How Much Do Risk Managers Make
Risk Manager Salary
In the United States, the risk manager salary is between $81,000 and $110,000, in addition to some other benefits. A risk manager salary is very high because they are expected to carry out an assessment of the business operations of his employer-company and identify the potential threats to the business of the company. After this, the risk manager will create a plan for eliminating the threats and prevent their reoccurring in the future.
Risk Managers From These Universities Are Paid Higher
Walden University - M.B.A – Risk Management.
Walden University Risk Management degree programs are customized to advance your knowledge and help students apply that knowledge to their careers. Walden also provides excellent student support and guidance to help their students achieve their career as Risk Managers.
Kaplan University - B.S – Risk Management.
Kaplan University is one of our top Risk Management degree universities. Kaplan also provides intensive and comprehensive education both onsite and online to excel their students in the career of a Risk Manager.
Post University is one of the top universities providing business administration degrees. Post University offers an exciting & challenging education environment for their students to be specialized in general business.
How Much Do Risk Managers Make In 2013
Risk Manager Salary In Different Industries
The industry is one of the important factors which determine the risk manager salary. For instance, as at 2012, a certified risk manager in the healthcare industry earns from $56,980 to $84,588 per year. Even within the same industry, the position occupied could make a difference, especially if the manager occupies an executive position. At this level, the annual salary ranges from $72,420 to $105,710. In most cases, as a risk manager in the healthcare industry, the person is not directly involved in patient care. Instead, he provides support to the family or a patient, in addition to the members of the healthcare team after a medical error or an adverse event.
Then in the banking sector, the risk manager earns more, in most cases ranging from $67,258 to $91,890 per year. The risk manager salary in this industry is more because he/she will be addressing multiple fraud threats in the accounts of customers, monitoring ATM and debit card fraud, and many others. It is the responsibility of the risk manager to always deliver a comprehensive and scalable enterprise platform for detecting and preventing fraud which could cover multiple channels and product lines.
How To Become A Risk Manager & How Much Do Entry-Level Risk Managers Make
At least a bachelor’s degree is needed if you want to become a risk manager. The entry-level salary for a risk manager here is between $50,000 and $85,000, but a master’s degree on risk management, finance, insurance, risk theory, and profit prevention and loss gives you a larger salary at the end of the year (usually between $82,399 and $115,155).
Before you become a risk manager, you first need to complete internships through which you will gain some practical experience in the field. After getting employed, your employer is also likely to give you on-the-job training as a new risk manager so as to have an idea of the necessary procedures and policies.
How To Increase Your Salary As A Risk Manager
Increasing your salary as a risk manager depends on other certifications you obtained from recognized professional institutions such as the Public Risk Management Association and the American Risk and Insurance Association. To increase the risk manager salary, stay abreast with advancements in the field, keep skills up to date, and maintain certifications, it is necessary for the person to complete regular continuing education.
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