Average Financial Risk Specialists Salary in New York-Newark-Jersey City, NY-NJ
Financial Risk Specialists in the New York-Newark-Jersey City, NY-NJ metropolitan area command an impressive average annual salary of $157,880. This figure significantly surpasses the national average of $121,220, reflecting the intense demand and specialized nature of risk management roles within this major financial hub. The concentration of financial institutions and complex market dynamics in this region directly contributes to the elevated compensation for these critical professionals.
Executive Summary
- Average Salary: $157,880 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $222,390.
- Outlook: The job market for Financial Risk Specialists in New York-Newark-Jersey City appears robust, evidenced by a substantial local workforce of 11,340 individuals. Coupled with a Location Quotient of 3.32, this indicates a significantly higher concentration of these roles compared to the national average, suggesting strong and sustained demand for their expertise within the region's thriving financial ecosystem.
Salary Overview
The average Financial Risk Specialists in New York-Newark-Jersey City, NY-NJ earns+30.2%above the national average.
$75.9
$3,036
$13,157
Financial Risk Specialists Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume a positive salary growth trend for Financial Risk Specialists in a dynamic market like New York-Newark-Jersey City over the past four years. Factors such as increasing regulatory complexity, evolving financial products, and a growing emphasis on proactive risk mitigation likely contribute to upward pressure on compensation for these specialized roles.
Financial Risk Specialists Salary Distribution in New York-Newark-Jersey City, NY-NJ
Salary progression for Financial Risk Specialists is strongly tied to experience and expertise. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with a proven track record in complex risk analysis and mitigation strategies can command salaries well into the upper percentiles. The widening gap between entry-level and senior roles underscores the significant career growth and earning potential available within this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $86,680 | $41.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $118,410 | $56.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $141,960 | $68.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $197,350 | $94.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $222,390 | $106.9 |
Detailed Financial Risk Specialists Market Analysis
Relocation Context
Nominal Salary
$157,880
Gross Pay
Real Wage (Purchasing Power)
$157,880
Adjusted for COL (100)
With an average annual salary of $157,880 and a Cost of Living Index at the national average of 100, Financial Risk Specialists in New York-Newark-Jersey City experience a strong purchasing power. The high nominal salary effectively offsets the baseline cost of living, suggesting that the compensation is competitive and allows for a comfortable standard of living relative to national benchmarks.
Job Market Context
11,340
Total Jobs
1.211
Per 1K Jobs
3.32
Location Quotient
New York-Newark-Jersey City, NY-NJ has 3.3x the national concentration of Financial Risk Specialists jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 3.32 for Financial Risk Specialists in New York-Newark-Jersey City signifies a highly concentrated job market. This indicates that the demand for these professionals is more than three times the national average relative to the overall workforce, making it a prime location for those seeking specialized opportunities and suggesting a competitive environment for employers seeking top talent.
Nearby Job Markets
Nearby Cities for Financial Risk Specialists
| City | Salary | Dist. |
|---|---|---|
| Kiryas Joel-Poughkeepsie-Newburgh, NY Financial Risk Specialists Salary | $120,080↓ 24% | 44 mi |
| Trenton-Princeton, NJ Financial Risk Specialists Salary | $120,520↓ 24% | 52 mi |
| Bridgeport-Stamford-Danbury, CT Financial Risk Specialists Salary | $147,180↓ 7% | 54 mi |
| New Haven, CT Financial Risk Specialists Salary | $135,170↓ 14% | 70 mi |
| Waterbury-Shelton, CT Financial Risk Specialists Salary | $135,550↓ 14% | 77 mi |
Comparing salaries near New York-Newark-Jersey City, NY-NJ
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Frequently Asked Questions
How much does a Financial Risk Specialists make in New York-Newark-Jersey City, NY-NJ?
The median annual salary for a Financial Risk Specialists in New York-Newark-Jersey City, NY-NJ is $157,880. This typically ranges from $86,680 for entry-level positions to $222,390 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York-Newark-Jersey City, NY-NJ is 30.2% higher than the national median of $121,220.
Is New York-Newark-Jersey City, NY-NJ a lucrative place for Financial Risk Specialists?
Yes, it is a highly lucrative location for Financial Risk Specialists.The average salary of $157,880 is significantly above the national average, and the high concentration of these roles (LQ of 3.32) points to strong demand and competitive compensation.
Is New York-Newark-Jersey City, NY-NJ a good place to live for Financial Risk Specialists?
The Cost of Living Index in New York-Newark-Jersey City, NY-NJ is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York-Newark-Jersey City, NY-NJ?
Some top paying nearby cities include Kiryas Joel-Poughkeepsie-Newburgh, NY ($120,080) and Trenton-Princeton, NJ.
How does the salary compare to the national average?
The average salary for Financial Risk Specialists in New York-Newark-Jersey City is $157,880, which is substantially higher than the national average of $121,220.
What is the concentration of Financial Risk Specialists in this area?
The area has a Location Quotient of 3.32, meaning Financial Risk Specialists are more than three times as concentrated here compared to the national average.
Does the cost of living affect the value of the salary?
The Cost of Living Index is 100, which is the national average. This means the high salary of $157,880 offers strong purchasing power in this region.
How many Financial Risk Specialists work in this metropolitan area?
There are approximately 11,340 Financial Risk Specialists employed within the New York-Newark-Jersey City, NY-NJ metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 11,340 employees in the New York-Newark-Jersey City, NY-NJ area with a job density of 1.211 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Financial Risk Specialists • Data source: BLS OEWS 2024 •Jobs in New York-Newark-Jersey City, NY-NJ