Fraud Investigator Salary

Fraud Investigators in the United States can expect to earn an average of $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 $34K to approximately $82K. Compensation for this group is mainly affected by the particular firm, but geography and tenure are influential factors as well. Men working as Fraud Investigators who took the survey just slightly outnumber women at 54 percent. For the most part, Fraud Investigators enjoy their work and report high levels of job satisfaction. Medical benefits are awarded to most, and a strong majority earn dental coverage. This overview is based on answers to PayScale's salary questionnaire.
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$36,946 - $80,975

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$13.24 - $27.39

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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
$36,946 - $80,975  
   
Bonus
$0.00 - $8,196  
Profit Sharing
$0.00 - $9,967  
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).
)
$33,639 - $81,994  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 917
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
$13.24 - $27.39  
   
Overtime
$18.86 - $43.08  
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 - $8,196  
   
Profit Sharing
$0.00 - $9,967  
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).
)
$33,639 - $81,994  
Country: United States | Currency: USD | Updated: 18 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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As Fraud Investigators transition into upper-level roles like Security Managers, it's possible that they won't see a change in salary. Security Managers earn the same amount as Fraud Investigators on average.

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 leaders in the field that employ a large number of Fraud Investigators. Fraud Investigators seeking a sizable paycheck can earn the most at J.P. Morgan Chase & Co. (JPMCC), where the median salary comes to $69K, though the large pay difference between employees at the top ($34K) and those starting out ($104K) creates a rather diverse pay scale. Fraud Investigators will also find cushy salaries at UnitedHealth Group (+$62K), Geico (+$60K), and Amazon.com Inc (+$54K).

With a median salary of only $41K (71 percent less than the top paying company), Wells Fargo Bank lags significantly in the earnings department. Others at the bottom of the scale for this job include Capital One Financial Corp at $46K, Humana, Inc. at $49K, and Amazon.com Inc, where $54K is the norm.

Popular Skills for Fraud Investigator


Fraud Investigators seem to require a number of specific skills. Most notably, facility with Forensic Interviewing, Regulatory Compliance, and Auditing are correlated to pay that is significantly above average, leading to increases of 29 percent, 28 percent, and 14 percent, respectively. Skills that pay less than market rate include Research Analysis and Risk Management / Risk Control. For most people, competency in Data Analysis indicates knowledge of 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 with a rich background of experience are typically rewarded with larger paychecks. Salaries for the relatively untried average out to around $45K, but survey participants with five to 10 years of experience earn a significantly higher median of $54K. For Fraud Investigators, 10 to 20 years of experience on the job amounts to an average salary of $58K. 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, Washington provides a pay rate that is 41 percent greater than the national average. Fraud Investigators can also look forward to large paychecks in cities like Los Angeles (+21 percent), Chicago (+19 percent), New York (+16 percent), and Dallas (+15 percent). The smallest paychecks in the market, 14 percent south of the national average, can be found in Columbus. Two other places where employers offer below-median salaries are Phoenix (12 percent less) and Austin (7 percent less).

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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%

up arrow 14%

Fraud Investigation
up arrow 11%


Medicare
up arrow 10%

Financial Analysis
up arrow 4%

National Average
$52,000

Data Analysis
up arrow 1%

Research Analysis
up arrow 13%

Risk Management / Risk Control
up arrow 13%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 158 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: 78%
vision benefits Vision: 69% employee benefits None: 12%
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