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

 

Chicago, IL

Entry – $50,232

Mid-Level – $65,803

Senior – $86,513

 

Dallas, TX

Entry – $47,057

Mid-Level – $61,643

Senior –  $81,045

 

For more insurance underwriter salary information, visit www.insurancejobs.com.

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