Updated August 18, 2021
Average Risk Manager Salary
$121,000 yearly
$58.33 hourly

Entry level Salary
$86,000 yearly
$86,000
10 %
$121,000
Median
$171,000
90 %
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PercentileAnnual SalaryMonthly SalaryHourly Rate
90th Percentile$171,000$14,250$82
75th Percentile$145,000$12,083$70
Average$121,316$10,110$58
25th Percentile$101,000$8,417$49
10th Percentile$86,000$7,167$41

Average Risk Manager Salary By State

The darker areas on the map show where risk managers earn the highest salaries across all 50 states.

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Average Salary:

Risk Manager average salary by State

StateAvg. salaryHourly rateJob Count
Alabama$77,735$37.37275
Alaska$42,691$20.5269
Arizona$83,126$39.96716
Arkansas$75,026$36.07256
California$113,386$54.514,234
Colorado$97,494$46.87638
Connecticut$117,421$56.45423
Delaware$117,899$56.68146
District of Columbia$113,334$54.49331
Florida$76,395$36.731,596
Georgia$87,817$42.221,131
Hawaii$118,213$56.8389
Idaho$55,165$26.5282
Illinois$102,815$49.431,658
Indiana$85,553$41.13536
Iowa$69,947$33.63279
Kansas$101,055$48.58207
Kentucky$67,614$32.51276
Louisiana$90,261$43.39214
Maine$71,091$34.1883
Maryland$111,016$53.37714
Massachusetts$105,326$50.641,085
Michigan$92,237$44.34686
Minnesota$87,188$41.92595
Mississippi$62,376$29.9997
Missouri$84,078$40.42638
Montana$87,675$42.1590
Nebraska$75,268$36.19152
Nevada$96,271$46.28216
New Hampshire$88,565$42.58107
New Jersey$122,929$59.10988
New Mexico$81,510$39.19101
New York$132,778$63.842,411
North Carolina$93,387$44.901,009
North Dakota$71,508$34.3841
Ohio$101,112$48.61997
Oklahoma$69,341$33.34191
Oregon$87,837$42.23440
Pennsylvania$103,203$49.621,273
Rhode Island$93,987$45.19114
South Carolina$71,875$34.56346
South Dakota$90,687$43.6045
Tennessee$67,365$32.39464
Texas$98,148$47.192,446
Utah$73,537$35.35336
Vermont$68,829$33.0947
Virginia$114,050$54.831,122
Washington$96,309$46.301,051
West Virginia$73,655$35.4195
Wisconsin$84,100$40.43395
Wyoming$78,371$37.6819

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Highest Paying Cities For Risk Manager

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CityAvg. salaryHourly rate
New York, NY$136,227$65.49
San Francisco, CA$125,096$60.14
McLean, VA$120,380$57.88
Wilmington, DE$119,400$57.40
Greenwich, CT$119,257$57.34
Washington, DC$114,133$54.87

The largest raises come from changing jobs.

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How much does a Risk Manager make?

  • The average Risk Manager makes $121,316 in the United States.
  • The average hourly pay for a Risk Manager is $58.33.
  • The average entry-level Risk Manager salary is $86,000.
  • Highest paying states for Risk Manager are New York ($132,778), New Jersey ($122,929), Hawaii ($132,778) and Delaware ($132,778).
  • Highest paying cities for Risk Manager are New York, NY ($136,227), San Francisco, CA, McLean, VA, Wilmington, DE and Greenwich, CT.
  • Risk Managers on the lower end of that spectrum, the bottom 10% to be exact, make roughly $86,000 a year, while the top 10% makes $171,000.
  • The best-paid 25% made $145,000 that year, while the lowest-paid 25$ made $101,000
  • Industries with the highest Risk Manager salaries are Health Care, Manufacturing and Hospitality.

Average Risk Manager Salary Over Time

Compare salaries for individual cities or states with the national average.

Location
    YearAvg. salaryHourly rate% Change
    2022$121,000$58.33+2.3%
    2021$119,000$57.00+2.7%
    2020$115,000$55.48+3.1%
    2019$112,000$53.77+2.3%
    2018$109,000$52.55+2.3%

    How Much Do Risk Managers Make In Different Industries?

    As we previously stated, Risk Manager salaries can vary depending on the industry. In fact, our data shows that Health Care, Manufacturing, and Hospitality companies tend to offer much higher salaries for Risk Managers. For example, Risk Managers make a whopping average salary of $129,951 while working for Health Care companies. Meanwhile, other people in this field are making $125,815 at Manufacturing companies and $117,748 at Hospitality companies. But Risk Managers may want to avoid working in the Agriculture industry as it offers the lowest average salary at $85,816.
    RankIndustryAverage Risk Manager SalaryRisk Manager Salary Range
    1Health Care
    $129,951
    $68k
    $157k
    2Manufacturing
    $125,815
    $68k
    $157k
    3Hospitality
    $117,748
    $68k
    $157k
    4Finance
    $114,959
    $68k
    $157k
    5Professional
    $98,087
    $68k
    $157k
    6Agriculture
    $85,816
    $68k
    $157k

    High Paying Risk Manager Jobs

    Average JOB Salary by Field

    Credit And Collection Manager

    Avg. salary: $77,783

    A credit and collection manager is responsible for evaluating credit services and supervising the credit and collection team in reaching out to clients with outstanding debts and credit applications. Credit and collection managers oversee the cash flow systems and identify opportunities to minimize excessive loss and resolve credit disputes. They also determine a customer's eligibility for credit options by analyzing documents and financial status. A credit collection manager must have excellent communication and analytical skills to process receivables and perform credit reconciliations accurately and efficiently.
    25,148 Credit And Collection Manager Jobs
    Administrative & Finance Manager

    Avg. salary: $74,788

    An administrative and finance manager handles a company's expenditures, requests, invoices, and other financial documentation. Their primary duty is to oversee a finance team's daily work. Additionally, they must coordinate financial staff, ensure that orders from management are carried out, complete the company's financial statements, and provide tax data for the legal department.
    143,293 Administrative & Finance Manager Jobs
    Management Accounts Manager

    Avg. salary: $58,458

    A management accounts manager is responsible for maintaining healthy business relationships with clients by handling their project accounts, improving account management procedures, and identifying business opportunities that would generate more revenue resources for the company. Management accounts managers compile portfolio reports, including how the client's account performs in the market and its financial stability. They also negotiate contracts, settle terms and agreements, and ensure the highest customer experience by implementing strategic plans to enhance the company's services.
    103,001 Management Accounts Manager Jobs
    Finance And Insurance Manager

    Avg. salary: $93,556

    A finance and insurance manager is a professional who is responsible for selling new and used car buyers with financing and insurance programs. Finance and insurance managers are required to provide a thorough explanation of aftermarket products and extended warranties to customers as well as a complete explanation of manufacturer and dealership service procedures and policies. They must seek new lending institutions and maintain a good relationship with them to secure competitive interest rates and financing programs. Finance and insurance managers should also train the sales team and provide information on finance and lease programs.
    97,420 Finance And Insurance Manager Jobs
    Finance Center Manager

    Avg. salary: $82,956

    The duties of a finance center manager depend on one's place or industry of employment. Typically, they are responsible for overseeing the operations of a financial center, ensuring everything is running smoothly. They are also responsible for performing clerical tasks such as producing progress reports and presentations, managing schedules, setting goals and deadlines, processing documents, and maintaining data and records of all financial activities. Furthermore, as a manager, it is essential to lead and encourage the team, all while implementing the company's policies and regulations.
    128,754 Finance Center Manager Jobs
    Banking Center Manager

    Avg. salary: $45,078

    A banking center manager is responsible for monitoring bank operations, auditing financial transactions, and ensuring that the banking staff provides the highest customer service for their clients. Banking center managers assist the team members in responding to the customers' inquiries and concerns regarding the financial options they offer, opening accounts, selling financial instruments, and resolving transactional complaints. A banking center manager must have excellent communication and analytical skills, especially in developing banking solutions that would increase the bank's reliability to the customers.
    68,759 Banking Center Manager Jobs
    Job TitleAnnual SalaryMonthly SalaryHourly RateJob Openings
    Credit And Collection Manager$77,783$6,482$37.4025,148
    Administrative & Finance Manager$74,789$6,232$35.96143,293
    Management Accounts Manager$58,459$4,872$28.11103,001
    Finance And Insurance Manager$93,556$7,796$44.9897,420
    Finance Center Manager$82,957$6,913$39.88128,754
    Banking Center Manager$45,078$3,757$21.6768,759
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    Which Companies Pay Risk Managers The Most?

    To earn a high income as a Risk Manager, working for Steward Health Care System or Accenture might be your best bet, as they are the highest paying companies in this field. In addition, companies like McKinsey & Company and Calpine report highly competitive wages for Risk Managers.
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    Tell us about yourself to get a free, personalized Zippia Salary Report and suggestions on how to increase your pay.

    Recently Added Risk Manager Salaries

    Location
    CompanyJobLocationDate AddedSalary
    USAACompliance Risk Manager SeniorFort Mill, SC12/31/2021$80,200
    USAACompliance Risk Manager Senior-Aml GovernancePhoenix, AZ12/29/2021$80,200
    General DynamicsSenior Risk Manager RemoteAuburn, MA12/29/2021$115,329
    Us BankCDO-Digital Risk ManagerBoone, CO12/29/2021$120,870
    Texas Health ResourcesRisk Manager-PRNArlington, TX12/29/2021$84,252
    Smith Hanley AssociatesManager, Credit Risk AnalyticsChicago, IL12/28/2021$135,000
    Smith Hanley AssociatesCredit Risk ManagerNew York, NY12/28/2021$155,000
    U.S. BankCDO-Digital Risk ManagerMinneapolis, MN12/28/2021$117,385
    Janus Henderson InvestorsSenior Risk ManagerDenver, CO12/25/2021$110,000
    Aegon NvSenior Third Party Risk ManagerDenver, CO12/25/2021$75,000

    Average Risk Manager Salary by Demographic

    Risk Manager Gender Pay Gap

    male-income
    Male Income
    $131,756
    female-income
    Female Income
    $121,667
    GenderIncome
    Male$131,756
    Female$121,667
    Median Risk Manager Income by Race
    Asian Risk Managers have the highest average salary compared to other ethnicities. Black or African American Risk Managers have the lowest average salary at $119,276.
    $135,000
    $108,000
    $81,000
    $54,000
    $27,000
    $0
    White
    Black or African American
    Asian
    Hispanic or Latino
    EthnicitySalary
    White$127,765
    Black or African American$119,276
    Asian$132,443
    Hispanic or Latino$127,314
    Average Risk Manager Salary by Education Level
    Risk Managers with a Masters degree earn more than those without, at $138,901 annually. With a Bachelors degree, Risk Managers earn a median annual income of $121,667 compared to $101,710 for Risk Managers with an Associate degree.
    $140,000
    $112,000
    $84,000
    $56,000
    $28,000
    $0
    High School Diploma or Less
    Some College/ Associate Degree
    Bachelor's Degree
    Master's Degree
    EducationSalary
    High School Diploma or Less$100,433
    Some College/ Associate Degree$101,710
    Bachelor's Degree$121,667
    Master's Degree$138,901

    Risk Manager Salaries FAQs

    Do risk managers make good money?

    Yes, risk managers make good money. On average, they make $121,000 yearly (about $10,110 monthly or $58 hourly).

    As most jobs go, factors like location, industry, and experience can determine your exact pay. On the lower end of the salary range, they can make about $86,000, typically for entry-level positions. On the higher end, they can earn more than $171,000.

    Some of the top-paying states are New York (average salary: $132,778), New Jersey ($122,929), and Hawaii ($118,213). Some of the top-paying industries have to do with health care (average salary: $129,951), manufacturing ($125,815), and hospitality ($117,748).

    As with many jobs, the higher your education, the higher your salary. Those with a master's degree can earn around $134,650 compared to those with a bachelor's degree at $119,661 or those with an associate's degree at $102,100.

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    How much does a risk control director make?

    A risk control director makes about $130,000 yearly. That's about $10,845 monthly or $63 hourly.

    As most jobs go, factors like location, industry, and experience can determine your exact pay. On the lower end of the salary range, they can make about $87,000, typically for entry-level positions or low-paying states like Florida and Wisconsin. On the higher end, they can earn more than $194,000.

    Some of the top-paying states are Connecticut (average salary: $133,695), Maryland ($133,185), and Minnesota ($129,927). Some of the top-paying industries have to do with hospitality, insurance, and government.

    As with many jobs, the higher your education, the higher your salary. Those with a master's degree can earn around $160,424 compared to those with a bachelor's degree at $138,966 or an associate's degree at $127,484.

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