What are the job responsibilities of a Risk Management Analyst? What does an individual in this position get paid in New Jersey?
Here is the position summary for Risk Management Analyst as found in BLR’s Salary Finder:
Formulate and apply mathematical modeling and other optimizing methods using a computer to develop and interpret information that assists management with decision making, policy formulation, or other managerial functions. May develop related software, service, or products. Frequently concentrates on collecting and analyzing data and developing decision support software. May develop and supply optimal time, cost, or logistics networks for program evaluation, review, or implementation.
In New Jersey, the midpoint of salaries reported for the position (50th percentile) is $88,676. The 75th percentile (the rate below which 75% of salary data falls) is $112,637. The 25th percentile (the rate below which 25% of the data falls) is $65,902.
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How much should you pay a Risk Management Analyst?
Compensation.BLR.com, a leading provider of compensation data, scores this job as exempt (not entitled to overtime). According to Compensation.BLR.com's rate ranges, grade 35 has a minimum of $52,687. The midpoint is $70,249, and the maximum is $87,820.
How much should an employer be paying a Risk Management Analyst in New Jersey? It depends on many factors, but the most important are the experience and skills of the employee or applicant. Answer these questions: How much experience does he or she have? How highly skilled is he or she? Then, use the table below. Interpolate as necessary.
|Applicant's Skills and Experience |
| ||Beginner||Competent||Expert |
|Salary Survey || || || |
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|Rate Range (Grade 35)||National|