Study Shows Compliance Compensation Grew in 2022

Download BarkerGilmore’s 2023 Report to See Average Compliance Salary Data

BarkerGilmore, a boutique executive search firm recognized for helping companies build world-class legal and compliance departments nationwide, has released its 2023 Compliance Compensation Report. The data was collected from a random sample of compliance professionals throughout the United States via an online survey administered in March 2023.

“The demand for compliance professionals, especially Chief Compliance Officers, is as strong as it has ever been,” says Managing Partner John Gilmore. “The need for business-minded leaders, an environment of increasing regulations, and the heightened awareness of the risks associated with lack of compliance have created a competitive landscape for compliance professionals.”

Key trends revealed by the report include:

1. Compensation Changes by Position: The average annual base salary increase for all positions across industries was 10%. Total compensation increased by 8%. The Chief Compliance Officer’s total compensation rose 10%, with a significant increase in LTI (14%) and a 12% increase in base compensation. Total compensation for Compliance Officers/Counsel increased by 6%, with the only change occurring in base salary.
2. Chief Compliance Officers: On average, Chief Compliance Officers received 100% of their target bonuses in 2022. Chief Compliance Officers with a J.D. have a significantly higher salary than their non-J.D. counterparts. Total compensation for Chief Compliance Officers with a J.D. was 69% higher than those without a J.D. The difference in compensation was observed at all levels — base, bonus, and LTI. Chief Compliance Officers with experience working at Am 100 law firms earn significantly higher total compensation than those without law firm experience and those that worked at small or boutique law firms. Total compensation packages for female Chief Compliance Officers were 1% lower than their male counterparts. Thirty-seven percent of Chief Compliance Officers expect to make a compensation-related job move within the next year, down 3% from last year.
3. Compliance Officers: On average, Compliance Officers received 100% of their target bonuses in 2022. The overall gap in total compensation between Compliance Officers with J.D.s and without J.D.s is 15%; however, the gap widens significantly based on the law school ranking of the Compliance Officer. Compliance Officers who graduated from a Top 50 law school made 56% more in total compensation than Compliance Officers without a J.D. Similarly, Compliance Officers with law firm experience have increased total compensation by 25% compared to those without law firm experience. The gap grows to 62% if that law firm experience was with an Am Top 50 firm. Female Compliance Officers made 2% more in total compensation than their male counterparts. Forty-three percent of Compliance Officers expect to make a compensation-motivated job move in the next year.
4. Direct Reports: The number of direct reports a Chief Compliance Officer or Compliance Officer has correlates with their total compensation. Chief Compliance Officers with 20 or more reports made 133% more than those without reports ($665,000 compared to $285,000). Compliance Officers with 20 or more direct reports made 97% more in total compensation than those without reports ($463,000 compared to $235,000).
5. Sign-on Bonuses: Twenty-five percent of Chief Compliance Officers in new positions received sign-on bonuses. The median value of the sign-on bonus was $40,000. Similarly, 25% of Compliance Officers in new positions received sign-on bonuses. The median value of Compliance Officer sign-on bonus was $17,000.
6. Industry Highs and Lows: This year saw interesting changes and new industry leaders. Download our report to see the industries that pay the most and the least.

To view the complete study, download the 2023 Compliance Compensation Report.

About BarkerGilmore

Founded in 2006, BarkerGilmore is a boutique executive search, coaching, and advisory firm dedicated to building high-performing and diverse legal and compliance teams that drive business success.

Our distinguished team of professionals, including renowned General Counsel and Chief Compliance Officers, alongside expert executive search consultants, sets us apart. The combined national reach, established industry relationships, and proven CustomFit^SM assessment process ensure we excel in executing the most demanding and high-profile searches. Our team’s broad industry experience empowers us to assist clients in recruiting and developing top-tier talent effectively.

We measure our success by our high client satisfaction rates, exceptional search completion rates, strong diversity track record, and impressive stick rates.