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The differences between risk managers and project managers 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 $91,578 average annual salary of a project manager.
The top three skills for a risk manager include oversight, risk assessments and project management. The most important skills for a project manager are project management, project scope, and customer service.
| Risk Manager | Project Manager | |
| Yearly salary | $116,072 | $91,578 |
| Hourly rate | $55.80 | $44.03 |
| Growth rate | 17% | 8% |
| Number of jobs | 75,795 | 167,116 |
| Job satisfaction | - | 4.17 |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| Average age | 46 | 47 |
| 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.
Project managers oversee a specific project related to the organization's business. They manage the whole project from inception to evaluation. They initiate planning with involved departments, follow-through on the plans, ensure smooth execution of the plans, and evaluate the project for further improvements should these be needed. In line with this, project managers also ensure that the project is cost-efficient and well within the budget. They also manage the different work teams involved in the project and ensure that things are running smoothly on this aspect as well.
Risk managers and project managers have different pay scales, as shown below.
| Risk Manager | Project Manager | |
| Average salary | $116,072 | $91,578 |
| Salary range | Between $84,000 And $160,000 | Between $64,000 And $129,000 |
| Highest paying City | San Francisco, CA | San Francisco, CA |
| Highest paying state | California | California |
| Best paying company | Credit Karma | The Citadel |
| Best paying industry | Technology | Technology |
There are a few differences between a risk manager and a project manager in terms of educational background:
| Risk Manager | Project Manager | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 68% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between risk managers' and project managers' demographics:
| Risk Manager | Project Manager | |
| Average age | 46 | 47 |
| Gender ratio | Male, 59.3% Female, 40.7% | Male, 68.9% Female, 31.1% |
| 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, 7.7% Unknown, 4.7% Hispanic or Latino, 12.9% Asian, 9.0% White, 65.0% American Indian and Alaska Native, 0.7% |
| LGBT Percentage | 11% | 10% |