Rising Financial Crimes Boost Earnings for Certified Anti-Money Laundering Experts
In the realm of Anti-Money Laundering (AML) and financial crime prevention, the ACAMS 2015 Compensation Survey offers a comprehensive look into the remuneration landscape of this crucial industry. The survey, compiled by Industry Insights, an independent research firm, provides valuable insights into the salaries, job satisfaction, and growth trends within the AML sector.
The survey was distributed to approximately 60,000 industry professionals and received a 7.7% response rate, ensuring a significant enough response to yield a 95% level of confidence and a 1.4% margin of error.
Employees primarily focused in the areas of investing and brokerages had the highest median total compensation at $85,145. Interestingly, those who were Certified Anti-Money Laundering Specialists (CAMS-certified) reported a median total compensation of $85,000, which is 42% higher than the median total compensation for a non-CAMS certified counterpart.
The survey also revealed that the median growth in base pay from 2013 to 2014 was highest for consultants, with nearly 12% growth. Furthermore, Anti-money laundering and financial crime industry respondents reported a median 8% growth in base salary for 2014 over 2013, significantly higher than median increases of less than half that for the overall employment market worldwide.
Certified Anti-Money Laundering Specialists also reported higher levels of job satisfaction across all levels, with an average score of 97 out of 100 for job satisfaction.
The survey also highlighted a salary gap between genders, with the median total compensation for women in this study being just over 4% lower than men.
ACAMS, an international membership organization dedicated to enhancing the knowledge and skills of AML and financial crime prevention professionals, is launching a new online salary calculator where members can enter data about their experience and career to calculate their potential median salary based on the metrics of the survey.
Moreover, the survey results showed that whether based on number of employees or annual revenue figures, larger-sized organizations compensated AML professionals at a higher level. The CAMS certification, which is the most widely recognized AML certification among compliance professionals worldwide, also played a significant role in determining salaries. For instance, in Central America and the Caribbean, CAMS certified professionals earned 88% more than their non-certified peers.
The United Nations Office of Drugs and Crime estimates that the amount of money laundered globally in one year is between 2% and 5% of the global GDP, or up to USD $2 trillion. Given the importance of the AML industry in combating this global issue, the insights provided by the ACAMS 2015 Compensation Survey offer valuable perspectives for both industry professionals and those considering a career in this field.
Non-members can obtain a copy of the full results by contacting an ACAMS specialist at 1-305-373-0020 or by email at [email protected]. ACAMS members and those who completed the survey will receive full details of the survey. For more information about ACAMS, visit their website: www.acams.org. The organisation also boasts extensive resources designed to develop and sharpen the skills required for superior job performance and career advancement.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Li Auto faces scrutiny after crash test involving i8 model and a truck manufacturer sparks controversy
- Celebrated Title: Cheesemakers Blessed Upon
- Construction and renovation projects in Cham county granted €24.8 million focus on energy efficiency
