Risk Manager Salary (United States)

Risk Managers in the United States can expect to earn an average of $84,865 per year. Compensation ranges from $51,486 on the low end to $136,048 per year on the high end. Geography and career length each impact pay for this group, with the former having the largest influence. A solid majority enjoy medical while a strong majority get dental coverage in this occupation. Vision coverage is also available to about two-thirds. Women are just slightly outnumbered in the field, with male Risk Managers making up 54 percent of workers. The majority of Risk Managers claim high levels of job satisfaction. Responses to PayScale's salary questionnaire form the basis for this outline.
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  
PayScale
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  
PayScale
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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Risk Managers usually experience a big boost in pay as they move up the career ladder. An upper-level role like Senior Risk Manager may bring in a lot more money—an additional $27K annually.

Risk Manager Job Listings

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Popular Skills for Risk Manager

Risk Managers seem to exploit 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 seem to negatively impact pay include Safety Compliance, Claim Handling, and Implementation Analyst. It is often found that people who know Insurance are 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.
Across the entire workforce, experience and pay tend to be weakly linked—those with more experience do not necessarily bring in much higher salaries. After five to 10 years, starting salaries jump from $77K to $89K. Those who spend a decent amount of time in this profession—one to two decades—usually make about $100K. Salaries tend to grow less rapidly after achieving 20 years of experience, with more senior Risk Managers earning an average of $100K per year. Experienced employees who have 10-20 years of experience make up around one third of the workforce; inexperienced individuals who have been working for less than one year comprise 2 percent, and senior people with more than 20 years under their belt fill out the remaining 16 percent. More than half of respondents report having between one and nine years of experience in this field.

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.
For those looking to make money, Risk Managers in New York enjoy an exceptional pay rate, 43 percent above the national average. Columbus, San Francisco, Washington, and Houston also offer top salaries for Risk Managers. Workers in these cities can expect to earn about 42 percent, 30 percent, 28 percent, and 24 percent more, respectively. Those in the field find the lowest salaries in Tampa, 12 percent below the national average. Below-median salaries also turn up in Atlanta and Dallas (-9 percent and -4 percent, respectively).

Related Job Salaries

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%
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