Insurance Underwriter Salary 2025: $81,370 Median, Decline Ahead
The median Insurance Underwriter earned $81,370 in 2024, according to the Bureau of Labor Statistics. The mean wage was $93,700, or roughly $39 per hour. The bottom 10% made $55,530 or less, while the top 10% brought home $145,160. Those figures come from the BLS Occupational Employment and Wage Statistics (OEWS).
How much Insurance Underwriters earn
Pay varies widely by experience and location. The typical range spans from $55,530 at the 10th percentile to $145,160 at the 90th. Salaries tend to be highest in states with a high cost of living and a dense insurance industry presence.
Bonuses and profit sharing can add 5% to 20% on top of base pay, but BLS data reflects base wages only.
Pay by state
Massachusetts tops the list at $106,640 average, followed by New Hampshire ($103,940), Nevada ($101,440), Connecticut ($100,690), and Colorado ($100,640). These states typically have strong insurance hubs or high living costs.
Lower-paying states include Wyoming ($62,290), Alabama ($62,220), and Mississippi ($59,250). Relocation or remote work can lift earnings significantly.
How to become Insurance Underwriter
Most underwriters have a bachelor’s degree in business, finance, economics, or a related field. Some employers accept an associate degree plus experience.
Entry-level roles often start as underwriter assistants or trainees, where you learn to evaluate risk using software and guidelines.
- 1. Earn a bachelor's degree (business, finance, or accounting preferred).
- 2. Apply for a trainee or assistant underwriter position.
- 3. Obtain professional certification, such as the Chartered Property Casualty Underwriter (CPCU) or Associate in Commercial Underwriting (AU), to advance.
- 4. Typically takes 2-4 years to become fully independent.
Job outlook
Employment of insurance underwriters is projected to decline 2.6% from 2024 to 2034. That means about 8,200 openings per year, mostly to replace workers leaving the field. Automation is replacing routine decision-making, but complex risk assessment still needs human judgment.
Specialized underwriters in health or complex commercial lines may see steadier demand.
Frequently asked questions
What is the average salary for an Insurance Underwriter in 2025?
The median salary is $81,370 (mean $93,700). Typical entry-level pay is around $55,530, and experienced professionals can earn over $145,160.
How do I become an Insurance Underwriter?
You generally need a bachelor's degree in business or finance. Many start as trainees or assistants and earn certifications like CPCU or AU to advance.
Is insurance underwriting a growing career?
No, employment is expected to decline 2.6% through 2034 due to automation. However, about 8,200 openings per year arise from turnover, particularly for specialized roles.
Salary figures are U.S. Bureau of Labor Statistics estimates (OEWS / Employment Projections). For informational purposes only; not career or financial advice. See the full Insurance Underwriters data.