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Professionals who work in risk management are responsible for predicting future problems, creating contingency plans, and mitigating damage when a crisis hits.
A bachelor’s degree can get you started in this field. But to hold a leadership position or work in a top-level organization, you’ll typically need at least a master’s degree.
A master’s degree can take you to the next phase of your career. These schools offer the best master’s in risk management Degrees.
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What kind of master’s degree in risk management should you get?
It’s important to consider what you want out of your graduate school experience. Do you already have a background in management and now you’re seeking a more advanced position? Or are you looking to transition into a new career? Is there a particular niche in which you want to specialize?
Answering these questions will make it much easier to find a degree program that corresponds to your professional and academic background as well as your goals for the future.
If you’re interested in other options for graduate school, pay a visit to our ranking of the Best Colleges and Universities.
How much money do people make with a risk management degree?
A master’s degree in risk management can lead to a lucrative career. According to the U.S. Bureau of Labor Statistics, the median pay for a Financial Manager is $125,080 per year. Actuaries have a median pay of $101,560 per year. For operations research analysts, that number is $81,390 per year.
It’s worth noting that the projected growth rate for these jobs is extremely strong. The expected job growth for operations research analysts is 27 percent - almost four times the expected growth rate for all occupations.
What can you do with a master’s degree in risk management?
By its nature, risk management is an interdisciplinary field. A master’s degree in this area can lead to careers in numerous industries and sectors. The focus of your degree program will significantly influence the type of jobs you’ll be qualified for once you graduate.
To give you an idea of your options, here’s a quick overview of some of the most common job titles for graduates with a master’s degree in risk management:
- Operational Risk Manager
- Client Services Manager
- Risk Analyst
- Claims Adjustment Specialist
- Risk Consultant
What are the requirements for a master’s degree in risk management?
Many schools will require GRE or GMAT scores as part of the application process. For some programs, you’ll need a certain number of years of work experience in your field before you can apply.
Remember that no two schools have exactly the same application process and admissions requirements. If you run into any questions, reach out to a university representative - they’ll be happy to help you understand what you need to be a competitive candidate for a specific program.
What are the best master’s degrees in risk management?
Our research team utilizes data from the Bureau of Labor Statistics, the National Center for Educational Statistics, and U.S. News & World Report. We also examine review sites such as Cappex and RateMyProfessor to understand the student experience at each college.
To determine which schools represent the best of the best, we look at a number of critical factors: quality, reputation, affordability, value, and satisfaction. This five-factor approach allows us to provide a thorough, definitive ranking of the Best Master's in Risk Management.
Ranking
See our rankings methodology page.
#1 Best Master’s In Risk Management Degrees
Columbia University in the City of New York
- New York, NY
- 4 years
- Online + Campus
Students interested in career advancement can earn a master of science in enterprise risk management at Columbia University in the City of New York. The private university meets the needs of diverse degree-seekers by offering flexible enrollment options. During the program, learners take graduate classes in risk management that build on their prior knowledge in the field.
Master's candidates benefit from a generous selection of college resources and support services. Financial aid advisors recommend scholarships and grants, while academic advisors help with course selections. Master's degree-seekers also participate in training events, networking opportunities, and tutoring sessions.
Columbia University in the City of New York at a Glance:
Total Master's Programs: 140
Total Online Master's Programs: 12
Admission Rate: 5%
Graduation Rate: 95%
Student-to-Faculty Ratio: 6-to-1
Graduate Tuition In State: $47,600
Graduate Tuition Out of State: $47,600
Average Alumni Earnings After Six Years: $77,900
Percent Online Enrollment
6%
Percentage of all students who are enrolled online.
Accreditation
Yes
Middle States Commission on Higher Education
#2 Best Master’s In Risk Management Degrees
University of Georgia
- Athens, GA
- 4 years
- Online + Campus
The University of Georgia stands out for its 116 master's programs, which include an MBA in risk management. The program appeals to students seeking a graduate degree that will increase their career opportunities. Graduate programs offer flexible enrollment options that make it easier for enrollees to fit classes into their schedule.
Learners take advanced classes that build a theoretical and practical understanding of the field. Internships and hands-on learning opportunities encourage degree candidates to gain varied experience while building professional connections. Students meet with faculty advisors to choose electives and concentrations to individualize the program.
University of Georgia at a Glance:
Location: Athens, Georgia
School Type: Public
Admission Rate: 45%
Graduate Tuition In State: $8,878
Graduate Tuition Out of State: $25,186
Percent of Students Awarded Aid: 97%
Average Amount Aid Awarded: $10,577
Average Price After Aid: $15,961
Percent Online Enrollment
14%
Percentage of all students who are enrolled online.
Accreditation
Yes
Southern Association of Colleges and Schools Commission on Colleges
#3 Best Master’s In Risk Management Degrees
Boston University
- Boston, MA
- 4 years
- Online + Campus
Students interested in advancing their career can earn their master's in enterprise risk management at Boston University. The private university meets the needs of diverse degree-seekers by offering flexible enrollment options. During the program, learners take graduate-level courses in risk management to enhance their understanding of the field.
Master's candidates benefit from the university's support services, which include academic and career services. Academic advisors can help with course selections, while financial aid counselors ensure students can fund their education. Master's degree-seekers can also attend networking events and make use of library services.
Boston University at a Glance:
Total Master's Programs: 170
Total Online Master's Programs: 24
Admission Rate: 19%
Graduation Rate: 88%
Student-to-Faculty Ratio: 10-to-1
Graduate Tuition In State: $54,720
Graduate Tuition Out of State: $54,720
Average Alumni Earnings After Six Years: $52,800
Percent Online Enrollment
10%
Percentage of all students who are enrolled online.
Accreditation
Yes
New England Commission on Higher Education
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