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Average Compliance Officers Salary in Minnesota

Compliance Officers in Minnesota earn an impressive average annual salary of $91,420, surpassing the national average of $85,520. This elevated compensation reflects the state's specific economic landscape and the demand for skilled professionals to navigate complex regulatory environments. Factors such as industry concentration and the need for specialized expertise contribute to this favorable pay.

Executive Summary

  • Average Salary: $91,420 per year.
  • Growth Trend: Salaries have shifted 8.2% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $133,190.
  • Outlook: With a local workforce of 6,460 Compliance Officers, Minnesota demonstrates a significant presence in this field. The Location Quotient of 0.86 suggests a market that is slightly less concentrated than the national average, indicating a stable yet potentially growing demand for these professionals. The rate of 2.213 jobs per 1,000 workers further underscores the consistent need for compliance expertise within the state.
2024 Market Data

Salary Overview

$91,420

The average Compliance Officers in Minnesota earns+6.9%above the national average.

BreakdownBased on 40h/week
Hourly

$44

Weekly

$1,758

Monthly

$7,618

Compliance Officers Salary Distribution in Minnesota

The salary progression for Compliance Officers in Minnesota typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with extensive expertise and specialized certifications can command salaries in the upper percentiles. These percentile gaps highlight clear career advancement opportunities and the increasing value placed on experience and specialized knowledge within the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$54,960$26.4
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$68,565$33
ManagerOversees team, compliance, and project delivery.50% (Median)$85,220$41
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$114,275$54.9
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$133,190$64

Detailed Compliance Officers Market Analysis

Relocation Context

Nominal Salary

$91,420

Gross Pay

Real Wage (Purchasing Power)

$96,843

Adjusted for COL (94.4)

A nominal salary of $91,420 in Minnesota offers a strong purchasing power, especially considering the state's Cost of Living Index of 94.4, which is below the national average of 100. This means that the average Compliance Officer's earnings in Minnesota translate to a higher real income compared to many other parts of the country, making it an attractive location for financial well-being.

Job Market Context

6,460

Total Jobs

2.213

Per 1K Jobs

0.86

Location Quotient

Below Average

Minnesota has 0.86x 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.

The Location Quotient of 0.86 indicates that Compliance Officers are slightly less concentrated in Minnesota compared to the national average. This suggests a healthy job market where demand is present but perhaps not oversaturated, offering good opportunities for qualified professionals without intense competition. It implies a balanced market that values the skills these officers bring.

Nearby Job Markets

Nearby Cities for Compliance Officers

CitySalaryDist.
St. Cloud, MN Compliance Officers Salary$75,450↓ 17%17 mi
Minneapolis-St. Paul-Bloomington, MN-WI Compliance Officers Salary$94,470↑ 3%58 mi

Comparing salaries near Minnesota

Hiring Compliance Officerss?

Frequently Asked Questions

How much does a Compliance Officers make in Minnesota?

The median annual salary for a Compliance Officers in Minnesota is $91,420. This typically ranges from $54,960 for entry-level positions to $133,190 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Minnesota is 6.9% higher than the national median of $85,520.

Is Minnesota a lucrative place for Compliance Officers?

Yes, Minnesota offers a lucrative environment for Compliance Officers.Compliance Officers in Minnesota earn above the national average salary, and the state's cost of living is below the national average, enhancing purchasing power.

Is Minnesota a good place to live for Compliance Officers?

With a Cost of Living Index of 94.4 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Minnesota?

Some top paying nearby cities include St. Cloud, MN ($75,450) and Minneapolis-St. Paul-Bloomington, MN-WI.

What is the average salary for a Compliance Officer in Minnesota?

The average annual salary for a Compliance Officer in Minnesota is $91,420.

How does Minnesota's average salary compare to the national average?

Minnesota's average salary of $91,420 for Compliance Officers is higher than the national average of $85,520.

Is the job market for Compliance Officers strong in Minnesota?

With a workforce of 6,460 and a Location Quotient of 0.86, the job market is stable with consistent demand, indicating good opportunities.

How does the cost of living in Minnesota affect a Compliance Officer's salary?

Minnesota's cost of living index of 94.4 (below the national average) means that the $91,420 salary provides a higher real income and greater purchasing power for Compliance Officers.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 6,460 employees in the Minnesota area with a job density of 2.213 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Compliance Officers • Data source: BLS OEWS 2024 •Jobs in Minnesota