Risk Update

Compensation Survey — FAQ & Update on BRB Law Firm Risk Staffing Survey

Posted Dan Bressler

Great response to the 2023 Risk Staffing Compensation Survey! 

I always appreciate the notes, questions and thoughts from readers. So with this update, I wanted to not only remind folks to participate (if they want to see and benefit from the eventual output) but also to address a few community questions.

“I have data sensitivity.”

  • I feel you. I would too.
  • To be clear, this data is confidential and kept private. The eventual report will not identify firms or individuals. Last year we collected 375+ data points from 80 participants and hopefully that experience put people at ease.
  • But if you’re itching to participate but have concerns about privacy, please feel free to drop me a direct note. I’ve worked with a few firms on creative approaches here.

“What Kind of Roles?”

  • Risk is a broad category, but we’re typically focused on roles associated with the general arena of client due diligence (e.g. intake, conflicts, terms/OCGs, and the operational roles supporting that). Perhaps next year we’ll go broader. I know we have an IG reader contingent out there…
  • I’ve gotten a few of these “where do you draw the line on role/seniority” questions. In particular, I’ve had a few “director” level colleagues ask if they get to play (and see industry data) as well. And the answer is: yes!
  • I suspect I may have just internalized “if you’re not a partner, you’re staff” in terms of naming this survey. But if you’re a director-level risk leader, please do feel free to submit data. (Depending on the volume collected, we might just see an national average in the final report vs breakouts by geography/firm size. But if every leader reading this blog participated, we’d certainly have a rich data set. The BRB reader squad out there contains multitudes…)
  • When you take the survey, as an individual or a manager/director of staff, it will ask you not only for “titles” but also for a general classification of “role type” (to help best consolidate and compare apples-to-apples across roles, as best we can).
  • If you’re already taken the survey providing staff details, you can just re-take it again. All the inputs are additive to the consolidated report/export used for analysis.

“Oh Canada?”

  • Hat tip to those readers residing outside of US borders. I know we have an international contingent with a respectable set of Canadian, UK and event APAC subscribers.
  • In terms of data, this exercise last year collected a slice of Canadian data. And we’ve received some again in 2023. So I want to encourage Canadian readers to participate. We’ll see if we collect enough inputs to generate some valuable output.
  • And if there’s demand and interest from other geographies, feel free to get in touch and let’s see if we can be of help there as well.

 

Please keep those questions and comments coming. (Email readers can do that by just replying to this note — it’ll reach me. Others can use the contact form as well.)

And please do take the survey by clicking here: 2023 Risk Staffing Compensation Survey.

Thanks!