Average Compliance Officers Salary in Cedar Rapids, IA
Compliance Officers in Cedar Rapids, IA earn an average annual salary of $72,410. This figure is notably below the national average of $85,520, suggesting that local market dynamics and potentially a lower demand for specialized compliance roles contribute to this compensation difference. The specific economic landscape of Cedar Rapids influences the pay scale for these critical positions.
Executive Summary
- Average Salary: $72,410 per year.
- Growth Trend: Salaries have shifted 6.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $100,980.
- Outlook: The Cedar Rapids, IA market for Compliance Officers presents a workforce of 240 professionals, with a Location Quotient of 0.67 indicating a concentration below the national average. While the absolute number of professionals is moderate, the lower LQ suggests that the demand might not be as robust as in larger metropolitan areas, implying a stable but not rapidly expanding job market for these roles.
Salary Overview
The average Compliance Officers in Cedar Rapids, IA earns-15.3%below the national average.
$34.8
$1,393
$6,034
Compliance Officers Salary Trends (2020-2024)
While specific historical data for Cedar Rapids is not provided, it's generally assumed that salaries for Compliance Officers nationwide have seen a steady upward trend over the past four years, driven by increasing regulatory complexity and the growing importance of compliance functions across industries. This national trend likely influences local compensation, even if Cedar Rapids' growth rate differs from the national average.
Compliance Officers Salary Distribution in Cedar Rapids, IA
Career progression for Compliance Officers typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower end of the pay scale, while seasoned professionals with extensive expertise and specialized knowledge can command salaries considerably higher than the average. The percentile gaps in compensation clearly signify the value placed on accumulated experience and advanced skill sets in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $45,220 | $21.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $54,308 | $26.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $66,820 | $32.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $90,513 | $43.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $100,980 | $48.5 |
Detailed Compliance Officers Market Analysis
Relocation Context
Nominal Salary
$72,410
Gross Pay
Real Wage (Purchasing Power)
$72,410
Adjusted for COL (100)
The average annual salary of $72,410 for Compliance Officers in Cedar Rapids, IA aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, providing a stable financial standing for professionals residing in the area without the added financial pressure of a high cost of living.
Job Market Context
240
Total Jobs
1.74
Per 1K Jobs
0.67
Location Quotient
Cedar Rapids, IA has 0.67x the national average concentration of Compliance Officers jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
With a Location Quotient of 0.67, Cedar Rapids, IA has a lower concentration of Compliance Officers compared to the national average. This suggests that the job market may be less saturated, potentially offering more opportunities for skilled professionals to stand out. However, it also implies that the overall demand for these roles might be more limited than in areas with a higher concentration.
Nearby Job Markets
Nearby Cities for Compliance Officers
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Compliance Officers Salary | $72,570↑ 0% | 23 mi |
| Waterloo-Cedar Falls, IA Compliance Officers Salary | $70,140↓ 3% | 50 mi |
| Dubuque, IA Compliance Officers Salary | $73,970↑ 2% | 62 mi |
| Davenport-Moline-Rock Island, IA-IL Compliance Officers Salary | $77,810↑ 7% | 62 mi |
| Southeast Iowa nonmetropolitan area Compliance Officers Salary | $69,070↓ 5% | 79 mi |
Comparing salaries near Cedar Rapids, IA
Hiring Compliance Officerss?
Frequently Asked Questions
How much does a Compliance Officers make in Cedar Rapids, IA?
The median annual salary for a Compliance Officers in Cedar Rapids, IA is $72,410. This typically ranges from $45,220 for entry-level positions to $100,980 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cedar Rapids, IA is 15.3% lower than the national median of $85,520.
Is Cedar Rapids, IA a lucrative place for Compliance Officers?
No, not compared to the national average.While the cost of living is average, the nominal salary of $72,410 is significantly lower than the national average of $85,520 for Compliance Officers.
Is Cedar Rapids, IA a good place to live for Compliance Officers?
The Cost of Living Index in Cedar Rapids, IA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cedar Rapids, IA?
Some top paying nearby cities include Iowa City, IA ($72,570) and Waterloo-Cedar Falls, IA.
What is the average salary for a Compliance Officer in Cedar Rapids, IA?
The average annual salary for a Compliance Officer in Cedar Rapids, IA is $72,410.
How does the Cedar Rapids salary compare to the national average?
The average salary in Cedar Rapids ($72,410) is below the national average ($85,520) for Compliance Officers.
What is the cost of living in Cedar Rapids, IA?
Cedar Rapids, IA has a Cost of Living Index of 100, which is exactly the national average.
Is there high demand for Compliance Officers in Cedar Rapids, IA?
The Location Quotient of 0.67 suggests a lower concentration of Compliance Officers than the national average, indicating potentially moderate demand relative to other locations.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 240 employees in the Cedar Rapids, IA area with a job density of 1.74 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Compliance Officers • Data source: BLS OEWS 2024 •Jobs in Cedar Rapids, IA