How much does a insurance underwriter make?
The median insurance underwriter in the United States earns $81,370 per year, about $39.12 an hour. That is the midpoint of the profession: half of all insurance underwriters earn more, and half earn less.
Source: BLS OEWS, May 2025. SOC code 13-2053.
Insurance underwriter salary range
Pay for insurance underwriters spans a wide band. The lowest paid 10 percent earn under $55,530 a year, while the highest paid 10 percent take home more than $145,160. The average (mean) wage of $93,700 runs a bit higher than the median, which is normal for jobs where a group of top earners pulls the average up.
| Percentile | Annual | Hourly | |
|---|---|---|---|
| 10th percentile | $55,530 | $26.70 | Lowest paid |
| 25th percentile | $64,620 | $31.07 | |
| Median (50th) | $81,370 | $39.12 | Midpoint |
| 75th percentile | $110,390 | $53.07 | |
| 90th percentile | $145,160 | $69.79 | Highest paid |
Figures are national wage estimates for insurance underwriters (SOC 13-2053), U.S. Bureau of Labor Statistics, OEWS, May 2025.
Insurance underwriter salary by state
Where you work changes the paycheck. Insurance underwriters earn the most in Massachusetts at $106,640 a year, and the least in Mississippi at $59,250. The table below lists every state with published data, ranked by median annual salary.
| State | Median annual | Employed |
|---|---|---|
| Massachusetts | $106,640 | 2,890 |
| New Hampshire | $103,940 | 270 |
| Nevada | $101,440 | 480 |
| Connecticut | $100,690 | 2,010 |
| Colorado | $100,640 | 2,040 |
| Washington | $99,400 | 1,740 |
| New York | $97,450 | 6,900 |
| Wisconsin | $97,370 | 3,110 |
| New Jersey | $96,220 | 3,150 |
| Maine | $95,510 | 520 |
| California | $95,320 | 6,580 |
| Maryland | $92,120 | 1,310 |
| Illinois | $89,620 | N/A |
| Georgia | $85,980 | 7,160 |
| Rhode Island | $84,720 | 250 |
| South Dakota | $83,130 | 210 |
| Arkansas | $82,130 | 290 |
| District of Columbia | $82,070 | N/A |
| Virginia | $81,870 | 2,470 |
| Alaska | $81,620 | 100 |
| Minnesota | $80,700 | 2,550 |
| Missouri | $80,040 | 2,130 |
| Kentucky | $79,830 | 900 |
| South Carolina | $79,570 | 910 |
| Ohio | $79,260 | 5,110 |
| Oregon | $79,200 | 570 |
| Pennsylvania | $78,950 | 5,160 |
| Texas | $78,890 | 9,980 |
| Tennessee | $78,840 | 1,250 |
| Florida | $78,720 | 7,300 |
| Vermont | $77,990 | 210 |
| Arizona | $77,740 | 3,360 |
| Indiana | $77,440 | 2,170 |
| Michigan | $77,380 | 2,590 |
| North Carolina | $77,120 | 3,460 |
| Kansas | $77,070 | 1,230 |
| Louisiana | $76,540 | 1,050 |
| Iowa | $75,160 | 1,490 |
| Nebraska | $75,120 | 1,410 |
| North Dakota | $74,130 | 210 |
| Hawaii | $73,260 | 230 |
| Utah | $72,730 | 490 |
| Oklahoma | $66,770 | 600 |
| New Mexico | $64,000 | 100 |
| Montana | $63,140 | 140 |
| Idaho | $62,530 | 360 |
| Wyoming | $62,290 | 50 |
| Alabama | $62,220 | 1,540 |
| Mississippi | $59,250 | 600 |
State median wages for insurance underwriters (SOC 13-2053), U.S. Bureau of Labor Statistics, OEWS state files, May 2025. States where the BLS does not publish a median are not shown.
Job outlook for insurance underwriters
The BLS projects employment of insurance underwriters to shrink from 2025 to 2035 (down 3.8%). That is a decline, against 3.5% average growth for all occupations. That works out to roughly 125,600 jobs in 2025 moving toward 120,800 by 2035.
Across the decade, the BLS expects about 6,800 openings a year for insurance underwriters. Most come from the need to replace workers who move to other jobs or leave the workforce, on top of any new positions from growth.
Source: U.S. Bureau of Labor Statistics, Employment Projections program, 2025-35 (Table 1.2, Occupational projections and worker characteristics).
How to become an insurance underwriter
The typical entry-level education for insurance underwriters is a bachelor's degree, according to the BLS. New hires typically complete moderate-term on-the-job training to reach full competency.
Education, training, and experience data: U.S. Bureau of Labor Statistics, Employment Projections program.
What affects how much an insurance underwriter earns
Firm size, industry, certifications, and years of experience drive the spread. Large firms and major financial centers pay well above small-town or entry-level roles.
Location is one of the clearest factors. The gap between the top paying state (Massachusetts, $106,640) and the lowest (Mississippi, $59,250) shows how much geography alone can move the number, before experience or specialization.
About 105,420 people work as insurance underwriters in the United States. At $81,370 a year, the job pays above the $50,980 median for all U.S. jobs.
Insurance underwriter salary FAQ
How much does an insurance underwriter make an hour?
The median hourly wage for an insurance underwriter is $39.12. The middle half of insurance underwriters earn between $31.07 and $53.07 per hour.
What is the highest insurance underwriter salary?
The highest paid 10 percent of insurance underwriters earn more than $145,160 per year. Top earners usually have the most experience and work in the best paying regions and industries.
How much does an insurance underwriter make a year?
The median annual salary for an insurance underwriter is $81,370. The average (mean) wage of $93,700 runs a bit higher than the median, which is normal for jobs where a group of top earners pulls the average up.
Is being an insurance underwriter a well paid job?
At $81,370 a year, an insurance underwriter earns above the $50,980 median for all U.S. jobs. About 105,420 people work as insurance underwriters in the United States.
Which state pays insurance underwriters the most?
Massachusetts has the highest median salary for insurance underwriters at $106,640 a year. New Hampshire ($103,940) and Nevada ($101,440) follow. State medians come from the BLS OEWS state files, May 2025.
Is being an insurance underwriter a good career?
Employment of insurance underwriters is projected to shrink 3.8% from 2025 to 2035, a decline, against 3.5% average growth for all occupations. The BLS projects about 6,800 openings each year, from growth and from workers leaving the occupation.
Do you need a degree to become an insurance underwriter?
The BLS lists the typical entry-level education for insurance underwriters as a bachelor's degree, so a college degree is usually expected.
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