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What does a Risk Manager earn?
Risk Managers typically earn around £66,600 per year in the UK. Risk Managers are responsible for identifying, assessing and mitigating any potential risks associated with their organisation. They must possess an in-depth understanding of the industry and how the organisation operates, and of all current regulations and legal requirements. They must also have the ability to evaluate data, trends and industry insights in order to develop policies to reduce negative exposure.
How to earn more as a Risk Manager
"To become a risk manager, you will need relevant qualifications such as a degree in financial risk management or a similar field. Depending on the organisation that you work in, you might also need additional qualifications or certifications. To move up the ranks and earn more, you may consider taking on the role of a risk manager at a larger organisation or becoming self-employed. At the higher end, risk managers can make upwards of £118,900 a year."
Min: £31,200.00 Max: £118,928.00
Average Risk Manager Salary in UK : £66,582.21
Read about Risk Manager salaries, related jobs and salary information across the UK
Risk Manager Salary data from the ONS
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Recommended Risk Manager Jobs in UK
Salary by Region
Compare Risk Manager salaries across different regions
Region | Salary |
---|---|
Scotland | £60,549.12 |
Wales | £43,480.70 |
Northern Ireland | £33,452.23 |
East Midlands | £51,286.79 |
Eastern | £50,399.51 |
London | £83,348.52 |
North East | £48,646.04 |
North West | £54,435.31 |
South East | £51,801.33 |
South West | £47,705.90 |
West Midlands | £57,492.26 |
Yorkshire and the Humber | £56,043.36 |
Annual Job Ads by Region
Understanding the Average Risk Manager Salary in the UK
As a Risk Manager in the UK, it is important to have a clear understanding of the average salary in the field. According to average Finance salaries, the average salary for a Risk Manager in the UK is £66,600 per year. This figure can vary depending on factors such as experience, qualifications, and the size of the company.
Salary Expectations for Newly Qualified Risk Manager
If you are a newly qualified Risk Manager, you may be wondering what salary you can expect. To get an idea of the current market rates, it is recommended to explore job search platforms that specialize in risk management positions. These platforms can provide valuable insights into the salary range for entry-level positions in the UK.
Salaries for Experienced Risk Manager
For experienced Risk Managers in the UK, the salary range tends to be higher than that of newly qualified professionals. With a proven track record and extensive knowledge in the field, experienced Risk Managers can command salaries ranging from £31,200 to £118,900 per year. Factors such as industry, location, and company size can also influence the salary offered.
Creating a Risk Manager CV
When applying for a Risk Manager position, having a well-crafted CV is essential. To ensure your CV stands out from the competition, you can utilize a CV template specifically designed for Risk Managers. This template will guide you in highlighting your skills, qualifications, and experience in a way that appeals to potential employers in the UK.
Career Development Opportunities for Risk Manager
As a Risk Manager in the UK, there are various career development opportunities available to enhance your skills and advance your career. Seeking career advice from professionals in the field can provide valuable insights into the steps you can take to progress in your career. Additionally, pursuing certifications and attending industry conferences can further enhance your marketability and earning potential.
Comprehensive Compensation for Risk Manager
Aside from the base salary, Risk Managers in the UK may also receive comprehensive compensation packages. These packages can include benefits such as health insurance, retirement plans, bonuses, and profit-sharing. It is important to consider the overall compensation package when evaluating job offers to ensure it aligns with your financial goals and needs.
Strategies for Increasing Your Salary as a Risk Manager
If you are looking to increase your salary as a Risk Manager in the UK, there are several strategies you can employ. These include continuously updating your skills and knowledge, taking on additional responsibilities, and seeking opportunities for professional development. Additionally, networking with industry professionals and staying informed about market trends can help you negotiate for higher salaries.
Professional Development and Earnings
Investing in your professional development as a Risk Manager can have a direct impact on your earnings. By staying up-to-date with industry best practices, acquiring new certifications, and expanding your skill set, you can position yourself for higher-paying roles and increased earning potential. Continuous learning and professional growth are key to thriving in the field of risk management in the UK.
Capitalising on Extra Hours and Duties
As a Risk Manager, there may be opportunities to earn additional income by taking on extra hours or duties. Some companies offer overtime pay or bonuses for working beyond regular hours or handling additional responsibilities. It is important to negotiate fair compensation for any extra work you undertake to ensure that your efforts are appropriately rewarded.