Uses computer models of hurricanes, earthquakes, wildfires and floods to estimate how much insurers could lose in a disaster. BLS does not publish separate figures for financial risk specialists; it counts them within financial risk specialist (SOC 13-2054), whose median pay is $117,330 a year (BLS OEWS, May 2025). Typical entry-level education: Bachelor's degree.
- SOC 13-2054
- Business and Financial Operations
- Last updated October 9, 2026
At a glance
Catastrophe Modeler in four numbers
- Median pay
- $117,330a year, or $56.41/hrBLS OEWS, May 2025Lowest 10% $65KTop 10% $196K
US median, all jobs: $50,980
- Projected growth
- +7.4%Much faster than averageBLS EP, 2025–2035This career+7.4%All jobs+3.5%
Projected employment change, 2025–2035 Item Value This career +7.4% All jobs +3.5% - Openings a year
- 4,80066,000 jobs todayBLS EP, 2025–2035
- Jobs in 202566K
- Projected 203570.8K
Employment, 2025–2035 Item Value Jobs in 2025 66K Projected 2035 70.8K - Typical education
- Bachelor'sneeded to enterBLS EP, 2025–2035; mix: O*NET
Also advertised as: Cat Modeler, Catastrophe Risk Analyst, Catastrophe Modeling Analyst, Natural Catastrophe Analyst, Cat Risk Manager.
Pay
How much do Financial Risk Specialists make?
Every catastrophe modeler in the US, by percentile of annual wage
Median
$117,330
Middle half earn $83,980 to $158,250
- 10th
- $64,820
- 25th
- $83,980
- 75th
- $158,250
- 90th
- $196,110
All US occupations: $50,980
| Percentile | Value |
|---|---|
| 10th | $64,820 |
| 25th | $83,980 |
| Median | $117,330 |
| 75th | $158,250 |
| 90th | $196,110 |
| All US occupations | $50,980 |
Source: BLS OEWS, May 2025
- Median annual wage
- $117,330
- Median hourly wage
- $56.41/hr
- Mean annual wage
- $124,420
- People employed
- 63,850
Versus all US occupations
At $117,330, Financial Risk Specialists earn 130% above the $50,980 median across all US occupations, a difference of $66,350 a year.
Versus business and financial operations occupations
Inside the Business and Financial Operations group, where the middle occupation pays $80,730, this is 45% above the group median.
Pay range
The top 10% earn $196,110 or more while the bottom 10% earn $64,820, a gap of 3.0×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 84% of the 1,741 occupations in the NueCareer career bank.
Highest-paying state
New Hampshire pays the most at $158,320, and still leads at $151,990 once local prices are taken into account.
Pay by state
Which states pay Financial Risk Specialists the most?
State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| 1New Hampshire | $158,320 | $151,990 | 300 |
| 2Maine | $141,020 | $145,307 | N/A |
| 3Delaware | $139,440 | $139,708 | 1,160 |
| 4New York | $136,830 | $126,787 | 12,060 |
| 5North Carolina | $132,040 | $139,983 | 3,200 |
| 6Massachusetts | $130,400 | $123,302 | 1,440 |
| 7New Jersey | $129,220 | $118,763 | 2,760 |
| 8California | $129,110 | $116,609 | 5,740 |
| 9Virginia | $126,510 | $125,129 | 1,770 |
| 10Washington | $123,150 | $115,079 | 900 |
Job outlook
Is Catastrophe Modeler a growing career?
Employment change over 2025–2035, against every US occupation
Much faster than average. +7.4% projected growth vs 3.5% for all occupations.
| Item | Value |
|---|---|
| Financial Risk Specialists | +7.4% |
| All US occupations | +3.5% |
Source: BLS EP, 2025–2035
Much faster than average
BLS projects employment of Financial Risk Specialists to change 7.4% over 2025–2035, roughly 2.1× the 3.5% projected for all occupations. That is 4,900 more jobs.
Annual openings
About 4,800 openings are projected each year, 7.3% of the 66,000 jobs that existed in 2025. Most come from workers leaving the occupation, not from growth alone.
Getting in
How to become a Catastrophe Modeler
A bachelor's degree in mathematics, statistics, actuarial science, geography, geology, meteorology, engineering or a related field is typical. Some modelers have master's degrees in atmospheric science or earth science.
Most start as analysts at insurers, reinsurers, brokers or modeling vendors and learn vendor platforms on the job. Skills in SQL, Python, R and GIS are valuable. Actuarial exams from the Casualty Actuarial Society or risk credentials like GARP's Sustainability and Climate Risk certificate can help with advancement.
- 1
Typical entry-level education
Bachelor's degree
- 2
Work experience in a related occupation
None
- 3
Typical on-the-job training
None
- 4
Preparation needed (O*NET job zone)
Medium preparation
BLS Employment Projections, 2025–2035; job zone from O*NET 31.0 Database.
The work
What does a Catastrophe Modeler do?
Catastrophe modelers help insurers, reinsurers and brokers understand their exposure to natural disasters. They take portfolios of insured properties, clean and code the data, and run them through catastrophe models that simulate thousands of possible events.
The results show the probable losses from a severe hurricane season or a major earthquake, which drive pricing, reinsurance purchases, capital requirements and ratings. Modelers explain where results come from, adjust for model weaknesses, and compare vendor models from firms such as Verisk and Moody's. Some build in-house models for perils like wildfire, severe convective storms, or cyber events, and they respond quickly when a real disaster strikes to estimate losses.
Day-to-day tasks
- Prepare and validate insured property exposure data
- Run catastrophe model analyses for portfolios
- Estimate probable maximum losses for disaster scenarios
- Compare results across vendor models
- Support reinsurance pricing and purchasing decisions
- Estimate losses after real catastrophe events
- Communicate model results and limitations to underwriters
Typical tasks, researched by NueCareer from the sources below.
Working conditions and hours
Catastrophe modelers work in offices or remotely for insurers, reinsurers, brokers and model vendors. Hours are regular most of the year but intense around reinsurance renewals and immediately after major disasters, when companies need loss estimates fast.
Tools and software
- Accounting software · in demand
- Analytical or scientific software · in demand
- Business intelligence and data analysis software · in demand
- Content workflow software · in demand
- Customer relationship management CRM software · in demand
- Data base management system software · in demand
- Data base reporting software · in demand
- Data base user interface and query software · in demand
- Development environment software · in demand
- Document management software · in demand
- Electronic mail software · in demand
- Enterprise resource planning ERP software · in demand
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
Personality fit
What personality type suits a Catastrophe Modeler?
NueCareer estimate (Holland code ICR) built on O*NET's Financial Risk Specialist profile, scored 1 to 7
| Axis | Catastrophe Modeler |
|---|---|
| Realistic | 3 |
| Investigative | 5 |
| Artistic | 1 |
| Social | 2 |
| Enterprising | 5 |
| Conventional | 5 |
Source: O*NET 31.0 Database
What the work is built around
Day to day this is work built around organising, following procedures and working precisely with data, combined with investigating, analysing and solving problems with ideas and data.
- Conventional5.4
- Investigative5.3
- Enterprising4.7
- Realistic2.6
- Social2.5
- Artistic1.3
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Explore further
Careers related to Catastrophe Modeler
O*NET related occupations
- Business and Financial Operations
- Business and Financial Operations
- Business and Financial Operations
- Management
- Business and Financial Operations
- Business and Financial Operations
More business and financial operations careers
Median annual pay, with financial risk specialists highlighted
- Catastrophe Modeler$117,330
- Financial Advisor$105,070
- Accountant$83,680
- Insurance Underwriter$81,370
- Coroner$80,730
- Claims Adjuster, Examiner, and Investigator$78,000
- Loan Officer$76,690
- Human Resources Specialist$75,940
- Appraiser and Assessor of Real Estate$67,960
| Item | Value |
|---|---|
| Catastrophe Modeler | $117,330 |
| Financial Advisor | $105,070 |
| Accountant | $83,680 |
| Insurance Underwriter | $81,370 |
| Coroner | $80,730 |
| Claims Adjuster, Examiner, and Investigator | $78,000 |
| Loan Officer | $76,690 |
| Human Resources Specialist | $75,940 |
| Appraiser and Assessor of Real Estate | $67,960 |
Source: BLS OEWS, May 2025
Lists Catastrophe Modeler appears on
Questions
Catastrophe Modeler: frequently asked questions
How much do Financial Risk Specialists make?
BLS does not publish a separate wage for financial risk specialists. It counts them within financial risk specialist, whose median pay is $117,330 a year (BLS OEWS, May 2025). The middle half of that occupation earn between $83,980 and $158,250, and the top 10% earn $196,110 or more.
Do you need a degree to become a Catastrophe Modeler?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Financial Risk Specialists, and O*NET rates the preparation needed as medium preparation.
Is Catastrophe Modeler a growing career?
Yes, strongly. Employment is projected to grow 7.4% over 2025–2035, more than double the 3.5% projected for all occupations (BLS EP, 2025–2035). BLS still projects about 4,800 openings a year, mostly from workers retiring or moving to other work.
What does a Catastrophe Modeler do?
Catastrophe modelers help insurers, reinsurers and brokers understand their exposure to natural disasters. A typical task: prepare and validate insured property exposure data. Employers most often ask for Accounting software, Analytical or scientific software, Business intelligence and data analysis software.
Which states pay Financial Risk Specialists the most?
The highest state medians for Financial Risk Specialists are New Hampshire ($158,320), Maine ($141,020), Delaware ($139,440) (BLS OEWS, May 2025).
What personality type suits a Catastrophe Modeler?
O*NET scores Financial Risk Specialists highest on the Conventional, Investigative and Enterprising interest areas, so the work mixes organising, following procedures and working precisely with data with investigating, analysing and solving problems with ideas and data. On NueCareer's MBTI-to-interest mapping the closest types are ISTJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 1,731 careers in the bank.