What is the salary and career path for a risk manager?
Risk manager maps most closely to Financial Risk Specialists (SOC 13-2054); the OEWS May 2025 median is $117,330 a year ($56.41 an hour), running from $64,820 at the 10th percentile to $196,110 at the 90th for senior risk managers and heads of risk. BLS projects the code to grow 6.5% over 2024–2034, faster than average, though on a small base of roughly 4,800 openings a year. Entry usually needs a bachelor's degree in finance, economics or a quantitative field, and the defining credentials are GARP's FRM (Financial Risk Manager) and PRMIA's PRM.
- Risk Managers earn a national median $117,330/yr ($56.41/hr) (BLS OEWS May 2025, SOC 13-2054); the top 10% clear $196,110.
- Risk manager maps most closely to Financial Risk Specialists (SOC 13-2054), with a $117,330 median and a $64,820-to-$196,110 range up to the head-of-risk level.
- BLS projects the code to grow 6.5% through 2034, faster than average, though on a small base of roughly 4,800 openings a year.
- Entry needs a quantitative bachelor's degree, with GARP's FRM and PRMIA's PRM the defining risk-management credentials.
Career Path
How do you become a risk manager?
Risk analyst
Modeling exposures and monitoring limits, a risk analyst sits above the $64,820 10th percentile of the code.
Risk Manager
Owning a risk area and its controls and reporting earns around the $117,330 median.
Senior risk manager
Leading enterprise or portfolio risk pushes pay toward the $158,250 75th percentile.
Head of risk / Chief Risk Officer
Owning the risk framework for the enterprise reaches the $196,110 90th percentile and, at CRO level, beyond it.
BLS Salary Data
Which state pays risk managers the most in 2026?
Source: BLS OEWS May 2025, SOC 13-2054. National median: $117,330. Full salary guide →
Pay Comparison
How does risk manager pay compare to related roles?
Head-to-head against the roles risk managers most often weigh against. BLS OEWS May 2025 medians.
Takeaway: risk managers rank 3 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 managers 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 managers) 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 managers need?
The typical entry credential; finance, economics or statistics are common. See all state licences →
GARP's globally recognized credential, the standard for financial risk professionals.
PRMIA's designation covering risk theory, practice and governance.
The Institutes' credential for enterprise, operational and insurance risk.
Tools & Software
What tools and software do risk managers use on the job?
⚙️ Core Tools & Equipment
📊 BLS Employment Data, SOC 13-2054
Salary Levers
How do risk managers earn above the $117,330 BLS median?
Earn the FRM or PRM
A recognized risk credential moves pay off the $64,820 floor toward the median and above.
Specialize in a high-value risk domain
Market, credit or model risk in banking supports a move toward the $158,250 75th percentile.
Advance to head of risk / CRO
Owning the enterprise risk framework reaches the $196,110 top decile and beyond at CRO level.
This Route vs. College
Is becoming a risk manager 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 Manager Career, Frequently Asked Questions
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