Insurance Underwriter Salary Information in Minnesota

The average annual and hourly salaries for insurance underwriters in the state of Minnesota are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of insurance underwriters amongst Minnesota areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1 & 2. Annual & Hourly Salary of Insurance Underwriters in Minnesota

Percentile BracketAverage Annual Salary
10th Percentile Wage
$44,080
25th Percentile Wage
$53,000
50th Percentile Wage
$61,330
75th Percentile Wage
$81,670
90th Percentile Wage
$99,100

Table 1 shows the average annual salary for insurance underwriters in Minnesota in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $99,100. The median (50th percentile) annual salary is $61,330. The average annual salary for the bottom 10 percent is $44,080.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of insurance underwriters from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$61,330
-0.21% 3.96%
2016
$61,460
0.07% -
2015
$61,420
1.66% -
2014
$60,400
0.13% -
2013
$60,320
2.35% -
2012
$58,900
- -

Table 3. Median Annual Salary of Insurance Underwriters in Minnesota Cities

Table 3 shows the median annual salary of insurance underwriters in some Minnesota cities and metropolitan areas. We note that the median annual salary of insurance underwriters in state of Minnesota ranges from $46,050 to $63,050. The highest paying area for insurance underwriters in Minnesota is Southwest Minnesota nonmetropolitan area with a median annual salary of $63,050. The second highest paying city/area in Minnesota State is Rochester (mean annual salary $52,850). The lowest paying area is Southeast Minnesota nonmetropolitan area with a median annual salary of $46,050.

Cities/Areas Median Annual Salary
Southwest Minnesota nonmetropolitan area
$63,050
Rochester
$52,850
Southeast Minnesota nonmetropolitan area
$46,050




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