The Salary of a Fraud Investigator
Because of the potential for financial losses in large corporations and governmental agencies, most large organizations employ fraud investigators to ensure their customers and employees don't take advantage of lax oversight. Fraud investigators collect evidence from the field, from paper trails and from electronic sources to prevent unauthorized and unapproved use of resources.
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Average Annual Salary
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The average annual salary for fraud investigators who work in public and private organizations is $52,729 as of December 2010, according to Salary.com. Half of all workers employed as fraud investigators earn between $45,942 and $62,583 annually, with the best-paid 10 percent earning an average of $71,553 each year. To qualify for positions paying these salaries, an investigator must have a bachelor's degree and four years of investigations experience.
Experience and Salary
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Fraud investigators' salaries increase as they gain more experience in their position, with the potential to make twice as much at the end of their career as at the beginning. Fraud investigators with less than four years of experience typically earn salaries between $32,970 and $50,779 each year as of December 2010, according to PayScale. Those with five to nine years in the field earn annual salaries between $39,266 and $59,194, and those with more than 10 years in fraud investigation may expect annual salaries between $47,261 and $82,537.
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High-Paying Regions
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Salaries for fraud investigators partially depend on the area in which they are employed. Although many cities report average salaries for fraud investigators that are below $50,000 annually, those working in Charlotte, North Carolina, receive the highest average annual salary, $70,628, as of December 2010, according to Salary Expert. Those in Manhattan in New York City and in Chicago also earn noticeably more than others in the same field, with annual salaries of $64,875 and $54,233 respectively. The city with the lowest average annual salary, Nashville, Tennessee, reported average yearly earnings of $40,985 for fraud investigators.
Salary by Industry
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Although salaries for fraud investigators may vary widely, there is little variation among the industries that most commonly employ investigators. Fraud investigators in banking and financial services earn average salaries between $38,307 and $61,155 annually as of December 2010, according to PayScale. Those who work for insurance companies earn average salaries between $39,001 and $60,055 each year, while those in law enforcement bring home average salaries between $39,284 and $61,296 every year.
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