Fraud Investigator Salary

Fraud Investigators in the United States take home an average $55K annually. Cash earnings for Fraud Investigators — which occasionally include more than $8K from bonuses and more than $10K from profit sharing — stretch from around $33K to approximately $82K. While geography and tenure impact pay for this group, the company is the most influential factor. Medical benefits are awarded to most, and a strong majority earn dental coverage. Job satisfaction for Fraud Investigators is high. Men working as Fraud Investigators who took the survey just slightly outnumber women at 54 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$36,799 - $80,987
(Median)
$37K
$55K
$81K
MEDIAN: $54,657
10%
50%
90%

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$13.11 - $27.39
(Median)
$13
$18
$27
MEDIAN: $17.00
10%
50%
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$28K$56K$84K
Salary
$36,799 - $80,987  
   
Bonus
$0.00 - $8,207  
Profit Sharing
$0.00 - $9,950  
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).
)
$33,372 - $82,029  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 913
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$15$30$45
Hourly Rate
$13.11 - $27.39  
   
Overtime
$18.86 - $43.08  
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$30K$60K$90K
Bonus
$0.00 - $8,207  
   
Profit Sharing
$0.00 - $9,950  
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).
)
$33,372 - $82,029  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 232
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Job Description for Fraud Investigator

In general, fraud investigators work to determine whether individuals or organizations have attempted deception to realize a financial benefit. Fraud investigation applications are numerous, and so fraud investigators typically specialize in a particular field, such as insurance or accounting. The vast majority of fraud investigator work within the field of insurance, due to the high inherent potential for insurance fraud and the volume of fraud cases that occur annually.

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Fraud Investigator Tasks

  • Perform desk and on-site investigational audits.
  • Develop, perform, and present fraud cases.
  • Research records and obtain, analyze, and appraise evidentiary data.
  • Investigate fraud by obtaining statements of fact, depositions or confessions from complainants, employers and witnesses.
  • Oversee the development and implementation of fraud prevention, detection and resolution strategies.

Common Career Paths for Fraud Investigator


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Fraud Investigators may not see large compensation differences if they transition into an upper-level role such as Security Manager. Security Managers on average make about as much as Fraud Investigators do.

Fraud Investigator Job Listings

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Popular Employer Salaries for Fraud Investigator


Capital One Financial Corp, J.P. Morgan Chase & Co. (JPMCC), Wells Fargo Bank, Geico, and Humana, Inc. are all popular places to work. For Fraud Investigators, comfortable salaries can be found at J.P. Morgan Chase & Co. (JPMCC); in fact, average earnings are around $69K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($34K versus $104K) is great. Other employers shelling out big bucks include UnitedHealth Group, Geico, and Amazon.com Inc, where Fraud Investigators typically earn around $62K, $60K, or $54K, respectively.

Wells Fargo Bank reports the lowest median salary in the area by far — it's only $41K, 71 percent less than the top paying company. Also sliding in at the lower end of the scale are Capital One Financial Corp ($46K), Humana, Inc. ($49K), and Amazon.com Inc ($54K).

Popular Skills for Fraud Investigator


Survey results suggest that Fraud Investigators put a wide range of professional skills to use. Most notably, facility with Forensic Interviewing, Regulatory Compliance, and Fraud Investigation are correlated to pay that is significantly above average, leading to increases of 29 percent, 28 percent, and 17 percent, respectively. Skills that pay less than market rate include Research Analysis and Risk Management / Risk Control. Most people experienced in Data Analysis also know Auditing and Medicaid Fraud Investigation.

Pay by Experience Level for Fraud Investigator

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience is an important factor influencing the compensation of Fraud Investigators. Relatively untried employees who have less than five years' experience make $45K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $53K. The average pay reported by folks with 10 to 20 years of experience is around $59K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $69K.

Pay Difference by Location


For Fraud Investigators, busy Washington offers a higher-than-average pay rate, 41 percent above the national average. Fraud Investigators can also look forward to large paychecks in cities like Miami (+30 percent), Chicago (+19 percent), Los Angeles (+19 percent), and New York (+16 percent). The smallest paychecks in the market, 13 percent south of the national average, can be found in Columbus. Not at the bottom but still paying below the median are employers in Phoenix and Austin (12 percent lower and 7 percent lower, respectively).

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Experience Affects Fraud Investigator Salaries




National Average
$52,000


Skills That Affect Fraud Investigator Salaries

Forensic Interviewing
up arrow 29%

Regulatory Compliance
up arrow 28%

Fraud Investigation
up arrow 17%

up arrow 14%


Medicare
up arrow 10%

Financial Analysis
up arrow 4%

Data Analysis
0%

National Average
$52,000

Research Analysis
up arrow 13%

Risk Management / Risk Control
up arrow 13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 161 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

Less than 1 year
5%
1-4 years
29%
5-9 years
26%
10-19 years
26%
20 years or more
15%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 79%
vision benefits Vision: 69% employee benefits None: 12%
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