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Risk Management Specialist Salary (United States)

The median total income of Risk Management Specialists is around $50K, and for the average worker in this area, a good chunk of that (three in five, in fact) comes from commissions. Cash earnings for Risk Management Specialists — including $10K in bonuses and $4K in profit sharing proceeds near the top of the pay scale — generally stretch from $34K to $92K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by tenure. A strong majority report receiving medical coverage from their employers and most collect dental insurance. Female Risk Management Specialists make up most of the field at 71 percent. Job satisfaction for Risk Management Specialists is high. This summary is derived from information collected in the PayScale salary survey.
Risk Management Specialist Salary (?
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.
)
$36,489 - $91,425
(Median)
36K
44K
53K
70K
91K
MEDIAN: $52,896
10%
25%
50%
75%
90%
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Risk Management Specialist Salary (?
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.
)
$12.82 - $24.07
(Median)
13
16
18
22
24
MEDIAN: $18.00
10%
25%
50%
75%
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$31K$62K$93K
Salary
$36,489 - $91,425  
   
Bonus
$0.00 - $10,181  
Profit Sharing
$0.00 - $3,915  
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).
)
$34,064 - $91,537  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 236
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$16$32$48
Hourly Rate
$12.82 - $24.07  
   
Overtime
$0.00 - $34.77  
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$32K$64K$96K
Bonus
$0.00 - $10,181  
   
Profit Sharing
$0.00 - $3,915  
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).
)
$34,064 - $91,537  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 77
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Location:
Years in Field/Career:
United States (change)

Job Description for Risk Management Specialist

  • Process and respond to workers' compensation, liability, and other legal and insurance filings and adjustments.
  • Present risk analyses to consumers, decision-makers or management, making recommendations for action.
  • Conduct statistical and in-person analyses to identify and categorize risk and potential risk.
  • Assist in developing risk mitigation strategies and implementing them.

Risk Management Specialist Job Listings

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Risk Management Specialists note just a narrow range of job skills. Those who have experience with Risk Management / Risk Control, Insurance, and Claim Handling can expect to be compensated well for these skills. At the other end of the pay range are skills like Claim Handling and Insurance. Experience with Insurance is often linked with knowledge of Risk Management / Risk Control.

Pay by Experience Level for Risk Management Specialist

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Risk Management Specialists, extensive experience does not lead to significantly more money. The average inexperienced worker's salary is approximately $48K, and people with five to 10 years of experience bring in more at around $52K on average. People with 10 to 20 years of experience make an average of about $63K in this role. Risk Management Specialists 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 $67K. Between one and nine years is the typical spectrum of experience for those in this line of work — of those who took the survey, a fair portion land within it. Experienced employees who have 10-20 years of experience make up close to a fifth of the workforce; inexperienced individuals who have been working for less than one year comprise less than five percent, and senior people with more than 20 years under their belt fill out the remaining fewer than one in twenty.

Pay Difference By Location

New York
up arrow 83%
San Diego
up arrow 12%
National Average
$50,000
Seattle
up arrow 2%
Houston
up arrow 8%
Larger circles over a city indicate a job is popular in that location.
New York is home to an above-average pay rate for Risk Management Specialists, 83 percent higher than the national average. Risk Management Specialists will also find cushy salaries in San Diego (+12 percent). Houston is the lowest-paying area, 8 percent south of the national average.

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Experience Affects Risk Management Specialist Salaries

Late-Career
up arrow 35%
Experienced
up arrow 25%
Mid-Career
up arrow 5%
National Average
$50,000
Entry-Level
up arrow 5%

Skills That Affect Risk Management Specialist Salaries

Risk Management / Risk Control
0%
National Average
$50,000
Claim Handling
up arrow 7%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 73 votes.

Gender

Female
71%
female alumni
 
Male
29%
male alumni

Years of Experience

Less than 1 year
4%
1-4 years
40%
5-9 years
33%
10-19 years
21%
20 years or more
3%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 76%
vision benefits Vision: 63% employee benefits None: 12%