Risk managers in North America have secured their second straight round of strong pay rises, with double-digit increases for senior leaders and solid gains across the profession.
The RIMS 2025 Compensation Survey found that risk professionals in the US saw median salaries rise 11% since 2023, while their Canadian counterparts recorded a 15% rise over the same period. Chief risk officers and vice presidents of risk management led the way, with median pay up 16% in the US and 15% in Canada.
The median annual base salary for US risk management professionals reached US$160,000 in 2025, up from US$144,300 in 2023. In Canada, the median climbed to C$140,000 (US$100,000) from C$122,000. For US practitioners holding the title of chief risk officer/vice president, the median base salary now stands at US$245,000, while their Canadian peers earn a median of C$225,000.
Professional credentials continue to carry weight with employers. The survey found that 41% of US respondents and 40% of Canadian respondents who obtained an industry‑related designation or certification were recognized by their employers, either financially or through other forms of acknowledgment. Two in three US risk management professionals (65%) now hold at least one relevant designation or certification, a figure that climbs to 88% in Canada, underlining the importance of continuous professional development in a tightening talent market.
The latest figures confirm that corporate buyers are prepared to pay a premium to attract and retain seasoned risk leaders, particularly at the CRO and VP levels. Higher in-house sophistication, coupled with the strong emphasis on professional designations, means underwriting, pricing and program design conversations are increasingly being led by data-literate risk teams that can challenge wordins, benchmarking and structure.
At the same time, rising compensation makes it harder for insurers and brokers to compete for the same talent pool, reinforcing the need to invest in their own risk, actuarial and advisory capabilities if they want to stay relevant to this more empowered buyer group.
“There are many factors that reaffirm the immense value business leaders place on risk management, but few are more compelling than the salary increases highlighted in this year’s RIMS Compensation Survey,” said RIMS CEO Gary LaBranche. “Around the world risk professionals are driving organizational growth and innovation. RIMS is proud to provide this resource for them to sustain that momentum and advance their careers.”
The bi‑annual survey provides detailed compensation analysis by virtually all risk management positions and explores how education, experience and other demographic factors influence pay. It also gathers data on reporting lines, team size, benefits and additional cash compensation.
