Professionals who work in risk management are responsible for predicting future problems, creating contingency plans, and mitigating damage when a crisis hits.

Best Risk Management Masters

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.

This ranking can help you launch your search for the right program.

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.

1

University of Pennsylvania

College Choice Score: 100

Average Net Price: $22,944

School Website

Overview

With a student body of 25,000, the University of Pennsylvania is a globally engaged institution of higher learning. Founded in 1881, the Wharton School at Penn was the world’s first collegiate school of business. Today, Wharton enrolls more than 2,300 students and offers an array of nationally recognized undergraduate and graduate programs. The MBA program at Wharton features 19 areas of specialization and nearly 200 elective courses.

Program Features

Students at the University of Pennsylvania can earn a Master of Business Administration in Environmental and Risk Management. This interdisciplinary program incorporates coursework in Health Care Management, Legal Studies, Operations, Business and Public Policy, and other complementary fields. Candidates for this degree will have the opportunity to take classes such as:

  • Risk Analysis and Environmental Management
  • Process Management in Manufacturing
  • Seminar in Health Care Cost Benefit and Cost Effectiveness Analysis
  • Environmental Management: Law and Policy

Notables

Degree candidates may choose to complete an Advanced Study Project under the supervision of a Wharton faculty member. Penn offers a unique dual-degree program that culminates in a Master of Business Administration and a Master of Environmental Studies. Among students who graduated with a Wharton MBA and sought full-time employment, 97.1 percent received a job offer.

2

Columbia University

College Choice Score: 91.80

Average Net Price: $22,973

School Website

Overview

Located in New York City, Columbia University is a private, Ivy League research university serving over 32,000 students. The School of Professional Studies at Columbia offers 17 certificate or certification programs and 16 master’s degrees programs, all with a special focus on emerging market needs. Columbia students can earn graduate degrees in fields such as Information and Knowledge Strategy, Human Capital Management, and Enterprise Risk Management.

Program Features

The Master of Science in Enterprise Risk Management requires 36 credit-hours. The curriculum features a required core of seven courses, two Risk Category courses, and three elective courses. To fulfill the electives requirement, students may take courses such as Bayesian Data Analysis, Financial Accounting, or Data Visualization and Design. The 21 credit-hour required core for this degree includes courses such as:

  • Value-Based Enterprise Risk Management
  • Traditional Risk and ERM Practices
  • Managing Human Behavior in the Organization
  • Strategic Communications for Risk Professionals

Notables

Students may begin this program in either the fall or spring semesters. Coursework is available both on campus and fully online. Full-time students can earn their degree in as little as three semesters, while part-time students will typically finish in six semesters. At the end of their program, students will complete a semester-long capstone project.

3

University of Georgia

College Choice Score: 83.52

Average Net Price: $14,956

School Website

Overview

The history of the University of Georgia reaches back to 1785, when it became the nation’s first state-chartered university. Today, UGA is a distinguished “Public Ivy” institution that serves more than 28,000 undergraduates and 8,700 graduate students. The versatile MBA program at the University of Georgia offers a full complement of specialization tracks: Concentrations are available in Business Analytics, Healthcare Management, Human Resource Management, Real Estate, and many other areas.

Program Features

The Master of Business Administration with a concentration in Risk Management will teach students to identify, evaluate, and mitigate financial, operational, and other risks. All MBA candidates will take the same core of eight classes. Beyond that, students will take electives and coursework specific to their concentration. For the Risk Management program, the following coursework is required:

  • Financial Statement Analysis
  • Derivative Security Markets
  • Fundamentals of Risk Management
  • Corporate Risk Management

Notables

The MBA degree is flexible enough that many students are able to combine multiple concentrations. The emphasis in FinTech or Consulting can be added to any concentration. This MBA program is designed to be completed in two years. Graduates of the Risk Management program have been hired by State Street Corporation, Beecher Carlson, RidgeWorth Investments, and other influential organizations.

4

Boston University

College Choice Score: 81.90

Average Net Price: $31,539

School Website

Overview

Boston University is home to 17 schools and colleges offering 250 fields of study. In the most recent rankings from U.S. News & World Report, BU is tied at #37 among the Best National Universities. BU’s flexible graduate program in Enterprise Risk Management is available on campus, online, and in a hybrid, or blended, format.

Program Features

Boston University’s Master of Science in Enterprise Risk Management requires 40 credit-hours. The degree emphasizes sophisticated management practices used by the world’s top corporations, complemented by leading-edge academic theory. Through BU’s Dual Degree Option, students can combine this program with a master’s degree in Actuarial Science, Computer Information Systems, Computer Science, or Telecommunication. All candidates for the Enterprise Risk Management degree will be required to take the following coursework:

  • Financial Concepts
  • Quantitative and Qualitative Decision-Making
  • The Innovation Process: Developing New Products and Services
  • Business Continuity Management

Notables

Students who don’t wish to complete the requirements for a master’s degree can earn a Graduate Certificate in Enterprise Risk Management. The certificate requires only 16 credits, to be earned in four courses. Boston University also offers an MS in Applied Business Analytics, an MS in Global Marketing Management, an MS in Human Resources Management, and many other specialized business degrees.

5

Temple University

College Choice Score: 74.39

Average Net Price: $21,237

School Website

Overview

In the latest Carnegie Classification of Institutions of Higher Education, Temple University was elevated from the R2 category to the R1 category, which denotes “highest research activity.” This designation places Temple among the top 4 percent of all four-year institutions nationwide. The Fox School of Business at Temple University is the most comprehensive business school in the Philadelphia region, and it’s among the largest in the world.

Program Features

The Fox School presents a highly acclaimed Master of Science in Financial Analysis and Risk Management. After completing this program, graduates will be prepared to pursue both Chartered Financial Analyst and Financial Risk Management certification. This intensive degree program features the following required courses:

  • Corporate Value Management
  • Financial Reporting and Analysis
  • Financial Technology
  • Stochastic Volatility

Notables

Coursework for this degree is available in two campus locations, depending on whether students enroll part-time or full-time. Part-time students will attend Temple University Center City, located across from Philadelphia’s City Hall. Classes for part-time students are scheduled during the evenings to accommodate the schedules of working professionals. Full-time students will attend daytime, weekday courses on Temple University’s Main Campus. Students who attend full-time will earn their degree in 22 months, while part-time students will take about three years.

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