Risk Management Consultant Salary

Risk Management Consultants in the United States can expect to earn an average of $72K annually. Cash earnings for Risk Management Consultants — including $16K in bonuses and $7K in profit sharing proceeds near the top of the pay scale — generally stretch from $54K to $126K depending on individual performance. Earnings for this group are mostly affected by career duration, followed by geography and the individual firm. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to a strong majority. Work is enjoyable for Risk Management Consultants, who typically claim high levels of job satisfaction. Men make up a slight majority of Risk Management Consultants (58 percent) who responded to the survey. Respondents to the PayScale salary survey provided the data for this report.

$53,013 - $115,477
$53K
$72K
$120K
MEDIAN: $72,323
10%
50%
90%

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$16.25 - $97.44
$16
$39
$97
MEDIAN: $39.00
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$50K$100K$150K
Salary
$53,013 - $115,477  
   
Bonus
$1,030 - $16,470  
Profit Sharing
$613 - $7,340  
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).
)
$53,544 - $126,226  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 305
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$33$66$99
Hourly Rate
$16.25 - $97.44  
   
Overtime
$42.83  
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$70K$140K$210K
Bonus
$1,030 - $16,470  
   
Profit Sharing
$613 - $7,340  
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).
)
$53,544 - $126,226  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 14

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United States (change)

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Job Description for Risk Management Consultant

Risk management consultants analyze all aspects of the company - including financial, technology, and general business - to determine risk levels and opportunities to mitigate them. This involves working directly with stakeholders to determine standards and policies for analysis, litigation, investigations, and policies. On a day-to-day basis, the job mostly consists of activities such as user profiling, auditing, and collaboration with teams such as security operations. The consultant creates reports and analyses based on research, then presents them to management and stakeholders to determine the best available plan of action.

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Risk Management Consultant Tasks

  • Identify, analyze, and monitor risk.
  • Create solutions and management strategies for potential clients.
  • Evaluate compliance with state and federal policy.
  • Propose best practice and risk mitigation and management strategies.

Risk Management Consultant Job Listings

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Popular Employer Salaries for Risk Management Consultant


For Risk Management Consultants, comfortable salaries can be found at Wells Fargo Bank; in fact, average earnings are around $94K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($67K versus $128K) is great.

EY (Ernst & Young) seems to offer the smallest paychecks with a median salary of only $65K. The pay range is quite narrow, too; compensation generally sits between $53K and $106K.

Popular Skills for Risk Management Consultant


Survey takers working as Risk Management Consultants report using a large range of professional skills. Most notably, facility with SAS, Data Modeling, and Process Improvement are correlated to pay that is significantly above average, leading to increases of 43 percent, 27 percent, and 20 percent, respectively. At the other end of the pay range are skills like Microsoft Excel and IT Risk. Competency in Risk Consulting frequently indicates knowledge of Risk Management / Risk Control.

Pay by Experience Level for Risk Management Consultant

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


Risk Management Consultants with a lot of experience tend to enjoy higher earnings. The average beginner in this position makes around $66K, but folks who have been around for five to 10 years see a markedly higher median salary of $93K. Those with 10 to 20 years of experience under their belts can expect their paychecks to flourish around the six-figure median of $104K. Old hands who claim more than two decades on the job enjoy average earnings of $124K.

Pay Difference by Location

National Average: $75,718

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

For Risk Management Consultants, working in the bustling city of Los Angeles has its advantages, including an above-average pay rate. Risk Management Consultants can also look forward to large paychecks in cities like Charlotte (+22 percent), New York (+18 percent), Denver (+17 percent), and Chicago (+4 percent). The lowest-paying market is Boston, which sits 19 percent below the national average. Below-median salaries also turn up in St. Louis and Miami (18 percent lower and 13 percent lower, respectively).

Related Job Salaries

Key Stats for Risk Management Consultant

Gender

Female
42 %
Male
58 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 31 votes.
Less than 1 year
12%
1-4 years
38%
5-9 years
24%
10-19 years
18%
20 years or more
8%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Risk Management Consultant Salaries

▲63%

▲37%

▲23%

National Average
$76,000

▼13%

Skills That Affect Risk Management Consultant Salaries

SAS
▲43%

Data Modeling
▲27%

Process Improvement
▲20%

Data Analysis
▲11%

Business Analysis
▲9%




Project Management
▲1%

National Average
$76,000

IT Risk
▼17%

Microsoft Excel
▼18%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 31 votes.

Gender

Female
42 %
Male
58 %

Years of Experience

Less than 1 year
12%
1-4 years
38%
5-9 years
24%
10-19 years
18%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 81%
vision benefits
Vision: 72%
dental benefits
None: 10%
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