Risk Analyst Jobs in Cambridge, MA
Risk Analyst Salary in Cambridge
Risk Analyst salaries in Cambridge are 68% above the national average, reflecting the high cost of living.
Purchasing power in Cambridge is comparable to the national average, with salaries appropriately scaled to local costs.
Required Skills
Risk Analyst Job Market in Cambridge
Cambridge, MA is a growing job market with increasing opportunities for Risk Analyst professionals. Though smaller than coastal metros, Cambridge offers focused opportunities and often better work-life balance. While Technology leads the local economy, there's growing demand for Risk Analyst roles across various sectors. The market for Risk Analyst positions remains stable, with opportunities in both established companies and growing organizations.
Top Companies Hiring Risk Analysts in Cambridge
Major employers hiring Risk Analysts in Cambridge include City of Cambridge, MBTA, MIT. Many companies offer competitive benefits including comprehensive healthcare, and professional development opportunities.
Cost of Living for Risk Analysts in Cambridge
Living in Cambridge as a Risk Analyst means navigating a cost of living that's significantly above the national average (168% of baseline). Average rent for a 1-bedroom apartment is approximately $2,900/month (61% above the national average of $1,800). At median Risk Analyst salary, housing is quite affordable at 24% of gross income, leaving room for savings and lifestyle spending. Suburban apartments average $2,200/month, offering significant savings with slightly longer commutes.
Commuting as a Risk Analyst in Cambridge
Cambridge Limited public transit options; car recommended for most commutes. The average commute time is 25 minutes. Research employer-specific shuttle services. Consider living close to your workplace. Since transit options are limited, consider living close to your workplace or negotiating flexible hours to avoid peak traffic.
Best neighborhoods for Risk Analysts in Cambridge: Downtown (Central business district with tech companies); Tech Park/Campus (Suburban office park developments). Downtown is particularly popular among Risk Analyst professionals due to proximity to major employers and urban amenities.
Tax Considerations in Massachusetts
Massachusetts has moderate state income taxes. When evaluating offers, consider total compensation including benefits, not just base salary. Local cost of living typically has more impact on your finances than state tax differences.
Career Outlook for Risk Analysts
The job outlook for Risk Analysts in Cambridge is stable. While not experiencing rapid growth, the field maintains steady demand with consistent opportunities for qualified professionals. While the market is smaller, Cambridge offers opportunities for those seeking specialized roles or better work-life balance. In-demand skills include Risk Assessment, Data Analysis, Financial Modeling, Regulatory Knowledge.
Relocating to Cambridge
Cambridge has a very high cost of living. Many Risk Analysts negotiate relocation packages or sign-on bonuses to offset moving costs.
Frequently Asked Questions
What is the average Risk Analyst salary in Cambridge, MA?
The average Risk Analyst salary in Cambridge, MA is $142,800 per year. Entry-level Risk Analysts typically start around $92,820, while experienced professionals can earn $202,860 or more. The national average for Risk Analyst roles is $85,000.
How many Risk Analyst jobs are available in Cambridge?
Cambridge has a growing job market with steady opportunities for Risk Analyst professionals. Major employers hiring Risk Analysts include City of Cambridge, MBTA, MIT. The Technology and Biotechnology sectors drive much of the demand in this market.
Is Cambridge a good city for Risk Analysts?
Cambridge is an excellent choice for Risk Analysts. While not as large as coastal metros, it offers solid opportunities and often better work-life balance. However, be aware of the higher cost of living when evaluating offers. The city's technology industry creates strong demand for business & operations professionals.
What skills are most in-demand for Risk Analysts in Cambridge?
Top skills for Risk Analysts in Cambridge include Risk Assessment, Data Analysis, Financial Modeling, Regulatory Knowledge, Reporting. Employers value both technical expertise and soft skills like communication and teamwork.
What is the cost of living for Risk Analysts in Cambridge?
Cambridge's cost of living is significantly above the national average (168% of baseline). Average rent for a 1-bedroom apartment is approximately $2,900/month. Purchasing power in Cambridge is comparable to the national average, with salaries appropriately scaled to local costs.
How is the commute for Risk Analysts in Cambridge?
Cambridge Limited public transit options; car recommended for most commutes. The average commute is 25 minutes. Research employer-specific shuttle services.
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