Earnings for Fraud Investigators in the United States come in at around $57K per year on average. Total incomes of Fraud Investigators incorporate potential for, in a few cases, more than $9K from bonuses and close to $10K from profit sharing; these performance components cause packages to range between $34K and $81K. The specific employer is the main element affecting pay for this group — the particular city and experience level are driving factors as well. Women are just slightly outnumbered, with male Fraud Investigators making up 55 percent of survey respondents. Job satisfaction for Fraud Investigators is high. A large number enjoy medical and dental coverage in this occupation, and a fair number get vision benefits. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$37,877 - $82,258
(Median)
$38K
$57K
$82K
MEDIAN: $57,033
10%
50%
90%

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$14.01 - $26.82
(Median)
$14
$19
$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
$37,877 - $82,258  
   
Bonus
$0.44 - $9,059  
Profit Sharing
$0.00 - $10,000  
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).
)
$34,181 - $81,392  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 742
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$16$32$48
Hourly Rate
$14.01 - $26.82  
   
Overtime
$20.94 - $46.03  
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$32K$64K$96K
Bonus
$0.44 - $9,059  
   
Profit Sharing
$0.00 - $10,000  
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).
)
$34,181 - $81,392  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 246
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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 sometimes assume positions such as Fraud Managers. That role pays $69K per year on average. Becoming a Loss Prevention Investigator or a Security Manager is, however, a more typical career progression for Fraud Investigators.

Fraud Investigator Job Listings

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Popular Employer Salaries for Fraud Investigator


Dominating the field, J.P. Morgan Chase & Co. (JPMCC), Capital One Financial Corp, Wells Fargo Bank, Geico, and Amazon.com Inc are top firms with a reputation for hiring a great number of Fraud Investigators. Humana, Inc. offers the largest salaries in town — $72K on average. Also paying near the top of the field are J.P. Morgan Chase & Co. (JPMCC) at $66K, UnitedHealth Group at $63K, and Geico, where Fraud Investigators annually earn $61K.

Other low-paying employers include Citibank at $40K and Wells Fargo Bank at $41K, though some Fraud Investigators there earn up to $92K.

Popular Skills for Fraud Investigator


Survey results imply that Fraud Investigators deploy a substantial tool kit of skills at work. Most notably, facility with Insurance, Forensic Interviewing, and Interviewing are correlated to pay that is significantly above average, leading to increases of 28 percent, 20 percent, and 14 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Investigation and Anti-Money Laundering also typically command lower compensation. 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.


For Fraud Investigators, experience does not seem to be a major factor in determining pay. The average worker who claims fewer than five years of experience earns around $46K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $53K. Fraud Investigators see a median salary of $61K after reaching one to two decades on the job. Fraud Investigators who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $66K.

Pay Difference by Location

National Average: $53,260

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

For Fraud Investigators, location is an influential factor in determining pay. American cities to the east — Boston, New York, and Philadelphia — all offer salaries upward of the national average; in fact, these names represent the highest-paid cities for Fraud Investigators in the country. Trailing the national average by 19 percent, Columbus is the market with the smallest paychecks. Two other places where employers offer below-median salaries are Atlanta (16 percent less) and Richmond (15 percent less).

Fraud Investigator Reviews

What is it like working as a Fraud Investigator?

Fraud Investigator in Orlando:
"Different everyday."
Pros: I like the variety daily of going somewhere different for a case, it doesn't feel like I'm working and believe I have found my career.
Cons: Mileage rate could see an increase, along with hourly rate of course.

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Experience Affects Fraud Investigator Salaries




National Average
$53,000


Skills That Affect Fraud Investigator Salaries

Insurance
up arrow 28%


Interviewing
up arrow 14%


up arrow 12%

Medicare
up arrow 8%

Financial Analysis
up arrow 4%

Data Analysis
up arrow 3%

Fraud Investigation
0%

National Average
$53,000

Regulatory Compliance
up arrow 2%

Research Analysis
up arrow 13%

Risk Management / Risk Control
up arrow 15%

Anti-Money Laundering (AML)
up arrow 16%

Investigation
up arrow 23%

Customer Service
up arrow 33%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 120 votes.

Gender

Female
45 %
Male
55 %

Years of Experience

Less than 1 year
4%
1-4 years
35%
5-9 years
23%
10-19 years
24%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 79%
medical benefits
Vision: 72%
dental benefits
None: 12%
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