Insurance underwriters

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2019 Workforce
118k
Average Age
43.6
Estimated Job Growth
-5.28%
10-year projection
Average Salary
$78,819
Average Male Salary
$95,778
Average Female Salary
$67,130

Employment

Information on the businesses and industries that employ Insurance underwriters and on wages and locations for those in the field. Insurance carriers is the industry that employs the most Insurance underwriters, both by share and by number, though the highest paid industry for Insurance underwriters, by average wage, is Lessors of real estate, and offices of real estate agents and brokers. Insurance underwriters are paid most in Morristown Town, Madison & Florham Park Boroughs PUMA, NJ but are relatively concentrated in Fulton County (North)Sandy Springs City PUMA, GA.

Wages

Yearly Wage

$78,819
AVERAGE SALARY
± $4,906

In 2019, Insurance underwriters earned an average of $78,819, $23,295 more than than the average national salary of $55,524.

Military officer special & tactical operations leaders make somewhat more than Insurance underwriters while Other psychologists make somewhat less. This chart shows the various occupations closest to Insurance underwriters as measured by average annual salary in the US.

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Wage Distribution

0.305
WAGE GINI

In 2015, Insurance underwriters had a wage GINI coefficient of 0.305, which is lower than than the national average of 0.478. In other words, wages are distributed more evenly for Insurance underwriters (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Insurance underwriters.

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Spatial Concentration

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Insurance underwriters.

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Industries

Most Common

The most common industries employing Insurance underwriters, by number of employees, are Insurance carriers, Agencies, brokerages, and other insurance related activities, and Banking & related activities.

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Industries by Share

118k
2019 Workforce
± 8,434
9.45%
1 YEAR GROWTH
± 9.44%

The number of people employed as Insurance underwriters has been growing at a rate of 9.45%, from 107,919 people in 2018 to 118,115 people in 2019.

This graphic shows the share of Insurance underwriters employed by various industries. Insurance carriers employs the largest share of Insurance underwriters at  73.8%, followed by Agencies, brokerages, and other insurance related activities with 14.9% and Banking & related activities with 2.27%.

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Diversity

Demographic information on Insurance underwriters in the US. The average age of male Insurance underwriters in the workforce is 41.7 and of female Insurance underwriters is 44.9, and the most common race/ethnicity for Insurance underwriters is White (Non-Hispanic).

Gender Composition

48.2k
MALE WORKFORCE
± 5,389
69.9k
FEMALE WORKFORCE
± 6,490

59.2% of Insurance underwriters are Female, making them the more common gender in the occupation. This chart shows the gender breakdown of Insurance underwriters.

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Race & Ethnicity

Most Common Race or Ethnicity of Insurance underwriters
  1. White (Non-Hispanic)
  2. Black (Non-Hispanic)
  3. Asian (Non-Hispanic)

73% of Insurance underwriters are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 11.4% of Insurance underwriters, Black (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Insurance underwriters.

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Age by Gender

41.7
AVERAGE MALE AGE
± 1.52
44.9
AVERAGE FEMALE AGE
± 1.15

The median age of Insurance underwriters is 43.6, and Male employees are generally 3.2 years younger than than their Female counterparts.

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Education

Data on higher education choices for Insurance underwriters from The Department of Education and Census Bureau. The most common major for Insurance underwriters is Business but a relatively high number of Insurance underwriters hold a major in Math & Statistics.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.
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Skills

Data on the critical and distinctive skills necessary for Insurance underwriters from the Bureau of Labor Statistics. Insurance underwriters need many skills, but most especially Active Listening, Critical Thinking, and Reading Comprehension. The revealed comparative advantage (RCA) shows that Insurance underwriters need more than the average amount of Writing, Mathematics, and Judgment and Decision Making.

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Bar Chart

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Growth Projections

Projections on wages and job growth for Insurance underwriters from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 6.85%, but Insurance underwriters are expected to see a growth of -5.28% over the same period. This occupation is expected to grow slower than the national average.

Job Growth

-5.28%
ESTIMATED GROWTH
6.85%
NATIONAL AVERAGE

This line chart shows the 10-year projected employment growth (from 2018 to 2028) for Insurance underwriters. This profession is expected to grow lower than 6.85%, the average rate of national job growth.

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