The annual salary statistics of insurance underwriters in Buffalo-Niagara Falls, New York is shown in Table 1. The wage data of insurance underwriters in Buffalo-Niagara Falls 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 | $52,650 |
| 25th Percentile Wage | $64,370 |
| 50th Percentile Wage | $81,240 |
| 75th Percentile Wage | $101,980 |
| 90th Percentile Wage | $125,180 |
Table 1 shows the average annual salary for insurance underwriters in Buffalo-Niagara Falls, New York in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $125,180. The median (50th percentile) annual salary is $81,240. The average annual salary for the bottom 10 percent earners is $52,650.
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 | $81,240 | -0.15% | 33.20% |
| 2021 | $81,360 | 3.44% | - |
| 2020 | $78,560 | 0.79% | - |
| 2019 | $77,940 | 8.12% | - |
| 2018 | $71,610 | -9.73% | - |
| 2017 | $78,580 | 30.59% | - |
| 2016 | $54,540 | -4.02% | - |
| 2015 | $56,730 | -11.07% | - |
| 2014 | $63,010 | 12.87% | - |
| 2013 | $54,900 | 1.15% | - |
| 2012 | $54,270 | - | - |
From Table 3 we note that the median annual salary of $81,240 in Buffalo-Niagara Falls is in the middle of salary range for insurance underwriters in state of New York. In comparison, the annual salary of insurance underwriters in Buffalo-Niagara Falls is 18.0 percent (18.0%) lower than that in the highest paying New York-Northern New Jersey-Long Island and 41.6 percent (41.6%) 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 |