article brings an in-depth look at the average salary range of an entry-level and senior compliance analyst, while also providing a full breakdown of their responsibilities and job scope. If you’re interested in learning via video, then watch below:

https://youtu.be/5-_xBI1UtN8

Let’s dive right in. 

Compliance Analyst Salary: What is a Compliance Analyst?

A compliance analyst is someone who researches local, state, and federal regulations and juxtaposes them with a company’s operational procedures, recruitment policies, expansion objectives, etc. 

Also called compliance managers, senior compliance specialists, or risk analysts, these professionals communicate any and all applicable compliance requirements to the senior management.

Regulatory compliance analysts have several direct responsibilities, including:

  • Researching compliance policies and requirements 
  • Assessing procedural and operational compliance
  • Analyzing existing compliance policies and updating them according to current standards
  • Discussing compliance requirements with company management and concerned department heads
  • Creating and implementing compliance policies and procedures as needed
  • Communicating with outside compliance officers on new regulations and legal developments

Additionally, some professionals operate in a more legal capacity, either alongside the general counsel or within the company’s legal framework. 

What Does a Compliance Analyst Do? [Duties and Responsibilities]

Depending on their host company and the industry in which it is operating, compliance analysts could have various direct and indirect responsibilities. 

Some could be functioning as a data analyst, which would require them to simply research policies and cross-reference them with existing procedures. 

Others could be working as de-facto business analysts – looking for better business opportunities in regions with regulations that suit the company’s current operational framework.  

They could even be working as financial analysts – developing transaction and merger procedures that are not only within defined regulations but can be undertaken with minimal financial or legal risk. 

Regardless of their actual function within a company, here are some of their constant job duties.

Policy Research

Regulatory policies and laws can sometimes change on the state or federal level and it’s the company’s responsibility to cater to the change.

A compliance analyst is responsible for studying all aspects of the changed policy and come up with ways to modify company operations in order to comply. 

In case the change is not major, the analyst will collaborate with management to implement practices that will cater to the present and future changes. 

Communication with Regulators

The compliance analyst is usually the point person for all communications with external regulators and government bodies regarding policy matters. 

While the compliance manager may work in a decision-making capacity, the analyst is often the primary communicator between compliance auditors and the company. 

Compliance analysts receive all the regulatory data that’s needed by the company and help the management develop new safeguards against noncompliance, while also acting as a liaison with auditors.

Regulatory Policy Development

When it comes to developing pro-compliance policies within a company, the compliance analyst is usually at the center of it.

This is because they accumulate and analyze all the data pertaining to corporate compliance, and are therefore better equipped to create operational policies that will help avoid legal trouble.

Depending on the company, the size of the workforce, and scope of operations, the analyst may also be required to develop implementation plans for the new policies.

Compliance Certificate Application

Since compliance analysts are the ones developing internal compliance policies, they also ascertain whether the company can effectively apply for an audit, as well as a compliance certification. 

They do this after a thorough internal audit and data accumulation, which helps them generate audit reports.

These audit reports help them determine whether the company is ready to apply for compliance certifications, or whether there are still some legal risks that could result in noncompliance. 

Compliance Analyst Salary Average in the United States

The Bureau of Labor Statistics puts the position under the umbrella of ‘Compliance Officers’ and states their national average base salary as $72,850 (USD). 

Since it’s already a senior position, there is major growth associated with the job, but only one step up to either a senior analyst or chief compliance officer

However, the total compensation range depends on several factors, such as where the job is located (analysts in Washington, DC, and New York are bound to find jobs in bigger firms, therefore get higher salaries).

The salary also depends on whether it’s a private organization or a government entity, as well as the candidate’s years of experience in the industry.

Please note that the average given above is a general average and all candidates should examine multiple job aggregator sites to confirm the actual salary average.

Here are some compliance salary averages from the top job sites.

1. Glassdoor

According to Glassdoor, the average compliance analyst salary is $55,229 a year. 

Glassdoor is one of the biggest professional portals and job review aggregators in the world and has multiple related jobs. The platform features some of the most in-demand job postings for compliance analysts, from the top global corporate employers. 

In terms of the salary range, compliance analysts can earn from $38k to $79k.

This depends on multiple factors, such as the specific host company, the package on which the candidate is coming in, their on-ground responsibilities, and growth prospects.

On the personal front, the candidate’s qualifications and years of experience come into play.

2. Indeed

According to Indeed, a compliance analyst makes $94,653 yearly. 

Indeed is another major job portal that gives extensive details about the jobs on the platform. Candidates can find analyst jobs all over the world, and see the details for each job, including the typical benefits, incentives, and the average salary range.

As per Indeed, compliance analysts can expect benefits such as employee stock purchase plans, health, and wellness plans, and commute assistance, on top of the usual health and life insurance. 

What’s best about Indeed is that it hosts some of the best-paying job postings for corporate compliance analysts. The large number of the jobs posted on Indeed exceed the $100k mark.

3. PayScale

PayScale puts the average salary for a compliance analyst at $58,376 a year.

The platform is another major job postings board, with hundreds of compliance analyst jobs, as well as job descriptions, career maps, and popular skills for candidates in this and similar positions. 

According to PayScale, the salary for corporate compliance analysts ranges from $43k on the low end, with the median salary being $58k, and high-end jobs paying around $81k. 

Furthermore, candidates in San Francisco, Los Angeles, and New York City can potentially get better-paying compliance analyst jobs, as compared to other cities. 

Required Qualifications for Compliance Analysts

Since it’s a quasi-leadership position, compliance analysts need at least a bachelor’s degree or higher to attain the job.

The basic qualifications required for the job are:

  • Bachelor’s degree in an industry-relevant field
  • Master’s degree in a relevant faculty
  • High-level accredited certification in relevant areas such as regulatory compliance management or anti-money laundering (AML)
  • Experience using compliance management and analysis software
  • Vocational certification in regulatory compliance of legal counsel

On top of the qualifications, candidates can benefit from having acute analytical skills, excellent written and verbal communication ability, as well as professional networking and research skills.

Final Thoughts

Working as a full-time compliance analyst can be quite rewarding for anyone who enjoys corporate legal management and research. 

Plus, the position comes with a salary that can more than cover the cost of living in a big city.

However, in order to be successful, candidates need to diversify their skills and become more well-rounded analysts. 

In conclusion, make sure to attain as many independent certifications as you can, along with the requisite qualifications. These will not only upskill them for current positions but prepare them for industry challenges in the future.

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Salaries

What is the Average Associate General Counsel Salary?

As integral parts of their in-house counsel teams, associate general counsels are well-compensated for their overall value. But the real question is – what’s the average associate general counsel salary figure in the United States? And how does it vary from state to state?

In this article, we’ll share the average base salary figures collected, along with additional compensation data, sourced from trustworthy websites. 

Whether you’re a recruiter who wants to create a market-compatible compensation package or an associate GC who wants to see how they fair against most of their industry peers, keep reading.

Let’s jump right in.

Associate General Counsel Salary: Who is an Associate General Counsel?

An associate general counsel is one of the two main in-house attorneys in an organization. By working together with the general counsel, the associate GC furnishes legal advice, oversees contract agreements, handles litigation, and engages in providing any other legal services required by their employer.

In almost any company, the associate general counsel reports directly to the general counsel, who, in turn, reports to the chief executive officer. 

However, the associate general counsel job title, by itself, is a senior-level position with significant autonomy over handling legal issues for the company. You can think of them as the vice presidents of the corporate counsel department.

Are Associate General Counsels Senior to Assistant General Counsels?

In corporate compliance, job titles tend to vary significantly from organization to organization. 

People often use the terms “assistant general counsel” and “associate general counsel” interchangeably, which is a mistake. While their tasks and responsibilities may be similar, they differ in terms of the authority they have.

In some companies, the associate general counsel is senior to the assistant general counsel, whereas in others, it’s the other way around.

However, at the end of the day, they’re both accountable to the general counsel (or a senior associate/assistant general counsel – again, this depends on the company’s unique organizational structure).

Associate General Counsel Salary Estimates

As mentioned earlier, full-time associate general counsels are compensated rather handsomely, especially in the United States where they are high in demand.

The national average salary for this position makes it the next big career leap for novice attorneys.

However, the figures may vary greatly across different US cities. This is due to the difference in cost of living, industries, and supply of talent.

To give you the most accurate estimate, we’ve collected salary data for this position from the following websites:

  • Glassdoor
  • Indeed
  • PayScale

Let’s have a look at what they are.

1. Glassdoor

Glassdoor is one of the most comprehensive online recruitment platforms out there, designed for both employees and employers.

Their salary estimates are calculated using reports collected from hundreds (sometimes thousands) of employees all over the US.

As per the current data available on Glassdoor, the average associate general counsel salary is $162,125 per year, with the complete range starting from $93,000 and going all the way up to a whopping $246,000.

These figures are based on 468 different salaries, submitted by actual associate general counsels working at organizations such as AIG, Fannie Mae, Facebook, Capital One, and the US Department of Justice.

Unfortunately, Glassdoor doesn’t have any refined data for additional cash compensation (those are just the base salary estimates).

You can also dig deeper and filter out salary estimates by location (city or metro area) and employer.

2. Indeed

Indeed is a massive job board and a directory of informative content for both recruiters and candidates.

Compared to Glassdoor, the salary data on Indeed is far more refined.

According to the website, associate general counsels, on average, earn $130,727 per year in the United States. Again, this is only the base salary.

There’s no solid data on the additional cash compensation, however, the website does list employee stock options, commuter assistance, and loan forgiveness as the top benefits.

This data is based on 441 salaries reported by actual employees working in different organizations.

As per the 5 reports collected from its employees, the highest paying employer right now is Genentech, where the associate general counsel salary can go up to a staggering $382,459 per year.

Furthermore, the 8 highest-paying cities for this position include (in order):

  • Boston, Massachusetts 
  • Washington DC
  • Brooklyn, New York
  • Denver, Colorado
  • Chicago, Illinois
  • Seattle, Washington
  • New York city, New York
  • Houston, Texas

Candidates who manage to land the role of associate GC in these cities should consider themselves lucky.

Indeed also has a built-in tool that lets you compare the average salaries for two locations. 

3. PayScale

PayScale specializes in providing a cutting-edge compensation software, salary surveys, career advice, and much more.

It’s easily one of the most trustworthy sources to get estimates about salaries for almost every job title.

Right now, according to the platform, associate general counsels earn $142,876 per year on average in the United States. 

The salary range, however, starts from $78,000 and goes up to $218,000.

On top of that, reports suggest that associate general counsels can receive up to $19,963 as bonuses and up to $6,725 in profit-sharing, bringing the total compensation to $169,564 per year – almost the same as the estimate on Glassdoor.

PayScale also lets you view salary estimates based on location, and see the pay difference in up to 7 cities. Right now, according to the survey conducted on this platform, associate general counsels in San Francisco, California earn around 40% higher than the national average, making it the top US city in terms of compensation.

Typical Duties and Responsibilities of an Associate General Counsel 

What exactly do associate general counsels do that justifies their above-average compensation packages?

Here’s a brief job description, including broad duties and responsibilities that capture the essence of this role:

Providing Legal Counsel

In any organization, industry, or sector, if there’s one thing that an associate general counsel is responsible for, it’s providing expert legal advice in their organization.

In doing so, they ensure compliance with the various state, federal, and international laws applicable to their employer.

The associate GC does that by assisting the general counsel (and the chief compliance officer, if there is one) to establish company policies, create compliance programs, and furnish advice whenever needed.

This entails conducting legal research, assessing risk areas, and providing training.

Managing and Overseeing Business Contracts

Another major responsibility of an associate general counsel is to oversee all large, potentially game-changing business deals.

Examples of such deals include buying new real estate, acquiring the right to use certain technology, coming into strategic alliance with another company, etc.

The associate GC is tasked with negotiating better terms, ensuring everything is in accordance with the law, and drafting contracts.

Oversee Company Litigation

As the company’s attorney, the assistant general counsel is also responsible for providing legal representation to their employer.

While the company may not get involved with a lawsuit every day, it is a major responsibility which every assistant general counsel must be well-equipped to take on.

Liaising with Outside Counsel

A company that has in-house legal counsel may also elect to hire an external attorney if needed.

This usually happens when the in-house team is dealing with an area that’s not their expertise.

In such cases, the assistant general counsel is tasked with liaising with the outside counsel to ensure they have everything they need to do their job.

How to Become an Associate General Counsel?

Since the average assistant general counsel salary is higher than most positions, it’s safe to say that it’s not easy to become one.

There are certain academic and professional criteria that you must fulfill before you can qualify for this position.

Here’s what most employers are looking for:

  • Academics – all assistant general counsels are attorneys. This means that the candidate must have a Juris Doctor degree from an accredited law school. Furthermore, they must have passed the state bar examination.
  • Professional Experience – employers typically demand 3 to 5 years of experience at a law firm, government position, or some other similar role.
  • Skills – great leadership, negotiation, communication, critical-thinking, and organizational management skills are mandatory. 

In addition to the above, you must possess ample industry-relevant knowledge to provide effective legal advice to your employer.

Wrapping it Up

There’s no shortage of general counsel jobs in the United States, but there is a shortage of capable talent to fill those roles.

That’s why associate general counsels typically earn over $160,000 on average, and rightly so, given the challenges of the job.

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Salaries

What is the Average General Counsel Salary?

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What is the Average Chief Compliance Officer Salary?

Working in the legal department is already complicated, but working as a compliance officer can be even trickier. The average salary of compliance officers can vary greatly depending on whether they’re working in corporate or in the government. Reaching the chief compliance officer salary is what all compliance officers aspire for. 

Chief compliance officer salaries mostly depend on the industry, the complexity of the compliance standards, years of experience, and the organization. However, on average, the chief compliance officer salary is much higher than the national average. 

In this article, we’ll go over the chief compliance officer salary, along with their duties, responsibilities, and the path to become the ideal chief compliance officer. If you’re interested in learning via video, then watch below:

https://youtu.be/dJlw8Ccb_tQ

Let’s get started. 

Who is Chief Compliance Officer, and What Do CCOs Do? 

The chief compliance officer of an organization or agency monitors, oversees, manages, and ensures all regulatory requirements are taken care of, and all corporate compliance standards are met. 

The chief compliance officer reports directly to the chief executive officer (CEO), chief financial officer (CFO), and chief information officer (CIO). In some companies, the chief compliance officer is also called the compliance director or Vice President of Compliance. 

Under the CCO, you will see various senior management employees, including compliance managers and risk managers. The CCO also works with the legal department, attorneys, and the office of the general counsel

Primarily, chief compliance officers have to ensure regulatory compliance. However, most companies add additional duties and responsibilities in the job description. Therefore, it’s hard to list down the exact roles and duties that come with the job title of the chief compliance officer. 

Furthermore, chief compliance officers also deal with risk management, business administration, and analytical research. 

At times, the chief compliance officer can face conflicts of interest where they may have to report on substandard compliance issues that may cause damage to the organization. However, CCOs have to always ensure regulatory compliance, even if it means that the organization will face some kind of loss. 

However, that’s precisely why chief compliance officers need excellent research and analytical skills. They have to monitor, assess, and figure out any possible changes in regulations and laws to develop contingencies. Therefore, CCOs need to understand the organization they work in to develop proactive solutions to any regulatory changes. 

Typical Duties and Responsibilities of a Chief Compliance Officer 

In any case, the typical duties and responsibilities of a chief compliance officer depend on the industry, company, or agency. 

However, on average, a chief compliance officer has the following responsibilities on the daily. 

  • Report directly to the CEO, CFO, and CIO, offering compliance-related recommendations, advice, and updates. 
  • Define the appropriate level of knowledge needed by each employee according to regulatory and compliance standards. 
  • Develop annual compliance work plans in accordance with the company’s characteristics. 
  • Oversee, manage, and monitor the implementation of the compliance program
  • Revise the compliance plan according to organizational and regulatory changes, if required. 
  • Monitor, read, and analyze compliance reviews to better understand company compliance. 
  • Manage compliance teams and to ensure efficiency and compliance. 
  • Provide guidance, advice, and training to different departments of the organization. 
  • Work with the legal department and the general counsel to ensure legal compliance. 
  • Analyze and develop risk assessments, along with the risk management department. 

The exact duties, tasks, and responsibilities of chief compliance officers vary in different circumstances. However, the duties listed above are usually included with most of the job alerts for a chief compliance officer. 

What is the Average Chief Compliance Officer Salary in the United States? 

The chief compliance officer is full-time and the highest position in the compliance department. In most cases, the chief compliance officer earns the industry standard; however, some organizations and governmental agencies tend to pay more. For example, during your job search, you’ll find that the chief compliance officer makes more money in the finance industry. 

The Bureau of Labor Statistics (BLS) includes all compliance officers in one category. That includes everyone from compliance officers to chief compliance officers. According to BLS, the average base salary for compliance officers in the United States is $72,850. On average, compliance officers in the federal government earn more than CCOs working in the local or state departments. 

However, chief compliance officers make more in organizations compared to federally appointed CCOs. 

In any case, it’s best to look at a few other sources to understand how much a chief compliance officer makes, according to individual salary reports. 

  1. Glassdoor 

Glassdoor is a well-known website to find salary estimates and reviews. Employees can upload their annual salary reports, review employers, enter the cost of living estimates, benefits information, and total compensation values. 

According to Glassdoor, the national average base salary for chief compliance officers is $149,943. The average salary range is between $83,000 and $218,000. 

You can check various salary estimates accordingly by adding filters. Glassdoor lets you add the following filters. 

  • Choose your specific industry or add any industry you’re curious about. 
  • The overall size of the company according to the average number of employees. 
  • Total years of experience in any position related to the job title. 

You can add various filters to make your search more specific. The more filters you add, the more precise the salary estimate. 

Most compensation data on Glassdoor is calculated using the salary reports of different employees. However, in some cases, companies also add their average salaries. 

In any case, it’s best to add as many filters as you can to get the most precise figure. 

  1. Indeed 

Indeed is a massive job-search engine used by millions of people in the United States. However, it’s also a great place to check out salary estimates, job descriptions, and more. 

According to Indeed, the average salary for a chief compliance officer in the United States is $123,119. Furthermore, CCOs get approximately $15,000 in profit-sharing as additional compensation. 

The site also lists the most common benefits chief compliance officers get. Some of those benefits include parental leaves, an on-site gym, flexible spending amounts, life insurance, pet insurance, and healthcare benefits. 

Indeed also shows you the highest-paying cities for chief compliance officers. Cities in California pay the most with Alameda and San Francisco at the top. They’re followed by Salt Lake City and New York City, with Florida cities in the lower percentile. 

  1. PayScale 

PayScale is one of the few websites that’s dedicated to providing salary estimates, total compensation values, and information on various benefits. The site also offers gender-based pay estimates, cost of living estimates, and other pay-related information. 

According to PayScale, the average median salary for chief compliance officers is $119,815. That brings the average hourly rate to $26.76. 

Furthermore, chief compliance officers can also earn up to $19,576 in bonuses and up to $8,500 in profit-sharing. 

The total pay range for chief compliance officers averages between $68,000 and $203,000. 

PayScale also displays where you can find the highest-paid jobs for CCOs. According to the site, chief compliance officer jobs in San Francisco, New York, Chicago, Boston, and Los Angeles pay the most. 

What’s the Roadmap to Becoming a Chief Compliance Officer? 

Becoming a chief compliance officer is the top position in the compliance world. Reaching that point requires years of experience, knowledge of various industries, and a keen understanding of regulatory bodies. 

In any case, becoming a chief compliance officer usually goes about with the following roadmap. 

  • Get a bachelor’s degree in any law-related field. Getting a Juris Doctor degree is preferred by most organizations but not necessary. 
  • It’s also best to get a master’s degree in a related field. 
  • Continue your professional development by becoming a compliance officer or by getting any related jobs. Benchmark yourself against other compliance jobs. 
  • Spend time in the legal department to get a better understanding of how compliance standards, laws, and regulations work. 
  • Get at least seven to ten years of experience to become an expert on compliance. 
  • After that experience, you can apply for the chief compliance officer. However, it’s best to apply in the industry you’re used to. 

Furthermore, you should also work to develop your soft skills along with your hard skills. It’s crucial to have analytical, research, communication, and problem-solving skills. 

Ending Note 

The chief compliance officer salary mostly depends on your industry and organization. However, your overall experience and qualifications play a role too. 

In any case, any organization determines the chief compliance officer salary using your overall experience, knowledge, and understanding of the industry. 

Becoming a chief compliance officer takes time and dedication. However, once you reach the level of the chief compliance officer salary, it’s one of the highest average salaries in the United States.