Compliance Managers: Salary, Job Description, How To Be One and More

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Compliance Managers jobs information
pros and cons of being a Compliance Manager

Compliance Managers

Other names for this job might include BSA Officer, BSA/AML Compliance Officer, Business Practices Supervisor, Chief Compliance Officer, Compliance Analyst, Compliance Coordinator, Compliance Director, Compliance Engineer-Products, Compliance Manager, Compliance Officer


  • $111230
    Salary
  • 75%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Low
    Job growth
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Compliance Managers: Know It All In 1 Minute


In this career summary, you will find out what the job of A Compliance Manager is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Compliance Managers plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.

  • Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
  • File appropriate compliance reports with regulatory agencies.
  • Conduct or direct the internal investigation of compliance issues.
  • Identify compliance issues that require follow-up or investigation.

Read more about what does A Compliance Manager really do at work and what is it like being and working as one.


Become one

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Salary

Average salary
$111230 per year

Hourly wage
$53.47 an hour


Compliance Managers with little to no experience tend to make between $53850 and $76530 while the more experienced ones make over $135930 per year.

Top 5 paying statesHourlyAnnual
DE$64.55$134260
DC$64.54$134230
NJ$63.45$131970
CA$63.05$131140
CO$60.58$126010

1 of the easiest ways to increase your salary as A Compliance Manager is to move to a higher paying state like DE. Right now, the highest paying states for Compliance Managers are DE, DC, NJ, CA and CO.

However a higher pay at DE doesn’t guarantee that you will make more because the living expenses at DE might be 2x higher than where you are currently at now.

3 other factors that can increase your salary as A Compliance Manager is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).

Find out how much do successful Compliance Managers make and if their salary is high when compared to all the other careers.


Requirements

Recommended degree level
Bachelor’s Degree

We asked other Compliance Managers what degree they had when they got the job and most of them said they had a Bachelors degree followed by Master’s degree.

Other than that we also asked them what did they major in and here are the most popular majors that came up.

Natural Resource Recreation and Tourism
Digital Communication and Media/Multimedia
Information Technology Project Management
Library and Information Science
Archives/Archival Administration

Another popular question from our readers is what makes A Compliance Manager successful or would they be good in this career.

Well, we found that most successful Compliance Managers have these 5 skillsets.

Reading Comprehension
Critical Thinking
Active Listening
Monitoring
Writing

In addition to that, 1 common characteristic among successful Compliance Managers is they are good at Persistence. Here are the top 5 common characteristics.

Persistence
Attention to Detail
Dependability
Integrity
Analytical Thinking
= Hot in-demand that most employers are looking for

Read more about what it really takes to become A Compliance Manager and the degree, training and education you need


Pros and Cons

Here are some reasons why you should and shouldn’t choose A Compliance Manager as your career.

PROS
Suitable for people who likes to follow routines
Suitable for people who values achievements and are resultsoriented
This career is perfect for people who love to work indoors.
One of the highest paid careers in the world
CONS
Not suitable for people who likes to work with designs
It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)


There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.

A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.



What is the job like

Job satisfaction
75%

Is this job meaningful
62%


Working hours
More than 40 hours per week

Working schedule
Regular (Set schedule and routine)


On a normal working week Compliance Managers work More than 40 hours per week.

75% of Compliance Managers said they were satisfied with their job and 62% said they feel like their job is making other people’s lives better.



Is this right for me

Best personality for this career
The Organizers and The Persuaders


You can read more about these career personality types here.

People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.

They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



How we can help

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Related to Compliance Managers Career Information

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Additional resources

http://www.bls.gov/oes/current/oes131041.htm

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Compliance Managers
Written by: Stanley Tan
Compliance Managers plan, direct, or coordinate activities of an organization to ensure compliance with ethical or regulatory standards.
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