Fraud Investigator Salary

Earnings for Fraud Investigators in the United States come in at around $55K per year on average. Including potential for bonuses and profit sharing — peaking near $8K and $10K, respectively — total cash payment to Fraud Investigators can bottom out near $34K or peak near $83K depending on individual performance. Earnings for this group are mostly affected by residence, followed by the company and tenure. For the most part, Fraud Investigators enjoy their work and report high levels of job satisfaction. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a majority. Men make up a slight majority of Fraud Investigators (53 percent) who responded to the survey. Respondents to the PayScale salary survey provided the data for this report.
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$37,322 - $82,444
(Median)
$37K
$55K
$82K
MEDIAN: $55,057
10%
50%
90%

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$13.32 - $27.33
(Median)
$13
$18
$27
MEDIAN: $18.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$28K$56K$84K
Salary
$37,322 - $82,444  
   
Bonus
$0.00 - $8,202  
Profit Sharing
$0.30 - $10,067  
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).
)
$33,653 - $82,716  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,018
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$15$30$45
Hourly Rate
$13.32 - $27.33  
   
Overtime
$19.44 - $43.67  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$30K$60K$90K
Bonus
$0.00 - $8,202  
   
Profit Sharing
$0.30 - $10,067  
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).
)
$33,653 - $82,716  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 272
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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 who advance into the role of a Fraud Manager are fairly uncommon. Fraud Managers on average earn $67K per year. A Loss Prevention Investigator role is the most prevalent career advancement for Fraud Investigators. Paychecks for that role are $33K on average. The Security Manager position is another common transition for Fraud Investigators; in this role, salaries are typically at the $54K mark.

Fraud Investigator Job Listings

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Popular Employer Salaries for Fraud Investigator


Capital One Financial Corp, J.P. Morgan Chase & Co. (JPMCC), Geico, Wells Fargo Bank, and Humana, Inc. are leaders in the field that employ a large number of Fraud Investigators. Although J.P. Morgan Chase & Co. (JPMCC) leads the field in pay with a median salary of $67K, employees there receive a wide spread of salaries, from $34K on the low end all the way up to $95K at the top. Soaring salaries can also be found at UnitedHealth Group, Humana, Inc., and Geico, where earnings of $65K, $63K, or $60K are standard for Fraud Investigators.

Employees of Wells Fargo Bank can expect to make the least, with the company offering a median salary of $41K; however, pay is widely dispersed from top to bottom, ranging from $34K to $92K. Capital One Financial Corp, Amazon.com Inc and Geico are three other employers with a reputation for below-average pay, showing salaries around $46K, $54K, and $60K.

Popular Skills for Fraud Investigator


Fraud Investigators seem to require a rather large skill set. Most notably, facility with Insurance, Forensic Interviewing, and Interviewing are correlated to pay that is significantly above average, leading to increases of 30 percent, 28 percent, and 23 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Research Analysis, Risk Management / Risk Control, and Investigation. Most people who know 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.


Fraud Investigators do not generally earn higher incomes from more experience in the field. Salaries for the relatively untried average out to around $46K, but survey participants with five to 10 years of experience earn a significantly higher median of $54K. After working for 10 to 20 years, Fraud Investigators make a median salary of $59K. After two decades in the workforce, the average Fraud Investigator generally earns more than ever; median pay for this group is estimated at $67K.

Pay Difference by Location

National Average: $52,497

Larger city markers indicate a job is popular in that location.

With a pay rate for Fraud Investigators that is 41 percent greater than the national average, Washington offers a comfortable salary for those in this profession. Fraud Investigators will also find cushy salaries in Miami (+28 percent), Boston (+24 percent), New York (+21 percent), and Los Angeles (+20 percent). Falling short of the national average by 13 percent, the area with the worst salaries is Columbus. Below-median salaries also turn up in Phoenix and Atlanta (13 percent lower and 11 percent lower, respectively).

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Experience Affects Fraud Investigator Salaries




National Average
$52,000


Skills That Affect Fraud Investigator Salaries

Insurance
up arrow 30%

Forensic Interviewing
up arrow 28%

Interviewing
up arrow 23%

Regulatory Compliance
up arrow 16%

up arrow 14%


Medicare
up arrow 9%

Fraud Investigation
up arrow 7%

Financial Analysis
up arrow 4%

Anti-Money Laundering (AML)
up arrow 3%

Data Analysis
up arrow 1%

National Average
$52,000

Banking
up arrow 6%

Investigation
up arrow 13%

Risk Management / Risk Control
up arrow 14%

Research Analysis
up arrow 18%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 165 votes.

Gender

Female
47 %
Male
53 %

Years of Experience

Less than 1 year
5%
1-4 years
31%
5-9 years
24%
10-19 years
25%
20 years or more
15%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 78%
medical benefits
Vision: 69%
dental benefits
None: 13%
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