Risk managers help businesses control risks and losses while maintaining the highest production levels possible. They work in industrial, service, nonprofit, and public-sector organizations. By protecting a company against loss, the risk manager helps it to improve operating efficiency and meet strategic goals. Approximately 697,900 financial managers, including risk managers, are employed in the United States. Risk managers are also known as risk officers.
Minimum Education Level
Risk managers' salaries vary depending on level of responsibility and authority, type of industry, organization size, and geographic region. The U.S. Department of Labor, which classifies risk managers with financial managers, reported a median yearly income for financial managers of $129,890 in May 2019. The lowest paid 10 percent earned less than $68,370, and the highest paid 25 percent earne...
Risk managers work in a variety of settings from schools, stores, and government agencies to manufacturers and airlines. Most work in offices, not on the production line, but they may be required to spend some time in production departments. They may have to travel to study risks in other companies or to attend seminars.
Risk managers usually work long hours, usually more than a 40-hour ...
Since advanced technology continues to increase productivity as well as the potential for disaster, the need for risk management will continue to grow. Organizations now recognize risk management as an integral and effective tool for cost-containment. The profession will continue to gain recognition in the next decade, so salaries and career opportunities are expected to continue to escalate. T...