A compliance attorney’s salary is determined by their geographic location. Cities with the highest salaries include San Francisco, CA, Fremont, CA, and San Jose, CA. In San Francisco, the average salary is $23,029, which is 14.2% above the national average. While other cities pay slightly more, these are the highest paying in the United States. Moving to one of these cities could be a great step towards financial advancement.
The average salary for compliance attorneys
The average salary for a Compliance Attorney is around $101,003 per year in the US. Compensation for these professionals varies by location, but the highest earners make around $152,594 per year in San Francisco, CA. The salary range for a Compliance Attorney is from $76,878 to $104,315 annually, with the median amount falling between $89,541 and $236,170. The salary range for this career field is about $36,000, and the median annual compensation for this profession is about $93,641.
With federal agencies ramping up investigations and prosecutions of suspicious behaviors, compliance jobs are growing in popularity. As such, companies are increasing the salary potential for compliance applicants. However, beware of companies that offer high salaries but don’t fully understand the need for effective compliance policies or corporate cultures. Compliance jobs are not for everyone. They are often rewarding and can offer solid pay and benefits. However, you must be careful not to get sucked into the glitzy compensation package because you’ll be doing more work than you want.
Cities with the highest salaries for compliance attorneys
In the United States, the average salary of Compliance Attorneys is $101,003, while those in San Francisco earn $145,301 annually. This is 51% higher than the national average. Compliance Attorney salaries can range from $19,539 to $521,301 annually. The median salary is $93,641; the middle 57% earn between $93,641 and $236,170, and the top 8% make more than $521,000.
In 2018, an individual in this tax bracket would pay an average of 24 percent in federal taxes. In other words, a Compliance Attorney could earn an annual take-home pay of $82,473 after federal taxes. This is based on the assumption that a Compliance Attorney earns three paychecks a month or about $3,436 per pay period. These calculations do not include metro-specific taxes. Despite the relatively high starting salary, compliance professionals can expect a healthy work-life balance and a high salary.
The salary of a chief compliance officer is more than $115,220. According to BarkerGilmore, a Fairport, N.Y.-based executive search firm, compliance officers with law degrees earn 26% more than their non-lawyers counterparts. Compliance officers also help manage risks related to operations and compliance. In 2020, the median salary for compliance officers will be $71,100, up from $64,400 today.
Job description of a compliance attorney
The job description of a compliance attorney should describe the main responsibilities of the person holding this position. The description should include a section on the ideal candidate’s qualifications. The requirements of the position are broken down into two categories: required and preferred. Creating two categories helps the section have more impact. The ideal candidate should be able to demonstrate the qualities listed below. Using the following steps to develop a compliance attorney job description will help you attract the best talent in the field.
The role of a compliance attorney is highly proactive. Their duties include monitoring and assessing compliance programs and ensuring that companies adhere to the applicable laws and regulations. They also develop compliance policies and auditing programs and collaborate with outside counsel as needed. The job description of a compliance attorney varies, but some common characteristics make an ideal candidate. Compliance lawyers are responsible for helping a company avoid legal risks by ensuring its employees follow the regulations.
Qualifications for a compliance attorney
The job description of a compliance attorney is unique and largely undefined. The job demands that the compliance attorney be well versed with legal requirements and procedures. He or she must also be an excellent communicator and highly analytical, as well as possess exceptional attention to detail. The qualifications of a compliance officer will depend on the employer, but a bachelor’s degree in an appropriate field is typically sufficient. If you’re interested in this role, you can also apply for an associate’s or bachelor’s degree in a related field.
While a compliance attorney doesn’t need to have a four-year degree, it is a plus if you have some experience working in a financial services firm. Earning an ICA qualification is also advantageous as it will establish your credibility as a suitable candidate for the role. A degree in business administration or another related field is also beneficial. An MBA or an MPH will help you land a higher salary.