Risk Management Specialist Salary

An average Risk Management Specialist in the United States can expect to take home roughly $53K annually. Final cash compensation to Risk Management Specialists varies from around $34K to approximately $89K; choice pay grades include potential for bonuses and profit sharing as high as $10K and $4K, respectively. Geography is the biggest factor affecting pay for this group, followed by career duration. Men are in the minority of survey respondents, with female Risk Management Specialists making up 75 percent. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. Most Risk Management Specialists report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.
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$35,785 - $92,391
(Median)
$36K
$53K
$92K
MEDIAN: $52,914
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
$35,785 - $92,391  
   
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).
)
$33,787 - $88,970  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 234
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).
)
$33,787 - $88,970  
Country: United States | Currency: USD | Updated: 20 Jun 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 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.


People who have worked for fewer than five years bring home $48K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $52K. For Risk Management Specialists, 10 to 20 years of experience on the job amounts to an average salary of $62K. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $60K by contrast.

Related Job Salaries

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Experience Affects Risk Management Specialist Salaries

Experienced
up arrow 25%

Late-Career
up arrow 20%

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
3%
1-4 years
37%
5-9 years
32%
10-19 years
22%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 75%
vision benefits Vision: 66% employee benefits None: 12%
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