15+ Best Risk Management Degrees You Can Study 2023

risk managers

Best Risk Management Degrees: Are you looking for the best schools for bachelor’s degree programs for risk managers?

Are you confused about the choice of course you have made and what to know about the risk management career? 

Risk management is a profession that according to the Bureau of Labor Statistics has a 24% job growth making room for employment of more graduates in the field.

This profession is often mistaken as business administration but in a broad sense it is a subset of business administration with focus on risk management.

Basically, risk management students focus on evaluating case studies that real businesses have experienced and make risk management decisions.

While being a student of risk management, some schools allow their students to go for internships.

Through internships with real-world organizations, students learn from people who are working in the field and make valuable industry connections.

Upon graduation, risk managers work as insurance sales agents, actuaries, underwriters, adjusters and other career parts. 

Being intrigued by the possibilities of this profession, many students are considering earning a bachelor’s degree in risk management.

Following this development, we have come up with a piece on all you need to know about becoming a risk manager.

Also, we have come up with detailed information that will help you from the admission process to the requirements needed to get into any of the Risk management schools.

We have also answered all questions that you may have about this concept.

Welcome Aboard Scholar!!!

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Content Summary

What Is A Risk Management Degree?

Risk management is a course that prepares you to know how to analyze data, and make projections and predictions that will protect organizations from financial loss if applied. 

This profession comes in handy for organizations that want to protect their financial state against possible losses. Their responsibilities include evaluating the risks that people or organizations face and developing plans in response.

Hence while many risk management professionals end up in insurance companies, actuaries, or any other firm in need of financial protection.

Anyone who has an interest in risk management goes on to enroll in degree programs, basically a bachelor’s degree to become a professional.

Are Risk Management Professionals In High Demand?

Owing to the financial state of most economies, almost every firm has a risk management professional. This is so because they have to protect their company from financial losses. Due to the high need for risk managers, the risk management profession is booming. 

Companies count on these experts to help them guard against loss, formulate formidable reliable plans, and maximize their profits.

There is a high chance of getting immediate employment upon graduation from any of the approved risk management schools. 

The Bureau of Labor Statistics predicts 24% job growth for risk managers in the next 10 years. Actuaries in particular have a 17% growth rate.

What Are The Qualities Of A Good Risk Manager?

Before you venture into any of yeh risk management schools near you, it’s ideal you weigh yourself and your abilities to know if your strengths superimpose your weaknesses of being trained as a risk manager.

Here are some of the qualities that make you an ideal candidate to pursue a bachelor’s degree in risk management;

  • Be detail-oriented.
  • Be a strong communicator.
  • Possess an analytical mind.
  • Have the ability to work with numbers effortlessly.
  • Enjoy brainstorming solutions for complex problems.

What Courses Are Offered In Risk Management Schools?

Earning a degree in risk management will require you to register either for bachelor’s programs or a higher degree in any of the risk management schools.

This program will educate you on how to become a risk manager. To graduate from any of the risk management schools with a degree, you’ll earn around 120 credits.

During your risk management bachelor’s degree program, you’ll study courses such as;

  • Finance
  • Statistics
  • Insurance
  • Economics
  • Risk analysis
  • Communication
  • Decision making
  • Employee benefits
  • Business regulations
  • Management principles
  • Financial Investments
  • Organizational Structure
  • Risk Management Concepts

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What Are The Factors To Consider When Choosing Risk Management Programs?

As you will find below, there are a lot of risk management programs offered by many schools for students to earn a degree. Making a choice can be daunting because there are a lot of good options out there. 

So we have developed a guide to help you navigate and filter out the best options when it comes to risk management programs. 

Here are the factors a job must consider when choosing a risk management school;

#1. Accreditation Of The School.

Your degree in risk management will only be valid if the school you graduated from is accredited. Ensure you tick off this box when making a choice of the best school to enroll into.

#2. The Tuition Cost Of The School

Depending on how much you have, you have to know what the tuition is like in any of the schools on your list. Is it too high? Can you afford it? If not, are there alternatives such as scholarships and other forms of financial aid you can apply for? Put this into perspective.

#3. How Broad Is Their Curriculum?

It’s ideal you enroll for a degree in risk management in a school that has a broad curriculum with a risk management concentration. Most schools offer risk management as a subset of business administration therefore we often recommend that you go for a standalone degree program.

#4. Does the School Offer Professional Certifications?

You don’t want to enroll in a school and graduate with no certificate to show for it. So while scouting for risk management schools with good bachelor’s degree programs, it’s ideal you find out in time if they offer professional credentials.

#5. Does The School Offer Internship Opportunities?

Internships are important to prepare you for the real job out there. So decipher if the school in your list has connections to high-profile organizations where you could complete an internship and network with others in this field.

#6. Are There Online Risk Management Programs?

For the busy candidate whose traditional schooling may not augur well for you, looking out for schools with online risk management programs will save you a lot of stress. This will allow you to come for virtual class at specified times 

What Schools Are Offering Risk Management Bachelor’s Degree Programs?

Without further ado, let’s take you on the list of the schools you can get a degree in risk management. Our list was based on accreditation, and the availability of online and hybrid programs.

Here is the list of schools offering bachelor’s degrees in risk management;

#1. Bay Path University

Bay Path University is one of the best schools in England training risk managers accredited by the New England Commission of Higher Education.

Prospective risk management students can enroll for a BS in Cybersecurity: Risk Management. Students who enroll in this program are required to complete a capstone to graduate. Courses their will encounter will cut across;

  • Cyber Strategy.
  • Programming Languages
  • Fundamentals of Information Assurance
  • Computer Networks and Network Security

#2. Eastern Kentucky University

Eastern Kentucky offers a Bachelor of Business Administration – Risk Management online program which emphasizes real-world applications.  Being accredited by the Southern Association of Colleges and Schools Commission on Colleges, Eastern Kentucky University is one of the best schools you can apply to.

Courses prospective students will come across include;

  • Principles of Risk and Insurance
  • Fundamentals of Life and Health Insurance
  • Commercial Property Risk Management and Insurance.

#3. Grand Canyon University

Grand Canyon University has one of the top risk management online and hybrid programs for a bachelor’s degree. The university is accredited by the Higher Learning Commission.

Students can earn a bachelor’s degree in Risk Management. 

Courses prospective students will come across include;

  • Business Statistics
  • Management Accounting
  • Fundamentals of Business Finance
  • Global Risk Management Practices.

#4. Indiana State University

One of the best risk management schools you can enroll in is Indiana State University which offers a BS in Insurance and Risk Management online and on-campus. 

Indiana State University is accredited by the Higher Learning Commission.

Courses prospective students will come across include;

  • Business Information Tools
  • Commercial Property Risk Management
  • Insurance, Principles of Accounting I and II.

#5. Johnson & Wales University

If you’re looking for a bachelor’s degree program in risk management then consider Johnson & Wales University. Johnson & Wales University offers an online 8-16 weeks Bachelor of Science in Business Administration – Enterprise and Risk Management program. 

Being accredited by the New England Commission of Higher Education, Johnson & Wales University is a sure bet for enrollment.

#6. Ohio Dominican University

Ohio Dominican University offers a Bachelor’s in Risk Management and Insurance accredited by the Higher Learning Commission.

The good thing about Ohio Dominican University is that they allow students to go for professional internships via the school’s industry partnerships. 

Courses prospective students will come across include;

  • Enterprise Risk Management
  • Fundamentals of Risk Management and Insurance, 
  • Operations and Management of Insurance Companies.

#7. University of Central Arkansas

Next on our list of the best risk management schools with accredited programs is the University of Central Arkansas accredited by the Higher Learning Commission.

The University of Central Arkansas offers a fully online Bachelor of Business Administration in Insurance and Risk Management. 

Most graduates of the University of Central Arkansas risk management program work as

  • Underwriters
  • Claims adjusters
  • Financial planners
degree for risk management
degree for risk management

#8. University of Colorado – Denver

You can get a risk management bachelor’s degree from the University of Colorado – Denver. UC Denver offers full-time, part-time, and online BSBA in Risk Management and Insurance. 

Being one of the few accredited schools for risk management, UC Denver offers opportunities to its students for networking, internships, and study abroad.

Courses prospective students will come across include;

  • Operations Management
  • Business Problem Solving
  • Corporate Risk Management.

#9. University of Houston – Downtown

The University of Houston Downtown is one of the schools accredited by the Southern Association of Colleges and Schools Commission on Colleges offering a BBA in Insurance and Risk Management. 

There are online and on-campus classes depending on the choice of the student. 

Most risk management graduates from the University of Houston – Downtown work as;

  • Auditors.
  • Appraisers
  • Underwriters

#10. University of Louisiana – Monroe

The University of Louisiana Monroe offers an online bachelor’s degree program in Risk Management and Insurance accredited by the Southern Association of Colleges and Schools Commission on Colleges.

Usually, it takes 4, 8, or 16 weeks to complete the program. Courses prospective students will come across include;

  • Insurance Law
  • Insurance Operations 
  • Social and Health Insurance
  • Surplus Lines and Reinsurance.
  • Commercial Liability Insurance

Other Risk Management Schools You Can Enroll In include;

  • Olivet College
  • Butler University
  • Temple University
  • University of Georgia
  • Ball State University
  • St. John’s University
  • Florida State University
  • University of Minnesota-Twin Cities

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How Much Do Risk Managers Earn?

Depending on the aspect of risk management you are opting for the salary structure may differ. According to the Bureau of Labor Statistics, here image some career choices under risk management and their annual median salary;

CareersAnnual Median Salaries
Financial Managers$131,710
Loss Prevention Managers$124,650
Actuaries$105,900
Computer Systems Analysts$99,270
Personal Financial Advisors$94,170
Financial and Investment Analysts$91,580
Insurance Underwriters$76,390
Claims Adjusters, Examiners, and Investigators$65,080
Auto Damage Insurance Appraisers$62,680
Insurance Sales Agents$49,840
What Risk Managers earn annually

Frequently Asked Questions About Risk Management Bachelor’s Degree Programs

What Are Jobs Can Risk Management Professionals Apply For?

There are many job options for risk managers, some of which includes;

  • Auditors.
  • Actuaries
  • Underwriters. 
  • Claims adjusters.
  • Financial Analyst
  • Financial planners
  • Insurance sales representatives. 
  • Appraiser for an auto insurance company.

What Are The Requirements For Gain Admission Into Bachelor’s of Risk Management Degree Programs?

Requirements for enrollment into any risk management school is school dependent. However, some of the general requirements that are common to all schools Include;

  • Personal essay
  • Letters of reference
  • Transcripts (often with a GPA of 2.5 or higher)
  • Minimum SAT or ACT scores (not required at all schools)
  • Additional requirements are school specific. 

Do I Need Licensure and Certifications To Work As A Risk Manager?

Everyone in the risk management profession is required to have some credentials and licenses that allow them to practice as risk managers, some of them Include; 

Are There Financial Aid and Scholarships Available In Risk Management Schools?

The scholarship programs available to risk management students are those issued by the State and federal governments. Some scholarships may be administered by your school as well. 

Is Risk Management a Business Degree?

Risk management bachelor’s degree programs are usually a subset of business administration in most schools. This profession is closely linked to the financial and insurance sectors hence why risk management programs fall under the school of business.

What Can I Do with a Risk Management Degree?

With a degree in risk management, you can start a career in the insurance business, sell policies or appraise property damage.

Some other graduates of risk management may venture into financial analysis. They are involved in financial risk analysis and planning. 

How Long Does It Take to Get a Bachelor’s Degree in Risk Management?

Bachelor’s Degrees in Risk Management often take 4 years to complete with a full-time study on campus. However, online degrees in risk management take 6 to 8 weeks to complete. A master’s in risk management degree takes a year to complete.

Is There A Difference Between a Bachelor in Risk Management vs. Safety Management Degree?

A whole lot of difference exists between safety management and risk management. While safety management focuses on reducing workplace hazards, stopping harm or loss risk management involves considering the likelihood of harm or loss from hazards and making financial plans for dealing with them.

Conclusion

Following the projection made by the Bureau of Labor Statistics in the next 10 years, risk management will experience a 24% job growth making it a good program to study now.

You can leverage our guide to make the right choice of school from the list of the best risk management schools with accredited bachelor’s degree programs..Do not forget to consider the cost of tuition as well as other factors to make a choice. 

We hope you found this guide very helpful and educational. Follow us on our Facebook page and YouTube Channel for more information about academic-related content that will help you make informed decisions on your academic journey.

Good Luck Scholar!!!

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