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The differences between risk management interns and audit managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both a risk management internship and an audit manager. Additionally, an audit manager has an average salary of $121,419, which is higher than the $46,800 average annual salary of a risk management internship.
The top three skills for a risk management internship include risk management, powerpoint and python. The most important skills for an audit manager are CPA, internal audit, and audit reports.
| Risk Management Internship | Audit Manager | |
| Yearly salary | $46,800 | $121,419 |
| Hourly rate | $22.50 | $58.37 |
| Growth rate | 17% | 17% |
| Number of jobs | 120,198 | 70,168 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 75% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
A risk management intern is responsible for assisting the risk management department in identifying potential risks on business functions and developing risk controls and procedures upon risk assessment. Risk management interns perform administrative duties under the supervision of tenured staff or a direct manager, such as writing risk evaluation reports, monitoring system failures, determining the risk levels, and supporting the implementation of business continuity plans. A risk management intern must have excellent communication and analytical skills, especially when conducting data analysis and reporting critical findings to the supervisor.
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
Risk management interns and audit managers have different pay scales, as shown below.
| Risk Management Internship | Audit Manager | |
| Average salary | $46,800 | $121,419 |
| Salary range | Between $25,000 And $86,000 | Between $82,000 And $178,000 |
| Highest paying City | - | Portland, ME |
| Highest paying state | - | Maine |
| Best paying company | - | Meta |
| Best paying industry | - | Manufacturing |
There are a few differences between a risk management internship and an audit manager in terms of educational background:
| Risk Management Internship | Audit Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 75% |
| Most common major | Finance | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between risk management interns' and audit managers' demographics:
| Risk Management Internship | Audit Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 56.1% Female, 43.9% | Male, 66.0% Female, 34.0% |
| Race ratio | Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 11.4% White, 64.3% American Indian and Alaska Native, 0.3% | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |