Students completing an online bachelor’s in risk management will learn about the risks major businesses regularly incur and how to mitigate those risks and deal with the issues caused by the risks. Students who end up completing this degree (which typically requires 120 credit hours) may qualify for a job as a financial analyst, and they can expect an average salary of $95,000.
Most of these online bachelor’s programs can be completed in four years by full-time students, and it is possible for students who take on additional courses to complete everything within only three years. According to the National Center for Education Statistics, the average cost for such a degree is $26,800, making this a relatively small investment in a potentially lucrative field.
How to Choose an Online Bachelor’s in Risk Management Program
Choose your area of study
While some online bachelor’s in risk management programs are more generalized, others may require students to choose a specific area of study. Sample areas of study students can choose from include cybersecurity risk management, risk management and insurance, real estate risk management, risk management and finance, and enterprise risk management.
Each of these areas helps prepare students for a specialized post-graduation career, so it’s worth it for students to carefully consider what kind of jobs they want to work after earning their degree. Students can effectively get the most from their undergraduate education by choosing a program that best aligns with their future vocational needs.
Research schools and programs
A surprisingly large number of online bachelor’s in risk management programs are available to students, which means it’s important for interested students to know how to narrow down the list.
When it comes to schools, the most crucial criterion is that they are fully accredited — an unaccredited program will not be respected or honored by most employers, making it difficult to get a job after graduation. Cost is another major factor, as picking an affordable school can help students avoid graduating with large amounts of unwanted debt. Additionally, students who want a feeling of community and support from fellow students may wish to focus on schools that have dedicated online spaces for cohorts of remote students.
Prepare for tests and applications
As part of applying to a chosen school, students will typically need to submit SAT or ACT scores. It often takes about 1 to 3 months to study for each test, and it can take 10 to 24 days to receive results, so it’s essential to factor in how long this may take against application deadlines.
Students should also review the application for other requirements, including undergraduate transcripts, application essays, and letters of recommendation. As with the test scores, students should give themselves enough time to gather all required materials so they can submit a completed application well before the deadline.
Select your program
After students have narrowed things down to the most promising online bachelor’s in risk management programs they are interested in, they must finalize the choice of school(s) they wish to apply to.
It’s still very important to consider the cost. Since some programs are much more affordable than others, choosing the right school could make a difference in whether a student begins their professional career with debt. Students worried about the academic workload placed on them may wish to choose a school that offers remote tutoring and other forms of academic support. Finally, students hoping to network while in school should consider applying to places where professors who are very established in this field can help them find job opportunities after graduation.
Determine how you’ll pay for your degree
It’s important to fill out the Free Application for Federal Student Aid (FAFSA) each academic year. Students who do so will automatically be offered federal student loans, and depending on their EFC (estimated family contribution), students may qualify for other forms of aid, such as Pell Grants. Additionally, many other types of financial assistance, including certain scholarships, require students to complete the FAFSA to qualify.
Keep in mind that additional aid may be available through the school or the state. Because of this, it’s essential to contact the Financial Aid department of any prospective school to discover what kinds of aid are available.
Best 50 Accredited Online Bachelor’s in Risk Management Programs
Discover More Options
How We Rank Schools
To create this list, we analyzed the offerings of colleges and universities around the United States to find those that offer the best online bachelor in risk management programs. Most of these degree programs award graduates with a Bachelor of Science; however, some may award students with a Bachelor of Business.
A variety of organizations may provide accreditation for the programs on this list. Those that offer Bachelor of Business degrees are typically accredited by the International Accreditation Council for Business Education or the Association to Advance Collegiate Schools of Business. Others may be accredited by the Higher Learning Commission or the New England Commission of Higher Education.
What Can You Expect from an Online Bachelor’s in Risk Management Program?
Students attending an online bachelor’s in risk management program can expect coursework that focuses primarily on data analysis. In such programs, students learn how to evaluate complex data (such as data gathered by analytics software) and gain insight from such data that others may not be able to see for themselves.
The primary focus is on quantitative information, and because of this, the most successful students in this program will be those with a strong grounding in the fundamentals of mathematics. Additionally, students will learn more about skills such as time management, communication, and problem-solving that will help them eventually land and keep jobs in the risk management field.
As with traditional undergraduate programs, full-time students typically complete this online degree in four years. Students who take on additional coursework (such as taking classes during the summer) may be able to complete everything in only three years. If students need more flexibility, though, almost all programs allow them to complete coursework at their own pace, which is great for remote learners balancing school and work.
Potential courses you’ll take in an online bachelor’s in risk management degree program
- Introduction to Contemporary Business. This course helps prepare students for the modern business world by providing extensive information on modern business discipline and the various issues contemporary businesses face. Students will also learn more about building a team, working as part of a team, and generally learning more about the modern problems they will eventually help contemporary businesses solve.
- Business Finance. Students will learn the basic structure of capital and how to secure the capital they need and make the most effective use of it for their own entrepreneurial interests and on behalf of others.
- Introduction to Risk and Insurance. This course helps students learn more about the highly interconnected worlds of risk management and insurance. Students will learn the basics of risk management and how insurance approaches risk, which can help graduates of this online program learn how to better advise the companies and executives they will work for in the future.
- Commercial Risk Management. This course helps students learn more about the property and liability risks organizations face and how to handle potential liability issues. Generally, course instruction is split between learning how to anticipate and mitigate potential risks and how to manage the financial consequences of things like slip-and-fall liability lawsuits.
Online Bachelor’s in Risk Management Frequently Asked Questions
How do I apply to an online bachelor’s in risk management degree program?
To apply to an online bachelor’s in risk management program, students must first find the application on the university website. It may be possible to submit the application directly, or the school may provide a link to an online application portal. At this time, students should check application details carefully to verify what may be required (including test scores, application essays, letters of recommendation, and so on).
If students have any questions about either the program or school, it’s worth contacting an admissions counselor who can answer these questions and verify that an application is complete.
How much does an online bachelor’s in risk management degree cost?
According to the National Center for Education Statistics, students can expect to pay an average of $26,800 for an online bachelor’s in risk management.
The exact cost could be higher or lower depending on the school: for example, attending an out-of-state school will mean paying more than attending an in-state school, and out-of-state students may end up paying much more for a program than in-state students. By carefully reviewing schools and applying to public institutions that won’t charge out-of-state tuition, online students can keep their costs low and avoid taking on more student debt than they are ready for.
How long does it take to earn an online bachelor’s in risk management degree?
Most online bachelor’s in risk management programs are designed to be completed within four years by full-time students.
Those attending part-time may take five or six years to complete their degree, depending on how many classes they take per semester. Conversely, students taking more classes per semester may complete everything in as little as three years, but students should only take on the academic course load they can handle. Ultimately, there is no benefit to rushing through classes and getting bad grades, especially because they may have to retake courses they fail.