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Insurance and risk management degrees lead to profitable careers
Risk management involves minimizing the chance that a company will be hit with unexpected and unmanageable costs--whether in the form of lawsuits, strikes, problems with foreign governments, or simple employee injuries. Risk managers evaluate the chance of unexpected or even catastrophic expenses and the cost of avoiding it, usually by changing practices (for example, recommending extra safety training) or insuring. If you excel at dealing with numbers, consider career training in the well-paying field of insurance and risk management.
Types of Insurance and Risk Management Jobs
If you work in underwriting, you determine how much risk is taken on to insure an object or person, and how much to charge for a policy. You could be a claims adjuster, visiting the sites of accidents to determine how much should be paid to a policyholder. Or you could work in sales. Brokers sell life, health, or property and casualty coverage to individuals and businesses. Finally, you could work as a corporate risk manager, studying the potential for losses in business operations.
Pay for Insurance and Risk Managers
You need to be a good communicator and very good at statistics and quantifying likely outcomes. A bachelor's college degree at minimum is a must. Online or campus degree programs in risk management can help you qualify.
Insurance underwriters earned a median salary of about $52,000 in 2008; claims adjusters earn about $57,550; and salespeople earned $62,600, according to the Bureau of Labor Statistics.
Risk management involves minimizing the chance that a company will be hit with unexpected and unmanageable costs--whether in the form of lawsuits, strikes, problems with foreign governments, or simple employee injuries. Risk managers evaluate the chance of unexpected or even catastrophic expenses and the cost of avoiding it, usually by changing practices (for example, recommending extra safety training) or insuring. If you excel at dealing with numbers, consider career training in the well-paying field of insurance and risk management.
Types of Insurance and Risk Management Jobs
If you work in underwriting, you determine how much risk is taken on to insure an object or person, and how much to charge for a policy.
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