by The Compliance Exchange on August 12, 2013
Wall Street is offering a cop test.
The Street is looking to recruit a new compliance force to police its traders — and the pay is much higher than for those walking a beat.
As Washington ramps up regulations and financial scandals continue to unfold, the revived opportunities have sent the average six-figure salary skyrocketing over the last three years for a scarce group of elite professionals.
In 2010, many top compliance pros were still collecting unemployment benefits. Today, they can pick and choose their jobs. And their compliance compensation is rising faster than the salaries paid in many of the Street’s other sectors.
The biggest compliance hotshots, who work for multi-billion dollar funds, are seeing jaw-dropping annual payouts of $750,000.
Average annual pay for compliance pros, $500,000, is up from $350,000 in 2010, according to a study from IJC Partners in New York.