Average Risk Management Specialist Salary in Chile for 2024

In this article, we will look at the average Risk Management Specialist salary for 2024 in Chile 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 Chilean peso. To keep things simple, we are using the CLP currency code instead of the currency symbol $.

How Much Does a Risk Management Specialist Make in Chile?

A Risk Management Specialist working in Chile will typically earn around 25,200,800 CLP per year, and this can range from the lowest average salary of about 12,600,600 CLP to the highest average salary of 39,119,300 CLP.

Average Annual Salary
25,200,800 CLP
Average Monthly Salary
2,100,066 CLP

Lowest Annual Salary
12,600,600 CLP
Lowest Monthly Salary
1,050,050 CLP

Highest Annual Salary
39,119,300 CLP
Highest Monthly Salary
3,259,941 CLP

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

Risk Management Specialist 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 Management Specialist Salaries in Chile

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

Salary ranges

We already know that a Risk Management Specialist can earn between 12,600,600 CLP and 39,119,300 CLP on average in Chile. 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 Management Specialist in Chile is 25,200,800 CLP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 25,200,800 CLP, and 50% of the population earn more than 25,200,800 CLP.

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 Management Specialist salary in Chile, 25% of the population are earning less than 17,039,100 CLP while 75% of the population earn more than 17,039,100 CLP.

75% of the population earn less than 32,161,000 CLP, and 25% of the population earn more than 32,161,000 CLP.

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 Management Specialist Salary by Experience Level in Chile

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 management specialist 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 Management Specialist in Chile that has less than two years of experience can expect to earn somewhere in the region of 15,118,700 CLP.
  • 2 - 5 Years Experience. With two to five years of experience the average Risk Management Specialist salary would increase to 20,038,100 CLP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Risk Management Specialist, the average salary would be 26,759,500 CLP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 31,919,300 CLP.
  • 15 - 20 Years Experience. A Risk Management Specialist with 15 to 20 years of experience can earn an average of 34,441,600 CLP.
  • 20+ Years Experience. For a Risk Management Specialist with more than 20 years, the expected average salary increases to 36,960,300 CLP.

Average Salary by Experience Chart

0-2 Years
15,118,700 CLP
2-5 Years +32%
20,038,100 CLP
5-10 Years +34%
26,759,500 CLP
10-15 Years +19%
31,919,300 CLP
15-20 Years +8%
34,441,600 CLP
20+ Years +7%
36,960,300 CLP

Risk Management Specialist Salary by Education Level in Chile

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 Management Specialist in Chile 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 Management Specialist in Chile with a bachelor's degree education can earn an average salary of 21,599,000 CLP.

  • Master's Degree. A Risk Management Specialist in Chile with a master's degree education can earn an average salary of 34,078,800 CLP.

Average Salary by Education Chart

Bachelor's Degree
21,599,000 CLP
Master's Degree +58%
34,078,800 CLP

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 Chile is around 9,340,000 to 28,000,000 CLP 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 Management Specialist 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 Chile, a male risk management specialist will earn an average of 25,801,200 CLP, while a female risk management specialist will earn around 24,599,500 CLP.

This means that a male risk management specialist earns approximately 5% more than a female risk management specialist for performing the same job.

Average Salary by Gender Chart in Chile

Male
25,801,200 CLP
Female -5%
24,599,500 CLP

Risk Management Specialist Average Pay Raise in Chile

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 Management Specialist in Chile is around 12% every 18 months.

The national average pay raise across all professions and industries in Chile is around 7% every 19 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 ÷ 18 ) × 12  = 8%

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

Annual Pay Raise by Industry in Chile for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Risk Management Specialist Bonus and Incentive Rates in Chile

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 Management Specialist is a high bonus based job, with 79% of employees reporting at least one bonus in the last 12 months.

21% 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 5% to 8%.

Received Bonus
79%
No Bonus
21%

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

Public Sector
23,399,000 CLP
Private Sector -7%
21,841,900 CLP

Salaries for Jobs Similar to a Risk Management Specialist

In the table below, we have salary information for jobs that are similar to a Risk Management Specialist in Chile.

Job Title Category Salary
Assistant Business Development Manager Business Planning 30,240,200 CLP
Assistant Merchandise Planner Business Planning 17,879,000 CLP
Business Advisor Business Planning 29,399,100 CLP
Business Analyst Business Planning 27,361,200 CLP
Business Consultant Business Planning 27,841,200 CLP
Business Continuity Associate Business Planning 16,320,700 CLP
Business Developer Business Planning 17,640,500 CLP
Business Development Analyst Business Planning 20,038,100 CLP
Business Development Associate Business Planning 14,038,300 CLP
Business Development Coordinator Business Planning 15,838,200 CLP
Business Development Director Business Planning 40,559,300 CLP
Business Development Engineer Business Planning 21,361,700 CLP
Business Development Executive Business Planning 29,161,000 CLP
Business Development Manager Business Planning 33,721,200 CLP
Business Development Specialist Business Planning 26,399,200 CLP
Business Manager Business Planning 32,038,500 CLP
Business Operations Specialist Business Planning 27,241,100 CLP
Business Process Writer Business Planning 15,838,200 CLP
Business Systems Analyst Business Planning 26,639,300 CLP
Capacity Planner Business Planning 19,678,200 CLP
Capacity Planning Supervisor Business Planning 24,841,800 CLP
Change Communications Analyst Business Planning 25,919,400 CLP
Change Control Analyst Business Planning 24,958,800 CLP
Change Impact Analyst Business Planning 26,399,200 CLP
Contracts Executive Business Planning 26,040,800 CLP
Corporate Strategy Analyst Business Planning 26,759,500 CLP
Cost Control Engineer Business Planning 17,039,100 CLP
Cost Controller Business Planning 20,159,800 CLP
Cost Estimator Business Planning 17,879,000 CLP
Data Executive Business Planning 14,760,200 CLP
Data Manager Business Planning 20,760,500 CLP
Data Processing Manager Business Planning 24,718,600 CLP
Development Researcher Business Planning 20,760,500 CLP
Director of Business Development Business Planning 38,641,600 CLP
Director of Production Planning Business Planning 33,119,100 CLP
Due Diligence Analyst Business Planning 29,519,900 CLP
Estimating Manager Business Planning 29,881,100 CLP
General Manager Business Planning 34,319,800 CLP
Incident Handler Business Planning 19,678,200 CLP
Incident Specialist Business Planning 22,799,000 CLP
Lean Consultant Business Planning 20,999,200 CLP
Manager Business Planning 38,039,000 CLP
Marketing and Business Development Manager Business Planning 32,280,500 CLP
Materials Planner Business Planning 12,600,600 CLP
Merchandise Assistant Business Planning 11,699,900 CLP
Merchandise Controller Business Planning 12,239,700 CLP
Merchandise Planner Business Planning 11,905,700 CLP
Operations Analyst Business Planning 24,718,600 CLP
Operations Manager Business Planning 29,881,100 CLP
Operations Research Analyst Business Planning 16,079,800 CLP
Planning and Reporting Manager Business Planning 30,961,800 CLP
Planning Director Business Planning 37,078,800 CLP
Project Administrator Business Planning 18,239,400 CLP
Project Manager Business Planning 27,721,300 CLP
Project Planner Business Planning 17,640,500 CLP
Research Assistant Business Planning 14,400,800 CLP
Research Engineer Business Planning 17,640,500 CLP
Research Officer Business Planning 14,280,500 CLP
Scholarship Coordinator Business Planning 13,319,300 CLP
Store Planner Business Planning 13,679,300 CLP
Strategy Director Business Planning 37,800,500 CLP
Top Research and Development Executive Business Planning 42,359,400 CLP

Salary Comparison by City

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

City Average Salary
Antofagasta 26,280,300 CLP
Concepcion 22,918,100 CLP
La Florida 26,880,900 CLP
Las Condes 26,280,300 CLP
Maipu 28,560,900 CLP
Penalolen 24,958,800 CLP
Puente Alto 27,479,000 CLP
Rancagua 22,918,100 CLP
San Bernardo 24,599,500 CLP
Santiago 29,041,200 CLP
Temuco 25,561,400 CLP
Valparaiso 26,639,300 CLP
Vina del Mar 26,158,200 CLP

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