Financial Risk Specialists in Massachusetts
Thinking about a career as a Financial Risk Specialists in Massachusetts? Here’s what the data says. Analyze and measure exposure to credit and market risk threatening the assets, earning capacity, or economic state of an organization. May make recommendations to limit risk. Excludes “Credit Analysts” (13-2041).
What do Financial Risk Specialists Make in Massachusetts?
For financial risk specialists working in Massachusetts, the median annual wage is $118,960 per year (or roughly $57.19/hour).Earnings range from $69,500 at the 10th percentile to $181,810 at the 90th percentile.
| Wage Statistic | Annual | Hourly |
|---|---|---|
| 10th percentile | $69,500 | $33.42 |
| 25th percentile | $85,580 | $41.15 |
| Median (50th) | $118,960 | $57.19 |
| 75th percentile | $162,100 | $77.93 |
| 90th percentile | $181,810 | $87.41 |
The location quotient — a measure of how concentrated this occupation is in Massachusetts compared to the national average — is 1.12, indicating that financial risk specialists are more concentrated here than the national average.
National Wage Comparison
Nationally, financial risk specialists earn a median of $127,364 per year ($61.23/hour), below the Massachusetts median.
Employment Outlook
National employment for 711,759 financial risk specialists nationwide. In Massachusetts alone, around 1,490 people work in this role. That’s higher than the typical state, which employs around 520 financial risk specialists.
Top Massachusetts Metros for Financial Risk Specialists
These are the Massachusetts metros with the most financial risk specialists in Massachusetts.
| Metro Area | Number Employed | Annual Median Salary |
|---|---|---|
| Boston-Cambridge-Newton, MA-NH | 1,230 | $122,400 |
| Worcester, MA | 60 | $96,570 |
Top States for Financial Risk Specialists Employment
These states have the highest employment of financial risk specialists work.
| State | Number Employed |
|---|---|
| New York | 10,980 |
| California | 4,460 |
| Texas | 4,440 |
| Florida | 4,140 |
| Illinois | 2,810 |
| New Jersey | 2,370 |
| Pennsylvania | 2,240 |
| North Carolina | 2,160 |
| Ohio | 1,700 |
| Georgia | 1,560 |
| Massachusetts | 1,490 |
| Virginia | 1,420 |
| Delaware | 1,280 |
| Arizona | 1,150 |
| Missouri | 1,020 |
| Michigan | 1,000 |
| Maryland | 950 |
| Minnesota | 920 |
| Colorado | 880 |
| Washington | 790 |
Highest-Paying States for Financial Risk Specialists
The highest-paying states for financial risk specialists.
| State | Annual Median Salary |
|---|---|
| New York | $138,330 |
| Delaware | $130,060 |
| Alaska | $126,050 |
| New Jersey | $123,000 |
| Massachusetts | $118,960 |
| Wyoming | $115,730 |
| District of Columbia | $114,550 |
| Oregon | $113,870 |
| Virginia | $113,260 |
| Maine | $112,070 |
Daily Tasks
Common tasks include:
- Analyze areas of potential risk to the assets, earning capacity, or success of organizations.
- Analyze new legislation to determine impact on risk exposure.
- Conduct statistical analyses to quantify risk, using statistical analysis software or econometric models.
- Confer with traders to identify and communicate risks associated with specific trading strategies or positions.
- Consult financial literature to ensure use of the latest models or statistical techniques.
- Contribute to development of risk management systems.
- Determine potential environmental impacts of new products or processes on long-term growth and profitability.
- Develop contingency plans to deal with emergencies.
- Develop or implement risk-assessment models or methodologies.
- Devise scenario analyses reflecting possible severe market events.
- Devise systems or processes to monitor validity of risk assessments.
- Document, and ensure communication of, key risks.
Tools & Technology
Technologies frequently used: Hot technologies: Amazon Web Services AWS software, Apache Hive, Atlassian JIRA, C++, Google Docs, IBM SPSS Statistics In-demand technologies: Amazon Web Services AWS software, Microsoft Azure software
What Major Will Prepare You For This Career?
Programs that train for this career include:
- Accounting
- Finance & Financial Management
- Managerial Economics
- Management Sciences & Methods
- Business Administration & Management
Featured schools near , edit
Related Careers
Careers similar to financial risk specialists include:
- Financial Managers
- Investment Fund Managers
- Regulatory Affairs Managers
- Compliance Managers
- Loss Prevention Managers
- Regulatory Affairs Specialists
Also Known As
Analyst, Bank and Savings Securities Trader, Bond Analyst, Business Risk Manager, Compliance Risk Manager, Corporate Securities Research Analyst, Credit Risk Analyst, Energy Risk Management Analyst, Enterprise Risk Manager, Equity Research Analyst, Estate Executor, Financial Risk Analyst, Loss Control Consultant, Loss Control Inspector, Market Risk Analyst.
References
- U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics — https://www.bls.gov/oes/
- O*NET Online — https://www.onetonline.org/
- BLS Employment Projections — https://www.bls.gov/emp/
- O*NET-SOC code: 13-2054.00
BusinessDegreeCentral.com provides higher-education, college and university, degree, program, career, salary, and other helpful information to students, faculty, institutions, and other internet audiences. Presented information and data are subject to change. Inclusion on this website does not imply or represent a direct relationship with the company, school, or brand. Information, though believed correct at time of publication, may not be correct, and no warranty is provided. Contact the schools to verify any information before relying on it. Financial aid may be available for those who qualify. The displayed options may include sponsored or recommended results, not necessarily based on your preferences.
© BusinessDegreeCentral.com – All Rights Reserved.