- A risk consultant is also known as an actuary, according to the Bureau of Labor Statistics (BLS). The salary for a risk consultant in the United States was $97,450 as of May 2009, while the median salary was $87,210. Risk consultants in the 10th percentile earned $51,950, while those in the 90th percentile earned $158,240.
- Risk consultants are in particularly high demand in the field of insurance, where they earn an average of $96,080 a year. Those working in management, scientific and technical consulting services earned an average of $107,970, while those employed in agencies, brokerages and other insurance related activities earned an average of $98,630 a year. The highest wages were in business, professional, labor, political and similar organizations at $125,560 annually and the federal executive branch at $110,740., according to the BLS in 2009.
- The cost of living in an area will affect a risk consultant's salary. In May 2009 Connecticut had the highest concentration of risk consultants and offered an average salary of $99,430, followed by Kansas, which offered an average of $93,760. The highest wages for risk consultants were in Pennsylvania at $120,620 annually, followed by New Mexico at $113,140 and the District of Columbia at $110,470.
- A risk consultant has the best opportunity to advance when he successfully passes actuarial exams offered by societies such as the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). With these credentials, as well as experience, risk consultants can move on into positions such as Chief Risk Officer or Chief Financial Officer, earning higher wages. Another option is to move into independent consulting, which allows risk consultants to set their own rates.
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