The annual salary statistics of insurance underwriters in Madison, Wisconsin is shown in Table 1. The wage statistics of insurance underwriters in Madison 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 | $42,480 |
| 25th Percentile Wage | $62,680 |
| 50th Percentile Wage | $81,030 |
| 75th Percentile Wage | $101,800 |
| 90th Percentile Wage | $129,780 |
Table 1 shows the average annual salary for insurance underwriters in Madison, Wisconsin in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $129,780. The median (50th percentile) annual salary is $81,030. The average annual salary for the bottom 10 percent earners is $42,480.
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 | $81,030 | -0.21% | 32.07% |
| 2021 | $81,200 | 4.37% | - |
| 2020 | $77,650 | 11.87% | - |
| 2019 | $68,430 | 0.76% | - |
| 2018 | $67,910 | 5.70% | - |
| 2017 | $64,040 | -2.22% | - |
| 2016 | $65,460 | 6.16% | - |
| 2015 | $61,430 | 0.23% | - |
| 2014 | $61,290 | 2.59% | - |
| 2013 | $59,700 | 7.81% | - |
| 2012 | $55,040 | - | - |
From Table 3 we note that the median annual salary of $81,030 in Madison is in the middle of salary range for insurance underwriters in state of Wisconsin. In comparison, the annual salary of insurance underwriters in Madison is 17.0 percent (17.0%) lower than that in the highest paying South Central Wisconsin nonmetropolitan area and 51.1 percent (51.1%) higher than that in the lowest paying Southwestern Wisconsin nonmetropolitan area.