How will your risk management education stack up?

If you want to study risk management at home, you should be aware of how your education will compare to the education available elsewhere in the US. Below is some information to help you get started. The US has 114 brick and mortar risk management schools.

Top Schools

The top institutions in the US in 2010 that had risk management programs were:

1. Columbia University in the City of New York - located in New York, New York
2. University of Pennsylvania - located in Philadelphia, Pennsylvania
3. University of California-Los Angeles - located in Los Angeles, California

Student Demographics

In 2010, degrees in risk management were earned by 1,870 students in the US. Of these students, 73 received certifications in risk management, 1,428 received an undergraduate degree in risk management, and 369 received a graduate-level degree in risk management.

Academics

Students can pursue education in risk management at the following levels:

Risk management students can expect to gain the following skills and/or knowledge while studying risk management:

• Problem Solving
• Creative Thinking
• Employee Benefits
• Mathematics
• Planning and Organization

Cost

Students at risk management schools around the nation paid an average of $17,760 in tuition fees per year in 2010. The risk management schools charging the highest tuition were:

1. Columbia University in the City of New York - located in New York, New York, students paid $41,316
2. Carnegie Mellon University - located in Pittsburgh, Pennsylvania, students paid $40,920
3. University of Pennsylvania - located in Philadelphia, Pennsylvania, students paid $38,970

The lowest tuition was charged by the following risk management schools:

1. Brigham Young University - located in Provo, Utah, students paid $4,290
2. University of Central Florida - located in Orlando, Florida, students paid $4,526
3. Florida State University - located in Tallahassee, Florida, students paid $4,566

How will your risk management job compare?

A large number of risk management majors work as risk managers after graduation. The US Bureau of Labor Statistics estimates that in 2010, 154,640 risk managers were working in the US. The largest numbers of risk managers work in the following states:

1. Florida - 9,500 Risk Managers
2. New Jersey - 8,810 Risk Managers
3. New York - 8,670 Risk Managers

Projected Growth

The following states are projected to have the fastest growth for risk managers over the next few years:

1. Idaho - 19%
2. South Carolina - 17%
3. Rhode Island - 16%

Salary

Risk managers in the US can make an average of $62,350 per year. However, the salary for a risk manager can greatly vary based on factors such as experience, shift differentials or shift differentials. Approximately 10 percent of risk managers earn less than $17,390 per year, while another 10 percent earn more than $166,110 per year. Risk managers in the following states make the highest salaries on average:

1. Washington DC - $89,540 per year
2. Connecticut - $82,230 per year
3. Virginia - $72,380 per year

On average, a risk manager earns the least in the following states:

1. Kentucky - $47,470 per year
2. Arkansas - $47,950 per year
3. North Dakota - $49,990 per year