How Much Do Third Party Risk Managers Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary third party risk managers make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for third party risk managers and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of third party risk managers are offering as compensation.
Keep reading to learn more about how much third party risk managers can expect to make in the United States.
At a Glance: Salary & Jobs for Third Party Risk Managers
According to data from 2023, there were about 59,374 positions for third party risk managers in the United States. In terms of salary, the national median salary for third party risk managers was reported to be $106,101. Additionally, when examining job demand, employers across the country posted 61,568 job postings related to positions for third party risk managers.
How Much Money Do Third Party Risk Managers Make?
Median salary is just one data point. To build a better understanding of how much money third party risk managers and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for third party risk managers.
Annual Salary for Third Party Risk Managers
According to the BLS, the lowest earners for third party risk managers and related professions earned about $61,090 per year in 2023. Meanwhile, at the other end of the spectrum, the highest earners made about $184,330 annually.
As mentioned previously, the median salary for third party risk managers in the United States in 2023 was $106,101.
Annual Salary Range For Third Party Risk Managers In 2023
Hourly Salary for Third Party Risk Managers
The BLS also breaks down compensation for third party risk managers by hourly salary, and the median average hourly pay for third party risk managers in 2023 was $51. Lowest hourly earners took home $29 while the highest reported hourly salaries for third party risk managers was $89.
Hourly Salary Range For Third Party Risk Managers In 2023
Advertised Compensation for Third Party Risk Managers
Data from the BLS is one way to dig into compensation for third party risk managers, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for third party risk managers.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Third Party Risk Managers
Advertised Annual Salary
During a review of 63,835 job postings related to third party risk managers, advertised salary was included in 25,273 of them, which was 40%. Based on those postings, the median advertised salary for third party risk managers was $117,120 per year.
Hourly Salary from Job Postings for Third Party Risk Managers
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for third party risk managers. Based on 41% of postings with advertised compensation, the median hourly salary for open positions for third party risk managers in the United States is about $56.
Salary Trend for Third Party Risk Managers
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for third party risk managers. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for third party risk managers dating back to September 2020, advertised salaries for third party risk managers have increased 37%.
Advertised Wage Trend For Third Party Risk Managers
What's the Job Growth for Third Party Risk Managers?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for third party risk managers over the next 10 years.
According to the data obtained through Lightcast,™ there were 59,315 jobs for third party risk managers in the United States in 2023. By 2033, it is expected that about 6,461 jobs will be added. That's a 10.9% increase over the next 10-year period.
Employment Projections For Third Party Risk Managers
Additional Links
Ready to dig deeper into career information about third party risk managers? Visit our other pages focused on salary and education for third party risk managers.
What do third party risk managers do?
Third Party Risk Managers: How do you become one?
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