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The differences between risk management interns and internal auditors can be seen in a few details. Each job has different responsibilities and duties. Additionally, an internal auditor has an average salary of $63,013, 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 internal auditor are CPA, risk management, and SOX.
| Risk Management Internship | Internal Auditor | |
| Yearly salary | $46,800 | $63,013 |
| Hourly rate | $22.50 | $30.29 |
| Growth rate | 17% | 6% |
| Number of jobs | 120,198 | 25,571 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 75% |
| Average age | 46 | 44 |
| Years of experience | 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 internal auditor is an individual who takes responsibility for crucial accounting functions in an organization. Internal auditors have trusted consultants who advise upper management on how to handle corporate goals and risks. They review the business operations and processes of organizations. They have to assess the efficacy of the company's risk management procedures. They are expected to have superb communication skills, IT knowledge, and math aptitude. Also, they help protect the organization from potential theft and fraud of its assets.
Risk management interns and internal auditors have different pay scales, as shown below.
| Risk Management Internship | Internal Auditor | |
| Average salary | $46,800 | $63,013 |
| Salary range | Between $25,000 And $86,000 | Between $45,000 And $86,000 |
| Highest paying City | - | Washington, DC |
| Highest paying state | - | New York |
| Best paying company | - | Meta |
| Best paying industry | - | Manufacturing |
There are a few differences between a risk management internship and an internal auditor in terms of educational background:
| Risk Management Internship | Internal Auditor | |
| 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 internal auditors' demographics:
| Risk Management Internship | Internal Auditor | |
| Average age | 46 | 44 |
| Gender ratio | Male, 56.1% Female, 43.9% | Male, 54.6% Female, 45.4% |
| 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, 8.6% Unknown, 4.0% Hispanic or Latino, 11.0% Asian, 12.9% White, 63.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 11% | 7% |