This Week in Career Advice: How Much Do Insurance Underwriters Make?
This week, we’re reviewing what the standard insurance underwriter earns in 2017.
Know What You’re Worth: National Average
According to the Bureau of Labor Statistics, the median annual salary (ie the wage at which half the workers in an occupation earned either above or below) for insurance underwriters was $67,680 in May 2016. The lowest 10 percent earned less than $40,160 while the highest 10 percent earned more than $121,430 annually.
Average salaries in top industries include direct health and medical insurance carriers ($68,480), direct insurance (except life, health, and medical) carriers ($66,990), insurance agencies and brokerages ($66,690), and management of companies and enterprises ($65,230). Other insurance related activities not mentioned above averaged $64,720 annually.
Know What You’re Worth: By City
Broken down by skill-level and location, Salary.com offers the following salary information for insurance underwriters (Life):
New York, NY
Entry – $56,914
Mid-Level – $74,556
Senior – $81,616
Los Angeles, CA
Entry – $53,218
Mid-Level – $69,714
Senior – $91,655
Entry – $50,232
Mid-Level – $65,803
Senior – $86,513
Entry – $47,057
Mid-Level – $61,643
Senior – $81,045