Risk Analyst Salary in Andover, MA
How much does a risk analyst make in Andover? Explore median, entry-level, and senior salaries adjusted for Andover's cost of living.
Salary Breakdown by Experience Level
See how risk analyst salaries break down across different pay periods in Andover.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $86,090 | $145,690 | $198,669 |
| Monthly | $7,174 | $12,141 | $16,556 |
| Biweekly | $3,311 | $5,603 | $7,641 |
| Weekly | $1,656 | $2,802 | $3,821 |
| Hourly | $41 | $70 | $96 |
Andover vs National Average
How Andover's risk analyst salaries compare to national figures.
Cost of Living in Andover
About Risk Analyst
Overview
Identify and analyze potential business risks and mitigation strategies.
Education
Bachelor's degree in Finance, Risk Management, or related field
Key Skills
Growth Rate
Expected job growth: +18% over the next decade
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Risk Analyst Salary in Andover, MA — Complete Guide
Median Salary Overview
The median salary for a risk analyst in Andover, MA is $145,690 per year, adjusted for the local cost of living index of 130. This figure reflects typical earnings for experienced professionals in this role, considering Andover's unique economic conditions.
Salary Range and Experience Levels
Entry-level risk analyst professionals in Andover can expect to earn around $86,090 annually. As professionals gain experience, salaries typically increase, with senior-level risk analysts earning approximately $198,669 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Andover's cost of living index of 130 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Andover are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $91,860, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a risk analyst's salary in Andover typically goes toward housing. With a 1-bedroom apartment averaging $1,750 per month, housing represents about 14.4% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Risk Analysts are in growing demand across the United States, with an expected job growth of 18% over the next decade. In Andover, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.