The annual salary statistics of insurance underwriters in Grand Rapids-Wyoming, Michigan is shown in Table 1. The wage data of insurance underwriters in Grand Rapids-Wyoming 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 | $49,700 |
| 25th Percentile Wage | $62,800 |
| 50th Percentile Wage | $76,160 |
| 75th Percentile Wage | $84,210 |
| 90th Percentile Wage | $101,860 |
Table 1 shows the average annual salary for insurance underwriters in Grand Rapids-Wyoming, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $101,860. The median (50th percentile) annual salary is $76,160. The average annual salary for the bottom 10 percent earners is $49,700.
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 | $76,160 | -3.20% | 31.03% |
| 2021 | $78,600 | 2.74% | - |
| 2020 | $76,450 | 7.31% | - |
| 2019 | $70,860 | 0.45% | - |
| 2018 | $70,540 | 2.07% | - |
| 2017 | $69,080 | 15.76% | - |
| 2016 | $58,190 | 6.08% | - |
| 2013 | $54,650 | 3.88% | - |
| 2012 | $52,530 | - | - |
From Table 3 we note that with a median annual salary of $76,160, Grand Rapids-Wyoming is the highest paying city for insurance underwriters in state of Michigan, followed by Detroit-Warren-Livonia (median annual salary $66,360). In comparison, the median annual salary of insurance underwriters in Grand Rapids-Wyoming is 12.9 percent (12.9%) higher than that in Detroit-Warren-Livonia.
| Cities/Areas | Median Annual Salary |
|---|---|
| Grand Rapids-Wyoming | |
| Detroit-Warren-Livonia | |
| Lansing-East Lansing | |
| Balance of Lower Peninsula of Michigan nonmetropolitan area | |
| Kalamazoo-Portage | |
| Warren-Troy-Farmington Hills | |
| Detroit-Livonia-Dearborn | |
| Ann Arbor | |
| Flint | |
| Northwest Lower Peninsula of Michigan nonmetropolitan area |