How much does a Risk Analyst make?
A Risk Analyst plays a key role in helping companies manage potential risks. They look at data and trends to predict problems that might affect the business. This job can be very rewarding, both in terms of job satisfaction and salary. The average yearly salary for a Risk Analyst is around $99,408. This means that, on average, Risk Analysts earn a good income.
The salary of a Risk Analyst can vary based on experience and location. Those just starting out might earn closer to $49,300. As they gain more experience, their salary can increase significantly. Top earners in this field can make over $200,000 a year. This shows that there is a lot of potential for growth in this career. Companies often value the skills of a Risk Analyst, which can lead to higher pay and better job opportunities.
What are the highest paying cities for a Risk Analyst?
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San Antonio, TX
Average Salary: $151,198
In San Antonio, professionals in risk management enjoy a vibrant job market. Companies like Frost Bank and USAA offer dynamic roles. The city's growing economy provides diverse opportunities.
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San Jose, CA
Average Salary: $122,630
San Jose is a hub for tech companies, making it a great place for risk analysts. Firms like Adobe and PayPal need skilled professionals. The city offers a mix of challenges and growth.
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Phoenix, AZ
Average Salary: $118,811
Phoenix offers a warm climate and a strong job market for risk analysts. Companies such as American Express and Honeywell provide excellent opportunities. The city's growth attracts many professionals.
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Charlotte, NC
Average Salary: $118,479
Charlotte is known for its financial sector, offering many jobs for risk analysts. Banks like Bank of America and Wells Fargo are prominent employers. The city provides a stable environment for career growth.
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St. Louis, MO
Average Salary: $114,547
St. Louis has a diverse job market, with opportunities for risk analysts in finance and insurance. Companies like Edward Jones and Centene Corporation are key employers. The city offers a balanced lifestyle.
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Washington, DC
Average Salary: $111,223
Washington, DC, is a political and financial center, offering many roles for risk analysts. Firms like Deloitte and the World Bank need skilled professionals. The city provides a dynamic and impactful work environment.
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Boston, MA
Average Salary: $110,939
Boston offers a rich history and a strong job market for risk analysts. Companies like State Street and Fidelity Investments provide excellent opportunities. The city's education and innovation attract many professionals.
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Buffalo, NY
Average Salary: $108,508
Buffalo has a growing job market for risk analysts, with opportunities in finance and healthcare. Companies like M&T Bank and Blue Cross Blue Shield offer good roles. The city's cost of living is affordable.
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Seattle, WA
Average Salary: $108,283
Seattle offers a vibrant job market for risk analysts, with tech and finance sectors thriving. Companies like Amazon and Microsoft need skilled professionals. The city's culture and environment are attractive.
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Tampa, FL
Average Salary: $107,658
Tampa provides a warm climate and a growing job market for risk analysts. Companies like Raymond James and TECO Energy offer opportunities. The city's cost of living is reasonable, making it an attractive choice.
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What are the best companies a Risk Analyst can work for?
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USAA
Average Salary: $149,830
USAA offers Risk Analyst jobs with a focus on financial services. They operate in the United States and provide various financial products and services to military members and their families. USAA values teamwork and innovation, making it a great place for Risk Analysts.
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Synchrony
Average Salary: $141,667
Synchrony provides Risk Analyst positions with a focus on consumer finance. They operate across the United States and offer a dynamic work environment. Synchrony emphasizes collaboration and professional growth, making it an attractive choice for Risk Analysts.
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Citi
Average Salary: $136,874
Citi offers Risk Analyst jobs with a global presence. They operate in many countries and provide a wide range of financial services. Citi values diversity and innovation, offering Risk Analysts opportunities to work on complex projects.
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Mastercard
Average Salary: $130,542
Mastercard provides Risk Analyst positions with a focus on payment technology. They operate worldwide and offer a collaborative work environment. Mastercard emphasizes continuous learning and development, making it a good place for Risk Analysts.
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Freddie Mac
Average Salary: $127,000
Freddie Mac offers Risk Analyst jobs with a focus on mortgage-related services. They operate in the United States and provide a stable work environment. Freddie Mac values integrity and teamwork, making it an excellent choice for Risk Analysts.
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PayPal
Average Salary: $122,032
PayPal provides Risk Analyst positions with a focus on digital payments. They operate globally and offer a fast-paced work environment. PayPal emphasizes innovation and customer focus, making it an attractive choice for Risk Analysts.
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Fannie Mae
Average Salary: $120,083
Fannie Mae offers Risk Analyst jobs with a focus on mortgage finance. They operate in the United States and provide a supportive work environment. Fannie Mae values collaboration and professional development, making it a good place for Risk Analysts.
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M&T Bank
Average Salary: $117,580
M&T Bank provides Risk Analyst positions with a focus on banking services. They operate in the United States and offer a community-focused work environment. M&T Bank values integrity and teamwork, making it a good choice for Risk Analysts.
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EY
Average Salary: $116,846
EY offers Risk Analyst jobs with a focus on consulting services. They operate globally and provide a dynamic work environment. EY emphasizes professional growth and innovation, making it a great place for Risk Analysts.
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Fidelity Investments
Average Salary: $114,030
Fidelity Investments provides Risk Analyst positions with a focus on investment services. They operate in the United States and offer a stable work environment. Fidelity Investments values integrity and teamwork, making it a good choice for Risk Analysts.
How to earn more as a Risk Analyst?
A Risk Analyst can increase their earnings by focusing on several key areas. Gaining experience and expertise in specific industries can lead to higher-paying positions. For example, working in finance or healthcare often comes with higher salaries. Continuing education and obtaining certifications can also boost earning potential. Certifications like the Financial Risk Manager (FRM) or the Chartered Financial Analyst (CFA) are highly valued.
Networking with other professionals in the field can open doors to better job opportunities. Attending industry conferences and joining professional organizations can help build connections. Staying updated on the latest trends and technologies in risk analysis is crucial. This knowledge can make a Risk Analyst more valuable to employers. Finally, seeking out roles in larger companies or those with a global presence can lead to higher salaries. These organizations often have more resources to invest in their employees.
Here are five factors to consider for earning more as a Risk Analyst:
- Gain industry-specific experience.
- Obtain relevant certifications.
- Network with other professionals.
- Stay updated on industry trends.
- Seek roles in larger companies.
