Risk Analyst Average Salary in Sydney 2024
How much money does a person working as Risk Analyst make in Sydney?
LOW
57,700
AUD AVERAGE
118,000
AUD HIGH
184,000
AUD
A person working as Risk Analyst in Sydney typically earns around 118,000 AUD. Salaries range from 57,700 AUD (lowest) to 184,000 AUD (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Risk Analyst salaries in Sydney vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Risk Analyst Pay Scale and Salaries in Sydney
Salary Structure and Pay Scale Comparison
109,000 AUD or more
96,400 to 109,000 AUD
68,400 AUD or less
68,400 to 96,400 AUD
 57,700 AUD |
110,000 AUD |
184,000 AUD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Risk Analyst in Sydney range from 57,700 AUD (starting salary) to 184,000 AUD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 110,000 AUD, half of the professionals who work as Risk Analyst in Sydney earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Risk Analyst in Sydney earn less than 89,800 AUD, while 75% earn more. Similarly, the chart shows that 75% earn less than 126,000 AUD while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Risk Analyst in Sydney compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 68,400 AUD to 96,400 AUD. About 20% of salaries are below the 68,400 AUD mark, while 10% fall within the range of 96,400 AUD to 109,000 AUD. Only 5% of individuals have salaries exceeding 109,000 AUD.
Salary Comparison by Years of Experience / Risk Analyst / Sydney
How do experience and age affect pay?
| 0 - 2 Years | 68,400 AUD | |
| 2 - 5 Years | +29% | 87,900 AUD |
| 5 - 10 Years | +38% | 121,000 AUD |
| 10 - 15 Years | +24% | 150,000 AUD |
| 15 - 20 Years | +7% | 161,000 AUD |
| 20+ Years | +7% | 172,000 AUD |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Risk Analyst and this is what we found.
Employees with less than two years of experience earn approximately 68,400 AUD.
While someone with an experience level between two and five years is expected to earn 87,900 AUD, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 121,000 AUD, 38% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 150,000 AUD, 24% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 161,000 AUD, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 172,000 AUD, 7% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Risk Analyst / Sydney
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Risk Analyst.
| Bachelor's Degree | 85,400 AUD | |
| Master's Degree | +60% | 137,000 AUD |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Risk Analyst in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 85,400 AUD.
Level 2: Master's Degree
At this level, the average salary becomes 137,000 AUD, 60% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Australia costs anywhere from 38,000 AUD to 114,000 AUD and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Risk Analyst / Sydney
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Risk Analyst in Australia, the average difference between the salary of male and female employees is 5%.
| Male | 106,000 AUD | |
| Female | -5% | 101,000 AUD |
Salary Comparison By Gender in Australia for all Careers
Average Annual Salary Increment Percentage / Risk Analyst / Sydney
How much are annual salary increments in Sydney for individuals working as Risk Analyst? How often do employees get salary raises?
Individuals working as Risk Analyst in Australia are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
Australia / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Risk Analyst / Australia
How much and how often are bonuses being awarded?
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Risk Analyst / Sydney
57 AUD per hourThe average hourly wage (pay per hour) for individuals working as Risk Analyst in Sydney is 57 AUD.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Risk Analyst in Sydney is 28 AUD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Oil / Gas / Energy / Mining |  -100% | |
| Assistant Yard Manager | 93,400 AUD | -21% |
| Associate Analyst | 101,000 AUD | -14% |
| Associate Landman | 42,600 AUD | -64% |
| Auxiliary Equipment Operator | 39,700 AUD | -66% |
| Biomass Plant Technician | 44,300 AUD | -62% |
| Biomass Power Plant Manager | 138,000 AUD |  +17% |
| Carbon Capture and Storage Specialist | 107,000 AUD | -9% |
| Chemical Plant Operator | 76,300 AUD | -35% |
| Chief Contract Compliance Engineer | 103,000 AUD | -13% |
| Chief Renewable Energy Officer | 172,000 AUD | +46% |
| Chief Sustainability Officer | 170,000 AUD | +44% |
| Completions Engineer | 94,200 AUD | -20% |
| Cost Controller | 68,400 AUD | -42% |
| Cost Engineer | 91,000 AUD | -23% |
| Crude Oil Marketing Representative | 98,200 AUD | -17% |
| Deep-sea Mining Engineer | 114,000 AUD | -3% |
| Dispatcher | 41,000 AUD | -65% |
| Distribution Manager | 133,000 AUD | +13% |
| Dragline Operator | 45,400 AUD | -61% |
| Driller Offsider | 34,100 AUD | -71% |
| Dump Truck Driver | 37,300 AUD | -68% |
| Electric and Gas Operations Manager | 217,000 AUD | +84% |
| Energy Advisor | 145,000 AUD | +23% |
| Energy Analyst | 129,000 AUD | +10% |
| Energy Auditor | 113,000 AUD | -4% |
| Energy Dispatch Director | 162,000 AUD | +38% |
| Energy Efficiency Auditor | 96,900 AUD | -18% |
| Energy Efficiency Consultant | 112,000 AUD | -5% |
| Energy Modeler | 88,500 AUD | -25% |
| Energy Policy Analyst | 99,700 AUD | -15% |
| Energy Storage Engineer | 102,000 AUD | -13% |
| Energy Technical Assistant | 58,100 AUD | -51% |
| Energy Technical Manager | 119,000 AUD | +1% |
| Energy Technical Support Manager | 120,000 AUD | +2% |
| Energy Technical Trainer | 83,600 AUD | -29% |
| Engineering Geologist | 177,000 AUD | +50% |
| Exploration Manager | 162,000 AUD | +38% |
| Field Safety Auditor | 105,000 AUD | -11% |
| Fluids Engineer | 92,400 AUD | -22% |
| Fuel Cell Engineer | 104,000 AUD | -12% |
| Fuel Cell Technician | 49,100 AUD | -58% |
| Fuels Handler | 42,500 AUD | -64% |
| Gas Compressor Operator | 43,700 AUD | -63% |
| Gas Distribution Plant Operator | 80,000 AUD | -32% |
| Gas Supply Manager | 137,000 AUD | +16% |
| Geologist | 177,000 AUD | +50% |
| Geophysicist | 168,000 AUD | +43% |
| Geothermal Engineer | 105,000 AUD | -11% |
| Geothermal Production Manager | 159,000 AUD | +35% |
| Geothermal Technician | 64,200 AUD | -45% |
| HSE Engineer | 92,100 AUD | -22% |
| HSE Officer | 55,200 AUD | -53% |
| HSE Supervisor | 70,500 AUD | -40% |
| HSEQ Administrator | 69,700 AUD | -41% |
| Hydrogen Fuel Cell Engineer | 107,000 AUD | -9% |
| Inspector | 87,100 AUD | -26% |
| Instructor | 75,000 AUD | -36% |
| Instrument Designer | 70,500 AUD | -40% |
| Lead Technical Field Advisor | 123,000 AUD | +4% |
| Lithium Ion Battery Engineer | 87,500 AUD | -26% |
| Logistics and Tool Coordinator | 82,500 AUD | -30% |
| Maintenance Engineer | 98,100 AUD | -17% |
| Maintenance Superintendent | 80,800 AUD | -31% |
| Material Controller | 60,600 AUD | -49% |
| Methane Detection and Mitigation Specialist | 92,300 AUD | -22% |
| Mine Engineer | 93,800 AUD | -20% |
| Mine Surveyor | 100,000 AUD | -15% |
| Mining Project Administrator | 84,300 AUD | -28% |
| Mining Project Assistant | 64,500 AUD | -45% |
| Mining Project Controls Consultant | 101,000 AUD | -14% |
| Mining Project Coordinator | 81,800 AUD | -31% |
| Mining Project Engineer | 94,000 AUD | -20% |
| Mining Project Manager | 120,000 AUD | +2% |
| Mining Site Manager | 130,000 AUD | +10% |
| Mining Team Leader | 95,900 AUD | -19% |
| Natural Gas Engineer | 102,000 AUD | -13% |
| NDT Technician | 60,600 AUD | -49% |
| Net Zero Energy Consultant | 121,000 AUD | +3% |
| Oil Service Unit Operator | 48,600 AUD | -59% |
| Oil Trader | 121,000 AUD | +3% |
| Oilwell Pumper | 36,000 AUD | -69% |
| Petroleum Engineer | 110,000 AUD | -7% |
| Petroleum Geologist | 170,000 AUD | +44% |
| Petroleum Pump System Operator | 50,300 AUD | -57% |
| Petroleum Technician | 54,000 AUD | -54% |
| Photovoltaic Engineer | 104,000 AUD | -12% |
| Pipeline Technician | 35,800 AUD | -70% |
| Power Coordinator | 60,400 AUD | -49% |
| Power Plant Operations Manager | 181,000 AUD | +54% |
| Power Plant Operator | 74,300 AUD | -37% |
| Radio Operator | 41,100 AUD | -65% |
| Reliability Engineer | 92,900 AUD | -21% |
| Renewable Energy Consultant | 138,000 AUD | +17% |
| Renewable Energy Engineer | 113,000 AUD | -4% |
| Renewable Energy Policy Analyst | 115,000 AUD | -2% |
| Reservoir Engineer | 84,500 AUD | -28% |
| Risk Analyst | 118,000 AUD | +0% |
| Roughneck | 93,100 AUD | -21% |
| Scaffolder | 63,500 AUD | -46% |
| Shutdown Engineer | 79,400 AUD | -33% |
| Smart Grid Analyst | 100,000 AUD | -15% |
| Smart Grid Engineer | 100,000 AUD | -15% |
| Solar Energy Installation Manager | 146,000 AUD | +24% |
| Solar Energy Systems Engineer | 101,000 AUD | -14% |
| Solar Photovoltaic Installer | 63,200 AUD | -46% |
| Solar Thermal Technician | 59,200 AUD | -50% |
| Supply Operations Manager | 148,000 AUD | +26% |
| Sustainability Analyst | 119,000 AUD | +1% |
| Sustainability Architect | 117,000 AUD | -1% |
| Sustainability Specialist | 156,000 AUD | +32% |
| Sustainable Energy Consultant | 122,000 AUD | +4% |
| System Development Advisor | 111,000 AUD | -6% |
| Tanker Truck Driver | 36,800 AUD | -69% |
| Unconventional Oil and Gas Engineer | 99,500 AUD | -15% |
| Utility Operator | 53,300 AUD | -55% |
| Waste-to-Energy Specialist | 134,000 AUD | +14% |
| Wind Energy Project Manager | 136,000 AUD | +16% |
| Wind Farm Technician | 68,700 AUD | -42% |
| Wind Turbine Technician | 78,900 AUD | -33% |
Salary Comparison By City
| City | Average Salary |
| Melbourne | 109,000 AUD |
| Sydney | 118,000 AUD |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Australia is 5% on average across all career fields.
| Private Sector | 89,000 AUD | |
| Public Sector | +5% | 93,400 AUD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Risk Analyst in Sydney?
A good and competitive compensation would range anywhere between 110,000 AUD and 126,000 AUD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Risk Analyst in Sydney ranges from 57,700 AUD to 89,800 AUD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
