$58,868
Avg. Salary
$18.84
Avg. Hourly Rate

Average additional compensation for this job:

Bonus

$3,038

Profit Sharing

$2,035

The average pay for a Fraud Investigator is $18.84 per hour.

The average pay for a Fraud Investigator is $58,868 per year.

$14
10%
$19
50%
$28
90%
MEDIAN $19
$39k
10%
$59k
50%
$85k
90%
MEDIAN $58,868
$39,173 - $85,458
$39K
$59K
$85K
MEDIAN: $58,868
10%
50%
90%

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$14.27 - $27.73
$14
$19
$28
MEDIAN: $18.84
10%
50%
90%

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$0$85K
Salary $39,173 - $85,458
Bonus $395 - $9,283
Profit Sharing $1.00 - $10,000
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).
)
$34,614 - $85,257
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2018
  • Individuals Reporting: 1,391
Hourly Data $0$44
Hourly Rate $14.27 - $27.73
Hourly Tips $2.19
Overtime $19.64 - $44.28
Annual Data $0$85K
Bonus $395 - $9,283
Profit Sharing $1.00 - $10,000
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).
)
$34,614 - $85,257
  • Country: United States
  • Currency: USD
  • Updated: 14 Oct 2018
  • Individuals Reporting: 477

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.

Read More...

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.

Fraud Investigator Pay By Employer

$0$96K

$65,085

$41,596

Geico
16 profiles
$62,504

$39,988

$64,902

Anthem
10 profiles
$65,640

Humana, Inc.
10 profiles
$65,621

Paypal, Inc.
9 profiles
$32,313

$41,423

HSBC
6 profiles
$59,352

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 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: $54,592

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 Advice

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

Fraud Investigator in Baton Rouge:
All experience that can be obtained through criminal investigations, interviewing and claims handling are needed.

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.

Fraud Investigator in Milwaukee:
"Not Much Continuing Education."
Boss does not push being a certified fraud investigator.

Fraud Investigator in Dallas:
"Hidden Crime Fighter."
It can be long hours sitting. Many times you don't know the outcome of our investigations. Many times you do not need any special degrees and some companies train in house. But there are certain insurance claims classes you can take.

Fraud Investigator in Virginia Beach:
Think outside the box, be creative, become familiar with fraud schemes, and learn everything you can about business systems and processes.

Fraud Investigator in Virginia Beach:
Think outside the box, be creative, become familiar with fraud schemes, and learn everything you can about business systems and processes.

Related Job Salaries

Key Stats for Fraud Investigator

Gender

Female
50 %
Male
50 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 287 votes.
Less than 1 year
5%
1-4 years
34%
5-9 years
22%
10-19 years
25%
20 years or more
14%

Experience Affects Fraud Investigator Salaries

▲19%

▲15%

▼0%

National Average
$55,000

▼16%

Skills That Affect Fraud Investigator Salaries

Insurance
▲25%


▲11%


Research Analysis
▲7%

Medicare
▲5%


Interviewing
▲3%


Regulatory Compliance
▲1%

National Average
$55,000

Fraud Investigation
▼4%

Risk Management / Risk Control
▼17%

Anti-Money Laundering (AML)
▼19%

Investigation
▼29%

Customer Service
▼36%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 287 votes.

Gender

Female
50 %
Male
50 %

Years of Experience

Less than 1 year
5%
1-4 years
34%
5-9 years
22%
10-19 years
25%
20 years or more
14%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 80%
vision benefits
Vision: 73%
no benefits
None: 11%