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Fraud Analyst Salary (United States)

With just under two-thirds of Fraud Analysts reporting fewer than five years of experience, the average pay is $42K per year. Total cash compensation for Fraud Analysts runs from $27K to $63K depending on bonuses that can occasionally exceed $6K and profit sharing that can reach almost $2K. The most influential factor affecting pay for this group is location, though career length and the particular employer have a (lesser) impact as well. Medical benefits are awarded to almost all workers, and a strong majority earn dental coverage. Women make up a slight majority of Fraud Analysts (56 percent). The majority of Fraud Analysts claim high levels of job satisfaction. The numbers for this synopsis were furnished by individuals who completed PayScale's salary questionnaire.
Fraud Analyst Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$30,206 - $67,314
(Median)
30K
42K
52K
67K
MEDIAN: $42,482
10%
50%
75%
90%
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Fraud Analyst Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$11.97 - $20.82
(Median)
12
17
21
MEDIAN: $15.00
10%
75%
90%
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National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$23K$46K$69K
Salary
$30,206 - $67,314  
   
Bonus
$0.00 - $5,776  
Profit Sharing
$97.87 - $1,546  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,883 - $63,190  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 244
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$11$22$33
Hourly Rate
$11.97 - $20.82  
   
Overtime
$16.98 - $30.64  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Bonus
$0.00 - $5,776  
   
Profit Sharing
$97.87 - $1,546  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$26,883 - $63,190  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 178
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Job Description for Fraud Analyst

A fraud analyst specializes in investigating suspicious activities that could potentially include fraud. Fraud analysts often work with law enforcement officers, and they have an expansive knowledge of finance and relevant computer programs to perform their job. The job responsibilities of a fraud analyst include researching criminal fraud methods and tools, tracking financial data, creating reports, identifying and investigating possible fraudulent activities, and developing techniques and tools useful in the prevention of fraud. Fraud analysts are responsible for tracking criminal fraud, which may involve monitoring financial transactions and analyzing the data retrieved for irregular patterns. Fraud analyst work in a variety of industries, but they usually work in a private institution such as a bank.
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Fraud Analyst Tasks
  • Write reports, and document evidence, findings, and recommendations.
  • Interview and elicit information from staff and contractors to resolve questions.
  • Analyze data from multiple sources to identify discrepancies, spot fraud, and eliminate suspicion.
  • Educate staff and contractors on fraud and associated behaviors.

Common Career Paths for Fraud Analyst

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As Fraud Analysts make advancements in their career path to roles like Fraud Investigator, salaries often climb aggressively. Typically, Fraud Investigators will make $47K annually.

Fraud Analyst Job Listings

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location

Popular Employer Salaries for Fraud Analyst

The biggest paychecks can be found at Bank of America Corp. (BOFA) — the median salary there is $35K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $27K and highest ones in the neighborhood of $47K. J.P. Morgan Chase & Co. (JPMCC) reports the lowest median salary in the area (it's only $33K) but some workers make up to $57K, indicating a rather large gap in employee earnings. Also approaching the lower end is Bank of America Corp. (BOFA).

Popular Skills for Fraud Analyst

Survey results suggest that Fraud Analysts use a fairly large toolkit of professional skills. Most notably, facility with Risk Management / Risk Control, Microsoft Excel, and SQL are correlated to pay that is significantly above average, leading to increases of 26 percent, 24 percent, and 23 percent, respectively. Skills that seem to negatively impact pay include Customer Service. The majority of those who know Customer Service also know SQL.

Pay Difference By Location

San Francisco
up arrow 37%
Columbus
up arrow 26%
Tampa
up arrow 22%
San Diego
up arrow 4%
Los Angeles
up arrow 2%
National Average
$39,000
Atlanta
up arrow 3%
Chicago
up arrow 7%
Phoenix
up arrow 13%
Newark
up arrow 16%
San Antonio
up arrow 22%
Larger circles over a city indicate a job is popular in that location.
With a pay rate for Fraud Analysts that is 37 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Those in search of high salaries should also consider checking out cities like Columbus, Tampa, San Diego, and Los Angeles, top-paying markets where Fraud Analysts rake in more than the national norm (+26 percent, +22 percent, +4 percent, and +2 percent). Location significantly influences compensation, with San Antonio Fraud Analysts earning much less — 22 percent less — than the national average. Newark and Phoenix are a couple other places where companies are known to pay below the median — salaries are 16 percent lower and 13 percent lower, respectively.

Fraud Analyst Reviews

What is it like working as a Fraud Analyst?
Fraud Analyst in Harrisburg:
"Very Interesting Thus Far."
Pros: The people I work with are great.
Cons: The pay and the hours.

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Experience Affects Fraud Analyst Salaries

Experienced
up arrow 28%
Mid-Career
up arrow 12%
National Average
$39,000

Skills That Affect Fraud Analyst Salaries

Risk Management / Risk Control
up arrow 26%
Microsoft Excel
up arrow 24%
SQL
up arrow 23%
Data Analysis
up arrow 4%
National Average
$39,000
Customer Service
up arrow 14%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 84 votes.

Gender

Female
56%
female alumni
 
Male
44%
male alumni

Years of Experience

Less than 1 year
9%
1-4 years
53%
5-9 years
22%
10-19 years
14%
20 years or more
2%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 81%
vision benefits Vision: 70% employee benefits None: 8%