Risk Management Specialist Salary

Median pay for Risk Management Specialists in the United States lies in the neighborhood of $53K per year. In the world of Risk Management Specialists, total cash compensation can vary between $34K and $89K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $10K and $4K, respectively. Location and experience level each impact pay for this group, with the former having the largest influence. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the larger part. Work is enjoyable for Risk Management Specialists, who typically claim high levels of job satisfaction. Most Risk Management Specialists survey respondents are women (75 percent). This report is based on responses to the PayScale salary survey.
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$36,183 - $93,277

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$13.79 - $25.22

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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
$36,183 - $93,277  
   
Bonus
$0.00 - $10,282  
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).
)
$33,859 - $89,496  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 236
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$15$30$45
Hourly Rate
$13.79 - $25.22  
   
Overtime
$0.00 - $35.00  
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$30K$60K$90K
Bonus
$0.00 - $10,282  
   
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).
)
$33,859 - $89,496  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 87
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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. Risk Management / Risk Control is a skill commonly found among those who know Insurance.

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. After working for 10 to 20 years, Risk Management Specialists make a median salary of $62K. Risk Management Specialists who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $60K.

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Experience Affects Risk Management Specialist Salaries

Experienced
up arrow 24%

Late-Career
up arrow 19%

Mid-Career
up arrow 3%

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 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 67 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
21%
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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