Risk Analysts in the United States can expect to earn an average of $62K per year. Total cash earnings of Risk Analysts range from $41K on the low end to $97K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $14K and $12K, respectively. Compensation for this group is mainly affected by residence, but tenure and the specific company are influential factors as well. Job satisfaction is high and work is enjoyable for most Risk Analysts. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Risk Analysts who participated in the survey are largely men, dominating at 61 percent. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$42,737 - $91,262
$43K
$62K
$91K
MEDIAN: $61,670
10%
50%
90%

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$14.12 - $30.41
$14
$19
$30
MEDIAN: $19.00
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$33K$66K$99K
Salary
$42,737 - $91,262  
   
Bonus
$987 - $14,221  
Profit Sharing
$0.00 - $12,340  
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).
)
$40,657 - $96,690  
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$17$34$51
Hourly Rate
$14.12 - $30.41  
   
Overtime
$18.74 - $41.64  
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$50K$100K$150K
Bonus
$987 - $14,221  
   
Profit Sharing
$0.00 - $12,340  
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).
)
$40,657 - $96,690  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 70

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Risk Analyst

Risk analysts work primarily for banks or insurance companies and their tasks include carefully verifying potential clients' application information, following up on missing documentation and data with applicants or potential clients, and obtaining data from various agencies, such as credit bureaus, to verify data and information submitted by applicants. They must also be able to interpret corporate or merchants' financial statements and/or personal credit reports and maintain good relationships with processors and other staff within the company.

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Risk Analyst Tasks

  • Analyze data to calculate risks and outcomes.
  • Aggregate and transform data from multiple sources to produce consistent results.
  • Audit data and establish quality control measures.
  • Create reports and summaries, and document processes and procedures.

Common Career Paths for Risk Analyst


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Though not the most common occurrence, Risk Analysts sometimes become Senior Risk Managers, where the average income is $114K per year. With an annual salary of $86K, Risk Manager is the most common role for Risk Analysts to subsequently assume on their way up the ladder. Transitioning into a Risk Management Analyst role — which usually pays $57K — is also typical for Risk Analysts, though less common by comparison.

Risk Analyst Job Listings

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Popular Employer Salaries for Risk Analyst


For Risk Analysts, comfortable salaries can be found at Bank of America Corp. (BOFA); in fact, median earnings sit around $82K, the highest in the area.

Popular Skills for Risk Analyst


Risk Analysts seem to exploit a large range of skills on the job. Most notably, facility with R, SAS, and Financial Modeling are correlated to pay that is significantly above average, leading to increases of 28 percent, 17 percent, and 14 percent, respectively. Skills that seem to negatively impact pay include Insurance and Project Management. Those educated in Data Analysis tend to be well versed in Microsoft Excel and Financial Analysis.

Pay by Experience Level for Risk Analyst

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Risk Analysts do not generally earn higher incomes from more experience in the field. The average worker who claims fewer than five years of experience earns around $60K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $68K. After working for 10 to 20 years, Risk Analysts make a median salary of $77K. More than 20 years of experience mean a somewhat bigger median paycheck of $81K, but it's not much more than what less experienced people make.

Pay Difference by Location

National Average: $62,082

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

San Francisco is home to an above-average pay rate for Risk Analysts, 37 percent higher than the national average. Risk Analysts will also find cushy salaries in New York (+21 percent), Washington (+20 percent), Stamford (+16 percent), and Irvine (+7 percent). Trailing the national average by 16 percent, Miami is the market with the smallest paychecks. Not at the bottom but still paying below the median are employers in Minneapolis and Philadelphia (9 percent lower and 6 percent lower, respectively).

Related Job Salaries

Key Stats for Risk Analyst

Gender

Female
39 %
Male
61 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 118 votes.
Less than 1 year
11%
1-4 years
56%
5-9 years
20%
10-19 years
11%
20 years or more
2%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Risk Analyst Salaries




National Average
$62,000


Skills That Affect Risk Analyst Salaries

R
up arrow 28%

SAS
up arrow 17%

Financial Modeling
up arrow 14%

Risk Consulting
up arrow 10%

SQL
up arrow 8%


Microsoft Office
up arrow 6%

Regulatory Compliance
up arrow 5%

Data Analysis
up arrow 2%

Risk Management / Risk Control
up arrow 1%

Microsoft Excel
0%

National Average
$62,000

Project Management
up arrow 4%

Insurance
up arrow 16%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 118 votes.

Gender

Female
39 %
Male
61 %

Years of Experience

Less than 1 year
11%
1-4 years
56%
5-9 years
20%
10-19 years
11%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 79%
vision benefits
Vision: 69%
dental benefits
None: 10%
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