Commissions constitute a big slice (slightly less than three-fifths on average) of overall compensation for Risk Managers, and the median take-home for this group lies near $87K. Total cash compensation to Risk Managers approaches anywhere from $55K on the lower end to $140K on the higher end; in exceptional cases, this can include more than $25K from bonuses and upwards of $15K from profit sharing. While career length and the particular employer impact pay for this group, location is the most influential factor. Most Risk Managers report high levels of job satisfaction. Women Risk Managers who took the survey just slightly outnumber men. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. This report is based on responses to the PayScale salary survey.
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$55,287 - $126,975
$55K
$84K
$130K
MEDIAN: $84,394
10%
50%
90%

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$18.49 - $43.95
$18
$30
$44
MEDIAN: $29.67
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
$55,287 - $126,975  
   
Bonus
$1,634 - $25,064  
Profit Sharing
$0.00 - $14,795  
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).
)
$55,006 - $139,808  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 1,019
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
$18.49 - $43.95  
   
Overtime
$40.11  
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
$1,634 - $25,064  
   
Commission
$49,132  
Profit Sharing
$0.00 - $14,795  
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).
)
$55,006 - $139,808  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 46

Find Out Exactly What You Should Be Paid

United States (change)

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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 may progress into high-paying roles like Director of Risk Management, where median compensation is $119K annually. A common career progression for a Risk Manager is to become a Senior Risk Manager or a Risk Management Director. Compared to Risk Managers, the first group earns $27K more on average, and the second group earns $30K more.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Citigroup, Inc., Citibank, and American Express Co. (AMEX) are some prominent firms with considerable interest in employing a large team of Risk Managers. Microsoft Corp offers the highest compensation with a median salary of $128K.

Offering a median of only $102K, Bank of America Corp. (BOFA) pays the least. Moreover, the compensation range seems pretty narrow; employees make $63K on the lower end and $137K on the higher end.

Popular Skills for Risk Manager


Risk Managers seem to exploit a large range of skills on the job. Most notably, facility with SQL, SAS, and Risk Consulting are correlated to pay that is significantly above average, leading to increases of 27 percent, 25 percent, and 15 percent, respectively. Skills that pay less than market rate include OSHA Compliance, Safety Compliance, and Implementation Analyst. For most people, competency in Insurance indicates knowledge of Claim Handling.

Pay by Experience Level for Risk Manager

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


Workers in their first five years can expect to earn $70K, but people who have been around for five to 10 years earn a noticeably bigger sum of $89K. People with 10 to 20 years of experience make an average of about $98K in this role. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $96K by contrast.

Pay Difference by Location

National Average: $87,333

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

For Risk Managers, working in the bustling city of New York has its advantages, including an above-average pay rate. Risk Managers can also look forward to large paychecks in cities like Seattle (+35 percent), San Francisco (+31 percent), Wilmington (+27 percent), and Los Angeles (+24 percent). Those in the field find the lowest salaries in Jacksonville, 15 percent below the national average.

Related Job Salaries

Key Stats for Risk Manager

Gender

Female
53 %
Male
47 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 153 votes.
034
Less than 1 year
3%
1-4 years
22%
5-9 years
23%
10-19 years
35%
20 years or more
17%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Risk Manager Salaries




National Average
$87,000


Skills That Affect Risk Manager Salaries

SQL
up arrow 27%

SAS
up arrow 25%

Risk Consulting
up arrow 15%

Data Analysis
up arrow 13%


Internal Audit
up arrow 3%


Risk Management / Risk Control
0%

National Average
$87,000








Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 153 votes.

Gender

Female
53 %
Male
47 %

Years of Experience

Less than 1 year
3%
1-4 years
22%
5-9 years
23%
10-19 years
35%
20 years or more
17%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 79%
vision benefits
Vision: 68%
dental benefits
None: 9%
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