Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between risk managers and internal auditors can be seen in a few details. Each job has different responsibilities and duties. Additionally, a risk manager has an average salary of $116,072, which is higher than the $63,013 average annual salary of an internal auditor.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for an internal auditor are CPA, risk management, and SOX.
| Risk Manager | Internal Auditor | |
| Yearly salary | $116,072 | $63,013 |
| Hourly rate | $55.80 | $30.29 |
| Growth rate | 17% | 6% |
| Number of jobs | 75,795 | 25,571 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Average age | 46 | 44 |
| Years of experience | 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.
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 managers and internal auditors have different pay scales, as shown below.
| Risk Manager | Internal Auditor | |
| Average salary | $116,072 | $63,013 |
| Salary range | Between $84,000 And $160,000 | Between $45,000 And $86,000 |
| Highest paying City | San Francisco, CA | Washington, DC |
| Highest paying state | California | New York |
| Best paying company | Credit Karma | Meta |
| Best paying industry | Technology | Manufacturing |
There are a few differences between a risk manager and an internal auditor in terms of educational background:
| Risk Manager | Internal Auditor | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 75% |
| Most common major | Business | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between risk managers' and internal auditors' demographics:
| Risk Manager | Internal Auditor | |
| Average age | 46 | 44 |
| Gender ratio | Male, 59.3% Female, 40.7% | Male, 54.6% Female, 45.4% |
| 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, 8.6% 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% |