The best risk management graduate programs train individuals for analytical roles that identify and rate risk according to threat levels. Professionals working in risk management, or considering a career change in the field, may want to look past a bachelor’s degree. Getting a bachelor’s degree in risk management helps you start your career and earn the salary of your dreams. As a result, you may feel that your career trajectory is solid with your current education.
A master’s degree in risk management can enhance your career and income much more than a bachelor’s. Entering the workforce instead returning to school seems reasonable since on-campus classes take a lot of time. But, online risk management master’s programs offer the opportunity to earn a master’s degree in a flexible format. The degree is respected by employers and gives you an edge over other candidates when finding gainful employment.
- How We Ranked the Best Risk Management Master’s Programs
- 1. University of Washington
- 2. Georgetown University
- 3. Columbia University
- 4. Texas A&M University
- 5. Indiana University
- 6. University of South Florida
- 7. CUNY Queens College
- 8. Florida State University
- 9. University of Colorado
- 10. Boston University
- 11. University of Wisconsin Stout
- 12. University of New Hampshire
- 13. New York University
- 14. St John’s University
- 15. Butler University
- 16. Seattle University
- 17. Loyola University Chicago
- 18. Concordia University Wisconsin
- 19. Utica College
- 20. Mercyhurst University
- 21. Baker College
- 22. Cambridge College
- 23. Drake University
- 24. Concordia University Ann Arbor
- 25. Notre Dame of Maryland University
- What is Risk Management?
- What are the Types of Master’s Degrees in Risk Management?
- What Can You Do with a Master’s Degree in Risk Management?
- Why Should I Get My Master’s in Risk Management Online?
- Is a Master’s in Risk Management Worth It?
- Is Risk Management a Good Career?
- Is Risk Management a Stressful Job?
- How Much Can You Make with a Master’s Degree in Risk Management?
How We Ranked the Best Risk Management Master’s Programs
SDH put together an authoritative list of the best online master’s in risk management. The Security Degree Hub editors sought accredited, legitimate colleges and universities offering online and hybrid risk management specializations. The ranking is based on factors that indicate value for a prospective student, including cost, graduate salaries, and student reviews. We used data from Niche, IPEDS, and also College Scorecard.
60
Hours
90
Schools
1. University of Washington
The Department of Applied Mathematics at the University of Washington offers a Master of Science (MS) in Computational Finance and Risk Management (CFRM). It is one of the best master’s in risk management risk programs in the nation. Most online students complete UW’s online risk management program as part-time students, taking one class each semester. This graduate degree allows working learners the flexibility to schedule around work and family commitments.
The University of Washington (UW) started in 1861. Today, the school operates several campuses in the greater Seattle area, including Bothell and Tacoma. The school’s Puget Sound location covers more than 650 acres and serves about 45,700 students. The library system at U Wash is one of the most extensive systems with more than 25 libraries.
Degree: MS in Computational Finance and Risk Management
2. Georgetown University
The Master of Professional Studies (MPS) in Cybersecurity Risk Management at Georgetown University is available completely online. This master’s in risk management require degree candidates to complete 33 credit units as part-time or full-time students. Most students complete the program in two to five years. The curriculum for Georgetown’s graduate risk management program is from the National Institute of Standards & Technology (NIST). Coursework includes information security, security design, regulatory compliance, disruptive technology, and information assurance, to name a few.
Georgetown University started s Georgetown College in 1789. The school’s campus is on the Potomac River and covers 100+ acres. GU serves more than 7,500 undergraduate students and 11,500 graduate students, for a total of more than 18,000 students. Students attending Georgetown University hail from more than 125 countries across the globe.
Degree: MPS in Cybersecurity Risk Management Online
3. Columbia University
The MS in Enterprise Risk Management (ERM) at Columbia University is among the best risk management master’s programs in New York and across the country. Coursework for Columbia University’s graduate degree includes indemnity, strategy, operations, risk mitigation, and also finance. Full-time students complete this online graduate degree at risk in three semesters, while part-time students complete the degree in six semesters, both concluding with a capstone project.
Columbia University started as King’s College in 1754 and is the oldest of all universities in the Empire State of New York. In addition, it is one of the country’s colonial colleges. This ivy league university in the Morningside Heights section of New York City is home to more than 33,300 students. Five of America’s Founding Fathers, including three presidents, are alumni of Columbia University.
Degree: MS in Enterprise Risk Management
4. Texas A&M University
The School of Law at Texas A&M University has two of the best risk management master’s programs in Texas and in the nation. Both the LLM and the Master of Laws or the Master of Jurisprudence (MJ) degree in Risk Management are online. The difference between these graduate risk degree programs is that applicants for the LLM degree must already hold a law degree. Whereas non-lawyers can complete the MJ degree program.
Texas A&M University formed under the Morrill Land Grant Act in 1871. The school’s main campus is one of the largest in the nation and serves more than 69,600 students. In addition, the school is the only institution of higher education in Texas that holds all three certifications as a sea-grant, land-grant, and space-grant school.
Degree: LLM or MJ in Risk Management
5. Indiana University
The online MS in Risk Management at Indiana University integrates coursework from the School of law, the School of Informatics and Engineering, and the School of Business. These best risk management master’s programs from Indiana University offer three academic focus areas in law emphasis, a business emphasis, and a technology emphasis. Graduate level courses include cybersecurity law, information privacy, IT risk management, and network security systems, plus a capstone project and a technology boot camp.
Indiana University opened in 1920. Today, IU’s student enrollment is one of the largest in the state and country. The school has more than 45,000 students attending classes in Bloomington and another 65,000 students studying at the university’s other eight facilities and online. In fact, the total budget for the nine academic centers at Indiana University exceeds $3 billion.
Degree: MS in Cybersecurity Risk Management
6. University of South Florida
The University of South Florida offers an online MS in Compliance, Risk Management & Anti‐Money Laundering that requires no campus visits. USF’s best risk management master’s programs require students to complete specific coursework in legal compliance & risk mitigation, forensic accounting, auditing, database management, and decision processes during disaster recovery, to name a few. Additionally, students must complete a capstone project in cybersecurity and compliance to meet program requirements.
The University of South Florida started as a space-grant university in 1956. AS the 4th largest university in the sunshine State, USF serves more than 50,000 students across its trio of Floridian campuses in St Petersburg, Sarasota, and Tampa. USF has the tenth most patents of any school across the globe.
Degree: MS in Compliance, Risk Management & Anti‐Money Laundering
7. CUNY Queens College
CUNY Queens College offers a hybrid MS in Risk Management that is among the best risk management master’s programs available online. Students enrolled in CUNY Queens College’s graduate risk management program can select from three academic concentrations – the dynamic financial analysis concentration, the accounting concentration, and the finance concentration. Students attend the graduate online risk management program as both full-time and part-time students. The school offers interested students an opportunity to sit in a class to gain some experiential learning of the classes at Queens College.
CUNY Queens College opened in 1937 and is in the east of Manhattan in the borough of Queens. CUNY Queens College operates under the auspices of the City University of New York and serves nearly 18,600 students on its 60+ acres in urban Kew Gardens. The site of Queens College is an early schoolhouse where Walt Whitman was once employed.
Degree: MS in Risk Management
8. Florida State University
The online MS in Risk Management and Insurance (MS – RMI) at Florida State University is among the best risk management master’s programs available. Coursework for FSU’s graduate risk management program includes liability contract analysis, data analytics in risk management, insurance finance, personal and business planning, and alternative risk financing, to name a few. Additionally, students can opt to earn a dual degree (BS/MS) in an accelerated path in five years.
Florida State University is a sea-grant and space-grant public university that opened in 1851. The university’s campus in the state’s capital serves more than 41,300 students. Student-athletes compete as Seminoles. The Seminoles have won many national NCAA titles. The school is home to the Ringling Museum of Art, dedicated to the circus’s art.
Degree: MS in Risk Management and Insurance
9. University of Colorado
The University of Colorado Boulder offers an online MS in Finance and Risk Management is one of the best risk management master’s programs available in Colorado. UC Boulder’s graduate degree in risk management is available to part-time and full-time students as they complete the required 30 credit units. Students practice commodity and stock trading in a simulation lab and introduction to databases like Morningstar and CQG. Special topics include preparation to sit for the CFA 0 the Chartered Financial Analyst examination.
The University of Colorado is a space-grant institution of higher learning that started in 1876. UC Boulder has a long-standing connection to the nation’s space program, with twenty astronauts affiliated with the University of Colorado at Boulder. The school chartered months before the state was admitted to the union.
Degree: MS in Finance and Risk Management
10. Boston University
The MS in Enterprise Risk Management (MSERM) at Boston University requires 40-semester units with ten dedicated risk management classes. Most students complete the BU program in 1.5 to 2 years. Additionally, the Boston University graduate program in risk management has accreditation from the AACSB.
Boston University opened in 1839. Today, the school operates as a nonsectarian institution of higher education and is one of the city’s largest employers. Furthermore, the school operates two campuses. One is along the Charles River across from MIT and next to Fenway Park! The other is the medical campus in the city’s South End section.
Degree: MS in Enterprise Risk Management
11. University of Wisconsin Stout
The University of Wisconsin Stout offers an MS in Risk Control and Safety Management that is available 100% online. This risk management master’s program requires degree candidates to finish 29 credit units to meet program guidelines. Coursework includes applied research and technical classes in hazard management, toxicological effects, emergency preparedness, fire protection, and occupational safety, to name a few. Foundational classes include loss control, risk control, and environmental leadership.
The University of Wisconsin Stout opened in 1891. Stout’s 120+acre rural campus is home to more than 9,300 students. In addition, the school is one of only two special mission schools in Wisconsin that focus on education for working learners and professional career seekers. The school is named for James Stout, the lumber magnate who founded the University of Wisconsin.
Degree: MS in Risk Control and Safety Management
12. University of New Hampshire
The University of New Hampshire offers an online MS in Cybersecurity Policy and Risk Management (CPRM) that is considered one of New England’s best risk management master’s programs. The University of New Hampshire’s graduate degree program in risk management can be completed in about one year, with 30-semester units required by the graduate degree criteria. Students graduate to find rewarding careers as cyber risk managers, strategy planners, security architects, and also risk analysts.
The University of New Hampshire (UNH) was chartered in 1866 under the Morrill Land Grant Act. UNH was originally connected to Dartmouth College. UNH’s rural campus covers more than 2,500 acres and serves more than 15,000 students vying for degrees provided by the six colleges/schools that comprise UNH. The University of New Hampshire is the state’s flagship institution of higher education, plus a space-grant and sea-grant school.
Degree: MS in Cybersecurity Policy and Risk Management
13. New York University
The Stern School of Business at NYU offers an MS in Risk Management (MSRM) that is ranked among the top and best risk management master’s programs in New York and in the United States. NYU’s MS in Risk Management is generally completed in twelve months with the executive program offering rotating global learning opportunities and a hybrid delivery*. Degree candidates average typically about 18-20 hours of distance learning work on a weekly basis. It is noted that many NYU capstone projects are published in professional journals and magazines.
New York University was established in 1831 that operates campuses throughout the world. More than 51,000 students attend classes online and on-campus in the school’s iconic Greenwich Village campus location in lower Manhattan sandwiched between midtown and the financial districts. Researchers at New York University established the American Chemical Society.
Degree: hybrid MS in Risk Management
14. St John’s University
St John’s University’s Greenberg School of Risk Management, Insurance, and Actuarial Science offers an online Master of Business Administration (MBA) with an emphasis on Risk Management. SJU’s graduate risk management ranks as one of the best risk management master’s programs in New York and the US east coast. This 36-credit unit MBA degree program specialty includes classes like risk management, global management, business analytics, game theory, marketing decisions, and industrial economics, plus a 3-credit capstone project prior to graduation.
St John’s University (JSU) was established in 1870 in the adjoining borough of Brooklyn in the service of underprivileged children in nearby communities. The university is administered by the Vincentian Fathers Catholic church. More than 21,000 students attend classes on St John’s University’s campuses in NYC’s other boroughs and in Italy. St John’s University’s mission is to correct social injustices in the world.
Degree: MBA in Risk Management
15. Butler University
The Lacy School of Business at Butler University offers a Master of Science degree program in Risk and Insurance (MSRI). Students can earn the degree entirely online over approximately 24 months. This risk management master’s programs include coursework like fundamentals of insurance risk, leadership, risk financing, data mining, and also a capstone project. Students graduate prepared for careers as senior executives in larges corporations and the federal government.
Butler University was established in 1855. The school’s campus is situated only a few miles from Indianapolis’ downtown. The university’s two campuses, Irvington and Fairview, are home to more than 5,000 students and cover nearly 300 urban acres. In addition, the architect Minoru Yamasaki who designed the World Trade Center (WTC) also designed the school’s library.
Degree: MS in Risk and Insurance
16. Seattle University
Seattle University’s School of Law offers a Compliance and Risk Management Master of Legal Studies (MLS) degree program that is available entirely online. Coursework for Seattle University’s best risk management master’s programs can be completed within two years as full-time students over three semesters that last 14-week terms. The MLS degree program (Master of Legal Studies) degree program from Seattle University offers recording lectures and live classroom sessions by synchronously or asynchronously. The Seattle School of Law manages several justice centers for Indian law and the Korematsu Center.
Degree: MLS in Compliance and Risk Management
17. Loyola University Chicago
Loyola University Chicago’s School of Law offers a Compliance and Enterprise Risk Management Master of Jurisprudence (MJ) degree program that is delivered through the university’s distance learning arm. LUC’s best risk management master’s programs are some of the few programs that have received accreditation from the compliance certification board. Coursework for the 24 credit units over six semesters (totaling two years including both summers) includes legal study, legal research, risk management, and corporate compliance, plus a master’s thesis project dedicated to risk management and compliance.
The Loyola University of Chicago was established in 1870. This private Jesuit institution of higher learning is considered among the largest of all Catholic schools in the nation. The school’s six urban campuses across the Chicago metropolitan area serve more than 17,000 students. Alumni from LUC are winners of Pulitzer, Peabody, Emmy, and Grammy awards.
Degree: MJ in Compliance and Enterprise Risk Management
18. Concordia University Wisconsin
Concordia University, Wisconsin offers an MBA in Risk Assessment & Management degree program that is available entirely through the school’s distance learning extension. This financial risk management master’s programs require degree candidates to complete 36 credit units in classes like managerial economics, corporate finance, management science, loss prevention, corporate risk management, intellectual property and regulatory issues, strategic management, fraud management, and legal aspects, to name a few. Degree candidates are also required to participate in an internship within the Master of Business Administration (MBA) curriculum requirements.
Concordia University Wisconsin started in 1881 and is a member school of the Lutheran Church. The university’s campus in Mequon serves more than 7,600 students. In addition, it offers one of the only three pharmacy programs in the state of Wisconsin.
Degree: MBA in Risk Assessment Management
19. Utica College
Utica College offers a Master of Professional Studies (MPS) in Cyber Policy and Risk Management program that is available 100% online. Coursework for Utica College’s 30 credit unit best risk management masters programs includes cyberspace, cyber ethics, complex organizations, risk management, legal foundations for privacy and information, and international relations, to name a few. Degree candidates finish the graduate risk management degree program, on average, in two years. Students graduate to find rewarding careers as overwatch officers, cyber policy analysts, cyber fraud investigation experts, compliance officers, and incident managers.
Utica College was established in 1946 as an educational outreach program at nearby Syracuse University. The school is recognized as a center of excellence in the education of cyber-defense. Utica College holds the distinction of offering the first graduate-level degree in the management of economic crime.
Degree: MPS in Cyber Policy and Risk Management
20. Mercyhurst University
Mercyhurst University offers an online MS in Cyber Risk Management that is recognized among the best risk management master’s programs in Pennsylvania and beyond. Degree candidates enrolled in Mercyhurst University’s graduate risk management degree program must complete 26-semester credits, which can be completed in a minimum of two years of study. Coursework for Mercyhurst University’s risk management degree includes enterprise risk management, cyber law, cyber risk, probability & statistics, and accounting for insurance experts, plus a research project. Graduates find careers in the areas of risk management, banking, finance, insurance, and the government sector, among others.
The Sisters of Mercy started Mercyhurst University in 1926. The university has four schools and colleges that serve more than 4,000 students. Classes are available online and also on the school’s 70-acre campus in western Pennsylvania.
Degree: MS in Cyber Risk Management
21. Baker College
Baker College offers an MBA in Cloud Security Risk Management that is available online 100%. Students enrolled in the risk management degree program may apply for an accelerated curriculum track, savings many months of study for those who are eligible. Degree candidates must complete 39 credit hours in cloud security, risk management, vulnerability management, human behavior in organizations, cloud policy, and also statistics for managers.
Baker College started as a junior business college in 1911. The college operates several other satellite academic centers throughout Michigan’s lower peninsula. Baker’s urban campus covers more than 50 acres and serves more than 34,000 students. In addition, it is home to the Midwest Culinary Institute of Michigan.
Degree: MBA in Cloud Security Risk Management
22. Cambridge College
Cambridge College offers an online MS in Risk Management and Insurance that is considered one of the best risk management master’s programs in New England and Massachusetts. Students must complete coursework to complete 30 credit units choosing from classes like risk management, financial markets, applied quantitative methods, health insurance, property risk assessment, retirement planning, plus a risk management and insurance capstone culminating project. Cambridge’s online learning platform has awards and accolades for its innovation and accessibility. In addition, the school offers rolling admission dates throughout the year.
Cambridge College opened in 1971. The college’s curriculum focuses on health care management, human services, psychology, education, and also counseling. The school operates two campuses in western and eastern Massachusetts and another in California. In addition, it is a member school of the servicemembers Opportunity Colleges consortium.
Degree: MS in Risk Management and Insurance
23. Drake University
Drake University offers a Master of Jurisprudence (MJ) degree with an emphasis on Compliance and Enterprise Risk Management that is available 100% online. These best risk management master’s programs from Drake University include 24 hours of coursework, of which 18 credit hours include core curriculum like risk management and compliance, conflict resolution, intro to law and risk management, business organizations, and the regulator process, to name a few. Degree candidates enrolled in Drake University’s graduate risk management degree finish, on average, in eighteen months.
Drake University was established in 1881. Drake’s urban campus in Des Moines covers more than 100 acres and serves more than 5,000 students by providing academic degrees in law, pharmacy, and business. The law school at Drake University holds the distinction of being among the oldest in the nation.
Degree: MJ in Compliance and Risk Management
24. Concordia University Ann Arbor
Concordia University Ann Arbor offers an online MBA in Risk Assessment Management that prepares students to help manage internal business risks and financial potholes in what is often an unpredictable economy. This faith-based graduate program in financial risk management requires students to complete 36 credit hours. Students graduating from CUAA’s best risk management master’s programs enter the job market as insurance underwriters, financial analysts, and credit analysts, to name a few.
Concordia University Ann Arbor was established in 1963 and is a member school of the more extensive country-wide Concordia University system. More than 1,000 students attend CUAA’s campus, which is designed in mid-century modern by famed architect Vincent Kling, in Ann Arbor vying for more than 65 academic degrees. Concordia University Ann Arbor boasts a student-faculty ratio of only 11 to 1.
Degree: MBA in Risk Assessment Management
25. Notre Dame of Maryland University
Notre Dame of Maryland University offers an online MS in Risk Management that is recognized as one of the best risk management master’s programs, especially for veterans. Degree candidates must complete 30-semester units in classes like risk assessment, adaptive leadership, risk governance, ethics, uncertainty, and quantitative risk assessment, to name a few. Students who graduate from Notre Dame of Maryland University’s graduate degree in risk management are prepared for careers in the private sector, the government sector, or even internationally. It is noted that Notre Dame of Maryland University is the training preference for the US Army Corps of Engineers.
Notre Dame of Maryland University was established originally as a prep school in 1873. The School Sisters of Notre Dame, a Roman Catholic Church denomination, administer the school’s curriculum and programs. Nearly 3,000 students attend classes on the university’s Baltimore campus. Notre Dame of Maryland University provides a college dedicated to only women.
Degree: MS in Risk Management
What is Risk Management?
Risk management is the process of identifying, assessing, and mitigating potential risks or threats that can negatively impact an organization, project, or activity. It involves analyzing identifying potential threats and risks, determining their likelihood and impact, and implementing strategies to minimize their effects. This can include measures such as risk avoidance, risk reduction, risk sharing, and risk transfer.
The goal of risk management is to proactively address potential hazards and prevent any negative consequences from occurring. It is an essential aspect of business and project management, as it helps organizations make informed decisions and ensure the success of their endeavors.
What are the Types of Master’s Degrees in Risk Management?
Master of Science (M.S.) in Risk Management
A Master of Science in Risk Management is a specialized degree that focuses on the theories and techniques of risk management in various industries, such as finance, insurance, and healthcare. Students in this program learn how to identify, assess, and mitigate potential risks in both small and large organizations. Courses may include topics such as financial risk management, enterprise risk management, and risk analysis and decision making.
Master of Business Administration (MBA) in Risk Management
An MBA in Risk Management is a highly sought after degree that combines core business principles with risk management concepts. This degree is suitable for individuals who are looking to advance in their careers in the business world, especially those in financial institutions like banks and investment firms. Students in this program learn how to identify, measure, and manage risk in a rapidly changing business environment.
Master of Arts (M.A.) in Risk Management
A Master of Arts in Risk Management is a more theoretical degree that focuses on the social, political, and economic factors that contribute to risk in organizations. This degree is suitable for students interested in pursuing careers in public policy, government, or international relations. Courses may include topics such as risk governance, crisis management, and risk communication.
What Can You Do with a Master’s Degree in Risk Management?
Careers in risk management involve managing business plans and making sure the organization is staying on track according to its internal plans, keeping a business in compliance with regulations, assessing new and ongoing compliance issues, and even reputation management. Below are some career opportunities.
- Risk Analyst
- Operational Risk Manager
- Client Services Manager
- Claims Adjustment Specialist
- Risk Consultant
Why Should I Get My Master’s in Risk Management Online?
In risk management, you may find jobs in insurance, finance, cybersecurity, Homeland Security, and much more. There are many benefits that come with engaging in an online risk management master’s degree. A master of risk management online program offers flexibility that an on-campus program can’t. Someone who’s working in the risk management field can find themselves working long hours that cut into class time.
However, there’s no need to drive to campus when taking a master of risk management online program. The online risk management master’s degree programs allow you to access classes and materials at your convenience. Students must keep up with the classwork and make sure they meet all of the stated goals for each quarter or semester. However, they are not required to make an extraordinary effort to get to a class on campus by a given time.
Is a Master’s in Risk Management Worth It?
The risk management master’s degree programs typically take two years to complete, but accelerated masters of risk management online courses are available. An accelerated masters in risk management online program is going to demand more of your time and attention than a standard two-year degree. However, it’s an option for those who want to finish their schooling quickly and get into the field of risk management in less time. Always make sure to check that a risk management masters degree program has accreditation from a reputable organization so employers will accept the degree.
Is Risk Management a Good Career?
Risk management is a very good career that offers the ability to specialize in a particular sector, work as a generalist, or even work in fields related to risk management. In fact, the BLS is predicting job growth for the industry to be greater than the national average. The main source of careers in risk management is the financial and insurance industries, but many other industries seek out risk managers to protect their organizations from a variety of threats and compliance issues.
Is Risk Management a Stressful Job?
A career in risk management has the potential to be a rewarding one, especially for those who like problem-solving and helping others do better. You have to be comfortable with managing people in an organization along with enforcing rules that you create and expect people to abide by.
Risk management careers can be stressful due to their multifaceted nature that has an individual doing everything from research to writing, then disseminating the writing to an organization and making sure people follow the rules. Many organizations recognize the amount of work a risk manager role requires and compensate accordingly.
How Much Can You Make with a Master’s Degree in Risk Management?
Salaries in risk management range anywhere from $79,050 for entry-level managers and average $139,790 per year. However, they reach as high as $239,200 for those in specialized roles or who bring a lot of experience to their position.
The salary for risk management varies depending on the experience a candidate brings to the job, the demand for a risk manager in any given part of the country, and the local cost of living. In addition, areas with a higher cost of living typically pay more, even at the entry-level, in order to attract qualified candidates. These are all considerations you should keep in mind when looking at salaries in risk management and how much you’re expecting to earn.
Related:
- 20 Best Online Master’s in Cybersecurity
- Top 10 Cybersecurity MBA Programs
- 25 Campus Master’s in Security Studies Programs
- Top 25 Online Security Master’s Degree Programs
