What is the salary and career path for a risk analyst?
An insurance risk analyst maps closely to Financial Risk Specialists (SOC 13-2054), the code for professionals who measure and manage financial and insurance risk, so the OEWS May 2025 median is $117,330 a year ($56.41 an hour), from $64,820 at the 10th percentile to $196,110 at the 90th. Analysts who build predictive models and own enterprise-risk work cluster in the upper half. BLS projects 6.5% growth over 2024–2034, faster than average, with roughly 4,800 openings a year. No license is required, but analytical modeling skill and designations such as ARM or FRM define the role.
- Risk Analysts earn a national median $117,330/yr ($56.41/hr) (BLS OEWS May 2025, SOC 13-2054); the top 10% clear $196,110.
- No license is required, but analytical modeling skill and designations such as ARM or FRM define the risk-analyst role.
- BLS projects 6.5% growth for 2024–34, faster than average, with roughly 4,800 openings a year.
- The ladder runs from junior risk analyst through senior analyst to risk manager or director near $196,110.
Career Path
How do you become a risk analyst?
Junior Risk Analyst
Pulls data and runs risk reports under supervision; pay near the BLS 10th percentile.
Risk Analyst
Builds models and quantifies exposures across the book — around the $117,330 median.
Senior Risk Analyst
Owns complex risk models and enterprise-risk analysis; earnings near the 75th percentile.
Risk Manager / Director of Risk
Leads the risk function and risk appetite; top-decile pay near the 90th percentile.
BLS Salary Data
Which state pays risk analysts the most in 2026?
Source: BLS OEWS May 2025, SOC 13-2054. National median: $117,330. Full salary guide →
Pay Comparison
How does risk analyst pay compare to related roles?
Head-to-head against the roles risk analysts most often weigh against. BLS OEWS May 2025 medians.
Takeaway: risk analysts rank 2 of 4 on median pay among the comparable roles above, with a projected +6.5% employment change 2024–34 (BLS Employment Projections). Pay position and projected demand together are what determine how quickly risk analysts clear offers across the GlobalCybers placement network.
Methodology & Sources
How this guide is sourced and reviewed
Wages (BLS): All median and percentile figures are BLS OEWS May 2025, SOC 13-2054 (risk analysts) and the matching SOC codes for each comparison role. OEWS is sampled on a rolling 3-year basis and published ~10 months after collection, so treat it as a firm anchor rather than a spot rate.
Job growth: Projected 2024–34 employment change, and the average annual openings figure, are from the BLS Employment Projections program, by occupation. Openings are a per-year average over the projection decade, not a decade total.
Licensing & credentials:Requirements are drawn from the issuing state licensing boards and the certifying body behind each credential — not from third-party aggregators.
Demand signal:Any statement about how quickly this role clears offers reflects GlobalCybers placement request volume across the trailing 12 months — our own network data, offered as a directional real-world indicator alongside BLS, not a market-wide survey.
Credentials
What licences and certifications do risk analysts need?
An Institutes designation covering risk identification, analysis and treatment across an organization. See all state licences →
A GARP credential focused on quantitative market, credit and operational risk measurement.
Finance, statistics, economics or math degree providing the analytical foundation for risk modeling.
Tools & Software
What tools and software do risk analysts use on the job?
⚙️ Core Tools & Equipment
📊 BLS Employment Data, SOC 13-2054
Salary Levers
How do risk analysts earn above the $117,330 BLS median?
Modeling depth and specialization
Owning predictive and catastrophe models moves an analyst from the $64,820 entry tier toward the $117,330 median.
Designations and enterprise scope
ARM or FRM plus enterprise-risk ownership lifts earnings toward the $158,250 upper quartile.
Advancement to risk leadership
Risk-manager and director roles setting risk appetite push earnings toward the $196,110 top decile.
This Route vs. College
Is becoming a risk analyst worth it vs. a 4-year degree?
The entry route into this role, set against a four-year degree. Same starting line, side by side.
Entry-level (10th percentile) and all-level median wages: BLS OEWS May 2025, SOC 13-2054. Student-debt figure: median federal borrower balance for bachelor's-degree completers. Starting-salary comparison is illustrative and varies by field and region.
FAQ
Risk Analyst Career, Frequently Asked Questions
Risk Analyst career research journey
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