BarkerGilmore Releases 2024 Chief Compliance Officer (CCO) Compensation Report

Download BarkerGilmore’s 2024 Chief Compliance Officer Compensation Report

Compensation Increases Lose Momentum; the Gender Gap Still Exists; a JD Degree Matters; and Most CCOs Report Low Interest in Seeking a Higher-Paying Position Right Now

BarkerGilmore LLC — a leading national executive search and advisory firm recognized for helping companies build world-class legal and compliance capabilities — has released its 2024 Chief Compliance Officer Compensation Report.

The report reflects changes in Chief Compliance Officer (CCO) total compensation, factoring in salary, bonus, and long-term incentives; the type of organization (public, private, non-profit); and the organization’s revenue.

Key findings of the 2024 Report show:

• There were year-over-year increases in CCO median base + bonus compensation for public companies and non-profits, and a slight decrease for private companies:
  • Public: up 7%, to $419,000, from $391,262
  • Private: down 1%, to $299,541, from $302,000
  • Non-Profit: up 12%, to $250,000, from $223,810

• Salaries increased for CCOs across the reported 7 industry categories; however, the rate of those increases declined year-over-year, except for Financial Services, where increases remained the same, at 5%:
  • Consumer rate of increase declined to 2% from 6%
  • Energy rate of increase declined to 1% from 5%
  • Healthcare/Life Sciences rate of increase declined to 2% from 5%
  • Industrial & Manufacturing rate of increase declined to 2% from 7%
  • Professional Services rate of increase declined to 0% from 4%
  • Technology rate of increase declined to 4% from 6%

• Total CCO compensation for both public and private companies was higher for men than women; however, the trend reversed at non-profits, where women were paid more than their male counterparts:
  • Public company differential was +29% for men
  • Private company differential was +9% for men
  • Non-Profit differential was +9% for women

• The majority of CCOs reported that they had low or very low interest in a compensation-motivated job search:
  • 65% at Public companies
  • 63% at Private companies
  • 60% at Non-Profits

• The pay differential related to having a J.D. degree was significantly lower at private companies and non-profits, compared to public companies.
  • Public Companies $295,000
  • Private Companies $61,000
  • Non-Profits $92,000

• CCOs at non-profits are much more likely to report to the CEO (58%) than at public companies (30%) and private companies (43%)

According to Managing Partner John Gilmore, “CCO compensation continued to rise over the past year. We attribute the slowing of salary increases to various factors, including tighter post-COVID corporate hiring budgets and economic and political uncertainty. While our executive search business experienced a softening of demand for compliance professionals in 2023, we have witnessed a robust turnaround in 2024 as positions opened due to internal promotions, resignations, and retirements. The good news is positions at the top cannot go unfilled for long.  As the compliance discipline continues to grow in importance as a risk management discipline, we expect CCO compensation increases to continue in the year ahead.”

The research data was collected from a broad random sampling of senior-level compliance professionals throughout the United States through an online survey. BarkerGilmore has reported legal and compliance industry compensation trends since 2015.

To see the complete study, download the 2024 Chief Compliance Officer 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.