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 .
|Percentile Bracket||Average Annual Salary|
|10th Percentile Wage|| |
|25th Percentile Wage|| |
|50th Percentile Wage|| |
|75th Percentile Wage|| |
|90th Percentile Wage|| |
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.
The following table and chart show the trend of the median salary of insurance underwriters from 2012 to 2016.
|Year||Median Salary||Yearly Growth||4-Year Growth|
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|| |
|Other Services (except Federal, State, and Local Government)|| |
|Finance and Insurance|| |
|Federal, State, and Local Government|| |
|Management of Companies and Enterprises|| |
|Health Care and Social Assistance|| |
|Administrative and Support and Waste Management and Remediation Services|| |
|Real Estate and Rental and Leasing|| |
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|
|New Jersey|| |
|New York|| |
|South Dakota|| |
|New Hampshire|| |
|District of Columbia|| |
|North Carolina|| |
|Rhode Island|| |
|New Mexico|| |
|North Dakota|| |
|South Carolina|| |
|West Virginia|| |
|Puerto Rico|| |