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The differences between regulatory compliance managers and compliance specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, a regulatory compliance manager has an average salary of $102,841, which is higher than the $57,330 average annual salary of a compliance specialist.
The top three skills for a regulatory compliance manager include oversight, regulatory risk and CMS. The most important skills for a compliance specialist are patients, regulatory compliance, and strong analytical.
| Regulatory Compliance Manager | Compliance Specialist | |
| Yearly salary | $102,841 | $57,330 |
| Hourly rate | $49.44 | $27.56 |
| Growth rate | - | 6% |
| Number of jobs | 25,474 | 34,610 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 61% |
| Average age | 47 | 46 |
| Years of experience | 4 | - |
A regulatory compliance manager is responsible for evaluating the company's processes and procedures, ensuring that everything adheres to the internal guidelines and state regulations. Regulatory compliance managers write reports of observational findings, conducting audits on policies, and taking disciplinary actions for violations. They also facilitate regulatory training and programs to inform the employees of the company's procedures to avoid hazards and complications in the workplace. A regulatory compliance manager analyzes incident reports and complaints statements, resolving compliance issues immediately to avoid further reputational damage for the company.
The role of compliance specialists is to ensure that companies comply with relevant industry standards and regulations. Their duties may vary depending on the industry they work in, such as healthcare or banking. Tasks include reviewing their company's business practices to ensure they follow specific regulations, resolving compliance issues that may arise, and being up-to-date with regulatory changes. As a compliance specialist, you should have industry expertise, in-depth knowledge of regulations, and auditing skills.
Regulatory compliance managers and compliance specialists have different pay scales, as shown below.
| Regulatory Compliance Manager | Compliance Specialist | |
| Average salary | $102,841 | $57,330 |
| Salary range | Between $68,000 And $153,000 | Between $38,000 And $85,000 |
| Highest paying City | New York, NY | San Francisco, CA |
| Highest paying state | New York | Delaware |
| Best paying company | McKinsey & Company Inc | Meta |
| Best paying industry | Professional | Pharmaceutical |
There are a few differences between a regulatory compliance manager and a compliance specialist in terms of educational background:
| Regulatory Compliance Manager | Compliance Specialist | |
| Most common degree | Bachelor's Degree, 68% | Bachelor's Degree, 61% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Harvard University |
Here are the differences between regulatory compliance managers' and compliance specialists' demographics:
| Regulatory Compliance Manager | Compliance Specialist | |
| Average age | 47 | 46 |
| Gender ratio | Male, 54.5% Female, 45.5% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 7.7% Unknown, 4.7% Hispanic or Latino, 12.9% Asian, 9.0% White, 65.1% American Indian and Alaska Native, 0.7% | Black or African American, 10.9% Unknown, 4.5% Hispanic or Latino, 15.7% Asian, 8.2% White, 59.8% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 10% | 12% |