How much does a Fraud Analyst make?
A Fraud Analyst plays a key role in protecting businesses and organizations from financial losses due to fraud. This role involves investigating suspicious activities and ensuring compliance with regulations. The average yearly salary for a Fraud Analyst is $84,136. This figure can vary based on experience, location, and the specific industry.
Fraud Analysts can expect to earn different salaries depending on their level of experience. Entry-level positions may start around $37,000 per year. With a few years of experience, salaries can rise to about $66,754. More experienced professionals can earn upwards of $156,015 annually. The highest earners in this field can make over $200,000 per year. These figures highlight the potential for growth in this career path.
What are the highest paying cities for a Fraud Analyst?
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Seattle, WA
Average Salary: $128,426
In Seattle, professionals in this field work with tech giants like Amazon and Microsoft. They focus on protecting companies from financial losses due to fraudulent activities. The tech-savvy environment offers many opportunities for growth.
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San Francisco, CA
Average Salary: $123,124
San Francisco is home to many financial institutions. Analysts here play a key role in safeguarding these companies. They work closely with IT teams to implement robust security measures. The city's innovative spirit makes it an exciting place to work.
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Dallas, TX
Average Salary: $113,140
Dallas offers a vibrant job market for those in this role. Companies like AT&T and JPMorgan Chase rely on analysts to keep their systems secure. The city's strong economy provides many opportunities for career advancement.
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San Antonio, TX
Average Salary: $105,852
In San Antonio, professionals help major banks and financial firms prevent fraud. They work in a collaborative environment, often partnering with law enforcement. The city's growing tech scene offers many career opportunities.
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Charlotte, NC
Average Salary: $104,037
Charlotte is known as the banking capital. Analysts here are crucial in protecting financial institutions. They work with companies like Bank of America and Wells Fargo. The city's strong financial sector offers a stable career path.
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Chicago, IL
Average Salary: $94,792
Chicago offers a dynamic job market for those in this field. Major banks and insurance companies rely on analysts to keep their operations secure. The city's diverse economy provides many opportunities for growth and development.
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Fargo, ND
Average Salary: $93,697
Fargo, though smaller, has a strong financial sector. Professionals here work with local banks and financial institutions. They focus on preventing fraud and ensuring secure transactions. The city's community-oriented environment makes it a pleasant place to work.
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Austin, TX
Average Salary: $92,144
Austin is known for its tech and startup culture. Analysts here work with innovative companies to protect them from fraud. The city's vibrant atmosphere offers many opportunities for professional development.
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Minneapolis, MN
Average Salary: $91,153
Minneapolis offers a strong job market for those in this role. Major financial institutions like U.S. Bank rely on analysts to keep their systems secure. The city's friendly environment and strong economy make it a great place to work.
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Colorado Springs, CO
Average Salary: $90,105
In Colorado Springs, professionals work with a mix of military and civilian companies. They focus on protecting these organizations from financial fraud. The city's beautiful setting and strong job market offer a rewarding career path.
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What are the best companies a Fraud Analyst can work for?
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Intuit
Average Salary: $160,572
Intuit offers exciting opportunities for Fraud Analysts. They work in various locations, including Mountain View, California, and Tempe, Arizona. Intuit focuses on financial software and aims to empower people with tools for better financial management.
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Synchrony
Average Salary: $155,096
Synchrony provides a competitive salary for Fraud Analysts. They operate in several locations, such as Stamford, Connecticut, and Salt Lake City, Utah. Synchrony specializes in financial services, offering credit cards and banking solutions.
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USAA
Average Salary: $135,656
USAA offers rewarding roles for Fraud Analysts. They have offices in San Antonio, Texas, and Charlotte, North Carolina. USAA focuses on financial services for military members and their families.
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Citi
Average Salary: $101,810
Citi provides a solid salary for Fraud Analysts. They operate in many locations, including New York City, New York, and London, UK. Citi is a global bank offering various financial services.
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Barclays
Average Salary: $96,350
Barclays offers competitive pay for Fraud Analysts. They have offices in New York City, New York, and London, UK. Barclays is a major bank providing a range of financial services.
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Bank of America
Average Salary: $92,281
Bank of America offers a good salary for Fraud Analysts. They operate in many locations, including Charlotte, North Carolina, and New York City, New York. Bank of America is a leading financial institution.
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U.S. Bank
Average Salary: $80,212
U.S. Bank provides a solid salary for Fraud Analysts. They have offices in Minneapolis, Minnesota, and Phoenix, Arizona. U.S. Bank offers a range of banking and financial services.
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TEKsystems
Average Salary: $62,643
TEKsystems offers competitive pay for Fraud Analysts. They operate in many locations, including Atlanta, Georgia, and Chicago, Illinois. TEKsystems is a staffing and technology services company.
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PNC Financial Services Group
Average Salary: $59,195
PNC Financial Services Group offers a good salary for Fraud Analysts. They have offices in Pittsburgh, Pennsylvania, and Cincinnati, Ohio. PNC provides a range of banking and financial services.
How to earn more as a Fraud Analyst?
A career as a Fraud Analyst offers many opportunities for growth and increased earnings. By focusing on certain key areas, professionals can enhance their skills and value, leading to higher salaries. One effective way to increase earnings is through gaining specialized certifications. These credentials can demonstrate a deeper understanding of fraud detection and prevention, making an analyst more attractive to employers.
Another factor is gaining experience in high-demand industries. Industries such as finance, healthcare, and e-commerce often face significant fraud risks. Analysts with experience in these areas can command higher salaries due to their specialized knowledge. Networking with other professionals in the field also plays a crucial role. Attending industry conferences, joining professional organizations, and connecting with peers can lead to job opportunities that offer better pay. Additionally, taking on leadership roles or projects that require advanced analytical skills can result in higher compensation. Finally, staying updated with the latest fraud detection technologies and methodologies can make an analyst more effective and valuable to employers.
Here are five factors to consider for earning more as a Fraud Analyst:
- Obtain specialized certifications
- Gain experience in high-demand industries
- Network with other professionals
- Take on leadership roles
- Stay updated with the latest technologies
