How much does a Risk Analyst make?
A Risk Analyst studies and evaluates risks in various industries. They help companies avoid potential dangers that could lead to financial losses. The average yearly salary for this job is $99,630. This means, on average, Risk Analysts earn almost $100,000 each year. Some analysts can earn less or more, depending on their experience and where they work.
The salary for a Risk Analyst can vary widely. Some earn as little as $47,564 a year, while others can make up to $207,000 or more. Here are some possible earnings at different levels: $62,058, $76,552, $91,046, $105,541, $120,035, $134,529, $149,023, $163,517, $178,012, and $192,506. These figures show that there are opportunities for growth and higher earnings in this field.
What are the highest paying cities for a Risk Analyst?
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San Antonio, TX
Average Salary: $151,908
In San Antonio, working in risk management offers good opportunities. Many financial firms, like Frost Bank, rely on experts to keep their operations safe. Being a risk analyst here means you'll help these companies stay secure and compliant.
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Washington, DC
Average Salary: $126,252
Washington, DC, is home to many federal agencies and international organizations. Risk analysts here play a key role in safeguarding these entities. Working for the government or big firms can be both rewarding and stable.
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Buffalo, NY
Average Salary: $124,820
Buffalo offers a blend of stability and growth in risk management. Companies like KeyBank value experts who can identify and mitigate risks. Working here means being part of a community that values financial security.
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Charlotte, NC
Average Salary: $122,308
Charlotte is known as a financial hub. Risk analysts here work with top banks like Bank of America and Wells Fargo. This city offers many chances to grow in a dynamic environment focused on financial health.
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San Francisco, CA
Average Salary: $121,590
In San Francisco, risk analysts find opportunities in tech and finance. With companies like PayPal and Visa, the focus is on cutting-edge risk management. Working here means being at the forefront of financial innovation.
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San Jose, CA
Average Salary: $121,466
San Jose is a tech-driven city, home to many startups and big tech companies. Risk analysts here help these companies navigate the complex tech landscape. It's a great place for those who love technology and risk management.
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Phoenix, AZ
Average Salary: $113,906
Phoenix offers a growing market for risk analysts. With companies like State Farm and American Express, the demand for risk management is high. Working here means being part of a city that values financial safety and innovation.
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Seattle, WA
Average Salary: $113,707
Seattle is known for its tech giants like Amazon and Microsoft. Risk analysts here help these companies manage risks in a fast-paced environment. It's a place where tech and risk management go hand in hand.
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St. Louis, MO
Average Salary: $112,910
St. Louis offers a mix of industries for risk analysts. With companies like Edward Jones and Centene Corporation, there are many opportunities to work in financial services. It's a city that values stability and risk management.
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Dallas, TX
Average Salary: $107,198
Dallas is a hub for finance and energy. Risk analysts here work with major firms like AT&T and JPMorgan Chase. It's a dynamic city where managing risk is crucial for success.
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What are the best companies a Risk Analyst can work for?
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Synchrony
Average Salary: $188,261
Synchrony offers exciting opportunities for Risk Analysts. They focus on credit risk and financial modeling. This company operates nationwide, with key offices in Sandy, Utah, and Richmond, Virginia.
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USAA
Average Salary: $144,488
USAA values risk analysts who can handle insurance and financial services. They seek to protect their members. USAA operates primarily in Texas, with major offices in San Antonio and Houston.
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Citi
Average Salary: $144,125
Citi hires Risk Analysts for its global operations. They focus on credit risk management. Citi has offices worldwide, with significant locations in New York and London.
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Fannie Mae
Average Salary: $136,650
Fannie Mae provides Risk Analyst roles in mortgage risk assessment. They support the housing market. Fannie Mae operates nationally, with a key office in Washington, D.C.
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Mastercard
Average Salary: $126,542
Mastercard seeks Risk Analysts to manage financial fraud and transactions. They operate globally, with headquarters in Purchase, New York.
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Booz Allen Hamilton
Average Salary: $119,808
Booz Allen Hamilton offers Risk Analyst positions focusing on national security. They have offices nationwide, with major locations in McLean, Virginia, and St. Louis, Missouri.
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Fidelity Investments
Average Salary: $116,617
Fidelity Investments hires Risk Analysts for asset management. They focus on investment risk. Fidelity operates primarily in Massachusetts, with key offices in Boston and Waltham.
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U.S. Bank
Average Salary: $115,339
U.S. Bank offers Risk Analyst roles in commercial and retail banking. They focus on credit and market risk. U.S. Bank has offices across the country, with a major hub in Minneapolis, Minnesota.
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SoFi
Average Salary: $110,400
SoFi hires Risk Analysts to manage lending and investment risks. They operate nationwide, with a significant presence in San Francisco, California.
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Navy Federal Credit Union
Average Salary: $103,771
Navy Federal Credit Union offers Risk Analyst positions focused on financial services for military members. They have offices across the country, with a key location in Vienna, Virginia.
How to earn more as a Risk Analyst?
Becoming a Risk Analyst involves understanding and managing risks that could impact an organization. To earn more in this role, focus on enhancing key areas that demonstrate value and expertise. One way to achieve this is by continually improving analytical skills. This allows an analyst to provide deeper insights and better decision-making support to the organization. Another important factor is gaining certifications that are highly regarded in the industry, such as the Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA). These credentials can set an analyst apart and justify a higher salary.
Networking and building strong relationships with colleagues and industry professionals can also lead to higher earning opportunities. Attending conferences, joining professional associations, and participating in industry forums can open doors to new job prospects and salary negotiations. Staying updated with the latest trends and technologies in risk management can also boost an analyst's earning potential. Finally, seeking opportunities for leadership roles within the organization can lead to higher pay. Taking on more responsibility and demonstrating the ability to lead projects and teams can make an analyst more valuable to employers.
Focusing on these factors can help risk analysts increase their earnings:
- Enhance analytical skills
- Earn relevant certifications
- Build a strong professional network
- Stay updated with industry trends
- Seek leadership opportunities
