Despite many in the industry bemoaning the wave of rules and regulations written after the financial crisis, the trend has been a boost for compliance officers, according to a US News and World Report which ranked the profession as fourth in their top 100 list.
However, accountants squeezed out compliance officers to claim third place. The US Labor Department predicts that this profession will grow by 15.7 percent in the next few years.
Private equity compliance officers will be pleased to know that they, along with other financial compliance officers, are among the best paid compliance officers, but the position’s level of stress is high, according to the report.
The government predicts 15 percent growth in the number of compliance officers between 2010 and 2020, representing 32,400 new jobs and 26,200 replacement jobs.
According to the Bureau of Labor Statistics, the mean annual salary for compliance officers was $60,740 in 2011, but noted there could be wide wage differences depending on the skill requirements of a specific position.
The report based the rankings on the Labor Department's predictions of occupations that should hire abundantly in the next several years, as well as average salaries. Grabbing first and second place was market research analyst and financial adviser respectively.
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