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Fraud Investigator Salary

For Fraud Investigators, annual average wages total $55K per year. In the world of Fraud Investigators, overall cash allowance can occasionally include more than $8K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $33K and $83K. This group's pay is mainly influenced by residence, followed by the company and experience level. Work is enjoyable for Fraud Investigators, who typically claim high levels of job satisfaction. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Men working as Fraud Investigators who took the survey just slightly outnumber women at 55 percent. The numbers in this rundown were provided by PayScale's salary survey participants.
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$36,260 - $81,105
(Median)
$36K
$55K
$81K
MEDIAN: $54,575
10%
50%
90%

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$13.11 - $28.40
(Median)
$13
$18
$28
MEDIAN: $18.00
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
$36,260 - $81,105  
   
Bonus
$0.00 - $8,260  
Profit Sharing
$1.14 - $10,050  
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).
)
$33,456 - $82,523  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 873
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 - $28.40  
   
Overtime
$18.73 - $44.60  
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 - $8,260  
   
Profit Sharing
$1.14 - $10,050  
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).
)
$33,456 - $82,523  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 213

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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 make advancements to positions like Loss Prevention Investigator, salaries may go down sharply. Usually, Loss Prevention Investigators make $32K.

Fraud Investigator Job Listings

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Popular Employer Salaries for Fraud Investigator


Capital One Financial Corp, Wells Fargo Bank, Amazon.com Inc, Humana, Inc., and Geico are some prominent firms with considerable interest in employing a large team of Fraud Investigators. Those at UnitedHealth Group can expect to make the most, with the company offering a median salary of $65K.

Popular Skills for Fraud Investigator


Fraud Investigators report using a diverse set of skills on the job. Most notably, facility with Forensic Interviewing, Fraud Investigation, and Auditing are correlated to pay that is significantly above average, leading to increases of 34 percent, 17 percent, and 15 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Research Analysis and Risk Management / Risk Control. The majority of those 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.


More years of relevant experience do not necessarily translate to higher paychecks. Those in the early stages of their career can expect to make around $45K; however, individuals with five to 10 years of experience bring in $54K on average — a distinctly larger sum. Fraud Investigators see a median salary of $59K after reaching one to two decades on the job. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $68K.

Pay Difference by Location


For Fraud Investigators, Washington provides a pay rate that is 40 percent greater than the national average. Fraud Investigators will also find cushy salaries in Miami (+30 percent), Chicago (+21 percent), Los Angeles (+21 percent), and New York (+17 percent). The lowest-paying market is Phoenix, which sits 14 percent below the national average. Two other places where employers offer below-median salaries are Austin (8 percent less) and Seattle (5 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 34%

Fraud Investigation
up arrow 17%

up arrow 15%


Medicare
up arrow 10%


Data Analysis
up arrow 2%

National Average
$52,000

Risk Management / Risk Control
up arrow 13%

Research Analysis
up arrow 17%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 160 votes.

Gender

Female
45 %
Male
55 %

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: 68% employee benefits None: 12%
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