Risk Management Specialist Salary

An average Risk Management Specialist in the United States can expect to take home roughly $55K annually. In the world of Risk Management Specialists, overall income ranges from $34K near the bottom to $91K at the top; this can include more than $13K from bonuses and more than $15K from profit sharing in exceptional cases. Residence is the biggest factor affecting pay for this group, followed by tenure. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. Men are in the minority of survey respondents, with female Risk Management Specialists making up 75 percent. For the most part, Risk Management Specialists enjoy their work and report high levels of job satisfaction. The data in this summary comes from the PayScale salary survey.
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$37,950 - $93,734
(Median)
$38K
$55K
$94K
MEDIAN: $55,267
10%
50%
90%

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$13.84 - $25.86
(Median)
$14
$19
$26
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$32K$64K$96K
Salary
$37,950 - $93,734  
   
Bonus
$0.00 - $13,186  
Profit Sharing
$0.00 - $14,500  
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).
)
$33,909 - $91,104  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 249
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
$13.84 - $25.86  
   
Overtime
$0.00 - $35.48  
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
$0.00 - $13,186  
   
Profit Sharing
$0.00 - $14,500  
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).
)
$33,909 - $91,104  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 88
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Job Description for Risk Management Specialist

Risk management specialists work to minimize many forms of risks to their companies' financial standings, and may focus on areas such as safety or material loss. In any case, they must develop comprehensive plans for risk management and direct them for implementation.

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Risk Management Specialist Tasks

  • 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 report a narrow range of specific skills. Fortunate workers who know Claim Handling can expect a significant pay bump, scoring salaries 25 percent above average. Skills that are correlated to lower pay, on the other hand, include Insurance. Insurance and Risk Management / Risk Control are also commonly seen together.

Pay by Experience Level for Risk Management Specialist

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


For Risk Management Specialists, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. The average inexperienced worker earns $49K, and someone who has worked for five to 10 years can expect a bigger median salary of $52K. On average, Risk Management Specialists make $63K following one to two decades on the job. Individuals who have achieved more than 20 years of experience don't seem to earn any more than people who have 10 to 20 years under their belts.

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Experience Affects Risk Management Specialist Salaries

Experienced
up arrow 23%

Late-Career
up arrow 23%

Mid-Career
up arrow 2%

National Average
$51,000

Entry-Level
up arrow 5%

Skills That Affect Risk Management Specialist Salaries

Claim Handling
up arrow 25%

National Average
$51,000

Risk Management / Risk Control
up arrow 3%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 58 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
30%
10-19 years
20%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 76%
medical benefits
Vision: 67%
dental benefits
None: 11%
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