Risk Manager Salary

Earnings for Risk Managers in the United States come in at around $82K annually on average. Cash earnings for Risk Managers — which occasionally include more than $25K from bonuses and more than $10K from profit sharing — stretch from around $52K to approximately $134K. While tenure and the specific company impact pay for this group, geographic location is the most influential factor. Most workers in this position report high levels of job satisfaction. Men make up a slight majority of Risk Managers (51 percent) who responded to the survey. Most report receiving medical coverage from their employers and a large number collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.
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$52,701 - $121,630
(Median)
$53K
$82K
$120K
MEDIAN: $81,796
10%
50%
90%

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$18.06 - $41.25
(Median)
$18
$27
$41
MEDIAN: $26.00
10%
50%
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
$52,701 - $121,630  
   
Bonus
$0.00 - $24,651  
Profit Sharing
$10.14 - $10,234  
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).
)
$52,096 - $134,304  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 1,240
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
$18.06 - $41.25  
   
Overtime
$0.00 - $53.19  
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 - $24,651  
   
Profit Sharing
$10.14 - $10,234  
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).
)
$52,096 - $134,304  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 66
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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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There are some Risk Managers — though it's uncommon — that transition into Senior Risk Managers, where earnings are an average $112K annually.

Risk Manager Job Listings

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Popular Employer Salaries for Risk Manager


Offering a median of only $102K, Bank of America Corp. (BOFA) pays the least. Moreover, the compensation range seems pretty narrow; employees make $63K on the lower end and $137K on the higher end.

Popular Skills for Risk Manager


Survey respondents exploit a significant toolbox of skills in their work. Lucky workers who know Risk Consulting can expect a significant pay bump, scoring salaries 75 percent above average. SQL and Microsoft Excel are also correlated to pay that is above average, with increases between 24 percent and 75 percent. Skills that pay less than market rate include OSHA Compliance, Safety Compliance, and Claim Handling. Most people who know Insurance also 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. Salaries for the relatively untried average out to around $71K, but survey participants with five to 10 years of experience earn a significantly higher median of $87K. On average, Risk Managers make $95K following one to two decades on the job. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $98K.

Pay Difference by Location


For those looking to make money, Risk Managers in New York enjoy an exceptional pay rate, 45 percent above the national average. Risk Managers can also look forward to large paychecks in cities like San Francisco (+37 percent), Houston (+30 percent), Boston (+26 percent), and Washington (+25 percent). The smallest paychecks in the market, 9 percent south of the national average, can be found in Tampa. Employers in Atlanta and Los Angeles also lean toward paying below-median salaries (5 percent lower and 3 percent lower, respectively).

Related Job Salaries

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Experience Affects Risk Manager Salaries




National Average
$84,000


Skills That Affect Risk Manager Salaries

Risk Consulting
up arrow 75%

Microsoft Excel
up arrow 24%

SQL
up arrow 24%

Financial Analysis
up arrow 20%

SAS
up arrow 19%

Data Analysis
up arrow 13%

Internal Audit
up arrow 7%

Risk Management / Risk Control
up arrow 3%

Regulatory Compliance
up arrow 1%

Project Management
up arrow 1%

National Average
$84,000

Implementation Analyst
up arrow 3%





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 240 votes.

Gender

Female
49 %
Male
51 %

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%
vision benefits Vision: 69% employee benefits None: 9%
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