Risk Manager Salary

Average Risk Managers in the United States make around $82K per year. Overall cash earnings for Risk Managers stretch from $52K on the lower end to $133K near the top, and the heftiest packages can encompass around $24K from bonuses and $10K from profit sharing. Compensation for this group is mainly affected by geographic location, but experience level and the particular employer are influential factors as well. Men make up a slight majority of Risk Managers (51 percent) who responded to the survey. Medical benefits are awarded to a large number, and most earn dental coverage. Work is enjoyable for Risk Managers, who typically claim high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.
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$52,403 - $121,047

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$18.09 - $42.31

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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$50K$100K$150K
Salary
$52,403 - $121,047  
   
Bonus
$0.00 - $24,064  
Profit Sharing
$10.14 - $9,885  
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).
)
$51,894 - $133,168  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 1,264
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$25$50$75
Hourly Rate
$18.09 - $42.31  
   
Overtime
$0.00 - $53.19  
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$50K$100K$150K
Bonus
$0.00 - $24,064  
   
Profit Sharing
$10.14 - $9,885  
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).
)
$51,894 - $133,168  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 67
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Job Description for Risk Manager

A risk manager works directly for a company or provides risk consulting to various companies. The risk manager may deal with financial or material risks. The risk manager will carry out audits and spontaneous checks to make sure that various staff members are adhering to safety rules. The risk manager may also recommend changes to safety policies when necessary, as well as training when widespread problems are detected.

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Risk Manager Tasks

  • Review existing safety policies and update them to comply with legislation.
  • Coordinate risk management activities in order to prevent or isolate liabilities.
  • Design, implement, oversee, and manage the risk management plan.
  • Investigate and troubleshoot individual or organization-wide issues.

Common Career Paths for Risk Manager


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At the upper end, Risk Managers who move into a Risk Management Director role can end up with a hefty increase in pay. The average income for Risk Management Directors is a much higher $113K per year.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


The pay scale is far from balanced at Bank of America Corp. (BOFA). While salaries on one end can reach $137K, the company's median pay sits at $102K, the lowest in the field.

Popular Skills for Risk Manager


Risk Managers report using a deep pool of skills on the job. Most notably, facility with Risk Consulting, Microsoft Excel, and SQL are correlated to pay that is significantly above average, leading to increases of 76 percent, 33 percent, and 24 percent, respectively. At the other end of the pay range are skills like OSHA Compliance, Safety Compliance, and Claim Handling. It is often found that people who know Insurance are also skilled in Claim Handling.

Pay by Experience Level for Risk Manager

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


For Risk Managers, experience does not seem to be a major factor in determining pay. Relatively untried employees who have less than five years' experience make $71K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $87K. For Risk Managers, 10 to 20 years of experience on the job amounts to an average salary of $94K. Risk Managers who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $98K on average.

Pay Difference by Location


Surpassing the national average by 43 percent, Risk Managers in New York receive some of the highest pay in the country. Risk Managers will also find cushy salaries in San Francisco (+38 percent), Houston (+29 percent), Boston (+26 percent), and Charlotte (+24 percent). With compensation 9 percent below the national average, Tampa is not known for hefty paychecks and actually represents the lowest-paying market. Below-median salaries also turn up in Atlanta and Los Angeles (5 percent lower and 3 percent lower, respectively).

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Experience Affects Risk Manager Salaries




National Average
$84,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 76%

Microsoft Excel
up arrow 33%

SQL
up arrow 24%

SAS
up arrow 18%

Financial Analysis
up arrow 17%

Data Analysis
up arrow 13%

Internal Audit
up arrow 7%

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
0%

Project Management
0%

National Average
$84,000






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 238 votes.

Gender

Female
49 %
Male
51 %

Years of Experience

Less than 1 year
2%
1-4 years
21%
5-9 years
29%
10-19 years
32%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 80%
vision benefits Vision: 69% employee benefits None: 9%
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