Risk Management is a high-demand field   - GRM Institute

Risk Management is a high-demand field

Risk Management is a high-demand field  

Risk has always existed in the business world. But with globalization and an increasingly complex regulatory landscape, the stakes are higher than ever before. Due to this, the risk management job market is growing with the demand of more and more risk professionals in more and more firms. Risk managers and compliance experts without a doubt play a significant role in business success, either by helping the firm steer clear of the threats or by identifying opportunities.Demand for Risk Professionals The COVID-19 pandemic has brought attention to the critical role risk managers play in achieving business goals, which has led to firms looking for qualified risk management experts to assist them in navigating through any such crisis. 

Risk Management market predictions. 

The worldwide risk analytics market is expected to increase at a CAGR of 14% by 2022, according to Mordor Intelligence. By 2026, the worldwide value of this sector alone is anticipated to be Rs. 3,89,902 crores ($52.33 billion). Risk management best practices, such as delegating risk owners and risk officers, will be followed by 50% of all asset-intensive organizations in India.
Risk management is currently one of the most valuable industries around the globe. For both new and experienced finance professionals, it is one of the most lucrative employment possibilities. Upskilling with professional risk management courses or certifications is an incredible strategy to break into the industry. 

How Well Does a Career in Risk Management Pay in India? 

 Risk managers are valuable to their organizations and thus are paid accordingly. According to Glassdoor, skilled risk management professionals can manage to earn salaries up to ₹ 8,17,252 per year in India. Strategic risk, operational risk, compliance risk, financial risk, market risk, credit risk, reputational risk, and even health hazards are all covered under this. As a result, individuals in this field require a holistic approach to organizational hazards, which is why risk management specialists are so well compensated.
According to Recruiter.com, it is recorded that there has been an average growth of 1.31% in the risk management job market in India, which will result in approximately 50,000 new risk management jobs by the year 2029. Opting for this career is great for professionals who wish to gain consistent growth in their careers.
The current job market for risk professionals has seen an increase as compared to the pre- pandemic phase. With 29,000+ available jobs on LinkedIn, 15,685 available jobs on Shine.com, 14,155 jobs available on indeed.com currently etc. 

Salaries of Risk Managers 

Risk managers earn an average of ₹1,005,456/ year. Candidates who are either freshers or have been working for a year can expect an average salary up to ₹6,34,025 per annum. Meanwhile, Risk managers with work experience of 1 to 4 years can expect an average salary of ₹8,01,764 per annum, one can expect constant growth in this particular field based on the overall work experience. 

References 

https://www.payscale.com/research/IN/Job=Risk_Manager/Salary
https://herovired.com/how-well-does-a-career-in-risk-management-pay-in-india/
https://economictimes.indiatimes.com/jobs/six-in-10-employees-believe-covid-19-pandemic-has-impacted-reskilling-upskilling-strategies-survey/articleshow/90514928.cms
https://www.mordorintelligence.com/industry-reports/risk-analytics-market
https://www.capita.com/sites/g/files/nginej291/files/2020-08/Ponemon-Global-Cost-of-Data-Breach-Study-2020.pdf 

Please refer to this article to learn more:

Why do we study Risk Management?

Design and Developed by KodeForest @ All Rights Reserved by KodeForest

Pages