The annual salary statistics of insurance underwriters in Virginia Beach-Norfolk-Newport News, Virginia is shown in Table 1. The wage information of insurance underwriters in Virginia Beach-Norfolk-Newport News 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 | $47,320 |
| 25th Percentile Wage | $50,710 |
| 50th Percentile Wage | $61,800 |
| 75th Percentile Wage | $80,590 |
| 90th Percentile Wage | $109,270 |
Table 1 shows the average annual salary for insurance underwriters in Virginia Beach-Norfolk-Newport News, Virginia in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $109,270. The median (50th percentile) annual salary is $61,800. The average annual salary for the bottom 10 percent earners is $47,320.
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 | $61,800 | 0.50% | 25.40% |
| 2021 | $61,490 | -7.27% | - |
| 2020 | $65,960 | 12.05% | - |
| 2019 | $58,010 | 3.53% | - |
| 2018 | $55,960 | 4.32% | - |
| 2017 | $53,540 | 7.83% | - |
| 2016 | $49,350 | -11.35% | - |
| 2015 | $54,950 | 6.01% | - |
| 2014 | $51,650 | 3.66% | - |
| 2013 | $49,760 | 7.36% | - |
| 2012 | $46,100 | - | - |
From Table 3 we note that the median annual salary of $61,800 in Virginia Beach-Norfolk-Newport News is in the middle of salary range for insurance underwriters in state of Virginia. In comparison, the annual salary of insurance underwriters in Virginia Beach-Norfolk-Newport News is 22.1 percent (22.1%) lower than that in the highest paying Charlottesville and 8.6 percent (8.6%) higher than that in the lowest paying Lynchburg.
| Cities/Areas | Median Annual Salary |
|---|---|
| Charlottesville | |
| Richmond | |
| Virginia Beach-Norfolk-Newport News | |
| Roanoke | |
| Lynchburg |