Risk Analyst Salary in Rapid City, SD
How much does a risk analyst make in Rapid City? Explore median, entry-level, and senior salaries adjusted for Rapid City's cost of living.
Salary Breakdown by Experience Level
See how risk analyst salaries break down across different pay periods in Rapid City.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $46,291 | $78,338 | $106,825 |
| Monthly | $3,858 | $6,528 | $8,902 |
| Biweekly | $1,780 | $3,013 | $4,109 |
| Weekly | $890 | $1,507 | $2,054 |
| Hourly | $22 | $38 | $51 |
Rapid City vs National Average
How Rapid City's risk analyst salaries compare to national figures.
Cost of Living in Rapid City
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 Rapid City, SD — Complete Guide
Median Salary Overview
The median salary for a risk analyst in Rapid City, SD is $78,338 per year, adjusted for the local cost of living index of 104. This figure reflects typical earnings for experienced professionals in this role, considering Rapid City's unique economic conditions.
Salary Range and Experience Levels
Entry-level risk analyst professionals in Rapid City can expect to earn around $46,291 annually. As professionals gain experience, salaries typically increase, with senior-level risk analysts earning approximately $106,825 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Rapid City's cost of living index of 104 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Rapid City 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 Rapid City typically goes toward housing. With a 1-bedroom apartment averaging $1,400 per month, housing represents about 21.4% 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 Rapid City, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.