How much does a Risk Specialist make?
A Risk Specialist plays a key role in identifying and managing risks for businesses. This role often requires a mix of analytical skills and industry knowledge. The average yearly salary for a Risk Specialist is around $98,719. This figure can vary based on experience, location, and the specific industry.
The salary range for a Risk Specialist can be quite broad. At the lower end, some specialists earn around $42,000 per year. As experience grows, salaries can climb significantly. For those with more than 20 years of experience, salaries can reach up to $200,000 annually. This wide range reflects the importance of the role and the value companies place on effective risk management.
What are the highest paying cities for a Risk Specialist?
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Washington, DC
Average Salary: $126,396
In Washington, DC, professionals in risk management play a key role in government and large corporations. They assess risks and develop strategies to protect assets. Companies like Deloitte and the U.S. Department of Defense often seek skilled risk managers.
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Charlotte, NC
Average Salary: $125,019
Charlotte, NC, known as a financial hub, offers many opportunities for risk specialists. They work with major banks and financial institutions. Companies like Bank of America and Wells Fargo value their expertise in managing financial risks.
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Boston, MA
Average Salary: $122,157
Boston, MA, is a city rich in history and innovation. Risk specialists here focus on technology and healthcare. They help companies like General Electric and Biogen manage risks effectively. The city's vibrant business environment offers many growth opportunities.
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San Francisco, CA
Average Salary: $118,357
San Francisco, CA, is a tech-driven city where risk specialists are in high demand. They work with tech giants like Google and Salesforce. These professionals help companies navigate the fast-paced tech landscape and ensure business continuity.
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Chicago, IL
Average Salary: $117,010
In Chicago, IL, risk specialists work in diverse industries, including finance and manufacturing. They help companies like JPMorgan Chase and Boeing manage risks. The city's strong business community offers many opportunities for career advancement.
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Seattle, WA
Average Salary: $113,301
Seattle, WA, is a hub for tech and aerospace companies. Risk specialists here focus on innovation and sustainability. They work with companies like Microsoft and Boeing. The city's dynamic environment offers many chances for professional growth.
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Dallas, TX
Average Salary: $111,120
Dallas, TX, is a growing business center with many opportunities for risk specialists. They work in finance, energy, and technology. Companies like AT&T and ExxonMobil value their expertise. The city's vibrant economy offers many career paths.
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Minneapolis, MN
Average Salary: $107,354
Minneapolis, MN, offers a mix of industries for risk specialists. They work in finance, healthcare, and insurance. Companies like UnitedHealth Group and Target value their skills. The city's strong business community offers many opportunities for growth.
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Tampa, FL
Average Salary: $106,900
In Tampa, FL, risk specialists work in insurance and healthcare. They help companies like Florida Blue and Raymond James manage risks. The city's growing economy offers many opportunities for career advancement.
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Austin, TX
Average Salary: $105,533
Austin, TX, is a tech and innovation hub with many opportunities for risk specialists. They work with companies like Dell and Apple. The city's vibrant business environment offers many chances for professional growth.
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What are the best companies a Risk Specialist can work for?
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Wells Fargo
Average Salary: $183,350
Wells Fargo offers Risk Specialist jobs with a focus on managing financial risks. The company operates in many locations across the United States, including major cities like New York, San Francisco, and Charlotte.
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Citi
Average Salary: $159,887
Citi provides Risk Specialist positions with a strong emphasis on global risk management. Citi operates in numerous countries, including the United States, Europe, and Asia.
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EY
Average Salary: $129,404
EY offers Risk Specialist jobs that focus on consulting and advisory services. The company operates in many locations worldwide, including major cities like London, New York, and Sydney.
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Amazon.com
Average Salary: $119,548
Amazon.com provides Risk Specialist jobs with a focus on technology and e-commerce. The company operates in many locations worldwide, including major cities like Seattle, New York, and London.
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TD Bank
Average Salary: $114,406
TD Bank offers Risk Specialist jobs with a focus on financial services. The company operates in many locations across the United States, including major cities like Toronto, New York, and Miami.
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Deloitte
Average Salary: $108,062
Deloitte provides Risk Specialist jobs that focus on consulting and advisory services. The company operates in many locations worldwide, including major cities like New York, London, and Sydney.
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Huntington Bank
Average Salary: $103,875
Huntington Bank offers Risk Specialist jobs with a focus on financial services. The company operates in many locations across the United States, including major cities like Columbus, Chicago, and Los Angeles.
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USI Insurance Services
Average Salary: $88,681
USI Insurance Services provides Risk Specialist jobs with a focus on insurance services. The company operates in many locations across the United States, including major cities like New York, Chicago, and Los Angeles.
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KSI
Average Salary: $87,500
KSI offers Risk Specialist jobs with a focus on insurance services. The company operates in many locations across the United States, including major cities like New York, Chicago, and Los Angeles.
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U.S. Bank
Average Salary: $80,119
U.S. Bank provides Risk Specialist jobs with a focus on financial services. The company operates in many locations across the United States, including major cities like Minneapolis, San Francisco, and New York.
How to earn more as a Risk Specialist?
A Risk Specialist plays a crucial role in identifying and managing risks for organizations. To earn more in this field, consider these key factors. Gaining relevant experience and certifications can significantly boost earning potential. Specialized knowledge in areas like financial risk, operational risk, or cybersecurity can set a Risk Specialist apart from the competition. Networking with industry professionals and staying updated on the latest trends can open doors to higher-paying opportunities. Seeking roles in high-demand industries such as finance, insurance, or technology can also lead to better compensation. Lastly, demonstrating strong analytical skills and the ability to provide actionable insights can make a Risk Specialist more valuable to employers.
To maximize earnings, a Risk Specialist should focus on continuous learning and professional development. Attending workshops, seminars, and obtaining certifications like the Financial Risk Manager (FRM) or the Certified Risk Management Professional (CRMP) can enhance credibility and salary prospects. Collaborating with cross-functional teams and contributing to risk management strategies can also lead to higher-level positions. Engaging in mentorship and leadership roles within the organization can further increase earning potential. By prioritizing these factors, a Risk Specialist can position themselves for greater financial rewards.
