Risk Manager Salary

Commissions comprise a big part of overall income for Risk Managers. The median take-home amount in this area is around $85K, and on average, slightly less than three-fifths of that final number comes from commissions. Final cash compensation to Risk Managers varies from around $52K to approximately $137K; choice pay grades include potential for bonuses and profit sharing as high as $25K and $10K, respectively. While tenure and the specific company impact pay for this group, geographic location is the most influential factor. Work is enjoyable for Risk Managers, who typically claim high levels of job satisfaction. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Men working as Risk Managers who took the survey just slightly outnumber women at 50 percent. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$53,026 - $123,267
(Median)
$53K
$82K
$120K
MEDIAN: $82,083
10%
50%
90%

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$17.84 - $42.61
(Median)
$18
$27
$43
MEDIAN: $27.00
10%
50%
90%

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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
$53,026 - $123,267  
   
Bonus
$292.77 - $24,782  
Profit Sharing
$197.27 - $10,116  
Commission
$49,132  
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).
)
$52,278 - $136,798  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,485
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
$17.84 - $42.61  
   
Overtime
$0.00 - $52.87  
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
$292.77 - $24,782  
   
Commission
$49,132  
Profit Sharing
$197.27 - $10,116  
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).
)
$52,278 - $136,798  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 82
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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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Risk Managers who transition into a Director of Risk Management role may receive large pay increases as the latter position pays an average $120K per year. Risk Managers typically move into roles as Senior Risk Managers or Risk Management Directors, and those positions pay $29K more and $33K more, respectively.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


Citigroup, Inc. offers the largest salaries in town — $125K on average.

Bank of America Corp. (BOFA) offers the smallest salaries in town — $102K on average — but the considerable range in workers' salaries (stretching from $63K to $137K) creates a rather varied pay scale.

Popular Skills for Risk Manager


Risk Managers seem to require a rather large skill set. Most notably, facility with Risk Consulting, SQL, and SAS are correlated to pay that is significantly above average, leading to increases of 36 percent, 24 percent, and 18 percent, respectively. Skills that pay less than market rate include Safety Compliance, OSHA Compliance, and Claim Handling. Most people skilled in Insurance are similarly competent in Claim Handling.

Pay by Experience Level for Risk Manager

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


Experience and pay tend to be weakly linked for Risk Managers — those with more experience do not necessarily bring in higher earnings. Those in the early stages of their career can expect to make around $72K; however, individuals with five to 10 years of experience bring in $88K on average — a distinctly larger sum. Risk Managers see a median salary of $96K after reaching one to two decades on the job. Risk Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $97K.

Pay Difference by Location

National Average: $84,636

Larger city markers indicate a job is popular in that location.

For Risk Managers, New York provides a pay rate that is 44 percent greater than the national average. Risk Managers will also find cushy salaries in San Francisco (+40 percent), Houston (+30 percent), Columbus (+26 percent), and Charlotte (+24 percent). Tampa is the lowest-paying area, 10 percent south of the national average. Employers pay around 10 percent less in Phoenix and 3 percent less in Jacksonville, below-median salaries for those in this field.

Related Job Salaries

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Experience Affects Risk Manager Salaries




National Average
$85,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 36%

SQL
up arrow 24%

SAS
up arrow 18%

Data Analysis
up arrow 11%

Financial Analysis
up arrow 10%

Internal Audit
up arrow 6%

Risk Management / Risk Control
up arrow 3%

Microsoft Excel
up arrow 3%

Project Management
up arrow 2%

Regulatory Compliance
0%

National Average
$85,000






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 259 votes.

Gender

Female
50 %
Male
50 %

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%
medical benefits
Vision: 69%
dental benefits
None: 9%
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