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The differences between risk management interns and risk 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 a risk manager. Additionally, a risk manager has an average salary of $116,072, 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 a risk manager are oversight, risk assessments, and project management.
| Risk Management Internship | Risk Manager | |
| Yearly salary | $46,800 | $116,072 |
| Hourly rate | $22.50 | $55.80 |
| Growth rate | 17% | 17% |
| Number of jobs | 120,198 | 75,795 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 66% |
| 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.
A risk manager is responsible for analyzing potential risks that may affect the organization's operations, reputation, and market credibility. Risk managers identify risk controls and discuss business contingency plans for unforeseen circumstances to prevent delays in operational services. They also develop compliance training and programs for all the employees to provide them the awareness of the safety and security regulations within the company premises. A risk manager must have excellent communication and leadership skills, especially on handling and investigating cases that might compromise the business stability and financial status.
Risk management interns and risk managers have different pay scales, as shown below.
| Risk Management Internship | Risk Manager | |
| Average salary | $46,800 | $116,072 |
| Salary range | Between $25,000 And $86,000 | Between $84,000 And $160,000 |
| Highest paying City | - | San Francisco, CA |
| Highest paying state | - | California |
| Best paying company | - | Credit Karma |
| Best paying industry | - | Technology |
There are a few differences between a risk management internship and a risk manager in terms of educational background:
| Risk Management Internship | Risk Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 66% |
| Most common major | Finance | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between risk management interns' and risk managers' demographics:
| Risk Management Internship | Risk Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 56.1% Female, 43.9% | Male, 59.3% Female, 40.7% |
| 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, 7.5% Unknown, 4.1% Hispanic or Latino, 14.4% Asian, 10.1% White, 63.5% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |