As of December 01, 2024, the average annual pay of Rating Specialist in the United States is $51,506. While Salary.com is seeing that the highest pay for Rating Specialist in the US can go up to $70,124 and the lowest down to $33,263, but most earn between $41,957 and $61,252. Salary.com shows the average base salary (core compensation), as well as the average total cash compensation for the job of Rating Specialist in the United States.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $61,252 | $5,104 | $1,178 | $29 |
| Average | $51,506 | $4,292 | $991 | $25 |
| 25th Percentile | $41,957 | $3,496 | $807 | $20 |
As of December 01, 2024, Salary.com is seeing that an entry-level Rating Specialist with under 1 year experience makes about $48,154. With less than 2 years of experience, a mid-level Rating Specialist makes around $48,438. After 2-4 years, the Rating Specialist pay rises to about $52,000. Those senior Rating Specialist with 5-8 years of experience earn roughly $56,057, and those Rating Specialist having 8 years or more experience is expected to earn about $56,347 on average.
| Levels | Salary |
|---|---|
| Entry Level Rating Specialist | $48,154 |
| Intermediate Level Rating Specialist | $48,438 |
| Senior Level Rating Specialist | $52,000 |
| Specialist Level Rating Specialist | $56,057 |
| Expert Level Rating Specialist | $56,347 |
| Entry Level | 7% |
| Mid Level | 6% |
| Senior Level | 1% |
| Top Level | 9% |
| Experienced | 9% |
Salaries in the United States can vary significantly from state to state due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Rating Specialist is $56,811 in California and in Massachusetts, the average annual salary goes to $56,039. While in New Jersey, a Rating Specialist earns $56,451 per year.
What Am I Worth?
Salaries in the United States can vary significantly from city to city due to a multitude of factors, including cost of living, local economic conditions, and industry presence.
For example, as of December 01, 2024, the average yearly salary of Rating Specialist in San Francisco, CA is $64,383 and in New York, NY, the average annual salary goes to $60,159. While a Rating Specialist earns $57,738 per year in Boston, MA.
For those exploring the changing dynamics of Rating Specialist salaries, Salary.com offers detailed insights through our Job Trending in CA Labor Market analysis. As of December 01, 2024, our research highlights a notable shift in Rating Specialist compensation over the past six years. For instance, the median salary has moved from $46,645 in 2023 to about $46,707 in 2024 (for a comprehensive analysis of Rating Specialist salary trends, click here). It's crucial to consider several elements, including geographical location, experience level, industry demand, and economic development, as they play a significant role in influencing salary variations.
Salary.com job board provides millions of Rating Specialist information for you to search for. Click on search button below to see Rating Specialist job openings or enter a new job title here.
Here are companies hiring for Rating Specialist and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $51,506 | 68.7% | ||
| Bonus | $1,143 | 1.5% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,028 | 5.4% | ||
| 401K/403B | $2,474 | 3.3% | ||
| Disability | $421 | 0.6% | ||
| Healthcare | $6,056 | 8.1% | ||
| Pension | $2,896 | 3.9% | ||
| Time Off | $6,480 | 8.6% | ||
| Total Compensation | $75,004 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| High School | 16.7% |
| Bachelors | 83.3% |
What Am I Worth?
The average annual salary of Rating Specialist is $51,506. In case you are finding an easy salary calculator, the average hourly pay of Rating Specialist is $25; the average weekly pay of Rating Specialist is $991; the average monthly pay of Rating Specialist is $4,292.
A Rating Specialist's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Rating Specialist earns the most in San Jose, CA, where the annual salary of a Rating Specialist is $64,640.
The highest pay for Rating Specialist is $70,124.
The lowest pay for Rating Specialist is $33,263.
Rating Specialist is responsible for calculating insurance premiums based on rate books, calculators, and the type and amount of policy. Revises rates as necessary and maintains records and appropriate filings. Being a Rating Specialist requires a high school diploma or equivalent. Typically reports to a supervisor or manager. The Rating Specialist works independently within established procedures associated with the specific job function. Has gained proficiency in multiple competencies relevant to the job. To be a Rating Specialist typically requires 3-5 years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Risk Management: Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Risks can come from various sources including uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. There are two types of events i.e. negative events can be classified as risks while positive events are classified as opportunities. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards. Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
Data Gathering: Data collection is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes.
Billing: Billing refers to the aspect of banking, whereby someone is charged accurately for what item they purchased.
