Risk manager education requirements

Q: What degree do you need to be a risk manager?

To be a risk manager, you need a minimum of a bachelor's degree in risk management. Many organizations are now expecting a master's degree as well. The best master's degree for risk management is an MBA, although degrees in economics, accounting, or finance are also acceptable. These graduate degrees show that an individual has the analytical skills and understanding of software and financial analysis needed for the job.

Updated January 8, 2025

4 min read

There are several educational requirements to become a risk manager. Risk managers usually study business, finance, or nursing. 66% of risk managers hold a bachelor's degree, and 17% hold an master's degree. We analyzed 7,379 real risk manager resumes to see exactly what risk manager education sections show.

The most common colleges for risk managers are the University of Phoenix and the University of Phoenix.

There are also many online risk manager courses to help get the education required to be a risk manager.

There are certain risk manager certifications that you should consider. These risk manager certifications include Certified Risk Manager (CRM) and Associate in Risk Management (ARM).

What education do you need to become a risk manager?

What degree do you need to be a risk manager?

The most common degree for risk managers is bachelor's degree, with 66% of risk managers earning that degree. The second and third most common degree levels are master's degree degree at 17% and master's degree degree at 10%.

Bachelor's, 66%

Master's, 17%

Associate, 10%

Doctorate, 3%

Other Degrees, 4%

What should I major in to become a risk manager?

You should major in business to become a risk manager. 26% of risk managers major in business. Other common majors for a risk manager include finance and nursing.

Business, 26%

Finance, 13%

Nursing, 11%

Accounting, 8%

Other Majors, 42%

Most common colleges for risk managers

Risk managers often get their degrees at University of Phoenix, New York University, and University of Maryland - College Park. Here are the most common colleges for risk managers in the US based on their resumes.

Risk manager common college	Percentages
University of Phoenix	15.76%
New York University	7.18%
University of Maryland - College Park	6.24%
Pennsylvania State University	5.62%
University of Florida	5.62%

Show more common risk manager colleges

Best majors for risk managers

Rank	Major	Percentages
1	Business	25.6%
2	Finance	13.4%
3	Nursing	10.9%
4	Accounting	8.1%
5	Economics	5.7%

Show more common risk manager majors

Best colleges for risk managers

The best colleges for risk managers are University of Pennsylvania, Northwestern University, and University of Southern California.

A risk manager with advanced education typically earns a higher salary and has access to better jobs. That's why Zippia looked into the best colleges for risk managers. We based this list on several metrics: admissions rate, retention rate, mean earnings of graduates, the ratio of working vs. non-working students ten years after admission, the average cost of attendance, and median debt for graduates who become risk managers.

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. SUNY at Binghamton

Vestal, NY • Private

In-state tuition

$9,808

Enrollment

13,990

4. Villanova University

Villanova, PA • Private

In-state tuition

$53,308

Enrollment

6,819

5. San Diego State University

San Diego, CA • Private

In-state tuition

$7,488

Enrollment

30,018

6. SUNY Stony Brook

Stony Brook, NY • Private

In-state tuition

$9,625

Enrollment

17,407

7. New York University

New York, NY • Private

In-state tuition

$51,828

Enrollment

26,339

8. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-state tuition

$14,760

Enrollment

31,451

9. Howard University

Washington, DC • Private

In-state tuition

$26,756

Enrollment

6,166

10. SUNY at Buffalo

Buffalo, NY • Private

In-state tuition

$10,099

Enrollment

21,404

20 best online courses for risk managers

Advertising disclosure

1. Introduction to Compliance Risk Management CRM

4.1

(300)

Compliance risk management CRM for Compliance, Risk Management, Internal Audit and IS Security Professionals...

2. ISO 31000. Risk manager training

4.5

(2,351)

Understand the framework for managing risk proposed by ISO 31000 and the risk techniques of IEC 31010...

3. Operational Risks Management ORM

4.3

(1,174)

Operational Risks Management ORM Case Studies for Risk Management, Compliance, Audit, IS Security, Banking Professionals...

4. Informed Risk Taking: Risk Management Process - Analysis

4.5

(1,247)

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

5. The Agile Methodology for Project Risk Managers

(348)

The Agile Project Management and Risk Management for Project Professionals Full Course...

6. Project Management Fundamentals: Risk Management

4.4

(504)

Without risk, there can be no reward. Learn how to your risks it into your allies...

7. OSHA Safety Training: Heat Stress Management

4.6

(465)

A Workplace Safety Management Course for Current and Future Safety Professionals...

8. Certified Risk Management FMEA ISO 31000 Expert Accredited

4.6

(734)

Certified Risk Management Expert ISO 31000: 2018 FMEA Enterprise Risk Management Risk Assessment Risk Analysis...

9. Project Risk Management

4.3

(1,800)

Practice of identifying , analyzing, prioritizing and mitigating risks...

10. Risk Management: Hazard Identification & Risk Assessment

4.3

(741)

Risk Management: Hazard Identification & Risk Assessment (HIRA), Hazard Control & Mitigation, Risk Evaluation Techniques...

11. The Risk Management Certification Program (PMI-RMP) (PMBOK7)

4.3

(829)

Planning Risk Management, Identifying Risk, Analyzing Risk and Responding to Risk by PMBOK6 (PMBOK7 Updated)...

12. Financial Risk Management (FRM): Foundational FRM Principles

4.5

(960)

Minimize Financial Risks While Maximizing Financial Reward. + Financial Risk Management (FRM) Process Implementation...

13. ISO 45001. Occupational health & safety management system

4.6

(4,258)

Upgrate your health and safety career by understanding the requriements for an OH & S management system from ISO 45001...

14. Risk Management: An Introduction

(697)

An essential guide to understanding Risk Management...

15. ISO/IEC 27005:2022. Information security risk management

4.6

(878)

Understand the framework proposed by ISO for managing information security risks in an organization...

16. Risk Management for PMI Certification

4.5

(642)

Get Ready for PMI Risk Management Professional Certification Exam...

17. Manage Project Risks Impeccably (12 PDUs, RMP - PMP) PMBOK 7

4.4

(1,034)

PMI Project Risk Management RMP Certification Program Course. Practical & easy to follow Use Case Project. PMBOK 7...

18. Enterprise Risk Management and ISO 31000

4.1

(590)

Learn how to make better decisions in the increasingly uncertain business environment...

19. ISO 22000:2018. Food Safety Management System

4.4

(976)

Understand the requirements for a food safety management system applicable for any organization in the food chain...

20. Enterprise Risk Management

4.5

(3,561)

Develop the Risk Based Thinking for your Business Processes Apply ERM in 5 Simple Steps to any Business...

Top 10 most affordable universities for risk managers

The most affordable schools for risk managers are SUNY Farmingdale, baruch college of the city university of new york, and university of florida.

If the best universities for risk managers are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for risk managers.

1. SUNY Farmingdale

Farmingdale, NY • Private

In-state tuition

$8,306

Cost of attendance

16,091

2. Baruch College of the City University of New York

New York, NY • Private

In-state tuition

$7,262

Cost of attendance

14,046

3. University of Florida

Gainesville, FL • Private

In-state tuition

$6,381

Cost of attendance

21,034

4. California State University - Bakersfield

Bakersfield, CA • Private

In-state tuition

$7,309

Cost of attendance

16,714

5. California State University - Dominguez Hills

Carson, CA • Private

In-state tuition

$6,942

Cost of attendance

14,469

6. Brigham Young University

Provo, UT • Private

In-state tuition

$5,620

Cost of attendance

18,136

7. California State University - Long Beach

Long Beach, CA • Private

In-state tuition

$6,798

Cost of attendance

18,306

8. University of Puerto Rico - Mayaguez

Mayaguez, PR • Private

In-state tuition

$4,094

Cost of attendance

14,302

9. Florida International University

Miami, FL • Private

In-state tuition

$6,556

Cost of attendance

19,434

10. Florida State University

Tallahassee, FL • Private

In-state tuition

$5,656

Cost of attendance

21,623

Top 10 hardest universities to get into for risk managers

The hardest universities for risk managers to get into are University of Pennsylvania, Northwestern University, and University of Southern California.

Some great schools for risk managers are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for risk managers based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.

1. University of Pennsylvania

Philadelphia, PA • Private

Admissions rate

SAT average

1,492

2. Northwestern University

Evanston, IL • Private

Admissions rate

SAT average

1,508

3. University of Southern California

Los Angeles, CA • Private

Admissions rate

13%

SAT average

1,445

4. New York University

New York, NY • Private

Admissions rate

20%

SAT average

1,419

5. Villanova University

Villanova, PA • Private

Admissions rate

29%

SAT average

1,407

6. Vanderbilt University

Nashville, TN • Private

Admissions rate

10%

SAT average

1,514

7. Johns Hopkins University

Baltimore, MD • Private

Admissions rate

11%

SAT average

1,513

8. George Washington University, The

Washington, DC • Private

Admissions rate

42%

SAT average

1,380

9. University of Rochester

Rochester, NY • Private

Admissions rate

29%

SAT average

1,422

10. Boston College

Chestnut Hill, MA • Private

Admissions rate

28%

SAT average

1,429

Top 10 easy-to-apply-to universities for risk managers

The easiest schools for risk managers to get into are Oklahoma Wesleyan University, barry university, and holy names university.

Some schools are much easier to get into. If you want to start your career as a risk manager without much hassle, check out the list of schools where you will be accepted in no time. We compiled admissions rates, average SAT scores, average ACT scores, and average salary of students six years after graduation to uncover which were the easiest schools to get into for risk managers.

1. Oklahoma Wesleyan University

Bartlesville, OK • Private

Admissions rate

68%

SAT average

964

2. Barry University

Miami, FL • Private

Admissions rate

91%

SAT average

1,006

3. Holy Names University

Oakland, CA • Private

Admissions rate

70%

SAT average

849

4. Notre Dame College

Cleveland, OH • Private

Admissions rate

90%

SAT average

994

5. La Roche College

Pittsburgh, PA • Private

Admissions rate

99%

SAT average

1,008

6. Ottawa University

Ottawa, KS • Private

Admissions rate

78%

SAT average

1,024

7. Saint Joseph's College of Maine

Standish, ME • Private

Admissions rate

84%

SAT average

1,069

8. Holy Family University

Philadelphia, PA • Private

Admissions rate

72%

SAT average

1,017

9. Kean University

Union, NJ • Private

Admissions rate

86%

SAT average

991

10. University of the Incarnate Word

San Antonio, TX • Private

Admissions rate

88%

SAT average

1,044

Average risk manager salary by education level

According to our data, risk managers with a Doctorate degree earn the highest average salary, at $147,958 annually. Risk managers with a Master's degree earn an average annual salary of $141,768.

Risk manager education level	Risk manager salary
Master's Degree	$141,768
High School Diploma or Less	$104,867
Bachelor's Degree	$126,166
Doctorate Degree	$147,958
Some College/ Associate Degree	$104,855

Risk manager education FAQs

What degree do you need to be a risk manager?

What is the best college for Risk Managers?

Have more questions? See all answers to common executive management questions.

Search for risk manager jobs

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

Browse executive management jobs