Total compensation for risk professionals in asset management grew 15% in the past year, driven by increased demand by hedge funds and fund of funds, according to a survey by risk management executive search firm Risk Talent Associates. The "entry point" for risk management professionals at hedge funds or funds of funds is in the $500,000 to $600,000 range, with some large, multistrategy hedge funds paying upwards of $1 million for a chief risk officer.
"Hedge funds and fund of funds continue to look for seasoned risk management talent," Michael Woodrow, president of Risk Talent, said in an interview. "They're willing to pay for it, and they're getting it from wherever they can, but a lot of it is coming from the capital markets. That's where we go to get them."
