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Risk Management Degrees Why You Need An MBA

Tuesday, May 18, 2010

If you'd like to have a lucrative risk management career, you should consider getting your MBA. This guide explains job growth and earnings, and offers suggestions to find the best risk management degree programs.

Risk managers oversee programs in corporations, businesses, and government departments to minimize risks and losses. Risk managers control financial risk by utilizing hedging and other special techniques, and also decide which products companies should use to best help protect an organization's assets.

Risk managers are also responsible for developing accounting and financial systems. They work in all industries, but most work in depository credit intermediation industries, securities and commodity contracts, intermediation and brokerage, insurance, and local government.

While job growth in risk management is expected to be nearly 10% for the 1998-2008 decade, it is still an employer's market, meaning most employers have extremely high standards when it comes to selecting candidates. To get your foot in the door, you need an MBA from an accredited degree program plus experience. The preferred degree path is an MBA with a focus in risk management.

Earnings for MBA degree holders are significantly higher than earnings for all others. MBA degree holders with at least 3-5 years experience in the field can expect to earn $100,000-$134,940+. Entry-level salaries are actually impressive as well, but promotions and higher earnings are typically offered to advanced degree holders. The entry-level salary for risk managers is around $65,000 per year.

Finding Risk Management Degree Programs

To locate top risk management degree programs, visit online directories such as or search the pages of Princeton Review College Rankings at Bing or Google may be useful as well. When you have located several MBA (focus in risk management) programs that are of interest to you, before applying, check to make sure the school is accredited by an agency recognized by the U.S. Department of Education. The following agencies accredit most business programs. The agencies listed below are also recognized by the U.S. Department of Education.

-The Association to Advance Collegiate Schools of Business (AACSB)
-The Association of Collegiate Business Schools and Programs (ACBSP)
-The Council for Higher Education Accreditation (CHEA)
-The Distance Education and Training Council (DETC)

Regional Accrediting Agencies

-Middle States Association of Colleges and Schools
-New England Association of Schools and Colleges
-North Central Association of Colleges and Schools
-Northwest Commission on Colleges and Universities
-Southern Association of Colleges and Schools
-Western Association of Schools and Colleges

If you would like more information about the accrediting process and an official list of accrediting agencies, visit the U.S. Department of Education website at Good luck!

To learn more about MBA programs, including curriculum and program info for risk management degrees visit For more information on accreditation, visit the U.S. Department of Education.


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