hourly pay for Risk Management Specialists
do Risk Management Specialists make a lot of money

Risk Management Specialists

Other names for this job might include Chief Risk Officer, Credit Risk Management Director, Global Risk Management Director, Market Risk Analyst, Market Risk Specialist, Operational Risk Analyst, Risk Analyst, Risk and Insurance Consultant, Risk Management Director, Risk Management Specialist

  • $76230
  • 70%
    Job satisfaction
  • Quite Hard
    Becoming one
  • Low
    Job growth
OwlGuru Rank


How Much Do Risk Management Specialists Make In 2018

In this salary guide, you will find out how much do Risk Management Specialists make.

After reading this, you will be able to make a decision if working as a Risk Management Specialist will suit your financial goals (e.g: buying a home, BMW or just your target salary goal).

Average salary

Annual salary
$76230 per year
Hourly wage
$36.650 per hour

One of the most popular questions we get from our readers here at OwlGuru is how much do Risk Management Specialists make per year and what is their hourly wage.

According to BLS, the average annual salary of Risk Management Specialists is $76230. Their salary can also be as low as $39000 if you’re still a newbie with no experience to over $118780 if you have a ton of experience under your belt.

The typical hourly pay is $36.650 and can range from $18.750 to $57.100 which also depends if you’re a newbie or a professional.

Just like any other job, the salary of A Risk Management Specialist will vary based on your education and experience level.

# = Over $100 per hour or $200,000 per year.
Salary rank

We wanted to make it easy for our readers to compare the salary of A Risk Management Specialist to all the other careers out there. So we created Salary Rank.

This compares the salary of all careers and we give them a rank of A, B, C or D depending on how high or low is their average salary.

After comparing how much do Risk Management Specialists make with other careers, they have a salary rank of B.

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Salary range

Highest (Top 10%)$57.100$118780
Senior (Top 25%)$44.380$92310
Middle (Mid 50%)$33.400$69470
Junior (Bottom 25%)$24.980$51950
No experience (Bottom 10%)$18.750$39000

Entry-level Risk Management Specialists who starts out at $51950 can expect to make $69470 after 3-5 years of experience in the field.

The bottom 10% makes less than $18.750 per hour while the top 10% makes over $57.100 per hour.

While the median wage is $69470 per annum or $33.400 per hour.

Depending on who you work for, you might also get overtime pay.

# = Over $100 per hour or $200,000 per year.

Highest paying industries

Industry nameHourly wageAnnual salary
Metalworking Machinery Manufacturing56.94118430
Oil and Gas Extraction50.54105130
Semiconductor and Other Electronic Component Manufacturing49.14102210
Research and Development in the Physical, Engineering, and Life Sciences48.5100870
Testing Laboratories47.2498250
Scientific Research and Development Services46.8697480
Wired Telecommunications Carriers45.5294680
Radio and Television Broadcasting44.0691650
Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing43.5590580
Motor Vehicle Parts Manufacturing43.1589750
Other Information Services43.0689560
Plumbing, Heating, and Air-Conditioning Contractors42.7688940
Fabricated Metal Product Manufacturing42.7488900
Business Schools and Computer and Management Training (including private, state, and local government schools)42.3788140
Business schools and computer and management training - Privately owned42.3788140
Machinery Manufacturing41.8987140
Petroleum and Coal Products Manufacturing41.3485990
Architectural, Engineering, and Related Services41.2785840
Engineering Services41.1885640
Natural Gas Distribution41.0485350
Other Professional, Scientific, and Technical Services41.0185290
Broadcasting (except Internet)40.684450
Nondepository Credit Intermediation40.4384100
Computer and Electronic Product Manufacturing40.2283650
Computer Systems Design and Related Services40.2183650
Monetary Authorities-Central Bank40.1883580
Other Investment Pools and Funds40.1483490
Other Financial Investment Activities4083200
Securities and Commodity Contracts Intermediation and Brokerage39.9783130
Securities, Commodity Contracts, and Other Financial Investments and Related Activities39.9483080
Automobile Dealers39.8782930
Building Equipment Contractors39.7682700
Navigational, Measuring, Electromedical, and Control Instruments Manufacturing39.4882120
Wholesale Electronic Markets and Agents and Brokers39.3681870
Other Heavy and Civil Engineering Construction39.3381800
Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)39.2781690
Transportation Equipment Manufacturing39.2181560
Accounting, Tax Preparation, Bookkeeping, and Payroll Services39.1881490
Miscellaneous Manufacturing39.181320
Postal Service (federal government)38.7580600
Funds, Trusts, and Other Financial Vehicles38.7280540
Electric Power Generation, Transmission and Distribution38.7280530
Motor Vehicle and Parts Dealers38.6580400
Professional, Scientific, and Technical Services38.680280
Rail Transportation38.279460
Medical Equipment and Supplies Manufacturing37.978820
Federal government, including the US Postal Service37.7678540
Federal Executive Branch37.7478510
Data Processing, Hosting, and Related Services37.678210
Traveler Accommodation37.4177820
Specialty Trade Contractors37.2677500
Spectator Sports37.2377430
Management of Companies and Enterprises37.1677290
Wireless Telecommunications Carriers (except Satellite)36.9376820
Insurance and Employee Benefit Funds36.8976740
Retail Trade36.8676660
Activities Related to Real Estate36.6976320
Industrial Machinery Manufacturing36.6476200
Computer and Peripheral Equipment Manufacturing36.0775030
Electronic and Precision Equipment Repair and Maintenance36.0775030
Accommodation and Food Services36.0474970
Water Transportation36.0474960
Deep Sea, Coastal, and Great Lakes Water Transportation36.0474960
Couriers and Messengers35.874460
Couriers and Express Delivery Services35.874460
Advertising, Public Relations, and Related Services35.7874430
Insurance Agencies and Brokerages35.7674380
Performing Arts, Spectator Sports, and Related Industries35.6874220
Transportation and Warehousing35.6574160
Agencies, Brokerages, and Other Insurance Related Activities35.6274080
Other Insurance Related Activities35.4573750
Paper and Paper Product Merchant Wholesalers35.4573740
Pharmaceutical and Medicine Manufacturing35.3973600
Outpatient Care Centers35.2473290
Newspaper, Periodical, Book, and Directory Publishers35.2173230
Repair and Maintenance3572810
Direct Insurance (except Life, Health, and Medical) Carriers34.9272640
Federal, State, and Local Government34.8372450
Federal, State, and Local Government, excluding state and local schools and hospitals, and the US Postal Service34.8372450
Scheduled Air Transportation34.8272410
Air Transportation34.8172400
Nursing Care Facilities (Skilled Nursing Facilities)34.8172400
Professional and Commercial Equipment and Supplies Merchant Wholesalers34.5871930
Other Telecommunications34.5571860
Chemical Manufacturing34.5371810
Securities and Commodity Exchanges34.571770
Management, Scientific, and Technical Consulting Services34.4871720
Insurance Carriers and Related Activities34.4771690
Colleges, universities, and professional schools, Local government owned34.4671670
All industries, private ownership only34.4171570
Apparel, Piece Goods, and Notions Merchant Wholesalers34.3671480
Drugs and Druggists' Sundries Merchant Wholesalers34.3271390
Finance and Insurance34.3271390
All industries34.2471230
Wholesale Trade34.271140
Heavy and Civil Engineering Construction34.0870890
Household Appliances and Electrical and Electronic Goods Merchant Wholesalers34.0170740
Insurance Carriers33.970520
Federal, state, and local government, including government owned schools and hospitals, and the US Postal Service33.8370370
Grantmaking and Giving Services33.7570190
Merchant Wholesalers, Nondurable Goods33.770100
Activities Related to Credit Intermediation33.6870060
Publishing Industries (except Internet)33.5769820
Furniture and Home Furnishings Stores33.4169500
Furniture Stores33.4169500
Printing and Related Support Activities33.3869430
Nursing and Residential Care Facilities33.269060
Merchant Wholesalers, Durable Goods33.269050
Miscellaneous Nondurable Goods Merchant Wholesalers33.168860
Food Manufacturing33.0168660
Soap, Cleaning Compound, and Toilet Preparation Manufacturing32.868230
Business, Professional, Labor, Political, and Similar Organizations32.7768160
Automotive Equipment Rental and Leasing32.7368070
Research and Development in the Social Sciences and Humanities32.6667940
Software Publishers32.5667730
Labor Unions and Similar Labor Organizations32.4767540
Motor Vehicle and Motor Vehicle Parts and Supplies Merchant Wholesalers32.4767530
Rental and Leasing Services32.4667510
Residential Building Construction32.4267440
Plastics and Rubber Products Manufacturing32.3467270
Plastics Product Manufacturing32.3467270
Construction of Buildings32.2967150
Nonresidential Building Construction32.1766910
Religious, Grantmaking, Civic, Professional, and Similar Organizations32.1466860
Support Activities for Transportation31.9666480
Electronic Shopping and Mail-Order Houses31.9366420
Credit Intermediation and Related Activities31.9266380
Other Nondepository Credit Intermediation31.6365780
Electrical Equipment, Appliance, and Component Manufacturing31.5465610
Elementary and Secondary Schools, Local government owned31.465310
Elementary and Secondary Schools (including private, state, and local government schools)31.3265150
Nonstore Retailers31.3165120
Office Administrative Services31.1964880
Offices of Dentists31.1964880
Real Estate and Rental and Leasing31.1664820
Religious Organizations31.1164710
Business Support Services30.9864450
Travel Agencies30.8864240
Local Government, excluding schools and hospitals30.8364120
Amusement Parks and Arcades30.7964030
Arts, Entertainment, and Recreation30.7763990
Paper Manufacturing30.5963620
Amusement, Gambling, and Recreation Industries30.5763580
Casino Hotels30.4763370
Legal Services30.4363300
Elementary and Secondary Schools, Privately owned30.4163260
Hospitals, Local government owned30.4163250
General Medical and Surgical Hospitals, Local government owned30.4163250
Telephone Call Centers30.463230
Local government, including schools and hospitals30.3463100
Sector 56- Administrative and Support and Waste Management and Remediation Services30.2762960
Truck Transportation30.2262860
Miscellaneous Durable Goods Merchant Wholesalers30.2262850
Administrative and Support Services30.1862760
Grocery and Related Product Merchant Wholesalers30.1762750
Freight Transportation Arrangement30.0162420
Vocational Rehabilitation Services29.9562300
Furniture and Home Furnishing Merchant Wholesalers29.6461640
Medical and Diagnostic Laboratories29.6361630
Employment Services29.4961330
Social Advocacy Organizations29.4461240
Engine, Turbine, and Power Transmission Equipment Manufacturing29.2260790
Psychiatric and Substance Abuse Hospitals, State government owned29.1960720
Depository Credit Intermediation29.1360590
Colleges, universities, and professional schools, Privately owned29.1260570
Real Estate2960330
Home Health Care Services28.9160140
State Government, excluding schools and hospitals28.9160140
Educational Services, Local government owned28.8760050
Educational Services, Privately owned28.7159730
Ambulatory Health Care Services28.6559580
Highway, Street, and Bridge Construction28.5959480
Machinery, Equipment, and Supplies Merchant Wholesalers28.4859240
Psychiatric and Substance Abuse Hospitals (including private, state, and local government hospitals)28.4659190
Health Care and Social Assistance (including private, state, and local government hospitals)28.4359140
Educational Support Services (including private, state, and local government schools)28.3859040
Colleges, Universities, and Professional Schools (including private, state, and local government schools)28.2458750
State government, including schools and hospitals28.2558750
Educational Support Services, Privately owned28.2158670
General Freight Trucking28.1758590
Travel Arrangement and Reservation Services28.1458540
General Medical and Surgical Hospitals (including private, state, and local government hospitals)28.0158260
Hospitals (including private, state, and local government hospitals)27.9958230
Hospitals, State government owned27.9858200
Educational Services (including private, state, and local government schools)27.958040
General Medical and Surgical Hospitals, Privately owned27.8557920
Hospitals, Privately owned27.8157850
Social Assistance27.7857770
General Medical and Surgical Hospitals, State government owned27.5957400
Colleges, universities, and professional schools, State government owned27.557200
Offices of Real Estate Agents and Brokers27.4957170
Psychiatric and Substance Abuse Hospitals, Privately owned27.4457080
Individual and Family Services27.4157020
Educational Services, State government owned26.8455820
Other Schools and Instruction (including private, state, and local government schools)26.1154310
Other schools and instruction, Privately owned26.1154310
Specialty (except Psychiatric and Substance Abuse) Hospitals (including private, state, and local government hospitals)26.0254130
Other Support Services25.7753590
Specialty hospitals, Privately owned25.6853400
Offices of Physicians25.6653370
Junior colleges, Local government owned25.3552730
Civic and Social Organizations24.9651910
Technical and trade schools, Privately owned24.8751720
Technical and Trade Schools (including private, state, and local government schools)24.3550650
Junior colleges, Privately owned24.0149940
Other Services (except Federal, State, and Local Government)23.9749860
Junior Colleges (including private, state, and local government schools)23.949700
Services for the Elderly and Persons with Disabilities22.1746120
Lessors of Real Estate22.1346020
Junior colleges, State government owned21.8945530
Residential Intellectual and Developmental Disability, Mental Health, and Substance Abuse Facilities21.745140
Personal and Laundry Services21.244090
Other Personal Services21.1644010
Technical and trade schools, State government owned17.9537340

Not all industries pay the same for Risk Management Specialists.

One of the easiest way to increase your salary is to change industries and find a higher paying one.

Highest paying states


Another simple way to boost your pay as A Risk Management Specialist is to move to a higher paying state. However moving to a higher paying state like DC doesn’t mean you will make more overall. This is because the expenses at DC may be 2x higher than where you are currently living at right now.

According to the BLS, the highest paid / most successful Risk Management Specialists are in the states of DC, NY, VA, MA and PA. The average salary in DC is $97130.

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Salary: $64340

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