by our College Data Analytics TeamStudying Risk Management involves the study of A Program That Focuses On The Principles Of Business Risk Measurement, Mitigation, And Management. Includes Instruction In Business Analytics, Foundations Of Insurance And Risk Management, Investments, Life And Health Insurance, Loss Prevention, Property And Liability Insurance Risk Assessment, Risk Control, Risk Financing, And Security. Read on to learn the essential details every risk management student should know — including career paths, salary data, the skills you will develop, and the best colleges offering risk management programs.
In the U.S., risk management is a popular field of study, with 180 degrees awarded annually.
Our 2026 Best Risk Management Schools ranking analyzes these 13 schools to determine the best overall colleges for risk management students. Continue reading to check out one of our many unbiased rankings of risk management programs later in this article.
Studies in Risk Management build a specific mix of skills, knowledge, and abilities — derived from O*NET surveys of workers in the occupations risk management graduates commonly enter.
Skills built by a risk management program reflects the day-to-day work of related occupations:
Per O*NET surveys, a risk management major emphasizes the following knowledge areas:
There are several risk management degree levels. The table below shows the typical length of the most common levels, and how many graduates earn each one.
| Degree | Typical Program Length | Graduates Annually |
|---|---|---|
| Bachelor’s Degree | 4 years | 129 |
| Master’s Degree | 1-3 years | 51 |
People currently working in careers related to risk management tend to have obtained the following education levels.
| Level of Education | Percentage of Workers |
|---|---|
| Bachelor’s degree | 53.3% |
| Master’s degree | 18.1% |
| High school diploma or equivalent | 7.5% |
| Post-baccalaureate certificate | 6.5% |
| Some college courses | 4.7% |
| First professional degree | 3.7% |
| Associate’s degree (or other 2-year) | 3.1% |
| Less than a high school diploma | 1.8% |
| Postsecondary certificate | 1.0% |
| Post-master’s certificate | 0.3% |
View the chart below to get an idea of what level of education most of those in risk management careers hold.
Source: ONET Online education / training / experience requirements.*
Majoring in risk management can lead to numerous career paths. Below are some of the most common occupations related to risk management.
The following options are some of the most in-demand careers related to risk management.
| Occupation | Projected Jobs | Expected Growth |
|---|---|---|
| Financial Risk Specialists | 684,551 | -3.8% |
| Treasurers and Controllers | 229,662 | 0.6% |
| Actuaries | 216,689 | -3.6% |
| Investment Fund Managers | 185,925 | 14.1% |
| General and Operations Managers | 163,335 | -2.2% |
| Financial Managers | 145,690 | 9.0% |
| Insurance Underwriters | 55,479 | -3.6% |
College Scorecard reports median earnings of risk management graduates 1, 4, and 5 years after completion. These numbers tend to grow as graduates gain experience.
| Years Out | Median Earnings |
|---|---|
| 1 year | $62,537 |
| 4 years | $63,883 |
| 5 years | $71,749 |
Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.
Salaries for risk management graduates vary widely by occupation. The following table shows the top highest-paying careers risk management grads often go into.
| Occupation | Median Annual Salary |
|---|---|
| Treasurers and Controllers | $162,461 |
| Investment Fund Managers | $157,819 |
| General and Operations Managers | $149,694 |
| Insurance Underwriters | $129,939 |
| Financial Risk Specialists | $127,364 |
| Financial Managers | $75,665 |
| Actuaries | $69,100 |
With 13 different risk management programs to choose from, finding the best fit can be a challenge. We have analyzed these schools to produce unbiased risk management school rankings to help you.
Those considering risk management, you may also want to explore other closely related fields of study within the same broad area.
| Related Major | Annual Graduates |
|---|---|
| Business Administration and Management, General | 336,590 |
| Organizational Leadership | 15,674 |
| Business Administration, Management and Operations, Other | 12,497 |
| Operations Management and Supervision | 12,273 |
| Logistics, Materials, and Supply Chain Management | 10,865 |
| Project Management | 4,784 |
| Office Management and Supervision | 3,126 |
| Non-Profit/Public/Organizational Management | 2,454 |
| Retail Management | 1,434 |
| Purchasing, Procurement/Acquisitions and Contracts Management | 1,230 |
More about our data sources and methodologies.
