NEW YORK—There is some good news when it comes to compliance. Or at least good news for compliance officers: they’re in demand and their pay is rising.
The bad news—in the finance sector, compliance officers feel overworked and underpaid. Half want to change jobs, and nearly three-quarters say they’re burned out, The FCPA Blog reported, citing data from The Wall Street Journal.
Salaries for entry-level compliance officers have risen to $66,000 and for chief compliance officers to $209,000. Meanwhile, the unemployment rate for compliance officers in the United States dropped from 3.5% in 2020 to 2.4%.
However, a Kyckr survey of compliance professionals in the finance sector from the United States, the U.K., Canada and Australia reported that 41% feel they aren’t being compensated fairly, 53% want to change jobs or companies in the next year, and 72% feel somewhat or very burned out at their work, The FCPA Blog noted.
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