Risk Analyst Salary in Troy, MI
How much does a risk analyst make in Troy? Explore median, entry-level, and senior salaries adjusted for Troy's cost of living.
Salary Breakdown by Experience Level
See how risk analyst salaries break down across different pay periods in Troy.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $50,937 | $86,201 | $117,548 |
| Monthly | $4,245 | $7,183 | $9,796 |
| Biweekly | $1,959 | $3,315 | $4,521 |
| Weekly | $980 | $1,658 | $2,261 |
| Hourly | $24 | $41 | $57 |
Troy vs National Average
How Troy's risk analyst salaries compare to national figures.
Cost of Living in Troy
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 Troy, MI — Complete Guide
Median Salary Overview
The median salary for a risk analyst in Troy, MI is $86,201 per year, adjusted for the local cost of living index of 102. This figure reflects typical earnings for experienced professionals in this role, considering Troy's unique economic conditions.
Salary Range and Experience Levels
Entry-level risk analyst professionals in Troy can expect to earn around $50,937 annually. As professionals gain experience, salaries typically increase, with senior-level risk analysts earning approximately $117,548 per year. This represents a 131% increase from entry to senior level.
Cost of Living Adjustment
Troy's cost of living index of 102 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Troy 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 Troy typically goes toward housing. With a 1-bedroom apartment averaging $1,200 per month, housing represents about 16.7% 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 Troy, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.