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Risk Analyst

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The following article discusses the career of Risk Analyst highlighting what they do, the work environment, how to become, training and certification, education, job and salary outlook.

What We Do

As a risk analyst you will establish measures for quality control by auditing data. You will also create summaries and reports and document procedures and processes. Furthermore, you will calculate outcomes and risks using available data. Finally, you will aggregate data from various sources and transform it into results that people can understand.

Work Environment

Most risk analysts work in a regular office environment during business hours. Some overtime may be required if emergencies occur.

How to Become

Becoming a risk analyst means being an excellent analytical thinker with a passion for math. You must be a real problem solver and work under minimum supervision. Furthermore, you must be detail orientated and understand every element of the money market. You must also be an excellent communicator and be proficient with computer software.

Training & Certification Requirements

To become a risk analyst, you will need a bachelor’s degree in a field such as statistics, accounting, economics, business or finance. More and more frequently, you will be required to hold a master’s degree that includes risk management in the curriculum. Being PRM and/or CFA designated and certified is also beneficial. You may also have to be licensed through the FIRA if you want to work in the securities industry, but this would be arranged by your employer.

Education Requirements

Bachelor’s

Job Outlook

According to the U.S. Bureau of Labor Statistics, information security analysts can expect an 18% growth between 2014 and 2024, which is much faster than average.

National Salary

The national average salary estimate for Risk Analyst was $85,715. This number is estimated from over 5,062 employees, users past and present job advertisements from Indeed.com. This equates to an hourly salary of $44.64 and monthly of $7,143.

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$21,000

$193,000

Salary Distribution

Salary by State

The following section lists Risk Analyst salaries in each state around the country. The figures are based on the total number of job postings through Indeed.com. For example, Michigan had the largest quoted salary of $105,253 while Arkansas had the smallest quoted salary of $26,400.

Alaska – $66,000Rank: 49th
The average salary ranks 49th among states in the country. There were no current job openings from employers in this state.

Alabama – $99,681 (▲16% Above national average)Rank: 12th
The average salary ranks 12th among states in the country. There were also job openings from employers like Selby Jennings.

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$27,000

$216,000

Salary Distribution
Arkansas – $26,400 (▼59% Below national average)Rank: 13th
The average salary ranks 13th among states in the country. There were also job openings from employers like Walmart and Accounting Career Network.

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$7.25

$20.65

Salary Distribution
Arizona – $62,438 (▼27% Below national average)Rank: 44th
The average salary ranks 44th among states in the country. There were also job openings from employers like Spyglass Group Executive Search, Robert Half Finance & Accounting, JPMorgan Chase, and Collabera.

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$22,000

$122,000

Salary Distribution
California – $87,310 (●Meets national average)Rank: 8th
The average salary ranks 8th among states in the country. There were also job openings from employers like MUFG Union Bank, Municipal Pooling Authority, Western Asset Management, and Facebook.

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$31,000

$172,000

Salary Distribution
Colorado – $56,719 (▼34% Below national average)Rank: 36th
The average salary ranks 36th among states in the country. There were also job openings from employers like Analytic Recruiting, Credit Union of Colorado, and Randstad.

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$14,000

$163,000

Salary Distribution
Connecticut – $78,590 (▼8% Below national average)Rank: 4th
The average salary ranks 4th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, UBS, and Randstad.

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$21,000

$170,000

Salary Distribution
DC – $95,278 (▲11% Above national average)Rank: 1st
The average salary ranks 1st among states in the country. There were also job openings from employers like Green Key Resources, Selby Jennings, Abs Consulting, and Department Of Housing And Urban Development.

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$34,000

$185,000

Salary Distribution
Delaware – $77,406 (▼10% Below national average)Rank: 37th
The average salary ranks 37th among states in the country. There were also job openings from employers like Barclays and JPMorgan Chase.

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$28,000

$150,000

Salary Distribution
Florida – $50,095 (▼42% Below national average)Rank: 28th
The average salary ranks 28th among states in the country. There were also job openings from employers like SherlockTech Staffing, WG Financing, Xoriant Solutions Pvt Ltd, and PHH Mortgage.

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$14,000

$113,000

Salary Distribution
Georgia – $66,431 (▼23% Below national average)Rank: 5th
The average salary ranks 5th among states in the country. There were also job openings from employers like Principle Solutions Group, Randstad, and Synergy Solutions.

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$21,000

$137,000

Salary Distribution
Hawaii – $55,000Rank: 52nd
The average salary ranks 52nd among states in the country. There were no current job openings from employers in this state.

Iowa – $78,055 (▼9% Below national average)Rank: 17th
The average salary ranks 17th among states in the country. There were also job openings from employers like Selby Jennings and Transamerica Life Insurance Company.

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$28,000

$152,000

Salary Distribution
Idaho – $33,158 (▼48% Below national average)Rank: 51st
The average salary ranks 51st among states in the country. There were also job openings from employers like University of Idaho.

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$8.65

$26.05

Salary Distribution
Illinois – $88,166 (●Meets national average)Rank: 6th
The average salary ranks 6th among states in the country. There were also job openings from employers like Smith Hanley Associates, LLC, Huxley Banking & Financial Services, Request Technology, and Capgemini.

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$29,000

$179,000

Salary Distribution
Indiana – $86,000Rank: 23rd
The average salary ranks 23rd among states in the country. There were no current job openings from employers in this state.

Kansas – $82,000Rank: 31st
The average salary ranks 31st among states in the country. There were no current job openings from employers in this state.

Kentucky – $77,000Rank: 42nd
The average salary ranks 42nd among states in the country. There were no current job openings from employers in this state.

Louisiana – $80,000Rank: 33rd
The average salary ranks 33rd among states in the country. There were no current job openings from employers in this state.

Massachusetts – $97,064 (▲13% Above national average)Rank: 2nd
The average salary ranks 2nd among states in the country. There were also job openings from employers like Robert Half Technology, State Street, Robert Half Finance & Accounting, and SANTANDER BANK, N.A..

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$37,000

$184,000

Salary Distribution
Maryland – $78,020 (▼9% Below national average)Rank: 11th
The average salary ranks 11th among states in the country. There were also job openings from employers like Bill Me Later, Inc., AEGON USA Realty Advisors, LLC, Transamerica Life Insurance Company, and Global Payments.

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$21,000

$169,000

Salary Distribution
Maine – $79,000Rank: 38th
The average salary ranks 38th among states in the country. There were no current job openings from employers in this state.

Michigan – $105,253 (▲23% Above national average)Rank: 14th
The average salary ranks 14th among states in the country. There were also job openings from employers like Gilbert Consulting Services Inc. and Selby Jennings.

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$33,000

$217,000

Salary Distribution
Minnesota – $85,179 (●Meets national average)Rank: 40th
The average salary ranks 40th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Request Technology, CyberCoders, and U.S. Bank.

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$32,000

$162,000

Salary Distribution
Missouri – $74,710 (▼13% Below national average)Rank: 18th
The average salary ranks 18th among states in the country. There were also job openings from employers like Department of Homeland Security, Robert Half Finance & Accounting, Mountain, Ltd, and Selby Jennings.

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$27,000

$145,000

Salary Distribution
Mississippi – $71,079 (▼17% Below national average)Rank: 9th
The average salary ranks 9th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting and The Lewis Group.

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$16,000

$166,000

Salary Distribution
Montana – $75,000Rank: 43rd
The average salary ranks 43rd among states in the country. There were no current job openings from employers in this state.

North Carolina – $72,096 (▲13% Above national average)Rank: 26th
The average salary ranks 26th among states in the country. There were also job openings from employers like Bank Of America, HireNetworks, Robert Half Finance & Accounting, and TEKsystems.

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$8.85

$86.15

Salary Distribution
North Dakota – $80,000Rank: 34th
The average salary ranks 34th among states in the country. There were no current job openings from employers in this state.

Nebraska – $76,659 (▼11% Below national average)Rank: 50th
The average salary ranks 50th among states in the country. There were also job openings from employers like Farm Credit Services of America, ACA.

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$24,000

$157,000

Salary Distribution
New Hampshire – $88,000Rank: 19th
The average salary ranks 19th among states in the country. There were no current job openings from employers in this state.

New Jersey – $84,769 (●Meets national average)Rank: 7th
The average salary ranks 7th among states in the country. There were also job openings from employers like PHH Mortgage, Experis, Modis, and Robert Half Management Resources.

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$27,000

$175,000

Salary Distribution
New Mexico – $78,000Rank: 41st
The average salary ranks 41st among states in the country. There were no current job openings from employers in this state.

Nevada – $68,000Rank: 47th
The average salary ranks 47th among states in the country. There were no current job openings from employers in this state.

New York – $102,758 (▲20% Above national average)Rank: 3rd
The average salary ranks 3rd among states in the country. There were also job openings from employers like Robert Walters, Experis, Employment Staffing, and Robert Walters Associates Inc.

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$26,000

$229,000

Salary Distribution
Ohio – $70,621 (▼18% Below national average)Rank: 24th
The average salary ranks 24th among states in the country. There were also job openings from employers like Robert Half Finance & Accounting, Maganti IT Resources LLC, Federal Home Loan Bank of Cincinnati, and Accounting Career Network.

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$14,000

$169,000

Salary Distribution
Oklahoma – $54,088 (▼37% Below national average)Rank: 29th
The average salary ranks 29th among states in the country. There were also job openings from employers like Inceed.

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$27,000

$82,000

Salary Distribution
Oregon – $66,727 (▼22% Below national average)Rank: 21st
The average salary ranks 21st among states in the country. There were also job openings from employers like Federal Government Jobs.

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$23,000

$132,000

Salary Distribution
Pennsylvania – $80,263 (▼6% Below national average)Rank: 25th
The average salary ranks 25th among states in the country. There were also job openings from employers like PORTER & CURTIS, LLC, American Cybersystems, Inc. (ACS Group), Robert Half Management Resources, and Resources for Human Development, Inc..

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$20,000

$180,000

Salary Distribution
Rhode Island – $82,000Rank: 32nd
The average salary ranks 32nd among states in the country. There were no current job openings from employers in this state.

South Carolina – $66,838 (▼22% Below national average)Rank: 20th
The average salary ranks 20th among states in the country. There were also job openings from employers like SC Career Search.

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$16,000

$150,000

Salary Distribution
South Dakota – $68,000Rank: 48th
The average salary ranks 48th among states in the country. There were no current job openings from employers in this state.

Tennessee – $77,660 (▼9% Below national average)Rank: 30th
The average salary ranks 30th among states in the country. There were also job openings from employers like Selby Jennings, Robert Half Finance & Accounting, and Frink-Hamlett Legal Solutions.

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$21,000

$168,000

Salary Distribution
Texas – $71,998 (▼16% Below national average)Rank: 22nd
The average salary ranks 22nd among states in the country. There were also job openings from employers like Selby Jennings, Robert Half Finance & Accounting, Staff Perm LLC, and Staff Perm.

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$17,000

$163,000

Salary Distribution
Utah – $57,475 (▼33% Below national average)Rank: 46th
The average salary ranks 46th among states in the country. There were also job openings from employers like Access Staffing LLC.

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$27,000

$99,000

Salary Distribution
Virginia – $89,576 (●Meets national average)Rank: 15th
The average salary ranks 15th among states in the country. There were also job openings from employers like Request Technology, Green Key Resources, National Associates, Inc., and Abs Consulting.

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$31,000

$178,000

Salary Distribution
Vermont – $79,000Rank: 39th
The average salary ranks 39th among states in the country. There were no current job openings from employers in this state.

Washington – $93,000Rank: 10th
The average salary ranks 10th among states in the country. There were no current job openings from employers in this state.

Wisconsin – $80,000Rank: 35th
The average salary ranks 35th among states in the country. There were no current job openings from employers in this state.

West Virginia – $85,000Rank: 27th
The average salary ranks 27th among states in the country. There were no current job openings from employers in this state.

Wyoming – $74,000Rank: 45th
The average salary ranks 45th among states in the country. There were no current job openings from employers in this state.

Top 20 National Employers

According to Indeed.com, the following states had employers looking to hire a Risk Analyst. The quoted salary figure represents the average salary from all job postings by this employer.

Employer NameLocationAverage Salary
Selby JenningsTexas$99,887
Request TechnologyVirginia$99,756
HSBC$99,514
Robert Half TechnologyMassachusetts$99,504
Bill Me Later, Inc.Maryland$99,064
SherlockTech StaffingFlorida$98,396
Robert Half Finance & AccountingMinnesota$98,279
Robert WaltersNew York$97,954
Selby JenningsTennessee$97,898
Green Key ResourcesDC$96,693
MUFG Union BankCalifornia$96,631
Request TechnologyMinnesota$96,593
Green Key Resources$95,655
Selby JenningsIowa$95,000
Smith Hanley Associates, LLCIllinois$94,455
Robert Half Finance & AccountingOhio$93,219
Huxley Banking & Financial ServicesIllinois$92,819
Robert Half Finance & AccountingTexas$92,546
Green Key ResourcesVirginia$92,197
Bank Of AmericaNorth Carolina$91,834

References

*Indicates number of job postings as of June, 2017.

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