How to Become a Principal Risk Analyst?

Are you thinking of becoming a Principal Risk Analyst or already started your career and planning the next step? Learn how to become a Principal Risk Analyst, what skills you need to succeed, how to advance your career and get promoted, and what levels of pay to expect at each step on your career path. Explore new Principal Risk Analyst job openings and options for career transitions into related roles.
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Steps to Become a Risk Analyst

If you're considering starting your Risk Analyst career path, it's important to note the skills, qualifications, and time it takes to become a professional Risk Analyst and how to advance your career path. Below are the steps generally required to begin and advance your Risk Analyst career.

Earn a Degree

To begin your Risk Analyst career path, a Bachelor's Degree in information technology or a related field is usually necessary in order to remain a competitive option for employers. Focus on industry-specific skill development during your education in order to be properly equipped when applying for entry-level positions and entering the job force. A Risk Analyst internship may be required to earn your Bachelor's Degree and acquire necessary on-the-job skills before entering the workforce.

Choose a Specialty in Your Field

As an Risk Analyst, you may be required to choose a specialty within your field. Determine which part of the Risk Analyst field you feel strongest in, and continue taking active steps toward growing in your chosen Risk Analyst specialty.

Get an Entry-Level Position as a Risk Analyst

Once you've acquired a Bachelor's Degree in information technology or a related field, you'll typically begin your career as an entry-level Risk Analyst. In general, you can become a Risk Analyst after completing your 4 year Bachelor's Degree in a related discipline. Depending on the type of Risk Analyst role you’re pursuing, you may want to explore certification in cissp.

Advance in Your Risk Analyst Career

Following entry-level, there are several Risk Analyst career path levels to advance into. It can take 2 years as an entry-level Risk Analyst to progress to the senior risk analyst position. Each advanced Risk Analyst position requires approximately 2 years of experience at each level to advance in your Risk Analyst career path. It may be necessary to receive additional education, an advanced degree such as a Master's Degree in a related field, or special certifications in order to advance your Risk Analyst career path.

Continued Education for Your Risk Analyst Career Path

Not all industries and companies require continued education to advance your Risk Analyst career path. However, earning this degree may help you advance to higher-earning positions more quickly. Earning a Graduate Degree in information technology can take 4 years to complete. People that have earned their Graduate Degree typically make $113,607 compared to $49,211 for those without that type of degree.

Principal Risk Analyst Career Path

Lead Risk Analyst

5 - 7Years of Experience
$82K - $134K /yrMost Likely Range
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Principal Risk Analyst

No Years of Experience Reports
$127K - $222K /yrMost Likely Range
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Director of Risk

No Years of Experience Reports
$128K - $218K /yrMost Likely Range
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Total Pay Trajectory

Principal Risk Analyst Career Path

Risk Analyst II
Risk Analyst Manager
Mid-Level Risk Analyst
Senior Manager of Risk
Lead Risk Analyst
Principal Risk Analyst
Director of Risk

Related Careers in the Finance & Accounting Industry

Interested in other Finance & Accounting careers? Below are occupations that have high affinity with Principal Risk Analyst skills. Discover some of the most common Principal Risk Analyst career transitions, along with skills overlap.

Financial Analyst
0% skills overlap
16% transitioned to Financial Analyst