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Risk Management Specialist Salary

For Risk Management Specialists, annual average wages total $53K per year. Total cash compensation for Risk Management Specialists runs from $34K to $87K depending on bonuses that can occasionally exceed $10K and profit sharing that can reach almost $4K. Geographic location and career duration each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most Risk Management Specialists. Female Risk Management Specialists make up most of the survey respondents at 75 percent. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The data in this summary comes from the PayScale salary survey.
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$36,614 - $88,617
(Median)
$37K
$53K
$89K
MEDIAN: $52,936
10%
50%
90%

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$13.46 - $24.25
(Median)
$13
$18
$24
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$30K$60K$90K
Salary
$36,614 - $88,617  
   
Bonus
$0.00 - $10,011  
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).
)
$34,003 - $86,955  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 224
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
$13.46 - $24.25  
   
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 - $10,011  
   
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).
)
$34,003 - $86,955  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 82

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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 typically list a handful of skills they use on the job. Those who have experience with Risk Management / Risk Control, Insurance, and Claim Handling can expect to be compensated well for these skills. Skills that are correlated to lower pay, on the other hand, include 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.


The median compensation for relatively untried workers is $48K; in the five-to-10 year group, it's higher at around $51K. Risk Management Specialists see a median salary of $61K after reaching one to two decades on the job. Individuals who report more than two decades of experience seem to make about the same as folks in the 10-to-20 year range.

Related Job Salaries

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Experience Affects Risk Management Specialist Salaries

Experienced
up arrow 22%

Late-Career
up arrow 22%

Mid-Career
up arrow 4%

National Average
$50,000

Entry-Level
up arrow 4%

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
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
34%
10-19 years
21%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 74%
vision benefits Vision: 65% employee benefits None: 12%