Risk Manager Salary

Total annual pay for Risk Managers is approximately $85K, and commissions account for a significant portion of this final number — just under three-fifths on average. In the world of Risk Managers, overall income ranges from $52K near the bottom to $137K at the top; this can include more than $25K from bonuses and more than $10K from profit sharing in exceptional cases. Residence is the main element affecting pay for this group — years of experience and the individual firm are driving factors as well. Men working as Risk Managers who took the survey just slightly outnumber women at 50 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction for Risk Managers is high. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$53,026 - $123,267
(Median)
$53K
$82K
$120K
MEDIAN: $82,083
10%
50%
90%

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$17.84 - $42.61
(Median)
$18
$27
$43
MEDIAN: $27.00
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
$53,026 - $123,267  
   
Bonus
$292.77 - $24,782  
Profit Sharing
$197.27 - $10,116  
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).
)
$52,278 - $136,798  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,485
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
$17.84 - $42.61  
   
Overtime
$0.00 - $52.87  
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
$292.77 - $24,782  
   
Commission
$49,132  
Profit Sharing
$197.27 - $10,116  
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).
)
$52,278 - $136,798  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 82
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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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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 $120K on average per year. The most common next step for a Risk Manager is to become a Senior Risk Manager or a Risk Management Director. The former position pays an additional $29K per year on average, and the latter position pays $33K more per year.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


Heading up the field in terms of compensation, Citigroup, Inc. offers the most; Risk Managers earn $125K on average there.

With a median salary of only $102K, Bank of America Corp. (BOFA) pays the least. It seems that the compensation range of $63K to $137K isn't that wide, either.

Popular Skills for Risk Manager


Risk Managers seem to exploit a large range of skills on the job. Most notably, facility with Risk Consulting, SQL, and SAS are correlated to pay that is significantly above average, leading to increases of 36 percent, 24 percent, and 18 percent, respectively. Skills that pay less than market rate include Safety Compliance, OSHA Compliance, and Claim Handling. Those familiar with Insurance also tend to know Claim Handling.

Pay by Experience Level for Risk Manager

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


For many Risk Managers, extensive experience does not lead to significantly more money. The average worker who claims fewer than five years of experience earns around $72K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $88K. People with 10 to 20 years of experience make an average of about $96K in this role. Risk Managers with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $97K.

Pay Difference by Location

National Average: $84,636

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 San Francisco (+40 percent), Houston (+30 percent), Columbus (+26 percent), and Charlotte (+24 percent). Falling short of the national average by 10 percent, the area with the worst salaries is Tampa. Employers in Phoenix and Jacksonville also lean toward paying below-median salaries (10 percent lower and 3 percent lower, respectively).

Related Job Salaries

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Experience Affects Risk Manager Salaries




National Average
$85,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 36%

SQL
up arrow 24%

SAS
up arrow 18%

Data Analysis
up arrow 11%

Financial Analysis
up arrow 10%

Internal Audit
up arrow 6%

Risk Management / Risk Control
up arrow 3%

Microsoft Excel
up arrow 3%

Project Management
up arrow 2%

Regulatory Compliance
0%

National Average
$85,000






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 259 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
2%
1-4 years
21%
5-9 years
29%
10-19 years
32%
20 years or more
16%

Common Health Benefits

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