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Risk Manager Salary (United States)

Risk Managers in the United States can typically expect wages of $83K annually. With some bonuses approaching $25K and certain profit sharing proceeds approaching $11K, overall incomes of Risk Managers spread between $51K and $136K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by career duration. Medical benefits are awarded to a solid majority, and a strong majority earn dental coverage. Women are just slightly outnumbered, with male Risk Managers making up 54 percent of workers. The majority of workers are highly satisfied with their job. The data for this synopsis comes from respondents who took the PayScale salary survey.
Risk Manager Salary (?
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.
)
$52,135 - $120,894
(Median)
52K
65K
83K
100K
120K
MEDIAN: $82,569
10%
25%
50%
75%
90%
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Risk Manager Salary (?
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.
)
$17.65 - $40.85
(Median)
18
21
26
35
41
MEDIAN: $25.00
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
$52,135 - $120,894  
   
Bonus
$0.00 - $24,824  
Profit Sharing
$229.34 - $11,000  
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).
)
$51,486 - $136,048  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 853
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
$17.65 - $40.85  
   
Overtime
$0.00 - $54.30  
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 - $24,824  
   
Profit Sharing
$229.34 - $11,000  
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).
)
$51,486 - $136,048  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 48
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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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While not commonly seen, Risk Managers who transition into a Senior Risk Manager position may see a rise in pay. The typical salary for Senior Risk Managers 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 76 percent, 40 percent, and 16 percent, respectively. Skills that pay less than market rate include Safety Compliance, Claim Handling, and Implementation Analyst. 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.
For Risk Managers, experience does not seem to be a major factor in determining pay. Salaries of relatively inexperienced workers fall in the neighborhood of $72K, but folks who have racked up five to 10 years see a notably higher median of $89K. People with 10 to 20 years of experience make an average of about $96K in this role. 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. Close to one-half of respondents report one to nine years of experience. Experienced employees who have 10-20 years of experience make up roughly one in three of the workforce; inexperienced individuals who have been working for less than one year comprise less than two percent, and senior people with more than 20 years under their belt fill out the remaining about a sixth.

Pay Difference By Location

up arrow 43%
Columbus
up arrow 42%
San Francisco
up arrow 30%
Washington
up arrow 28%
up arrow 24%
Charlotte
up arrow 23%
Boston
up arrow 18%
Phoenix
up arrow 14%
up arrow 12%
Irvine
up arrow 2%
National Average
$85,000
Minneapolis
up arrow 3%
Dallas
up arrow 4%
Richmond
up arrow 4%
Atlanta
up arrow 9%
Tampa
up arrow 12%
Larger circles over a city indicate a job is popular in that location.
Risk Managers will find that New York offers an impressive pay rate, one which exceeds the national average by 43 percent. Risk Managers can also look forward to large paychecks in cities like Columbus (+42 percent), San Francisco (+30 percent), Washington (+28 percent), and Houston (+24 percent). The smallest paychecks in the market, 12 percent south of the national average, can be found in Tampa. Not at the bottom but still paying below the median are employers in Atlanta and Dallas (9 percent lower and 4 percent lower, respectively).

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Experience Affects Risk Manager Salaries

National Average
$85,000

Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 76%
Security Risk Management
up arrow 40%
SAS
up arrow 16%
Financial Analysis
up arrow 12%
Data Analysis
up arrow 12%
Internal Audit
up arrow 6%
Risk Management / Risk Control
up arrow 4%
Project Management
up arrow 1%
National Average
$85,000
Insurance
up arrow 3%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 191 votes.

Gender

Female
46%
female alumni
 
Male
54%
male alumni

Years of Experience

Less than 1 year
2%
1-4 years
20%
5-9 years
31%
10-19 years
32%
20 years or more
16%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 81%
vision benefits Vision: 69% employee benefits None: 8%