Fraud Analyst Salary

Median pay for Fraud Analysts in the United States is around $16.52 per hour. Total cash earnings of Fraud Analysts range from $29K on the low end to $60K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $8K and $9K, respectively. Earnings for this group are mostly affected by geography, followed by years of experience and the individual firm. Women make up the majority of Fraud Analysts (62 percent) who completed the questionnaire. For the most part, Fraud Analysts enjoy their work and report high levels of job satisfaction. Most get medical and dental insurance, and a strong majority get vision plans, too. This overview is based on answers to PayScale's salary questionnaire.
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$33,559 - $67,018
$34K
$47K
$67K
MEDIAN: $46,622
10%
50%
90%

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$12.99 - $23.48
$13
$17
$23
MEDIAN: $16.64
10%
50%
90%

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$0$67K
Salary $33,559 - $67,018
Bonus $0.00 - $8,052
Profit Sharing $0.00 - $5,195
Commission $3,000
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).
)
$29,849 - $60,403
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 278
Hourly Data $0$36
Hourly Rate $12.99 - $23.48
Overtime $16.28 - $36.69
Annual Data $0$60K
Bonus $0.00 - $8,052
Commission $3,000
Profit Sharing $0.00 - $5,195
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).
)
$29,849 - $60,403
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 285

Job Description for Fraud Analyst

A fraud analyst specializes in investigating suspicious activities that could potentially include fraud. Fraud analysts often work with law enforcement officers, and they have an expansive knowledge of finance and relevant computer programs to perform their job. The job responsibilities of a fraud analyst include researching criminal fraud methods and tools, tracking financial data, creating reports, identifying and investigating possible fraudulent activities, and developing techniques and tools useful in the prevention of fraud. Fraud analysts are responsible for tracking criminal fraud, which may involve monitoring financial transactions and analyzing the data retrieved for irregular patterns. Fraud analyst work in a variety of industries, but they usually work in a private institution such as a bank.

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Fraud Analyst Tasks

  • Analyze data from multiple sources to identify discrepancies, spot fraud, and eliminate suspicion.
  • Educate staff and contractors on fraud and associated behaviors.
  • Write reports, and document evidence, findings, and recommendations.
  • Interview and elicit information from staff and contractors to resolve questions.

Common Career Paths for Fraud Analyst


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Many Fraud Analysts move into Fraud Investigator roles, in which average pay is a slightly higher $49K per year.

Fraud Analyst Job Listings

Popular Employer Salaries for Fraud Analyst


Known for taking on a considerable number of Fraud Analysts, Bank of America Corp. (BOFA), J.P. Morgan Chase & Co. (JPMCC), Chase Bank, Regions Bank, and American Express Co. (AMEX) are leading firms in the industry. With a median salary of $45K, Regions Bank offers Fraud Analysts the highest pay. However, earnings don't seem to live on a large spectrum; they generally peter out at $33K and are capped at $47K.

Popular Skills for Fraud Analyst


Survey results suggest that Fraud Analysts use a fairly large toolkit of professional skills. Most notably, facility with Bank Security Act Compliance, Banking, and Risk Management / Risk Control are correlated to pay that is significantly above average, leading to increases of 27 percent, 14 percent, and 13 percent, respectively. Those listing Microsoft Office as a skill should be prepared for drastically lower pay. Research Analysis and Customer Service also typically command lower compensation. Those familiar with Customer Service also tend to know SQL.

Pay by Experience Level for Fraud Analyst

Pay by Experience for a Fraud Analyst has a positive trend. An entry-level Fraud Analyst with less than 5 years of experience can expect to earn an average total compensation of $39,000 based on 375 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Fraud Analyst with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $45,000 based on 158 salaries. An experienced Fraud Analyst which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $47,000 based on 85 salaries. A Fraud Analyst with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $60,000 based on 14 salaries.

Pay Difference by Location

National Average: $42,211

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

For Fraud Analysts, busy San Francisco offers a higher-than-average pay rate, 46 percent above the national average. Fraud Analysts can also look forward to large paychecks in cities like Pasadena (+17 percent), Tampa (+13 percent), Seattle (+13 percent), and Los Angeles (+11 percent). Fraud Analysts in San Antonio earn salaries far below the national average by 26 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Employers pay around 19 percent less in Newark and 5 percent less in Dallas, below-median salaries for those in this field.

Fraud Analyst Reviews

Q: What is it like working as a Fraud Analyst?

Fraud Analyst in Carrollton:
"Stopping criminals from destroying companie and lives is rew."
Pros: I have the freedom to follow my instincts on cases. My company gives me the authority to make appropriate decisions to assist customers as well as make decisions on the proper steps to taken when an account holder is violating the program. I also love that I am able to work from home. I am so much more productive by being able to do this and the drive to and from work every day saves 2 hours and lots of gas, wear and tear on my vehicle and I don't have the stress of rush hour traffic.
Cons: My salary is still not ahere I feel it should be. I work very hard and take ownership in my role in the company and feel my salary should be a lot more than where I am currently.

Fraud Analyst in West Jordan:
"Interesting fun job."
Pros: I like the people I work with. I like the various projects and fraud patterns I investigate, it's interesting to learn more about how people steal money and commit ID theft on this world with so much data.
Cons: Tracking everything I do.

Fraud Analyst in Harrisburg:
"Very Interesting Thus Far."
Pros: The people I work with are great.
Cons: The pay and the hours.

Related Job Salaries

Key Stats for Fraud Analyst

Gender

Female
62 %
Male
38 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 111 votes.
Less than 1 year
8%
1-4 years
52%
5-9 years
22%
10-19 years
14%
20 years or more
3%

Experience Affects Fraud Analyst Salaries

Late-Career
▲42%

▲12%

▲6%

National Average
$42,000

▼8%

Skills That Affect Fraud Analyst Salaries

Bank Security Act Compliance
▲25%

Banking
▲13%


SQL
▲7%

Financial Analysis
▲7%


National Average
$42,000



Research Analysis
▼18%

Microsoft Office
▼25%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 111 votes.

Gender

Female
62 %
Male
38 %

Years of Experience

Less than 1 year
8%
1-4 years
52%
5-9 years
22%
10-19 years
14%
20 years or more
3%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 79%
vision benefits
Vision: 72%
no benefits
None: 14%