Find The Best Risk And Insurance Manager Jobs For You

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Average Salary
$74,304
Average Salary
Job Growth Rate
16%
Job Growth Rate
Job Openings
34,738
Job Openings

Risk And Insurance Manager Careers

One of the keys to business longevity is mitigating risks and finding ways to insure the business. Risk and insurance managers are responsible for these goals as their primary job functions are identifying potential risks, securing insurance purchases, and developing ways to mitigate risks in the future.

Specifically, the work responsibilities of a risk and insurance manager revolve around conducting risk analyses, dealing with insurance companies, developing safety and risk management protocols, and working with other departments to employ risk management strategies. Moreover, they may also be responsible for handling insurance budgets and recommending insurance decisions to the board.

This role typically requires a four-year degree in business, accounting, finance, or other related fields. Experience is also a common qualification for many employers, with the number of required work years ranging from three to five, at a minimum.

Due to the critical nature of this job, the average pay of risk and insurance managers is around $36 an hour, which is about $74,000 per year.

There is more than meets the eye when it comes to being a risk and insurance manager. For example, did you know that they make an average of $35.72 an hour? That's $74,304 a year!

Between 2018 and 2028, the career is expected to grow 16% and produce 104,700 job opportunities across the U.S.

What Does a Risk And Insurance Manager Do

There are certain skills that many risk and insurance managers 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 organizational skills, detail oriented and math skills.

When it comes to the most important skills required to be a risk and insurance manager, we found that a lot of resumes listed 21.3% of risk and insurance managers included insurance companies, while 14.4% of resumes included risk management, and 8.3% of resumes included life insurance. 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 and insurance manager job title. But what industry to start with? Most risk and insurance managers actually find jobs in the finance and health care industries.

How To Become a Risk And Insurance Manager

If you're interested in becoming a risk and insurance manager, one of the first things to consider is how much education you need. We've determined that 49.5% of risk and insurance managers have a bachelor's degree. In terms of higher education levels, we found that 8.9% of risk and insurance managers have master's degrees. Even though most risk and insurance managers 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 and insurance manager. When we researched the most common majors for a risk and insurance manager, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on risk and insurance manager resumes include master's degree degrees or high school diploma degrees.

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

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Average Salary
$74,304
Average Salary
Job Growth Rate
16%
Job Growth Rate
Job Openings
34,738
Job Openings

Risk And Insurance Manager Career Paths

Top Careers Before Risk And Insurance Manager

Top Careers After Risk And Insurance Manager

Risk And Insurance Manager 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 And Insurance Manager

Risk And Insurance Managers in America make an average salary of $74,304 per year or $36 per hour. The top 10 percent makes over $116,000 per year, while the bottom 10 percent under $47,000 per year.
Average Salary
$74,304
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Best Paying Cities

City
ascdesc
Average Salarydesc
New York, NY
Salary Range64k - 119k$88k$87,760
Bloomfield, NJ
Salary Range61k - 114k$84k$83,962
Pittsburgh, PA
Salary Range54k - 102k$75k$75,195
Houston, TX
Salary Range47k - 94k$67k$66,754
Delray Beach, FL
Salary Range42k - 81k$59k$58,619
$42k
$119k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
Risk & Insurance Manager
Risk & Insurance Manager
System One Services
System One Services
06/26/2021
06/26/2021
$135,00006/26/2021
$135,000
Insurance Verification Manager
Insurance Verification Manager
Robert Half
Robert Half
10/15/2020
10/15/2020
$50,00010/15/2020
$50,000
Risk and Insurance Manager
Risk and Insurance Manager
Murray Resources
Murray Resources
12/16/2019
12/16/2019
$40,00012/16/2019
$40,000
Risk Manager Belpointe Insurance Programs
Risk Manager Belpointe Insurance Programs
Belpointe Asset Management LLC
Belpointe Asset Management LLC
12/13/2019
12/13/2019
$90,00012/13/2019
$90,000
Risk and Insurance Manager
Risk and Insurance Manager
University of New Mexico
University of New Mexico
10/30/2019
10/30/2019
$71,08410/30/2019
$71,084
See More Recent Salaries

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Risk And Insurance Manager Demographics

Gender

female

62.0 %

male

32.2 %

unknown

5.8 %

Ethnicity

White

68.5 %

Hispanic or Latino

14.8 %

Black or African American

7.8 %

Foreign Languages Spoken

Spanish

55.2 %

Russian

10.3 %

Portuguese

6.9 %
See More Demographics

Risk And Insurance Manager Education

Majors

Business
33.9 %

Degrees

Bachelors

49.5 %

Associate

15.4 %

Certificate

15.1 %

Top Colleges for Risk And Insurance Managers

1. Stanford University

Stanford, CA • Private

In-State Tuition
$51,354
Enrollment
7,083

2. University of Pennsylvania

Philadelphia, PA • Private

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

3. Northwestern University

Evanston, IL • Private

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

4. California State University - Bakersfield

Bakersfield, CA • Private

In-State Tuition
$7,309
Enrollment
9,142

5. University of Southern California

Los Angeles, CA • Private

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

6. SUNY Stony Brook

Stony Brook, NY • Private

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

7. Boston University

Boston, MA • Private

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

8. New York University

New York, NY • Private

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

9. Maria College of Albany

Albany, NY • Private

In-State Tuition
$15,140
Enrollment
876

10. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451
See More Education Info

Online Courses For Risk And Insurance Manager That You May Like

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...

Informed Risk Taking: Risk Management Process - Analysis
udemy
4.3
(358)

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

Planning for Risk & Retirement
edX (Global)

Planning for Risk, Retirement and Investment is made possible by the Brian and Sheila Jellison Family Foundation. The Planning for Risk, Retirement & Investment course is designed for individuals to build financial literacy, one of the most pressing needs Americans face today. Financial decisions made by individuals impact the larger community in significant ways with pervasive cost due to financial mistakes. A recent study by the Financial Industry Regulatory Authority (FINRA) reveals over...

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Top Skills For a Risk And Insurance Manager

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, 21.3% of risk and insurance managers listed insurance companies on their resume, but soft skills such as organizational skills and detail oriented are important as well.

Best States For a Risk And Insurance Manager

Some places are better than others when it comes to starting a career as a risk and insurance manager. The best states for people in this position are New York, New Jersey, Virginia, and Pennsylvania. Risk and insurance managers make the most in New York with an average salary of $86,774. Whereas in New Jersey and Virginia, they would average $84,510 and $79,516, respectively. While risk and insurance managers would only make an average of $78,707 in Pennsylvania, 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 And Insurance Manager Jobs:
2,101
Highest 10% Earn:
$153,000
Location Quotient:
1.4
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. District of Columbia

Total Risk And Insurance Manager Jobs:
293
Highest 10% Earn:
$157,000
Location Quotient:
1.49
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. Delaware

Total Risk And Insurance Manager Jobs:
182
Highest 10% Earn:
$138,000
Location Quotient:
1.24
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
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Top Risk And Insurance Manager Employers

1. Allstate
4.7
Avg. Salary: 
$74,687
Risk And Insurance Managers Hired: 
4+
2. State Farm
4.6
Avg. Salary: 
$82,163
Risk And Insurance Managers Hired: 
4+
3. Howard Hanna Real Estate Services
4.0
Avg. Salary: 
$97,598
Risk And Insurance Managers Hired: 
4+
4. Wells Fargo
4.7
Avg. Salary: 
$94,492
Risk And Insurance Managers Hired: 
3+
5. American Income Life Insurance ...
4.6
Avg. Salary: 
$79,871
Risk And Insurance Managers Hired: 
3+
6. American International Group
4.7
Avg. Salary: 
$92,800
Risk And Insurance Managers Hired: 
3+
Updated October 2, 2020