How much does a Risk Analyst make?
Becoming a Risk Analyst means entering a field where you can earn a steady income. On average, a Risk Analyst makes around $96,431 per year. This figure varies based on experience, location, and the industry.
Here’s a breakdown of how salaries differ at various experience levels:
- Fresh graduates can expect to make about $42,619 annually.
- Those with a couple of years of experience might see their salary rise to approximately $56,358 per year.
- Mid-career Risk Analysts often earn between $70,097 and $111,315 per year.
- Senior professionals in the field can make upwards of $138,793 per year.
- The very top earners in this profession can reach salaries of about $193,750 annually.
What are the highest paying cities for a Risk Analyst?
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San Antonio, TX
Average Salary: $139,030
In San Antonio, professionals assess risks for local businesses and large companies like Valero Energy. The city’s diverse economic base offers a variety of risk assessment opportunities. Working here means being part of a vibrant job market with room for growth.
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San Francisco, CA
Average Salary: $130,271
San Francisco offers risk management roles in tech giants such as Salesforce and LinkedIn. The city’s fast-paced tech industry demands skilled analysts to navigate complex risks. Job seekers here benefit from a dynamic environment and potential for innovation.
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San Jose, CA
Average Salary: $129,580
In San Jose, you can work with top tech firms like Apple and Cisco. The city’s tech-driven economy provides diverse risk assessment challenges. Professionals here enjoy a strong job market and a focus on forward-thinking solutions.
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Washington, DC
Average Salary: $127,152
Washington, DC, offers roles with government agencies and major corporations. Working here means dealing with political and economic risks. The city provides a unique mix of challenges and a strong sense of purpose.
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Buffalo, NY
Average Salary: $120,741
In Buffalo, risk analysts support local businesses and larger firms. The city’s manufacturing and healthcare sectors create diverse risk scenarios. Professionals here value stability and community involvement.
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Phoenix, AZ
Average Salary: $120,544
Phoenix offers risk analysis positions with companies like Honeywell and Freeport-McMoRan. The city’s growing economy provides many opportunities. Job seekers here enjoy a warm climate and expanding job market.
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Jacksonville, FL
Average Salary: $117,604
Jacksonville provides risk management roles with companies such as Fidelity National Financial and Jacksonville Shipyards. The city’s diverse industries offer various challenges. Professionals appreciate the balance between work and a relaxed lifestyle.
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Dallas, TX
Average Salary: $117,193
In Dallas, risk analysts work with big companies like AT&T and American Airlines. The city’s strong economy offers many opportunities. Job seekers here enjoy a vibrant job market and a friendly atmosphere.
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Omaha, NE
Average Salary: $115,721
Omaha offers risk analysis roles with companies like Berkshire Hathaway. The city’s strong financial sector provides stability. Professionals here value a supportive community and steady job growth.
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Charlotte, NC
Average Salary: $114,246
Charlotte provides risk management positions with banks and financial firms. The city’s banking industry creates many opportunities. Job seekers here enjoy a mix of urban and suburban living with a robust job market.
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What are the best companies a Risk Analyst can work for?
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Pacific Gas and Electric Company
Average Salary: $161,500
Pacific Gas and Electric Company (PG&E) offers Risk Analyst positions with a focus on mitigating operational risks. They work in locations such as California, Oregon, and Washington. They assess risks and develop strategies to ensure safety and compliance.
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Citi
Average Salary: $136,076
Citi employs Risk Analysts to manage financial and credit risks globally. Citi has offices worldwide. They evaluate financial data and trends to provide insights that guide strategic decisions.
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M&T Bank
Average Salary: $134,075
M&T Bank hires Risk Analysts to oversee financial risks within the banking sector. This company operates in several states, including New York and Pennsylvania. They analyze financial data and market conditions to protect the bank's assets.
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USAA
Average Salary: $126,540
USAA seeks Risk Analysts to manage risk for its members. They operate primarily in the U.S. They review financial trends and develop risk management strategies to ensure member protection and financial stability.
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Freddie Mac
Average Salary: $118,929
Freddie Mac provides Risk Analyst roles focused on mortgage-related risks. They have a presence in many states. They analyze mortgage data and market trends to ensure financial stability.
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Booz Allen Hamilton
Average Salary: $118,519
Booz Allen Hamilton employs Risk Analysts to assess and mitigate risks for various sectors. They have offices around the world. They conduct risk assessments and develop strategies to protect against potential threats.
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Charles Schwab
Average Salary: $118,189
Charles Schwab looks for Risk Analysts to manage financial and operational risks. They operate nationwide. They analyze financial data and market trends to guide decision-making and ensure stability.
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AIG
Average Salary: $117,000
AIG hires Risk Analysts to oversee insurance and financial risks. They have offices in many countries. They evaluate risk factors and develop strategies to mitigate potential losses.
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Fannie Mae
Average Salary: $115,607
Fannie Mae offers Risk Analyst positions focused on mortgage risks. They operate primarily in the U.S. They assess mortgage data and market trends to ensure financial stability and compliance.
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Navy Federal Credit Union
Average Salary: $115,522
Navy Federal Credit Union seeks Risk Analysts to manage financial risks. They have locations across the U.S. They analyze financial data to provide insights and strategies to protect the credit union's interests.
How to earn more as a Risk Analyst?
To enhance earnings as a Risk Analyst, consider focusing on several key factors that can boost your salary. One essential step involves gaining relevant certifications. Certifications such as the Financial Risk Manager (FRM) or the Professional Risk Manager (PRM) can make a candidate more competitive in the job market. These credentials demonstrate a deep understanding of risk management practices, often leading to higher-paying positions.
Another factor involves gaining experience in high-demand industries. Risk Analysts working in finance, insurance, or healthcare often command higher salaries due to the critical nature of their work. Seeking opportunities in these sectors can open doors to better-paying jobs. Additionally, developing strong analytical skills and proficiency in risk assessment software can make an analyst more valuable to employers. Continuous learning and staying updated with industry trends also play a crucial role. Attending workshops, seminars, and pursuing further education in risk management can lead to better career opportunities.
Here are five key factors to consider:
- Certifications: Obtain relevant certifications like FRM or PRM.
- Industry Experience: Work in high-demand sectors such as finance, insurance, and healthcare.
- Analytical Skills: Enhance proficiency in risk assessment and analysis.
- Technical Proficiency: Become skilled in risk management software.
- Continuous Learning: Attend workshops and pursue further education in risk management.
