The annual salary statistics of insurance underwriters in Worcester, Massachusetts is shown in Table 1. The wage information of insurance underwriters in Worcester is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $58,650 |
| 25th Percentile Wage | $70,150 |
| 50th Percentile Wage | $78,520 |
| 75th Percentile Wage | $104,240 |
| 90th Percentile Wage | $135,440 |
Table 1 shows the average annual salary for insurance underwriters in Worcester, Massachusetts in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $135,440. The median (50th percentile) annual salary is $78,520. The average annual salary for the bottom 10 percent earners is $58,650.
The table and chart below show the trend of the median salary of insurance underwriters from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $78,520 | -18.82% | 40.93% |
| 2021 | $93,300 | 11.38% | - |
| 2020 | $82,680 | 6.98% | - |
| 2019 | $76,910 | 5.98% | - |
| 2018 | $72,310 | 1.19% | - |
| 2017 | $71,450 | 0.87% | - |
| 2016 | $70,830 | 4.18% | - |
| 2015 | $67,870 | 12.45% | - |
| 2014 | $59,420 | 20.77% | - |
| 2013 | $47,080 | 1.49% | - |
| 2012 | $46,380 | - | - |
From Table 3 we note that the median annual salary of $78,520 in Worcester is in the middle of salary range for insurance underwriters in state of Massachusetts. In comparison, the annual salary of insurance underwriters in Worcester is 18.3 percent (18.3%) lower than that in the highest paying Boston-Cambridge-Quincy and 6.2 percent (6.2%) higher than that in the lowest paying Framingham.
| Cities/Areas | Median Annual Salary |
|---|---|
| Boston-Cambridge-Quincy | |
| Boston-Cambridge-Quincy | |
| Worcester | |
| Peabody | |
| Brockton-Bridgewater-Easton | |
| Springfield | |
| Framingham |