Fraud Investigator Salary

Fraud Investigators in the United States can expect wages of $59K per year on average. In the world of Fraud Investigators, overall cash allowance can occasionally include more than $9K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $34K and $83K. This group's pay is mainly influenced by the specific employer, followed by the particular city and experience level. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a strong majority. Most workers in this position report high levels of job satisfaction. Male Fraud Investigators are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 51 percent of the field. The data in this summary comes from the PayScale salary survey.
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$39,171 - $84,741
$39K
$60K
$85K
MEDIAN: $59,548
10%
50%
90%

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$14.02 - $28.01
$14
$19
$28
MEDIAN: $18.55
10%
50%
90%

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$0$85K
Salary $39,171 - $84,741
Bonus $204 - $9,333
Profit Sharing $10.14 - $9,744
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).
)
$34,416 - $85,034
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 757
Hourly Data $0$43
Hourly Rate $14.02 - $28.01
Hourly Tips $2.19
Overtime $17.59 - $43.19
Annual Data $0$85K
Bonus $204 - $9,333
Profit Sharing $10.14 - $9,744
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).
)
$34,416 - $85,034
  • Country: United States
  • Currency: USD
  • Updated: 18 Nov 2017
  • Individuals Reporting: 276

Job Description for Fraud Investigator

In general, fraud investigators work to determine whether individuals or organizations have attempted deception to realize a financial benefit. Fraud investigation applications are numerous, and so fraud investigators typically specialize in a particular field, such as insurance or accounting. The vast majority of fraud investigator work within the field of insurance, due to the high inherent potential for insurance fraud and the volume of fraud cases that occur annually.

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Fraud Investigator Tasks

  • Investigate fraud by obtaining statements of fact, depositions or confessions from complainants, employers and witnesses.
  • Oversee the development and implementation of fraud prevention, detection and resolution strategies.
  • Research records and obtain, analyze, and appraise evidentiary data.
  • Perform desk and on-site investigational audits.
  • Develop, perform, and present fraud cases.

Common Career Paths for Fraud Investigator


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Though some Fraud Investigators move into positions like Fraud Manager (where the average salary is $70K), this progression is not the norm. However, it's more common for Fraud Investigators to move into roles as Loss Prevention Investigators or Security Managers.

Fraud Investigator Job Listings

Popular Employer Salaries for Fraud Investigator


Dominating the field, J.P. Morgan Chase & Co. (JPMCC), Wells Fargo Bank, Capital One Financial Corp, Geico, and Amazon.com Inc are top firms with a reputation for hiring a great number of Fraud Investigators. The biggest paychecks can be found at Humana, Inc. — the median salary there is $72K. Fraud Investigators will also find cushy salaries at Geico (+$69K), J.P. Morgan Chase & Co. (JPMCC) (+$65K), and UnitedHealth Group (+$63K).

Also approaching the lower end are Paypal, Inc. at $39K, Capital One Financial Corp at $40K, and Citibank at $40K.

Popular Skills for Fraud Investigator


Survey results imply that Fraud Investigators deploy a deep pool of skills on the job. Most notably, facility with Insurance, Forensic Interviewing, and Auditing are correlated to pay that is significantly above average, leading to increases of 26 percent, 20 percent, and 11 percent, respectively. Those listing Customer Service as a skill should be prepared for drastically lower pay. Investigation and Anti-Money Laundering also typically command lower compensation. Those proficient in Data Analysis are, more often than not, also skilled in Auditing and Medicaid Fraud Investigation.

Pay by Experience Level for Fraud Investigator

Pay by Experience for a Fraud Investigator has a positive trend. An entry-level Fraud Investigator with less than 5 years of experience can expect to earn an average total compensation of $46,000 based on 495 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Fraud Investigator with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $55,000 based on 295 salaries. An experienced Fraud Investigator which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $63,000 based on 274 salaries. A Fraud Investigator with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $65,000 based on 117 salaries.

Pay Difference by Location

National Average: $54,807

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

Fraud Investigators will find that Boston offers an impressive pay rate, one which exceeds the national average by 25 percent. Fraud Investigators will also find cushy salaries in New York (+20 percent), San Francisco (+19 percent), Chicago (+17 percent), and Los Angeles (+13 percent). Fraud Investigators in Orlando take home the lowest salaries, earning a whopping 27 percent less than the national average. Employers pay around 26 percent less in Austin and 22 percent less in Columbus, below-median salaries for those in this field.

Fraud Investigator Reviews

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

Fraud Investigator in Tucson:
"Catching people that are de frauding the program."
Pros:
Cons: The Pay is terrible and the Department is has been going down hill.

Fraud Investigator in Orlando:
"Different everyday."
Pros: I like the variety daily of going somewhere different for a case, it doesn't feel like I'm working and believe I have found my career.
Cons: Mileage rate could see an increase, along with hourly rate of course.

Fraud Investigator in Allentown:
Pros: Good benefits and paid time off. Decent pay, could be better.
Cons: Dealing with fraudsters. Unethical team members competing for stats.

Related Job Salaries

Key Stats for Fraud Investigator

Gender

Female
50 %
Male
50 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 160 votes.
Less than 1 year
5%
1-4 years
36%
5-9 years
20%
10-19 years
25%
20 years or more
13%

Experience Affects Fraud Investigator Salaries

▲19%

▲15%

▼0%

National Average
$55,000

▼17%

Skills That Affect Fraud Investigator Salaries

Insurance
▲24%



▲10%

Research Analysis
▲7%

Medicare
▲5%


Interviewing
▲3%


Regulatory Compliance
▼0%

National Average
$55,000

Fraud Investigation
▼4%

Risk Management / Risk Control
▼17%

Anti-Money Laundering (AML)
▼19%

Investigation
▼29%

Customer Service
▼37%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 160 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
5%
1-4 years
36%
5-9 years
20%
10-19 years
25%
20 years or more
13%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 79%
vision benefits
Vision: 71%
no benefits
None: 11%