Fraud Investigator Salary

Median pay for Fraud Investigators in the United States lies in the neighborhood of $55K per year. Total cash compensation for Fraud Investigators runs from $34K to $83K depending on bonuses that can occasionally exceed $8K and profit sharing that can reach almost $10K. Residence is the biggest factor affecting pay for this group, followed by the company and experience level. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. Women are just slightly outnumbered, with male Fraud Investigators making up 53 percent of survey respondents. For the most part, Fraud Investigators enjoy their work and report high levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
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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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Though not the most common occurrence, Fraud Investigators sometimes become Fraud Managers, where the average income is $67K per year. Given that the median pay is $33K, it may be surprising to find that a Loss Prevention Investigator is the most common role for Fraud Investigators to subsequently assume on their way up the ladder. Transitioning into a Security Manager role — which pays $54K — is also typical for Fraud Investigators, though less common by comparison.

Fraud Investigator Job Listings

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Popular Employer Salaries for Fraud Investigator


Leading companies who hire large numbers of Fraud Investigators include Capital One Financial Corp, J.P. Morgan Chase & Co. (JPMCC), Geico, Wells Fargo Bank, and Humana, Inc. J.P. Morgan Chase & Co. (JPMCC) offers the largest salaries in town ($67K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $34K to $95K. Those in search of high salaries should also consider UnitedHealth Group, Humana, Inc., and Geico, top-paying firms where Fraud Investigators rake in a respectable $65K, $63K, or $60K, respectively.

Offering a median salary of only $41K, Wells Fargo Bank pays the least. Not only that, but the earnings range of $34K to $92K is pretty narrow, too. Capital One Financial Corp, Amazon.com Inc, and Geico are a few other employers known for handing out relatively lightweight salaries ($46K, $54K, and $60K respectively).

Popular Skills for Fraud Investigator


Survey respondents exploit a significant toolbox of skills in their work. 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. At the other end of the pay range are skills like Research Analysis, Risk Management / Risk Control, and Investigation. It is often found that people who know Data Analysis are also skilled in 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. Relatively untried employees who have less than five years' experience make $46K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $54K. On average, Fraud Investigators make $59K following one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $67K.

Pay Difference by Location

National Average: $52,497

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

Washington offers some of the highest pay in the country for Fraud Investigators, 41 percent above the national average. Fraud Investigators will also find cushy salaries in Miami (+28 percent), Boston (+24 percent), New York (+21 percent), and Los Angeles (+20 percent). Columbus is the lowest-paying area, 13 percent south of the national average. Employers also pay below the national average in Phoenix (13 percent lower) and Atlanta (11 percent lower).

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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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