How much does a Risk Analyst make?
A Risk Analyst's job involves identifying and assessing risks for organizations. Their efforts lead to better decision-making and risk management. On average, Risk Analysts make about $98,734 each year. Salaries can vary widely depending on factors like experience, location, and the industry.
Here’s a closer look at the average salaries at different experience levels:
- Entry-level Risk Analysts earn around $45,679 per year.
- With a few years of experience, salaries can reach about $104,341.
- Experienced Risk Analysts can earn up to $192,334 per year.
What are the highest paying cities for a Risk Analyst?
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San Antonio, TX
Average Salary: $151,908
In San Antonio, professionals analyze risks for businesses with a focus on the local economy. The city hosts major companies where risk management is key, ensuring financial stability.
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Washington, DC
Average Salary: $132,446
Working in Washington, DC, offers the chance to assess risks in government and defense sectors. The area's political environment makes risk management highly important for stability.
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Buffalo, NY
Average Salary: $128,088
Buffalo provides a diverse market for risk analysis in manufacturing and finance. Companies value professionals who can navigate economic shifts and market changes.
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San Francisco, CA
Average Salary: $126,289
In San Francisco, risk analysts support tech giants with their complex operations. The fast-paced tech industry demands skilled professionals to manage risks effectively.
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Charlotte, NC
Average Salary: $122,958
Charlotte offers a strong financial sector for risk analysts. Working with banks and financial institutions, professionals help maintain the integrity of the financial system.
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San Jose, CA
Average Salary: $121,821
San Jose is home to many tech companies where risk analysts play a critical role. They ensure that these innovative businesses stay ahead of potential threats.
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Phoenix, AZ
Average Salary: $113,906
Phoenix presents a growing market for risk analysts. The city's diverse industries, from healthcare to tech, need experts to identify and mitigate risks.
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St. Louis, MO
Average Salary: $112,798
In St. Louis, risk analysts work in a mix of industries, including manufacturing and finance. The city’s economic environment values professionals who can foresee and manage risks.
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Seattle, WA
Average Salary: $112,312
Seattle's tech scene offers exciting opportunities for risk analysts. Working with companies like Amazon and Microsoft, professionals help ensure business continuity.
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Dallas, TX
Average Salary: $110,401
Dallas provides a vibrant market for risk analysts, especially in finance and energy. The city's strong economy makes risk management a key focus for businesses.
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What are the best companies a Risk Analyst can work for?
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Citi
Average Salary: $149,022
Citi offers Risk Analyst jobs that focus on managing financial risks. The company operates worldwide, with major hubs in New York, London, and Hong Kong.
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USAA
Average Salary: $136,711
USAA provides Risk Analyst roles that emphasize risk assessment for financial services. It is a key player in the U.S. financial sector, primarily serving military personnel and their families.
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Fannie Mae
Average Salary: $136,650
Fannie Mae offers Risk Analyst positions that deal with mortgage-related risks. The company is a major player in the U.S. housing market, headquartered in Washington, D.C.
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U.S. Bank
Average Salary: $115,492
U.S. Bank provides Risk Analyst jobs that focus on financial risk management. The bank has branches across the United States, with a significant presence in the Midwest.
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Booz Allen Hamilton
Average Salary: $113,769
Booz Allen Hamilton offers Risk Analyst roles that focus on cybersecurity and national security. The company operates globally, with headquarters in McLean, Virginia.
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SoFi
Average Salary: $110,400
SoFi offers Risk Analyst jobs that focus on financial risk assessment. The company provides various financial services online and has offices in San Francisco, New York, and Chicago.
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Navy Federal Credit Union
Average Salary: $107,787
Navy Federal Credit Union offers Risk Analyst roles that emphasize financial services risk management. The credit union serves the military community with branches across the U.S.
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The Cigna Group
Average Salary: $99,100
The Cigna Group offers Risk Analyst positions that focus on health insurance risk assessment. The company operates in many countries, with headquarters in Bloomfield, Connecticut.
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Scribd
Average Salary: $97,250
Scribd offers Risk Analyst jobs that deal with financial risk management for its subscription-based services. The company is headquartered in Hoboken, New Jersey.
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KeyBank
Average Salary: $91,636
KeyBank provides Risk Analyst roles focused on managing financial risks. The bank has branches across the United States, with a strong presence in the Northeast and Midwest.
How to earn more as a Risk Analyst?
A Risk Analyst looks at how a company might face problems and finds ways to avoid or reduce them. If you want to earn more in this role, focus on certain areas. Improving your skills and knowledge can lead to a higher salary. Good communication and strong relationships can help too. Being able to work in different industries or places can also increase your earnings.
Here are five key factors to consider for earning more as a Risk Analyst:
- Certifications: Earning specific certifications can make a big difference. For example, the Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA) certifications can show you have the skills needed.
- Experience: More years of experience often lead to higher pay. Working in different types of companies or industries can make your resume stronger and show you can handle many situations.
- Networking: Building a strong professional network can open up better job opportunities. Attend industry events and join professional groups to meet people who can help you advance.
- Specialization: Focusing on a specific area of risk analysis can make you more valuable. Specializing in areas like credit risk, market risk, or operational risk can help you stand out.
- Location: Where you work can affect your salary. Some cities and regions offer higher pay for Risk Analysts. Consider locations known for strong financial sectors.
