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What does a Risk Management Analyst earn?
Risk Management Analysts typically earn approximately £50,000 per annum in the UK. Their job is to help clients identify, assess and manage risks associated with particular projects or operations. Working with a range of organisations from small businesses to large corporate entities, Risk Management Analysts can specialise in an area such as operational risk, market risk, or credit risk.
How to earn more as a Risk Management Analyst
To become a Risk Management Analyst, you will need a degree in finance, economics, or accounting. Alternatively, you can gain professional qualifications from the Chartered Institute of Risk Management. To earn more, you may choose to specialise in a particular sector, such as health and safety, insurance, or banking. You could also become self-employed or set up your own risk management consultancy. Senior risk management analysts can make over £97,800 a year.
Min: £26,000.00 Max: £97,800.00
Average Risk Management Analyst Salary in UK : £49,953.09
Read about Risk Management Analyst salaries, related jobs and salary information across the UK
Risk Management Analyst Salary data from the ONS
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Recommended Risk Management Analyst Jobs in UK
Average Salary for Risk Management Analyst compared to similar jobs
Related Jobs
View salaries for similar jobs.
| Job Title | UK Average |
|---|---|
| Credit Control Analyst Salary in UK | £27,893.22 |
| Inventory Analyst Salary in UK | £31,819.99 |
| Market Research Analyst and Marketing Specialist Salary in UK | £31,941.73 |
| Commercial Credit Analyst Salary in UK | £34,547.65 |
| Intelligence Analyst Salary in UK | £35,184.30 |
| Production Analyst Salary in UK | £36,175.89 |
| Competitive Intelligence Analyst Salary in UK | £37,523.43 |
| Resource Planning Analyst Salary in UK | £38,075.30 |
| Supply Chain Analyst Salary in UK | £38,294.56 |
| Broadcast News Analyst Salary in UK | £39,871.25 |
| Operations Research Analyst Salary in UK | £40,569.15 |
| Operations Support Analyst Salary in UK | £41,365.72 |
| Performance Analyst Salary in UK | £42,843.88 |
| Business Operations Analyst Salary in UK | £43,435.83 |
| Commercial Analyst Salary in UK | £43,806.42 |
Salary by Region
Compare Risk Management Analyst salaries across different regions
| Region | Salary |
|---|---|
| Scotland | £47,677.31 |
| Wales | £37,881.19 |
| Northern Ireland | £40,738.00 |
| East Midlands | £40,842.63 |
| Eastern | £45,350.50 |
| London | £62,568.88 |
| North East | £39,255.92 |
| North West | £42,219.10 |
| South East | £45,856.08 |
| South West | £41,693.62 |
| West Midlands | £46,542.95 |
| Yorkshire and the Humber | £41,914.87 |
Annual Job Ads by Region
Understanding the Average Risk Management Analyst Salary in the UK
As a Risk Management Analyst in the UK, it's important to have a clear understanding of the average salary in this field. According to average Information Technology (IT) salaries, the average salary for a Risk Management Analyst in the UK is £50,000 per year. This figure can vary depending on factors such as experience, qualifications, and location.
Salary Expectations for Newly Qualified Risk Management Analyst
If you're a newly qualified Risk Management Analyst, you may be wondering what salary you can expect. To get a better idea, it's recommended to explore the current job market. You can start your search by visiting job search websites that specialize in risk management roles. These platforms will provide you with valuable insights into the salary range for entry-level positions in the UK.
Salaries for Experienced Risk Management Analyst
For experienced Risk Management Analysts in the UK, the salary range tends to be higher than that of their newly qualified counterparts. With a proven track record and extensive knowledge in the field, you can expect to earn a salary between £26,000 and £97,800 per year. Keep in mind that these figures are approximate and can vary depending on various factors such as the size and industry of the company you work for.
Creating a Risk Management Analyst CV
When applying for a Risk Management Analyst position, having a well-crafted CV is crucial. It's important to highlight your relevant skills, qualifications, and experience in risk management. To make this process easier, you can utilize a CV template specifically designed for Risk Management Analysts. This template will guide you in showcasing your expertise and increasing your chances of securing a job interview.
Career Development Opportunities for Risk Management Analyst
As a Risk Management Analyst, there are numerous career development opportunities available to you in the UK. By continuously expanding your knowledge and skills in risk management, you can progress to higher-level positions such as Risk Manager or Risk Consultant. To explore these opportunities further, you can seek career advice from professionals in the field who can provide guidance on the best path to take.
Comprehensive Compensation for Risk Management Analyst
Aside from the base salary, Risk Management Analysts in the UK may also receive additional compensation in the form of bonuses, profit-sharing, or commission. These additional benefits can significantly enhance your overall earnings. It's important to negotiate your compensation package effectively to ensure you receive fair and comprehensive remuneration for your work.
Strategies for Increasing Your Salary as a Risk Management Analyst
If you're looking to increase your salary as a Risk Management Analyst, there are several strategies you can employ. Firstly, continuously updating your skills and knowledge in risk management can make you a valuable asset to employers, increasing your market value. Additionally, seeking out opportunities for professional certifications and qualifications can demonstrate your commitment to the field and potentially lead to higher-paying roles.
Professional Development and Earnings
Investing in your professional development can have a direct impact on your earnings as a Risk Management Analyst. By attending industry conferences, workshops, and networking events, you can expand your professional network and gain exposure to new opportunities. Building strong relationships with industry leaders and staying up-to-date with the latest trends and developments can position you for higher-paying roles and increased earning potential.
Capitalising on Extra Hours and Duties
As a Risk Management Analyst, there may be opportunities to take on extra hours or duties that can contribute to your overall earnings. This could include participating in special projects, taking on additional responsibilities, or offering your expertise in areas beyond your core role. By demonstrating your willingness to go above and beyond, you can showcase your value to employers and potentially negotiate higher compensation.
