The annual salary statistics of insurance underwriters in Albany-Schenectady-Troy, New York is shown in Table 1. The wage statistics of insurance underwriters in Albany-Schenectady-Troy 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 | $47,000 |
| 25th Percentile Wage | $60,710 |
| 50th Percentile Wage | $73,880 |
| 75th Percentile Wage | $89,670 |
| 90th Percentile Wage | $120,340 |
Table 1 shows the average annual salary for insurance underwriters in Albany-Schenectady-Troy, New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $120,340. The median (50th percentile) annual salary is $73,880. The average annual salary for the bottom 10 percent earners is $47,000.
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 | $73,880 | -3.61% | 4.47% |
| 2021 | $76,550 | 13.55% | - |
| 2020 | $66,180 | -0.89% | - |
| 2019 | $66,770 | -6.90% | - |
| 2018 | $71,380 | -4.74% | - |
| 2017 | $74,760 | 1.12% | - |
| 2016 | $73,920 | 5.32% | - |
| 2015 | $69,990 | -14.02% | - |
| 2014 | $79,800 | 10.50% | - |
| 2013 | $71,420 | 1.18% | - |
| 2012 | $70,580 | - | - |
From Table 3 we note that the median annual salary of $73,880 in Albany-Schenectady-Troy is in the middle of salary range for insurance underwriters in state of New York. In comparison, the annual salary of insurance underwriters in Albany-Schenectady-Troy is 25.5 percent (25.5%) lower than that in the highest paying New York-Northern New Jersey-Long Island and 35.8 percent (35.8%) higher than that in the lowest paying Southwest New York nonmetropolitan area.
| Cities/Areas | Median Annual Salary |
|---|---|
| New York-Northern New Jersey-Long Island | |
| New York-White Plains-Wayne | |
| Utica-Rome | |
| Syracuse | |
| Buffalo-Niagara Falls | |
| Rochester | |
| Central East New York nonmetropolitan area | |
| Albany-Schenectady-Troy | |
| Nassau-Suffolk | |
| Central New York nonmetropolitan area | |
| Binghamton | |
| Ithaca | |
| Southwest New York nonmetropolitan area |