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Risk Manager Salary

The average Risk Manager in the United States earns approximately $82K annually. In the world of Risk Managers, total cash compensation can vary between $52K and $135K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $25K and $11K, respectively. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the larger part. For the most part, Risk Managers enjoy their work and report high levels of job satisfaction. Women are just slightly outnumbered, with male Risk Managers making up 53 percent of survey respondents. The data for this synopsis comes from respondents who took the PayScale salary survey.
$52,316 - $121,329
(Median)
52K
65K
82K
100K
120K
MEDIAN: $82,211
10%
25%
50%
75%
90%

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$17.76 - $40.55
(Median)
18
21
26
35
41
MEDIAN: $26.00
10%
25%
50%
75%
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
$52,316 - $121,329  
   
Bonus
$0.00 - $24,899  
Profit Sharing
$231.21 - $10,766  
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).
)
$51,822 - $135,030  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 979
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
$17.76 - $40.55  
   
Overtime
$0.00 - $53.91  
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 - $24,899  
   
Profit Sharing
$231.21 - $10,766  
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).
)
$51,822 - $135,030  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 50
United States (change)

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 might see a strong upturn in salary transition into upper-level roles like Senior Risk Manager. Median pay for a Senior Risk Manager is $112K per year.

Risk Manager Job Listings

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Popular Skills for Risk Manager


Risk Managers report using a large range of skills on the job. Most notably, facility with Risk Consulting, Security Risk Management, and SAS are correlated to pay that is significantly above average, leading to increases of 57 percent, 41 percent, and 22 percent, respectively. Skills that seem to negatively impact pay include OSHA Compliance, Safety Compliance, and Claim Handling. Most people experienced in 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.


Risk Managers do not generally earn higher incomes from more experience in the field. Workers in their first five years can expect to earn $73K, but people who have been around for five to 10 years earn a noticeably bigger sum of $88K. Risk Managers with one to two decades of relevant experience report an average salary of approximately $96K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $98K.

Pay Difference by Location


Home to some of the best pay for Risk Managers, New York offers exceptional salaries, 42 percent above the national average. Risk Managers can also look forward to large paychecks in cities like Washington (+29 percent), Columbus (+29 percent), Houston (+27 percent), and Charlotte (+24 percent). Those in the field find the lowest salaries in Tampa, 10 percent below the national average. Atlanta and Minneapolis are a couple other places where companies are known to pay below the median — salaries are 8 percent lower and 3 percent lower, respectively.

Related Job Salaries

Experience Affects Risk Manager Salaries




National Average
$84,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 57%

Security Risk Management
up arrow 41%

SAS
up arrow 22%

Financial Analysis
up arrow 21%

Data Analysis
up arrow 11%

Internal Audit
up arrow 7%

Risk Management / Risk Control
up arrow 4%

Regulatory Compliance
up arrow 4%

Project Management
up arrow 2%

National Average
$84,000





OSHA Compliance
up arrow 16%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 205 votes.

Gender

Female
47 %
Male
53 %

Years of Experience

Less than 1 year
2%
1-4 years
20%
5-9 years
30%
10-19 years
31%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 80%
vision benefits Vision: 69% employee benefits None: 9%