Risk Manager Salary

The median total income of Risk Managers is around $88K, and for the average worker in this area, a good chunk of that (just below three-fifths, in fact) comes from commissions. Total cash compensation for Risk Managers runs from $55K to $141K depending on bonuses that can occasionally exceed $26K and profit sharing that can reach almost $15K. Earnings for this group are mostly affected by location, followed by career duration and the individual firm. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The majority of workers are highly satisfied with their job. Respondents to the PayScale salary survey provided the data for this report.
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$55,687 - $127,019
$56K
$85K
$130K
MEDIAN: $85,309
10%
50%
90%

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$19.01 - $43.00
$19
$29
$43
MEDIAN: $29.28
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
$55,687 - $127,019  
   
Bonus
$1,435 - $25,573  
Profit Sharing
$0.00 - $14,933  
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).
)
$55,049 - $141,273  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 1,009
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
$19.01 - $43.00  
   
Overtime
$36.78  
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
$1,435 - $25,573  
   
Commission
$49,132  
Profit Sharing
$0.00 - $14,933  
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).
)
$55,049 - $141,273  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 49

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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

  • Design, implement, oversee, and manage the risk management plan.
  • Investigate and troubleshoot individual or organization-wide issues.
  • Review existing safety policies and update them to comply with legislation.
  • Coordinate risk management activities in order to prevent or isolate liabilities.

Common Career Paths for Risk Manager


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As Risk Managers transition into upper-level roles such as Director of Risk Management, they may see a strong upturn in salary. Directors of Risk Management earn $119K on average per year. It is quite typical for Risk Managers to transition into roles as Senior Risk Managers or Risk Management Directors, where reported median earnings are $27K and $29K higher per year.

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 top-notch employers for Risk Managers in this area. Microsoft Corp offers the highest compensation with a median salary of $128K.

The pay scale is far from balanced at Bank of America Corp. (BOFA). While salaries on one end can reach $137K, the company's median pay sits at $102K, the lowest in the field.

Popular Skills for Risk Manager


Survey results imply that Risk Managers deploy a substantial tool kit of skills at work. Most notably, facility with SQL, SAS, and Risk Consulting are correlated to pay that is significantly above average, leading to increases of 25 percent, 24 percent, and 14 percent, respectively. At the other end of the pay range are skills like OSHA Compliance, Safety Compliance, and Implementation Analyst. The majority of those who know Insurance also know Claim Handling.

Pay by Experience Level for Risk Manager

Pay by Experience for a Risk Manager has a positive trend. An entry-level Risk Manager with less than 5 years of experience can expect to earn an average total compensation of $69,000 based on 342 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Risk Manager with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $88,000 based on 363 salaries. An experienced Risk Manager which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $97,000 based on 419 salaries. A Risk Manager with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $96,000 based on 173 salaries.

Pay Difference by Location

National Average: $87,811

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

For Risk Managers, San Francisco provides a pay rate that is 35 percent greater than the national average. Risk Managers will also find cushy salaries in New York (+34 percent), Los Angeles (+31 percent), Seattle (+31 percent), and Wilmington (+26 percent). Jacksonville is the lowest-paying area, 15 percent south of the national average. Employers pay around 6 percent less in Miami and 2 percent less in Houston, below-median salaries for those in this field.

Related Job Salaries

Key Stats for Risk Manager

Gender

Female
53 %
Male
47 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 161 votes.
Less than 1 year
3%
1-4 years
22%
5-9 years
23%
10-19 years
35%
20 years or more
17%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Risk Manager Salaries

▲11%

▲10%

▼0%

National Average
$88,000

▼21%

Skills That Affect Risk Manager Salaries

SQL
▲25%

SAS
▲24%

Risk Consulting
▲14%


Internal Audit
▲2%


National Average
$88,000

Risk Management / Risk Control
▼1%




▼12%





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 161 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: 88%
dental benefits
Dental: 79%
vision benefits
Vision: 69%
no benefits
None: 9%
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