2021 Annual Salary, Salary Range, and Highest Paying States and Industries
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Insurance Underwriters
Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Table of contents
- Average salary
- Starting salary
- Salary rank
- Salary range
- Highest paying states
- Highest paying industries
Average salary
Starting salary
Entry-level Insurance Underwriters with little to no experience can expect to make anywhere between $43,210 to $54,850 per year or $21 to $26 per hour. Similar to any other job, their salary will increase as they gain experience.
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Salary rank
We wanted to make it easy for our readers to compare the salary of Insurance Underwriters to all the other careers out there. So we created Salary Rank. We compared the salary of all careers then we gave them a rank of A, B, C, or D depending on where their average salary sit in comparison to other careers.
Salary range
| Level | Hourly | Annual |
|---|---|---|
| Highest (Top 10%) | $62 | $129,550 |
| Senior (Top 25%) | $47 | $97,820 |
| Middle (Mid 50%) | $35 | $71,790 |
| Junior (Bottom 25%) | $26 | $54,850 |
| No experience (Bottom 10%) | $21 | $43,210 |
Highest paying states
| State | Hourly | Annual |
|---|---|---|
| NY | $50 | $104,230 |
| DC | $48 | $99,560 |
| MA | $46 | $94,880 |
| CT | $43 | $90,030 |
| CO | $43 | $88,940 |
| DE | $43 | $88,860 |
| KS | $43 | $88,560 |
| NJ | $41 | $86,000 |
| WA | $41 | $85,610 |
| CA | $41 | $84,610 |
Another simple way to increase your salary as an Insurance Underwriter is to move to a higher paying state. However moving to a higher paying state like NY doesn’t guarantee that you will make more because the expenses at NY might be much higher than where you are currently living at right now.
According to BLS, the highest paid Insurance Underwriters are in the states of NY, DC, MA, CT and CO.
Highest paying industries
| Salary by industry | Annual | Hourly |
|---|---|---|
| Securities, Commodity Contracts, and Other Financial Investments and Related Activities | $100770 | $48.45 |
| Accounting, Tax Preparation, Bookkeeping, and Payroll Services | $88060 | $42.34 |
| Office Administrative Services | $86690 | $41.68 |
| Insurance and Employee Benefit Funds | $85410 | $41.06 |
| Legal Services | $84960 | $40.85 |
| Insurance Carriers | $81590 | $39.22 |
| Nondepository Credit Intermediation | $80990 | $38.94 |
| Management, Scientific, and Technical Consulting Services | $79910 | $38.42 |
| Agencies, Brokerages, and Other Insurance Related Activities | $79240 | $38.10 |
| Credit Intermediation and Related Activities | $76850 | $36.95 |
| Business, Professional, Labor, Political, and Similar Organizations | $76210 | $36.64 |
| Management of Companies and Enterprises | $74770 | $35.95 |
| Employment Services | $72160 | $34.69 |
| Local Government | $72000 | $34.61 |
| State Government | $67630 | $32.51 |
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