occupational hazard vs peril

occupational hazard and peril both are nouns.

Word	Noun	Adjective	Verb	Adverb
occupational hazard	Yes	No	No	No
peril	Yes	No	Yes	No

As nouns, peril is a hypernym of occupational hazard; that is, peril is a word with a broader meaning than occupational hazard:

occupational hazard: any condition of a job that can result in illness or injury
peril: a source of danger; a possibility of incurring loss or misfortune

Other hypernyms of occupational hazard include endangerment, hazard, jeopardy, risk.

occupational hazard (noun)	peril (noun)
any condition of a job that can result in illness or injury	a venture undertaken without regard to possible loss or injury
	a source of danger; a possibility of incurring loss or misfortune
	a state of danger involving risk

occupational hazard (verb)	peril (verb)
	put in a dangerous, disadvantageous, or difficult position
	pose a threat to; present a danger to