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The differences between risk managers and branch 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 manager and a branch manager. Additionally, a risk manager has an average salary of $116,072, which is higher than the $56,291 average annual salary of a branch manager.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a branch manager are customer satisfaction, business development, and branch management.
| Risk Manager | Branch Manager | |
| Yearly salary | $116,072 | $56,291 |
| Hourly rate | $55.80 | $27.06 |
| Growth rate | 17% | 17% |
| Number of jobs | 75,795 | 333,883 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 65% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
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.
Branch managers oversee the company's field office. This position is usually present in industries such as banking and food service. Branch managers are responsible for all aspects of the branch operations, including, but not limited to, finances, marketing, quality control, and human resources. They ensure that the goals of the branch are met in the most efficient way possible. They balance the needs of both the organization and the employees in the department. Branch managers are also expected to have a hand in training the employees to be useful members of the organization.
Risk managers and branch managers have different pay scales, as shown below.
| Risk Manager | Branch Manager | |
| Average salary | $116,072 | $56,291 |
| Salary range | Between $84,000 And $160,000 | Between $39,000 And $80,000 |
| Highest paying City | San Francisco, CA | Oakland, CA |
| Highest paying state | California | Alaska |
| Best paying company | Credit Karma | FNB |
| Best paying industry | Technology | Professional |
There are a few differences between a risk manager and a branch manager in terms of educational background:
| Risk Manager | Branch Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between risk managers' and branch managers' demographics:
| Risk Manager | Branch Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 59.3% Female, 40.7% | Male, 59.8% Female, 40.2% |
| Race ratio | 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% | Black or African American, 8.0% Unknown, 4.1% Hispanic or Latino, 15.4% Asian, 7.8% White, 64.3% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |