Compensation report: What Canadian risk professionals got paid in 2025

Risk management (RM) professionals in Canada saw a 15% salary increase last year compared to 2023, according to the RIMS 2025 Compensation Survey released Wednesday.

The median annual base salary for Canadian RM professionals (as of June 1, 2025) was $140,000 compared to $122,000 in 2023. Canadian RM professionals saw a 4.1% average increase in base salary as of June 1, 2025, compared to one year before that.

“Those indicating the position that most closely represents their role/responsibilities is chief risk officer/vice president of risk management. [They] have the highest median salary (among the eight positions analyzed) at $225,000, up from $95,000 in 2023,” the survey says. But it adds, “it is important to note most Canadian position-level segments analyzed are based on few respondents.”

RIMS’ bi-annual survey provides detailed compensation analysis by virtually all RM positions in Canada and the United States, RIMS says in a press release. It also looks at the impact education, experience, and other demographic data have on salaries. Additionally, the report provides data about risk management reporting structures, team size, benefits, and additional cash compensation programs.

The email survey was sent to qualified RIMS professional members and non-members. Results were based on 1,068 respondents who indicated they were employed as a risk management professional as of June 1, 2025, in the U.S. or Canada. Of those, 867 were from the U.S., 201 from Canada.

Lead by experience

Experience matters, according to the survey. The difference in median salary for a Canadian RM professional with at least 25 years of experience is $72,000 greater than those with fewer than five years of experience.

Those who directly or indirectly supervise five or more individuals typically earn $55,000 more than those who do not supervise others.

“There does not appear to be a relationship between level of education and salary,” the report says. “These trends are consistent with what was found in 2023.”

Males typically earn $25,500 more than females. The report says some factors “may help to explain the discrepancy.” For example, males tend to have higher levels of education (86% versus 75% with at least a Bachelor’s degree) and supervisory responsibility (76% of males supervise at least one other person versus 59% of females). “Again, this is consistent with what was reported in 2023.”

From a recognition standpoint, 40% of Canadian respondents received recognition — either monetary and/or non-monetary — for earning an industry-related designation or certification. The majority (88%) of Canadian risk professionals have at least one industry-related designation or certification.

Among Canadian RM professionals who received cash compensation and were in the same position 12 months prior, 84% received it in the form of bonuses in the 12 months prior to June 1, 2025. Consistent with previous findings, far fewer received compensation as incentive pay (16%), profit-sharing (15%), or something else (17%).

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Jason Contant

Jason has been an award-winning journalist with Canadian Underwriter for more than a decade, including the past three years as associate editor and, before that, as digital editor for seven years.