Risk Management Consultant Salary

Consultants who assist businesses with risk management are referred to as actuaries, and therefore are frequently required undertake a the least a bachelor's degree in math, statistics or actuarial science. Risk management consultants earn an income in line with the industry by which they work, their location and their degree of education and certification.

Salary The typical salary for risk management consultants in the usa is $97, 450 by Might 2009, based on the Bureau of Labor Statistics. The median salary is $87, 210, with the salary scale which range from $51, 950 for consultants in the underside 10 % to $158, 240 for all those in the very best 10 %. Industry As they are experts in assessing risks, actuary consultants have been in especially popular in the insurance industry; actually, the BLS reports that around 55 percent work with insurance carriers. The salary for risk management consultants in this industry is $96, 080, while those employed by agencies, brokerages, along with other insurance related activities earn slightly higher at $98, 630. Consultants in general management, scientific and technical consulting services earn typically $107, 970 annually, while those in the management of businesses and enterprises earn $91, 000 yearly. Location Cost of residing in a place will affect the salary of a risk management consultant. The five top paying states or districts with this occupation are Pennsylvania, New Mexico, Washington, D. C., Indiana and Wisconsin, where in fact the salary averages vary from $106, 220 to $120, 620. In the urban centers of Appleton, Wis., Fort Worth, Texas, and North park, Ca., the salary averages vary from $136, 090 to $140, 920. Certification And a bachelor's or master's degree, risk management consultants frequently become certified through passing a number of exams. The BLS reports that both societies that sponsor programs that result in professional status being an actuary would be the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). The former is for risk management consultants who would like to work in life insurance coverage, health advantages systems, retirement systems and finance and investment, as the latter is for all those active in the property and casualty field, which include problems of malpractice and injury liability.