Risk Manager Salary

Median pay for Risk Managers in the United States is around $82K annually. Overall cash earnings for Risk Managers stretch from $52K on the lower end to $134K near the top, and the heftiest packages can encompass around $25K from bonuses and $10K from profit sharing. Geographic location is the main element affecting pay for this group — years of experience and the particular employer are driving factors as well. Most Risk Managers like their work and job satisfaction is high. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to the greater part. Men working as Risk Managers who took the survey just slightly outnumber women at 51 percent. This overview is based on answers to PayScale's salary questionnaire.
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$52,624 - $121,570
(Median)
$53K
$82K
$120K
MEDIAN: $81,851
10%
50%
90%

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$18.09 - $42.31
(Median)
$18
$27
$42
MEDIAN: $27.00
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$50K$100K$150K
Salary
$52,624 - $121,570  
   
Bonus
$0.00 - $24,683  
Profit Sharing
$10.14 - $10,234  
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).
)
$52,045 - $134,318  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,254
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$25$50$75
Hourly Rate
$18.09 - $42.31  
   
Overtime
$0.00 - $53.19  
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$50K$100K$150K
Bonus
$0.00 - $24,683  
   
Profit Sharing
$10.14 - $10,234  
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).
)
$52,045 - $134,318  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 67
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Job Description for Risk Manager

A risk manager is someone who is responsible for handling the threats that are directed toward the progress of a business or organization. Risk managers not only protect the company, but they also protect the company's assets, income, employees, reputation, and shareholders. In some companies, risk managers set up procedures and handle the legal risks, and some of them specialize in data risk and technology. Risk managers help to design, implement, oversee, and manage the risk management plan. They coordinate risk management activities in order to prevent or isolate liabilities. Risk managers also review existing safety policies and update them to comply with legislation. They also investigate and troubleshoot individual or organization-wide issues. They must identify trouble before it occurs and communicate their findings to other people within the organization. Risk managers construct their reports according to the needs of their audience. They can report their findings to the board of directors and even the employees. The board of directors' report could be more general and help the members better understand the threats. The employees can receive a report to help them better understand and acknowledge the possible risks that may be created by their job. Risk managers protect the organization from any legal costs, and they can also provide training to company managers on how to stay within proper legal boundaries when running their company. The managers must have a certain level of education and experience in order to do their jobs well. In any company, there are always risks. A risk manager's career is very attainable and is an occupation that will forever be in high demand.


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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Risk Managers may progress into high-paying roles like Risk Management Director, where median compensation is $113K annually.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


Offering a median salary of only $102K, Bank of America Corp. (BOFA) pays the least. Not only that, but the earnings range of $63K to $137K is pretty narrow, too.

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 75 percent, 23 percent, and 20 percent, respectively. Skills that seem to negatively impact pay include OSHA Compliance, Safety Compliance, and Claim Handling. Most people familiar with Insurance also know 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, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Survey participants with less than five years' experience pocket $71K on average, but those with five to 10 years of experience enjoy a much bigger median of $87K. After working for 10 to 20 years, Risk Managers make a median salary of $95K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $98K.

Pay Difference by Location


Surpassing the national average by 44 percent, Risk Managers in New York receive some of the highest pay in the country. Risk Managers can also look forward to large paychecks in cities like San Francisco (+39 percent), Houston (+28 percent), Boston (+25 percent), and Washington (+25 percent). Tampa is home to the smallest salaries in the field, lagging the national average by 10 percent. A couple other locations with smaller-than-average paychecks include Atlanta (6 percent lower) and Los Angeles (3 percent lower).

Related Job Salaries

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Experience Affects Risk Manager Salaries




National Average
$84,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 75%

Microsoft Excel
up arrow 23%

Financial Analysis
up arrow 20%

SQL
up arrow 20%

SAS
up arrow 17%

Data Analysis
up arrow 13%

Internal Audit
up arrow 7%

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
up arrow 2%

Project Management
up arrow 1%

National Average
$84,000

Implementation Analyst
up arrow 3%





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 242 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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