Risk Management Degree

Find your next area of study: Risk Management Degree

Individuals who have a degree in finance or business will find a variety of openings awaiting them in one of the fastest growing sectors of the business world, risk management. The U.S. Bureau of Labor Statistics expects the risk management field within business to grow at an average rate of 13% over the next decade and those with a risk management degree, or other related degree, will have the greatest potential to cash in on this expansion.

Risk management involves the identification, assessment, and prioritization of risks to help maximize business opportunities or to monitor, minimize, and attempt to control the probability and outcome of disastrous events. Companies use risk management techniques to try and help increase productivity and avoid unnecessary loss. Individuals interested in attaining a risk management degree will find a stable job market awaiting them with high compensation for their efforts. Preparing for a career in risk management is possible through various degree programs at both on campus universities and online institutions.

The first step toward a career in risk management is to earn a Bachelor’s degree in a related field. There are few, if any, undergraduate programs that offer a specific Bachelor’s degree in the field of risk management, however a degree in finance, business, management, or administration will more than adequately prepare an individual to either earn an entry level position as a team member in a risk management situation; or prepare them to enter a graduate degree program. Some of the classes individuals should be able to pass at the undergraduate level include:

  • Economics (both macro and microeconomics)
  • Corporate Finance
  • Practical Statistics

Once an individual has earned an undergraduate degree in business, finance, or another related field they will be ready to apply for a Master’s program. At the Master’s level individuals will find specialized training available in the field of risk management itself. Despite the existence of a specialized risk management degree available at the Master’s level, individuals can succeed in the career field with any of the following degrees:

  • Master of Science in Business – Risk Management
  • Master of Business Administration – Risk Management
  • Master of Business Administration – Finance
  • Master of Business Administration – Accounting
  • Master of Business Administration – Accounting and Finance

Students pursuing a risk management degree through an MBA program will gain the added value of knowledge about business management and theory, making them a dual threat capable of holding down a job in multiple career fields upon graduation. While enrolled in a Master’s program, students can expect to take a wide variety of classes including but not limited to the following:

  • Risk Prevention
  • Labor Law
  • Security Management Theory
  • Industrial Safety
  • Auditing
  • Workers Compensation
  • Environmental Hazards
  • Compliance Legislation
  • Public Emergency Services
  • Risk Prevention Planning