Average Salary Range of a Healthcare Risk Manager
Salaries for Healthcare Risk Managers vary greatly depending on a variety of factors, including experience, location, and employer. According to the Bureau of Labor Statistics, the median annual wage for all healthcare risk managers was $71,890 in May 2019.
The lowest 10 percent earned less than $44,580, and the highest 10 percent earned more than $122,440. The median salary for the top-paying states, such as California, Massachusetts, and New York, was higher than the national average.
In addition to salary, many healthcare risk managers receive bonuses and other forms of compensation. Bonuses can be based on performance, such as meeting goals or reducing costs, and may range from a few hundred dollars to tens of thousands of dollars.
Healthcare risk managers also may receive benefits, such as health insurance, vacation days, and retirement plans. Many employers offer continuing education and training opportunities, which can help healthcare risk managers stay up-to-date on the latest regulations and best practices.
Overall, healthcare risk managers can expect to receive competitive salaries and benefits packages that allow them to thrive in their career. Although salaries vary based on experience, location, and employer, healthcare risk managers can expect to earn a median salary of more than $70,000.