The base salary for a risk professional climbed 3.5% in the US in 2017, according to a survey from industry group RIMS

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Salaries for risk management professionals are rising, according to a survey published by the US-based Risk and Insurance Management Society (RIMS).

The base pay for a risk professional in the US climbed 3.5% in the US in 2017, according to RIMS 2017 Compensation Survey.

Canadian practitioners experienced an average (mean) 2% increase in base salary, according to RIMS.

The last time RIMS undertook the North America-focused salary study was in 2015.

Since then, the average base salary for chief risk officers in the US was 11% up, to reach $190,800.

In Canada, the average base salary for a director of enterprise risk management or director of strategic risk was up 8% to $130,000.

Some 63% of the 950 replying risk management professionals polled in both the US and Canada performed other functions aside from risk management within their organisations.

“In a competitive job market, it is imperative to have the tools to formulate compelling compensation programs,” said RIMS CEO Mary Roth.

“Understanding the elements that impact compensation and career growth, provides risk professionals with a road map for advancement,” Roth added.