The annual salary statistics of insurance underwriters in Binghamton, New York is shown in Table 1. The wage statistics of insurance underwriters in Binghamton 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 | $38,250 |
| 25th Percentile Wage | $49,900 |
| 50th Percentile Wage | $63,640 |
| 75th Percentile Wage | $79,930 |
| 90th Percentile Wage | $98,750 |
Table 1 shows the average annual salary for insurance underwriters in Binghamton, New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $98,750. The median (50th percentile) annual salary is $63,640. The average annual salary for the bottom 10 percent earners is $38,250.
The table and chart below show the trend of the median salary of insurance underwriters from 2012 to 2021.
| Year | Median Salary | Yearly Growth | 9-Year Growth |
|---|---|---|---|
| 2021 | $63,640 | 2.58% | -0.47% |
| 2019 | $62,000 | 3.05% | - |
| 2018 | $60,110 | -5.29% | - |
| 2017 | $63,290 | 1.12% | - |
| 2016 | $62,580 | 4.44% | - |
| 2015 | $59,800 | 5.42% | - |
| 2014 | $56,560 | 3.98% | - |
| 2013 | $54,310 | -17.73% | - |
| 2012 | $63,940 | - | - |
From Table 3 we note that the median annual salary of $63,640 in Binghamton is in the middle of salary range for insurance underwriters in state of New York. In comparison, the annual salary of insurance underwriters in Binghamton is 35.8 percent (35.8%) lower than that in the highest paying New York-Northern New Jersey-Long Island and 25.4 percent (25.4%) higher than that in the lowest paying Southwest New York nonmetropolitan area.