Haris Ashley
Risk management insurance is a lucrative career path, with salaries varying depending on location, experience, industry demand, and economic growth. The average base salary for risk management insurance in the United States is $73,079, with a typical range between $68,417 and $79,492. However, some sources state that the average salary can be as high as $154,668 per year, with top earners reporting salaries of up to $283,043. The salary also differs depending on the industry, with insurance being the highest-paying industry for risk management, followed by financial services, management consulting, and transportation and logistics.
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What You'll Learn
- Salary range for risk management insurance roles
- Highest-paying locations for risk management insurance professionals
- Industries with the highest salaries for risk management insurance roles
- Entry-level salaries for risk management insurance jobs
- Salary growth potential for risk management insurance professionals
Salary range for risk management insurance roles
Salary estimates for risk management insurance roles in the United States vary across sources and depend on several factors, including location, education, experience, industry demand, and economic growth. As of August 2025, the estimated average annual salary for risk management insurance roles ranges from $73,079 to $130,722.
According to Salary.com, the average base salary for risk management insurance positions in the United States is $73,079, with a range of $68,417 to $79,492. The total cash compensation, including base pay and annual incentives, can reach up to $97,501, with an average of $82,015. However, Glassdoor reports a higher average salary of $130,722 per year, with top earners making up to $239,222. The typical pay range estimated by Glassdoor is between $98,042 and $183,011.
Location plays a significant role in salary variations for risk management insurance professionals. For example, in California, the average yearly salary for an insurance risk manager is $144,089, while in Massachusetts, it is $142,169, and in New Jersey, it is $141,594. San Francisco, CA, stands out with an average annual salary of $163,149, while New York, NY, offers an average of $151,392.
The industry an individual works in also impacts their salary. For instance, the average salary for risk and insurance managers in the energy industry is $92,918, the highest across industries. The finance industry follows closely with an average salary of $84,435. In contrast, the construction industry offers a lower average salary of $80,878.
It is worth noting that salaries for risk management insurance roles have been increasing over time. Between 2014 and 2025, the average salary for risk and insurance managers rose from $72,553 to $90,847, representing a 10% change. Additionally, the median salary for insurance risk managers specifically increased from $117,933 in 2023 to approximately $117,300 in 2025, according to Salary.com.
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Highest-paying locations for risk management insurance professionals
The salary of a risk management insurance professional varies depending on location, experience, and education. The average annual salary for risk management insurance in the US is $73,079, with salaries ranging from $64,172 to $85,332.
The highest-paying cities for risk management insurance professionals are San Francisco, Baltimore, and New York. The average salary in these cities is $132,931 per year, which is 5% higher than the national average. New York ranks 3rd out of 50 states nationwide for insurance risk management salaries.
Other high-paying locations include Nome, Alaska, which pays 24% more than the national average of $121,506. Berkeley, California, and Redwood City, California, also pay above the national average, with Redwood City offering salaries 22.4% higher.
The District of Columbia is also a high-paying region for risk management insurance professionals, with salaries 10.7% above national averages.
Risk and insurance managers in the energy industry earn an average of $92,918, the highest of any industry. The finance industry also offers competitive salaries, with an average of $84,435.
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Industries with the highest salaries for risk management insurance roles
The average risk and insurance manager salary in the United States is $90,847, with salaries typically ranging from $58,000 to $141,000 per year. The average hourly rate for risk and insurance managers is $43.68. The highest-paying cities for risk and insurance managers are San Francisco, Baltimore, and New York. The average risk and insurance manager salary in New Hampshire, Maryland, and New York are the highest in the US. The lowest average risk and insurance manager salary states are Utah, Mississippi, and Florida.
The energy industry offers the highest salary for risk and insurance managers, at an average of $92,918 per year. The finance industry is the second-highest paying industry, with an average salary of $84,435. Risk and insurance managers in the construction industry earn an average of $80,878, the lowest of any industry.
Risk management specialists, who evaluate and mitigate financial risks for companies and organizations, earn an average salary of $98,500. Risk control directors, who are responsible for controlling risk and developing safety nets to prevent losses, have a salary range of $141,000.
The top-paying companies in insurance for risk management include AIG, USAA, and Nationwide. The average salary for risk management roles in insurance is $154,744, while financial services, management & consulting, and transportation & logistics pay $145,180, $134,845, and $131,808, respectively.
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Entry-level salaries for risk management insurance jobs
In large companies, the risk management function is typically overseen by a professional risk manager, who earns substantially more, with salaries averaging $150,000 to over $300,000 per year. However, their staff members are also compensated proportionately, with salaries ranging from $40,000 to $60,000 per year.
Within the insurance industry, risk management positions have a median total pay of $154,744, while the finance industry offers a median of $145,180, and management consulting pays a median of $134,845. These salaries can be influenced by factors such as location, experience, and specialization.
For example, an entry-level risk manager with less than a year of experience can expect an average total compensation of around $77,590, while an early career risk manager with 1-4 years of experience may earn approximately $85,669.
Other roles within risk management and insurance, such as insurance underwriters and account executives, can earn between $70,000 and $300,000, and $75,000 to over $1 million, respectively, depending on experience and responsibilities.
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Salary growth potential for risk management insurance professionals
The average base salary for risk management insurance positions ranges from $68,417 to $79,492, with a median of $73,079. However, the total cash compensation, including base pay and annual incentives, can be significantly higher, ranging from $70,701 to $97,501, with an average of $82,015. The salary trajectory in this field is positive, with the average risk and insurance manager salary in the United States increasing by $18,294 over the last ten years, reflecting a 10% change in pay.
Location plays a crucial role in salary growth potential, with certain cities and states offering higher compensation. For instance, San Francisco, CA, Baltimore, MD, and New York, NY, are among the highest-paying cities for risk and insurance managers, with average salaries above $150,000. Additionally, certain industries offer higher salaries for risk management insurance professionals. The energy industry, for instance, provides the highest average salary of $92,918, followed by the finance industry at $84,435.
Experience is another critical factor influencing salary growth potential. Entry-level positions in risk management insurance may offer salaries in the $60,000 range, but with experience and seniority, professionals can expect their earnings to increase significantly. Risk managers can rise into the $100,000s, and even higher with advanced degrees. For example, the median salary for an insurance risk manager with an associate's degree ranges from $129,691 to $140,972. Furthermore, specialized skills, certifications, and targeting high-paying regions can also enhance salary growth potential, providing opportunities to earn well above the average.
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Frequently asked questions
The average salary for a risk management and insurance role in the United States is around $130,722 per year.
The salary range for a risk management and insurance role in the United States is between $98,042 and $183,011 per year.
The average salary for an insurance risk manager in the United States is around $108,557 per year.
The salary of a risk management and insurance professional can be influenced by factors such as location, experience, industry demand, and economic growth.
Some of the top-paying companies for risk management and insurance roles include AIG, USAA, and Nationwide in insurance; KPMG in management and consulting; and Union Pacific and Enterprise Mobility in transportation and logistics.
