Risk Manager Salary

Total annual pay for Risk Managers is approximately $87K, and commissions account for a significant portion of this final number — just below three-fifths on average. Total cash earnings of Risk Managers range from $55K on the low end to $140K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $26K and $15K, respectively. The most important factor affecting compensation for this group is location, followed by career duration and the individual firm. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the larger part. Most Risk Managers report high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 53 percent. Respondents to the PayScale salary survey provided the data for this report.
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$55,500 - $126,949
$55K
$85K
$130K
MEDIAN: $85,131
10%
50%
90%

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$17.99 - $42.46
$18
$29
$42
MEDIAN: $29.00
10%
50%
90%

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$0$140K
Salary $55,500 - $126,949
Bonus $1,517 - $25,748
Profit Sharing $0.00 - $14,681
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).
)
$54,755 - $140,343
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 995
Hourly Data $0$42
Hourly Rate $17.99 - $42.46
Overtime $37.05
Annual Data $0$140K
Bonus $1,517 - $25,748
Commission $49,132
Profit Sharing $0.00 - $14,681
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).
)
$54,755 - $140,343
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 52

Find Out Exactly What You Should Be Paid

United States (change)

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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At the upper end, Risk Managers who move into a Director of Risk Management role can end up with a hefty increase in pay. The average income for Directors of Risk Management is a much higher $119K 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 $27K per year on average, and the latter position pays $29K more per year.

Risk Manager Job Listings

Popular Employer Salaries for Risk Manager


Many Risk Managers can be found at Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Citigroup, Inc., Citibank, and American Express Co. (AMEX), firms that are at the top of the field. Risk Managers seeking a sizable paycheck can earn the most at Microsoft Corp, where the average salary comes to $128K.

The consistently lowest paying firm is Bank of America Corp. (BOFA), where the median salary is just $102K. There isn't much variation there, either; the pay scale ranges only from $63K to $137K.

Popular Skills for Risk Manager


Risk Managers report using a deep pool of skills on the job. Lucky workers who know SQL can expect a significant pay bump, scoring salaries 25 percent above average. SAS and Risk Consulting are also correlated to pay that is above average, with increases between 14 percent and 25 percent. At the other end of the pay range are skills like OSHA Compliance, Safety Compliance, and Implementation Analyst. Most people skilled in Insurance are similarly competent in 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: $87,381

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

San Francisco is home to an above-average pay rate for Risk Managers, 36 percent higher than the national average. Risk Managers will also find cushy salaries in New York (+35 percent), Los Angeles (+32 percent), Seattle (+31 percent), and Wilmington (+26 percent). Trailing the national average by 14 percent, Jacksonville is the market with the smallest paychecks. Below-median salaries also turn up in Miami and Houston (5 percent lower and 2 percent lower, respectively).

Risk Manager Reviews

Q: What is it like working as a Risk Manager?

Risk Manager in Stroud:
Pros: Helping general public, investigating.
Cons: Stress, time consuming, personnel.

Risk Manager in San Diego:
"Stress."
Pros: Being able to solve problems and help people for the right reasons.
Cons: Complaints.

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
2%
1-4 years
24%
5-9 years
23%
10-19 years
34%
20 years or more
17%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Risk Manager Salaries

▲11%

▲10%

▲1%

National Average
$87,000

▼21%

Skills That Affect Risk Manager Salaries

SQL
▲25%

SAS
▲25%

Risk Consulting
▲14%


Internal Audit
▲3%


National Average
$87,000

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
2%
1-4 years
24%
5-9 years
23%
10-19 years
34%
20 years or more
17%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 79%
vision benefits
Vision: 69%
no benefits
None: 10%
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