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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 2016 and published in April 2017 [1].

Table 1. Insurance Underwriter Salary in the United States

Percentile BracketAverage Annual Salary
10th Percentile Wage
$40,160
25th Percentile Wage
$51,290
50th Percentile Wage
$67,680
75th Percentile Wage
$91,780
90th Percentile Wage
$121,430

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 $121,430. The median annual salary (50th percentile) is $67,680. The average annual salary for the bottom 10 percent is $40,160. Notice that in the United States, the annual salary of the 90th percentile (the top 10 percent of the highest paid) is almost 202% higher than that of the bottom 10 percent.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of insurance underwriters from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
201667,6803.90%7.11%
201565,0401.26%-
201464,2200.69%-
201363,7801.43%-
201262,870--

Table 2. Insurance Underwriter Salary by Industry Sector

The average salaries of insurance underwriters in 8 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 professional, scientific, and technical services sector with an annual salary $72,050. The lowest paying sector is the real estate and rental and leasing sector (annual salary $50,340).

Industry Sector Median Annual Salary
Professional, Scientific, and Technical Services
$72,050
Other Services (except Federal, State, and Local Government)
$70,160
Finance and Insurance
$67,970
Federal, State, and Local Government
$65,550
Management of Companies and Enterprises
$65,230
Health Care and Social Assistance
$61,910
Administrative and Support and Waste Management and Remediation Services
$57,660
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 $41,550 to $83,220. The highest paying state for insurance underwriters is Maryland with a median annual salary of $83,220. The lowest paying state is Puerto Rico with a median annual salary of $41,550. For more salary information of insurance underwriters profession in a specific state, use the links in the table.

State Name Median Annual Salary
Maryland
$83,220
New Jersey
$82,540
New York
$80,250
Massachusetts
$78,680
South Dakota
$75,910
New Hampshire
$75,710
District of Columbia
$75,110
North Carolina
$74,110
Washington
$74,110
California
$72,620
Colorado
$71,940
Tennessee
$70,570
Pennsylvania
$70,170
Nevada
$70,050
Connecticut
$69,790
Illinois
$68,820
Arizona
$68,220
Rhode Island
$67,940
Missouri
$67,020
Delaware
$66,660
Texas
$66,210
Oregon
$65,610
Ohio
$64,700
Idaho
$64,360
Alaska
$64,220
Indiana
$63,970
Georgia
$62,710
Louisiana
$61,930
Iowa
$61,910
Minnesota
$61,460
Kansas
$61,260
Maine
$61,250
Montana
$61,180
Wisconsin
$61,110
New Mexico
$60,680
Virginia
$60,560
Michigan
$60,040
Mississippi
$59,890
Florida
$59,530
Utah
$59,520
Wyoming
$58,630
Hawaii
$58,240
North Dakota
$57,990
Vermont
$57,940
Nebraska
$55,770
Kentucky
$55,140
Oklahoma
$54,360
Alabama
$54,070
Arkansas
$51,160
South Carolina
$49,470
Guam
$44,190
West Virginia
$44,060
Puerto Rico
$41,550


Related:

Highest paying states for insurance underwriters

Highest paying cities for insurance underwriters

Highest paying industries for insurance underwriters.