Risk Management Specialist Salary

For Risk Management Specialists, annual average wages total $53K per year. Cash earnings for Risk Management Specialists — which occasionally include more than $10K from bonuses and more than $4K from profit sharing — stretch from around $34K to approximately $89K. Geography and tenure each impact pay for this group, with the former having the largest influence. For the most part, Risk Management Specialists enjoy their work and report high levels of job satisfaction. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Men are in the minority of survey respondents, with female Risk Management Specialists making up 75 percent. This overview is based on answers to PayScale's salary questionnaire.
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$35,840 - $92,043
(Median)
$36K
$53K
$92K
MEDIAN: $53,216
10%
50%
90%

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$13.58 - $24.99
(Median)
$14
$19
$25
MEDIAN: $18.00
10%
50%
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
$35,840 - $92,043  
   
Bonus
$0.00 - $10,248  
Profit Sharing
$0.00 - $3,878  
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).
)
$33,832 - $88,719  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 237
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$15$30$45
Hourly Rate
$13.58 - $24.99  
   
Overtime
$0.00 - $35.00  
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$30K$60K$90K
Bonus
$0.00 - $10,248  
   
Profit Sharing
$0.00 - $3,878  
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).
)
$33,832 - $88,719  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 85
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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 only report a few specific 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. 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.


The median compensation for relatively untried workers is $48K; in the five-to-10 year group, it's higher at around $52K. For Risk Management Specialists, 10 to 20 years of experience on the job amounts to an average salary of $62K. For some reason, Risk Management Specialists with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $59K.

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Experience Affects Risk Management Specialist Salaries

Experienced
up arrow 24%

Late-Career
up arrow 17%

Mid-Career
up arrow 4%

National Average
$50,000

Entry-Level
up arrow 4%

Skills That Affect Risk Management Specialist Salaries

National Average
$50,000

Risk Management / Risk Control
up arrow 1%


Claim Handling
up arrow 7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 68 votes.

Gender

Female
75 %
Male
25 %

Years of Experience

Less than 1 year
4%
1-4 years
36%
5-9 years
32%
10-19 years
22%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 74%
vision benefits Vision: 66% employee benefits None: 12%
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