In this career summary, you will find out what the job of A Risk Management Specialist is about and what it is like.
After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.
Risk Management Specialists analyze and manage risk management issues by identifying, measuring, and making decisions on operational or enterprise risks for an organization.
- Document, and ensure communication of, key risks.
- Maintain input or data quality of risk management systems.
- Recommend ways to control or reduce risk.
- Identify key risks and mitigating factors of potential investments, such as asset types and values, legal and ownership structures, professional reputations, customer bases, or industry segments.
$72480 per year
$34.85 an hour
Risk Management Specialists with little to no experience tend to make between $37360 and $49590 while the more experienced ones make over $88590 per year.
|Top 5 paying states||Hourly||Annual|
1 of the easiest ways to increase your salary as A Risk Management Specialist is to move to a higher paying state like DC. Right now, the highest paying states for Risk Management Specialists are DC, NY, VA, MA and PA.
However a higher pay at DC doesn’t guarantee that you will make more because the living expenses at DC might be 2x higher than where you are currently at now.
3 other factors that can increase your salary as A Risk Management Specialist is the degree you hold, the industry you work in and lastly the company you work for (bigger companies like the Fortune 500 companies tend to pay more).
Recommended degree level
We asked other Risk Management Specialists what degree they had when they got the job and most of them said they had a Bachelors degree followed by Master’s degree.
Other than that we also asked them what did they major in and here are the most popular majors that came up.
Another popular question from our readers is what makes A Risk Management Specialist successful or would they be good in this career.
Well, we found that most successful Risk Management Specialists have these 5 skillsets.
In addition to that, 1 common characteristic among successful Risk Management Specialists is they are good at Attention to Detail. Here are the top 5 common characteristics.
|Attention to Detail |
= Hot in-demand that most employers are looking for
Pros and Cons
Here are some reasons why you should and shouldn’t choose A Risk Management Specialist as your career.
|Suitable for people who likes to follow routines|
|Suitable for people who values achievements and are resultsoriented|
|This career is perfect for people who love to work indoors.|
|Very good salary|
|Not suitable for people who likes to help and teach others|
|It is hard to get into this career. A considerable amount of workrelated skill, knowledge, or experience is required for this career.|
|Long working hours (More than 40 hours per week)|
There will be pros and cons for all jobs. The point is how much do the pros outweigh the cons to you.
A pro to you might be a con to Bob. A pro to Bob might be a con to you. We suggest reading about this career framework that can help you to find out what type of careers are right for you.
What is the job like
Is this job meaningful
More than 40 hours per week
Regular (Set schedule and routine)
On a normal working week Risk Management Specialists work More than 40 hours per week.
70% of Risk Management Specialists said they were satisfied with their job and 47% said they feel like their job is making other people’s lives better.
Is this right for me
Best personality for this career
The Organizers and The Persuaders
You can read more about these career personality types here.
People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas.
They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.
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They prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
They research market conditions in local, regional, or national areas, or gather information to determine potential sales of a product or service, or create a marketing campaign. May gather information on competitors, prices, sales, and methods of marketing and distribution.
They conduct quantitative analyses of information affecting investment programs of public or private institutions.
They plan, direct, or coordinate compensation and benefits activities of an organization.
They analyze product delivery or supply chain processes to identify or recommend changes. May manage route activity including invoicing, electronic bills, and shipment tracing.
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