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Risk Manager Salary

Pay for Risk Managers in the United States sits in the ballpark of $82K per year. With some bonuses approaching $25K and certain profit sharing proceeds approaching $10K, overall incomes of Risk Managers spread between $52K and $134K depending on individual performance. Geographic location and years of experience each impact pay for this group, with the former having the largest influence. Men working as Risk Managers who took the survey just slightly outnumber women at 51 percent. Most Risk Managers report high levels of job satisfaction. A large number report receiving medical coverage from their employers and most collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.
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$52,046 - $121,098
(Median)
$52K
$82K
$120K
MEDIAN: $81,780
10%
50%
90%

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$17.95 - $41.39
(Median)
$18
$26
$41
MEDIAN: $26.00
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
$52,046 - $121,098  
   
Bonus
$0.00 - $24,712  
Profit Sharing
$227.85 - $10,332  
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).
)
$51,647 - $133,882  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 1,131
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
$17.95 - $41.39  
   
Overtime
$0.00 - $53.53  
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 - $24,712  
   
Profit Sharing
$227.85 - $10,332  
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).
)
$51,647 - $133,882  
Country: United States | Currency: USD | Updated: 1 Apr 2015 | Individuals Reporting: 63

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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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Though it's uncommon, some Risk Managers move into roles as Senior Risk Managers, where pay is an average $113K per year.

Risk Manager Job Listings

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Popular Skills for Risk Manager


Risk Managers seem to wield many skills on the job. Lucky workers who know Risk Consulting can expect a significant pay bump, scoring salaries 58 percent above average. Security Risk Management and SQL are also correlated to pay that is above average, with increases between 42 percent and 58 percent. At the other end of the pay range are skills like OSHA Compliance, Safety Compliance, and Claim Handling. Those proficient in Insurance are, more often than not, 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.


More years of relevant experience do not necessarily translate to higher paychecks. Respondents with less than five years' experience take home $72K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $88K. Risk Managers claiming one to two decades of experience make an estimated median of $96K. Risk Managers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $98K.

Pay Difference by Location


For Risk Managers, working in the bustling city of New York has its advantages, including an above-average pay rate. Risk Managers will also find cushy salaries in San Francisco (+38 percent), Houston (+34 percent), Boston (+26 percent), and Washington (+26 percent). In Tampa, salaries are 9 percent below the national average and represent the lowest-paying market. Employers also pay below the national average in Atlanta (5 percent lower) and Los Angeles (4 percent lower).

Related Job Salaries

United States (change)

Experience Affects Risk Manager Salaries




National Average
$84,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 58%

Security Risk Management
up arrow 42%

SQL
up arrow 42%

SAS
up arrow 23%

Financial Analysis
up arrow 22%

Data Analysis
up arrow 12%

Internal Audit
up arrow 7%

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
up arrow 3%

Project Management
0%

National Average
$84,000

Implementation Analyst
up arrow 3%





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 230 votes.

Gender

Female
49 %
Male
51 %

Years of Experience

Less than 1 year
2%
1-4 years
22%
5-9 years
29%
10-19 years
31%
20 years or more
16%

Common Health Benefits

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