Average Risk Analyst Salary in Brazil for 2024

In this article, we will look at the average Risk Analyst salary for 2024 in Brazil and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Brazilian real. To keep things simple, we are using the BRL currency code instead of the currency symbol R$.

How Much Does a Risk Analyst Make in Brazil?

A Risk Analyst working in Brazil will typically earn around 114,820 BRL per year, and this can range from the lowest average salary of about 53,600 BRL to the highest average salary of 180,500 BRL.

Average Annual Salary
114,820 BRL
Average Monthly Salary
9,568 BRL

Lowest Annual Salary
53,600 BRL
Lowest Monthly Salary
4,466 BRL

Highest Annual Salary
180,500 BRL
Highest Monthly Salary
15,041 BRL

These are average salaries for a Risk Analyst in Brazil and include benefits such as housing and transport. It's also possible for a Risk Analyst to earn more or less than the average salaries shown above.

Risk Analyst salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Risk Analyst Salaries in Brazil

So we've looked at the average salaries a Risk Analyst will earn in Brazil. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Risk Analyst can earn between 53,600 BRL and 180,500 BRL on average in Brazil. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Risk Analyst in Brazil is 123,400 BRL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 123,400 BRL, and 50% of the population earn more than 123,400 BRL.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Risk Analyst salary in Brazil, 25% of the population are earning less than 77,100 BRL while 75% of the population earn more than 77,100 BRL.

75% of the population earn less than 161,600 BRL, and 25% of the population earn more than 161,600 BRL.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Risk Analyst Salary by Experience Level in Brazil

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average risk analyst salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Risk Analyst in Brazil that has less than two years of experience can expect to earn somewhere in the region of 58,280 BRL.
  • 2 - 5 Years Experience. With two to five years of experience the average Risk Analyst salary would increase to 78,480 BRL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Risk Analyst, the average salary would be 115,600 BRL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 143,200 BRL.
  • 15 - 20 Years Experience. A Risk Analyst with 15 to 20 years of experience can earn an average of 157,600 BRL.
  • 20+ Years Experience. For a Risk Analyst with more than 20 years, the expected average salary increases to 167,100 BRL.

Average Salary by Experience Chart

0-2 Years
58,280 BRL
2-5 Years +34%
78,480 BRL
5-10 Years +48%
115,600 BRL
10-15 Years +22%
143,200 BRL
15-20 Years +9%
157,600 BRL
20+ Years +8%
167,100 BRL

Risk Analyst Salary by Education Level in Brazil

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Risk Analyst in Brazil based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Risk Analyst in Brazil with a bachelor's degree education can earn an average salary of 69,580 BRL.

  • Master's Degree. A Risk Analyst in Brazil with a master's degree education can earn an average salary of 134,600 BRL.

Average Salary by Education Chart

Bachelor's Degree
69,580 BRL
Master's Degree +93%
134,600 BRL

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Brazil is around 42,800 to 128,000 BRL and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Risk Analyst Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Brazil, a male risk analyst will earn an average of 119,900 BRL, while a female risk analyst will earn around 106,740 BRL.

This means that a male risk analyst earns approximately 12% more than a female risk analyst for performing the same job.

Average Salary by Gender Chart in Brazil

Male
119,900 BRL
Female -12%
106,740 BRL

Risk Analyst Average Pay Raise in Brazil

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Risk Analyst in Brazil is around 12% every 17 months.

The national average pay raise across all professions and industries in Brazil is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 17 ) × 12  = 8%

What this means is that a Risk Analyst in Brazil can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Brazil for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Brazil.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Risk Analyst Bonus and Incentive Rates in Brazil

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Risk Analyst is a moderate bonus based job, with 59% of employees reporting at least one bonus in the last 12 months.

41% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 2% to 7%.

Received Bonus
59%
No Bonus
41%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Brazil earn approximately 7% more than private sector employees in the same role.

Public Sector
106,500 BRL
Private Sector -7%
99,460 BRL

Salaries for Jobs Similar to a Risk Analyst

In the table below, we have salary information for jobs that are similar to a Risk Analyst in Brazil.

Job Title Category Salary
Actuarial Analyst Insurance 139,100 BRL
Actuarial Assistant Insurance 99,340 BRL
Actuarial Specialist Insurance 103,260 BRL
Actuary Insurance 138,800 BRL
Adjustment Insurance Clerk Insurance 36,580 BRL
Assistant Broker Insurance 68,060 BRL
Assistant Claims Manager Insurance 115,620 BRL
Associate Insurance Representative Insurance 51,120 BRL
Auditing Insurance Manager Insurance 152,000 BRL
Broker Insurance 100,580 BRL
Claim Advocacy Professional Insurance 104,600 BRL
Claims Adjuster Insurance 40,560 BRL
Claims Analyst Insurance 56,460 BRL
Claims Examiner Insurance 51,120 BRL
Claims Manager Insurance 150,000 BRL
Claims Processor Insurance 41,700 BRL
Claims Representative Insurance 44,720 BRL
Claims Resolution Specialist Insurance 113,840 BRL
Claims Supervisor Insurance 99,340 BRL
Complaints Specialist Insurance 93,100 BRL
Compliance Examiner Insurance 93,600 BRL
Compliance Officer Insurance 86,640 BRL
Compliance Reviewer Insurance 96,680 BRL
Consultant Insurance 99,340 BRL
Eligibility Interviewer Insurance 106,980 BRL
Eligibility Specialist Insurance 105,980 BRL
Insurance Account Manager Insurance 136,100 BRL
Insurance Accounts Executive Insurance 113,840 BRL
Insurance Adjuster Insurance 99,280 BRL
Insurance Agent Insurance 63,700 BRL
Insurance Analyst Insurance 102,960 BRL
Insurance Appraiser Insurance 109,000 BRL
Insurance Claims Clerk Insurance 36,580 BRL
Insurance Examiner Insurance 93,220 BRL
Insurance Investigator Insurance 99,340 BRL
Insurance Manager Insurance 175,900 BRL
Insurance Operations Manager Insurance 185,100 BRL
Insurance Policy Processing Clerk Insurance 41,660 BRL
Insurance Pricing Assistant Insurance 85,440 BRL
Insurance Program Manager Insurance 143,200 BRL
Insurance Project Manager Insurance 125,700 BRL
Insurance Quality Assurance Agent Insurance 91,380 BRL
Insurance Sales Agent Insurance 60,180 BRL
Insurance Sales Director Insurance 172,400 BRL
Insurance Sales Manager Insurance 138,200 BRL
Insurance Sales Representative Insurance 54,700 BRL
Insurance Team Leader Insurance 111,240 BRL
Insurance Underwriter Insurance 77,640 BRL
Loss Control Specialist Insurance 101,840 BRL
Loss Prevention Investigator Insurance 112,460 BRL
Loss Prevention Manager Insurance 146,200 BRL
Loss Prevention Specialist Insurance 111,460 BRL
Marine Underwriter Insurance 73,980 BRL
Medical Auditor Insurance 105,800 BRL
Monitoring and Performance Officer Insurance 73,760 BRL
Payment Services Specialist Insurance 109,000 BRL
Policy Change Director Insurance 157,600 BRL
Policy Change Supervisor Insurance 110,380 BRL
Policy Change Technician Insurance 52,540 BRL
Risk Management Director Insurance 204,700 BRL
Risk Management Supervisor Insurance 136,100 BRL
Risk Manager Insurance 187,300 BRL
Risk Modeling Manager Insurance 191,600 BRL
Title Insurance Typist Insurance 84,560 BRL
Training Manager Insurance 116,180 BRL

Salary Comparison by City

If you want to compare salaries with different cities in Brazil, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Aracaju 112,000 BRL
Belem 124,750 BRL
Belo Horizonte 126,650 BRL
Brasilia 128,700 BRL
Campinas 114,700 BRL
Cuiaba 110,580 BRL
Curitiba 124,450 BRL
Fortaleza 126,900 BRL
Goiania 116,950 BRL
Joao Pessoa 111,130 BRL
Londrina 106,330 BRL
Macapa 107,050 BRL
Maceio 117,820 BRL
Manaus 125,550 BRL
Maringa 100,460 BRL
Natal 116,450 BRL
Petrolina and Juazeiro 103,000 BRL
Porto Alegre 122,500 BRL
Recife 121,980 BRL
Rio de Janeiro 126,050 BRL
Salvador 125,050 BRL
Santos 105,480 BRL
Sao Luis 114,920 BRL
Sao Paulo 131,750 BRL
Teresina 117,330 BRL
Vale do Aco 110,660 BRL
Vitoria 103,420 BRL

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