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Insurance Underwriter Salary Information

The salary statistics of insurance underwriters are shown in Table 1. In the next few tables we compare the average salaries of insurance underwriters within different industry sectors and in the 50 states of the United States. The insurance underwriters annual salary statistics are from the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1. Insurance Underwriter Salary in the United States

Percentile BracketAverage Annual Salary
10th Percentile Wage
$41,800
25th Percentile Wage
$52,880
50th Percentile Wage
$69,760
75th Percentile Wage
$94,100
90th Percentile Wage
$123,660

Table 1 shows the average annual salary for insurance underwriters. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) insurance underwriters is $123,660. The median annual salary (50th percentile) is $69,760. The average annual salary for the bottom 10 percent is $41,800. Note that in the United States, the annual salary of the 90th percentile (the top 10 percent of the highest paid) is almost 195% higher than that of the bottom 10 percent.

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
$69,760
2.98% 9.88%
2016
$67,680
3.90% -
2015
$65,040
1.26% -
2014
$64,220
0.69% -
2013
$63,780
1.43% -
2012
$62,870
- -

Table 2. Insurance Underwriter Salary by Industry Sector

The average salaries of insurance underwriters in 9 major industry sectors are shown in Table 2. We note that the salaries vary considerably within different industry sectors. The highest paying industry sector for insurance underwriters occupations is the wholesale trade sector with an annual salary $105,210. The lowest paying sector is the real estate and rental and leasing sector (annual salary $50,340).

Industry Sector Median Annual Salary
Wholesale Trade
$105,210
Other Services (except Federal, State, and Local Government)
$71,530
Finance and Insurance
$70,190
Health Care and Social Assistance
$69,250
Professional, Scientific, and Technical Services
$67,400
Federal, State, and Local Government
$66,560
Administrative and Support and Waste Management and Remediation Services
$62,620
Management of Companies and Enterprises
$61,600
Real Estate and Rental and Leasing
$50,340

Table 3. Median Annual Wage of Insurance Underwriters by States

From the above tables we note that not only insurance underwriters salaries vary considerably based on one's education and experience, and the industry sectors, they also change considerably from state to state. In the following table we compare the median salary of insurance underwriters in all 50 states of the United States. We note that the median annual salaries range from $32,940 to $83,960. The highest paying state for insurance underwriters is New Jersey with a median annual salary of $83,960. The lowest paying state is Guam with a median annual salary of $32,940. For more salary information of insurance underwriters profession in a specific state, use the links in the table.

State Name Median Annual Salary
New Jersey
$83,960
District of Columbia
$83,290
New York
$82,450
Massachusetts
$79,190
Maryland
$78,680
California
$77,870
Nevada
$77,680
New Hampshire
$77,320
South Dakota
$74,910
Georgia
$74,600
Colorado
$73,960
North Carolina
$73,770
Washington
$72,720
Rhode Island
$71,280
Illinois
$71,070
Ohio
$69,880
Connecticut
$69,570
Oregon
$69,320
Arizona
$68,610
Pennsylvania
$68,570
Indiana
$68,220
Delaware
$67,700
Tennessee
$67,280
Louisiana
$66,400
Kansas
$65,260
Mississippi
$65,050
Montana
$64,170
Virginia
$63,990
Maine
$63,160
Florida
$63,110
Wisconsin
$62,910
Iowa
$62,540
Utah
$62,470
Wyoming
$62,250
Missouri
$62,170
Nebraska
$61,850
Texas
$61,700
North Dakota
$61,620
Minnesota
$61,330
Hawaii
$61,320
Idaho
$60,950
New Mexico
$60,770
Michigan
$58,940
Kentucky
$57,910
Alabama
$57,100
Alaska
$56,010
Vermont
$54,600
Oklahoma
$52,110
South Carolina
$49,940
Arkansas
$48,650
West Virginia
$41,840
Puerto Rico
$37,710
Guam
$32,940



Related:

💰 Highest paying states for insurance underwriters

💰 Highest paying cities for insurance underwriters

💰 Highest paying industries for insurance underwriters.