Risk Managers Are Big-Money Players As Pay Rises DespiteFalling Economy

Although risk managers in 2007 enjoyed the biggest averagesalary boost in the past three years, they need to brace themselvesfor the inevitable fallout from a struggling economy and should notdepend on the softening commercial insurance market to establishtheir reputations and preserve their departments, the head of theprofession's top placement service warns.

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Not All Risk Manager Jobs Created Equal

While risk managers on average enjoyed healthy raises last year,it's important to keep in mind that not all jobs in risk managementare created equal, with particular industries and areas of thecountry paying more than their counterparts, the "2007 RiskManagement Compensation Survey" confirmed.

Indeed, Bill Perry, president of New York-based LogicAssociates--who for the sixth-consecutive year conducted his annualsurvey based on National Underwriter's risk managersubscribers--points out that while his report provides valuablenational benchmarks, risk managers need to delve deeper into thesurvey results to see how they truly stack up.

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Risk Managers Adapt To Tough Economy

Risk managers cannot afford to be fooled by last year's healthysalary increases and need to take steps to assure their currentpositions as well as set the stage for future raises, promotionsand moves to bigger, more challenging firms, the profession'sleading placement executive suggests.

Bill Perry, president of New York-based Logic Associates,offered his list of "Survival Tips For Risk Managers In AChallenging Economy" during an interview with National Underwriter,the exclusive co-sponsor of his annual Risk Management CompensationSurvey .

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