An online risk management degree teaches students some of the basic financial principles and specialized concepts in insurance, and risk management. They gain thorough knowledge of statistics, finance, and management. Some programs also allow students to specialize in a particular area as well.
What Is Risk Management?
This is a field that allows students to learn about identifying, prioritizing, and minimizing risks in the business world. The area of risks may differ from an organization to organization; however, the uncertainty it brings needs good management in all cases. Students get to take various courses in an online risk management degree, but they may vary with the program. However, some core courses like insurance law, macroeconomics, and insurance company operations are integral to the degree.
Students who want to pursue an online degree in risk management can go for a bachelor’s or a master’s program. Several colleges also offer certification options.
What Do You Do with A Risk Management Degree?
Getting a degree in risk management helps candidates learn about the economy and factors that affect it. They can work in fields like financial management, analysis, insurance, and asset protection, etc. Students usually pursue a field they are interested in, for example, people who like to socialize could be insurance sales agent as the nature of the job requires direct contact with customers.
Below are some career options available to people who have a degree in risk management.
Insurance Sales Agents
These professionals sell different types of insurances. They call potential clients and help them choose the most suitable plan. They also respond to the queries of their clients.
|Annual Median Salary, 2019||$50,940|
|Job Outlook, 2018-2028||10%|
|Annual Mean Salary, 2019||$67,780|
|State with the Highest Employment Level, 2019||California||41,900|
|State with the Highest Salary, 2019||Massachusetts||$86,330|
Financial examiners make sure that the organization is complying with the laws that govern financial firms and transactions. They work in risk assessment and examine the financial condition of an organization. They make sure that financial institutions, like banks, offer safe loans and they have additional money in case of an unforeseen event.
|Annual Median Salary, 2019||$81,090|
|Job Outlook, 2018-2028||7%|
|Annual Mean Salary, 2019||$92,330|
|State with the Highest Employment Level, 2019||New York||11,310|
|State with the Highest Salary, 2019||District of Columbia||$163,460|
These professionals analyze the potential cost of a financial risk. They use statistics, mathematics, various formulas, and theories to analyze uncertainty and risk. They facilitate different businesses in developing policies that lessen the cost of risk.
|Annual Median Salary, 2019||$108,350|
|Job Outlook, 2018-2028||20%|
|Annual Mean Salary, 2019||$120,970|
|State with the Highest Employment Level, 2019||New York||2,330|
|State with the Highest Salary, 2019||New York||$152,920|
What to Expect from An Online Risk Management Degree?
An online risk management degree focuses on concepts of risk management and their application. Students learn about the role that insurance plays in risk management, the process of risk management review, and regulation of the insurance industry, etc. Some of the courses studied during this program include property and liability insurance, life and health insurance, managing personal risks, and risk management applications. In an online program, the lecture is uploaded in the form of notes or videos. Students have access to their teachers and peers through online platforms.
They may be required to complete coursework, pass an exam, or do an internship to obtain their degree.
How to Pick an Online Risk Management Degree?
This degree is offered by various colleges and universities across the country. These are some of the things you should consider before choosing a program:
- Choose an accredited program
- Check if there are scholarships available
- Consider the total time and cost needed to finish the degree
- Check if your desired specialization is available or not
Online Risk Management Degree Admission Requirements
To pursue an online degree in risk management students generally have to have a high school diploma or a GED.