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Risk Assessment Analyst Careers

Risk analysts assess potential clients' financial statements and economic backgrounds to understand the extent of risk certain financial decisions would bring for the client. They are mostly employed by banks and financial institutions, such as insurance companies.

You will need a degree in a finance-related field to land this position, although experience in the field is not always required. You will be trained on the job and have ample opportunities to grow.

You will need to conduct extensive research to assist companies with their financial decisions, so computer literacy and familiarity with appropriate software are necessary. You might have to travel for work, so if you have the analytical and number-oriented mind this work requires, you will have a varied and interesting career.

There is more than meets the eye when it comes to being a risk assessment analyst. For example, did you know that they make an average of $34.42 an hour? That's $71,599 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 Assessment Analyst Do

There are certain skills that many risk assessment 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, math skills and detail oriented.

When it comes to the most important skills required to be a risk assessment analyst, we found that a lot of resumes listed 20.2% of risk assessment analysts included risk assessments, while 11.7% of resumes included information security, and 11.2% of resumes included communication. 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 assessment analyst job title. But what industry to start with? Most risk assessment analysts actually find jobs in the finance and technology industries.

How To Become a Risk Assessment Analyst

If you're interested in becoming a risk assessment analyst, one of the first things to consider is how much education you need. We've determined that 57.6% of risk assessment analysts have a bachelor's degree. In terms of higher education levels, we found that 17.4% of risk assessment analysts have master's degrees. Even though most risk assessment 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 assessment analyst. When we researched the most common majors for a risk assessment 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 assessment analyst resumes include associate degree degrees or license degrees.

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

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Average Salary
$71,599
Average Salary
Job Growth Rate
6%
Job Growth Rate
Job Openings
7,131
Job Openings

Risk Assessment Analyst Career Paths

Top Careers Before Risk Assessment Analyst

Top Careers After Risk Assessment Analyst

Analyst
9.1 %

Risk Assessment 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 Assessment Analyst

Risk Assessment Analysts in America make an average salary of $71,599 per year or $34 per hour. The top 10 percent makes over $114,000 per year, while the bottom 10 percent under $44,000 per year.
Average Salary
$71,599
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

City
ascdesc
Average Salarydesc
New York, NY
Salary Range61k - 107k$81k$80,986
Oakland, CA
Salary Range50k - 93k$69k$69,066
Richmond, VA
Salary Range49k - 82k$64k$63,733
Washington, DC
Salary Range48k - 82k$63k$63,328
West Allis, WI
Salary Range46k - 82k$62k$61,817
Austin, TX
Salary Range45k - 81k$61k$60,864
$39k
$107k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
{Title:Assessment Analyst, City:Santa Cruz}
{Title:Assessment Analyst, City:Santa Cruz}
University of California
University of California
06/29/2021
06/29/2021
$68,00006/29/2021
$68,000
Assessment & Evaluation Analyst
Assessment & Evaluation Analyst
Johns Hopkins University
Johns Hopkins University
04/28/2021
04/28/2021
$52,49504/28/2021
$52,495
Analyst-Vendor Risk Assessment
Analyst-Vendor Risk Assessment
Randstad
Randstad
03/22/2021
03/22/2021
$73,04503/22/2021
$73,045
Community Risk Assessment Analyst
Community Risk Assessment Analyst
Facebook Inc.
Facebook Inc.
01/11/2021
01/11/2021
$94,97601/11/2021
$94,976
Vendor Risk Assessment Analyst
Vendor Risk Assessment Analyst
Robert Half
Robert Half
11/12/2020
11/12/2020
$107,39711/12/2020
$107,397
See More Recent Salaries

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Risk Assessment Analyst Demographics

Gender

female

47.4 %

male

46.9 %

unknown

5.7 %

Ethnicity

White

74.7 %

Asian

8.7 %

Hispanic or Latino

7.8 %

Foreign Languages Spoken

Spanish

45.0 %

French

15.0 %

Chinese

5.0 %
See More Demographics

Risk Assessment Analyst Education

Majors

Business
24.6 %
Nursing
8.2 %

Degrees

Bachelors

57.6 %

Masters

17.4 %

Certificate

8.7 %

Top Colleges for Risk Assessment Analysts

1. University of Pennsylvania

Philadelphia, PA • Private

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

2. University of Southern California

Los Angeles, CA • Private

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

3. California State University - Bakersfield

Bakersfield, CA • Private

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

4. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

5. Villanova University

Villanova, PA • Private

In-State Tuition
$53,308
Enrollment
6,819

6. San Diego State University

San Diego, CA • Private

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

7. SUNY Farmingdale

Farmingdale, NY • Private

In-State Tuition
$8,306
Enrollment
9,394

8. SUNY Stony Brook

Stony Brook, NY • Private

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

9. New York University

New York, NY • Private

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

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 Assessment Analyst That You May Like

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

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

Learn Risk Analysis, Evaluation & Assessment - from A to Z
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Became an expert of the fundamental tecniques and tools in risk management and assessment (PHA, FTA, FMEA, HAZOP, HACCP)...

ISO 31000. Risk manager training
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4.5
(905)

The risk management framework of ISO 31000 and the risk techniques of IEC 31010...

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Internship
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Top Skills For a Risk Assessment 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, 20.2% of risk assessment analysts listed risk assessments on their resume, but soft skills such as computer skills and math skills are important as well.

Best States For a Risk Assessment Analyst

Some places are better than others when it comes to starting a career as a risk assessment analyst. The best states for people in this position are Alaska, New Jersey, New York, and Illinois. Risk assessment analysts make the most in Alaska with an average salary of $109,332. Whereas in New Jersey and New York, they would average $80,829 and $80,431, respectively. While risk assessment analysts would only make an average of $76,836 in Illinois, 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 Assessment Analyst Jobs:
730
Highest 10% Earn:
$136,000
Location Quotient:
1.76
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. Alaska

Total Risk Assessment Analyst Jobs:
24
Highest 10% Earn:
$195,000
Location Quotient:
0.89
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 Assessment Analyst Jobs:
236
Highest 10% Earn:
$136,000
Location Quotient:
0.92
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 Assessment Analyst Employers

1. Facebook
4.9
Avg. Salary: 
$103,872
Risk Assessment Analysts Hired: 
8+
2. JPMorgan Chase & Co.
4.9
Avg. Salary: 
$92,410
Risk Assessment Analysts Hired: 
7+
3. Visa
4.8
Avg. Salary: 
$78,291
Risk Assessment Analysts Hired: 
4+
4. SunTrust Banks
4.9
Avg. Salary: 
$86,568
Risk Assessment Analysts Hired: 
3+
5. Citigroup
4.8
Avg. Salary: 
$96,232
Risk Assessment Analysts Hired: 
3+
6. Quest Diagnostics
4.7
Avg. Salary: 
$70,961
Risk Assessment Analysts Hired: 
3+
Updated October 2, 2020