Risk Analyst Careers

Risk Analysts work in the financial sector and are responsible for creating the conditions for making informed business decisions. They analyze financial documents and economic conditions to be able to determine the level of risk involved in planned business activities.

Banks and insurance companies would not be able to function without the work of risk analysts. Other organizations handling large amounts of money are likely to hire them as well, such as investment firms or accounting companies. As a risk analyst, you will work regular hours in an office environment and earn handsomely.

You will need to have a degree in a finance or business-related field to be considered for this position. You will have to be intimately familiar with terms such as credit risk, equity delta risk, interest rate risk, and the like.

You will work together with treasury and finance staff and learn everything about the market that remains obscure not only to traders but, it seems safe to assume, to most of us.

There is more than meets the eye when it comes to being a risk analyst. For example, did you know that they make an average of $37.38 an hour? That's $77,749 a year!

Between 2018 and 2028, the career is expected to grow 6% and produce 20,300 job opportunities across the U.S.

What Does a Risk Analyst Do

There are certain skills that many risk analysts have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed computer skills, time-management skills and interpersonal skills.

When it comes to the most important skills required to be a risk analyst, we found that a lot of resumes listed 17.5% of risk analysts included risk management, while 12.1% of resumes included procedures, and 5.0% of resumes included data analysis. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the risk analyst job title. But what industry to start with? Most risk analysts actually find jobs in the finance and insurance industries.

How To Become a Risk Analyst

If you're interested in becoming a risk analyst, one of the first things to consider is how much education you need. We've determined that 70.7% of risk analysts have a bachelor's degree. In terms of higher education levels, we found that 16.4% of risk analysts have master's degrees. Even though most risk analysts have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become a risk analyst. When we researched the most common majors for a risk analyst, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on risk analyst resumes include associate degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become a risk analyst. In fact, many risk analyst jobs require experience in a role such as internship. Meanwhile, many risk analysts also have previous career experience in roles such as customer service representative or analyst.

What is the right job for my career path?

Tell us your goals and we'll match you with the right jobs to get there.

Average Salary
$77,749
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
43,383
Job Openings

Risk Analyst Career Paths

Top Careers Before Risk Analyst

Analyst
7.7 %

Top Careers After Risk Analyst

Risk Analyst Jobs You Might Like

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for a Risk Analyst

Risk Analysts in America make an average salary of $77,749 per year or $37 per hour. The top 10 percent makes over $107,000 per year, while the bottom 10 percent under $56,000 per year.
Average Salary
$77,749
Find Your Salary Estimate
How much should you be earning as an Architect? Use Zippia's Salary Calculator to get an estimation of how much you should be earning.

Best Paying Cities For Risk Analysts

City
ascdesc
Average Salarydesc
New York, NY
Salary Range69k - 117k$90k$90,320
San Francisco, CA
Salary Range66k - 116k$88k$88,201
Greenwich, CT
Salary Range63k - 109k$83k$83,349
Jersey City, NJ
Salary Range63k - 107k$82k$82,326
Arlington, VA
Salary Range58k - 95k$75k$75,079
Philadelphia, PA
Salary Range57k - 96k$75k$74,808
Baltimore, MD
Salary Range58k - 95k$75k$74,686
Wilmington, DE
Salary Range56k - 94k$73k$73,274
Seattle, WA
Salary Range56k - 92k$73k$72,717
Boston, MA
Salary Range55k - 95k$73k$72,667
Austin, TX
Salary Range54k - 95k$72k$72,239
Denver, CO
Salary Range54k - 90k$70k$70,238
Chicago, IL
Salary Range53k - 85k$67k$67,420
Cleveland, OH
Salary Range51k - 84k$66k$66,328
Minneapolis, MN
Salary Range49k - 81k$63k$63,476
Milwaukee, WI
Salary Range49k - 80k$63k$62,839
Las Vegas, NV
Salary Range47k - 81k$62k$61,863
Charlotte, NC
Salary Range47k - 79k$62k$61,850
Alpharetta, GA
Salary Range47k - 80k$62k$61,624
Cedar Rapids, IA
Salary Range48k - 77k$61k$61,138
$47k
$117k

Recently Added Salaries

CompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Third Party Cyber Risk Analyst
The Standard
08/06/2021
$60,80008/06/2021
Risk Analyst (Banking)
Robert Half
08/05/2021
$65,00008/05/2021
Commercial Flood Risk Analyst
Wells Fargo
08/05/2021
$52,60008/05/2021
Quantitative Risk Analyst-Fair
Equinix
08/05/2021
$82,00008/05/2021
Flex Security Risk Analyst
Allied Universal
08/05/2021
$41,74008/05/2021
See More Recent Salaries

Calculate your salary

Use Zippia's Salary Calculator to see how your pay matches up.

Risk Analyst Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming a Risk Analyst. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write a Risk Analyst Resume

At Zippia, we went through countless Risk Analyst resumes and compiled some information about how to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Risk Analyst Resume Examples And Templates

Risk Analyst Demographics

Gender

male

49.2 %

female

42.8 %

unknown

8.0 %

Ethnicity

White

70.4 %

Asian

12.9 %

Hispanic or Latino

8.1 %

Foreign Languages Spoken

Spanish

39.3 %

Mandarin

11.2 %

French

9.8 %
Show More Risk Analyst Demographics

Risk Analyst Education

Majors

Business
25.3 %
Finance
21.3 %

Degrees

Bachelors

70.7 %

Masters

16.4 %

Associate

7.5 %

Top Colleges for Risk Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

3. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

4. San Diego State University

San Diego, CA • Private

In-State Tuition
$7,488
Enrollment
30,018

5. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

6. SUNY Stony Brook

Stony Brook, NY • Private

In-State Tuition
$9,625
Enrollment
17,407

7. New York University

New York, NY • Private

In-State Tuition
$51,828
Enrollment
26,339

8. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

9. University of Illinois at Urbana-Champaign

Champaign, IL • Private

In-State Tuition
$15,094
Enrollment
32,974

10. University of Notre Dame

Notre Dame, IN • Private

In-State Tuition
$53,391
Enrollment
8,568
Show More Risk Analyst Education Requirements

Online Courses For Risk Analyst That You May Like

Informed Risk Taking: Risk Management Process - Analysis
udemy
4.4
(424)

Risk Management Strategies: Risk Analysis Techniques: Risk Management Principles: Risk Management Process: Methods...

Financial Risk Management with R
coursera

This course teaches you how to calculate the return of a portfolio of securities as well as quantify the market risk of that portfolio, an important skill for financial market analysts in banks, hedge funds, insurance companies, and other financial services and investment firms. Using the R programming language with Microsoft Open R and RStudio, you will use the two main tools for calculating the market risk of stock portfolios: Value-at-Risk (VaR) and Expected Shortfall (ES). You will need a be...

Risk Management: An Introduction
udemy
4.1
(647)

An essential guide to understanding Risk Management...

See more
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For a Risk Analyst

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 17.5% of risk analysts listed risk management on their resume, but soft skills such as computer skills and time-management skills are important as well.

  • Risk Management, 17.5%
  • Procedures, 12.1%
  • Data Analysis, 5.0%
  • Risk Assessments, 4.6%
  • Regulatory Agencies, 4.5%
  • Other Skills, 56.3%
  • See All Risk Analyst Skills

Best States For a Risk Analyst

Some places are better than others when it comes to starting a career as a risk analyst. The best states for people in this position are New York, Connecticut, New Jersey, and California. Risk analysts make the most in New York with an average salary of $89,761. Whereas in Connecticut and New Jersey, they would average $82,796 and $82,259, respectively. While risk analysts would only make an average of $81,188 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Risk Analyst Jobs:
2,745
Highest 10% Earn:
$148,000
Location Quotient:
1.66
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Connecticut

Total Risk Analyst Jobs:
447
Highest 10% Earn:
$137,000
Location Quotient:
1.04
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New Jersey

Total Risk Analyst Jobs:
1,068
Highest 10% Earn:
$134,000
Location Quotient:
1.04
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
Full List Of Best States For Risk Analysts

How Do Risk Analyst Rate Their Jobs?

Working as a Risk Analyst? Share your experience anonymously.
Rate
Do you work as a Risk Analyst?
Rate how you like work as Risk Analyst. It's anonymous and will only take a minute.
Rate

Top Risk Analyst Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ risk analysts and discovered their number of risk analyst opportunities and average salary. Through our research, we concluded that JPMorgan Chase was the best, especially with an average salary of $83,179. PayPal follows up with an average salary of $79,753, and then comes JPMorgan Chase & Co. with an average of $83,179. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as a risk analyst. The employers include Science Applications International .., Flagstar Bank, and USAA

1. JPMorgan Chase & Co.
4.9
Avg. Salary: 
$83,179
Risk Analysts Hired: 
299+
2. PayPal
4.9
Avg. Salary: 
$79,753
Risk Analysts Hired: 
251+
3. JPMorgan Chase & Co.
4.9
Avg. Salary: 
$83,179
Risk Analysts Hired: 
213+
4. American International Group
4.7
Avg. Salary: 
$83,290
Risk Analysts Hired: 
122+
5. Citigroup
4.8
Avg. Salary: 
$76,649
Risk Analysts Hired: 
121+
6. Bank of America
4.8
Avg. Salary: 
$85,370
Risk Analysts Hired: 
90+

Risk Analyst Videos

Updated August 18, 2021