Wealth Management Risk Managers

The annual median salary for risk management professionals in the U.S. was $144,300 in 2023, according to RIMS—the risk management society.

The U.S. Department of Labor (DOL), which classifies risk managers with financial managers, reported a median yearly income for financial managers of $161,700 in May 2024. The lowest paid 10 percent earned less than $86,490, and the highest paid 25 percent earned more than $214,210.

The DOL reports that financial risk specialists earned salaries that ranged from $62,270 to $182,310 in May 2024. They earned median annual salaries of $106,000. Fifty percent of financial risk specialists earned between $80,280 and $145,020.

Risk managers receive benefits such as paid vacation and sick days, health and life insurance, pensions, and stock options. Benefits can be very generous at top investment banks. Some offer flexible work schedules and job sharing, family-focused programs (e.g., adoption leave, child care services, eldercare services), on-site fitness centers, work/life coaching, and employee discounts on various products and services (such as bank and insurance products).