Insurance underwriters

Detailed Occupation

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2024 Workforce

131k

Average Age

43.3

Estimated Job Growth

−2.6%

10-year projection

Average Salary

$96,848

Average Male Salary

$115,746

Average Female Salary

$85,440

About

Insurance underwriters are most often employed by the Insurance carriers industry. The average yearly wage for Insurance underwriters was $96,848 in 2024.

The locations that employ the most Insurance underwriters are McLean County--Bloomington City & Normal Town PUMA, IL, Capitol West PUMA, CT, and Sarpy County--Bellevue City PUMA, NE. The locations with a relatively high concentration of Insurance underwriters are McLean County--Bloomington City & Normal Town PUMA, IL, Capitol West PUMA, CT, and Glastonbury, Wethersfield, Rocky Hill & Newington Towns PUMA, CT.

Management, business, & financial occupations Management, business, science, & arts occupations Business & financial operations occupations

Employment

Employment and salary information for the Insurance underwriters workforce. Insurance underwriters workforce in 2024 was 130,858 people, of which 62.4% were women and 37.6% were men.

Insurance underwriters are paid most in Chicago City (North)--Uptown, Edgewater & Rogers Park PUMA, IL but are relatively concentrated in McLean County--Bloomington City & Normal Town PUMA, IL.

Employment Over Time

Metric

Grouping

49,258

Male Workforce

± 5.45k

81,600

Female Workforce

± 7.01k

The Insurance underwriters workforce in 2024 was 130,858 people (62.4% women and 37.6% men). This implies an average annual growth of 24.7% between 2014 (104,942) and 2024 (130,858).

Employment by Location

Level

Metric

This map shows the states in the United States shaded by average wage for Insurance underwriters.

During 2024, the states that concentrated the best average annual wage were New York ($132,076), District of Columbia ($130,899), and New Jersey ($129,766).

Yearly Wage Ranking

$96,848

AVERAGE WAGE

#92 in the ranking (2014)

$69,878

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2024, Insurance underwriters earned an average of $96,848, $26,970 more than the average national salary of $69,878

The graph shows the ranking of Insurance underwriters in relation to all Detailed Occupation in 2014.

In 2024, Insurance underwriters had a wage GINI coefficient of 0.331, which is lower than the national average of 0.474. In other words, wages are distributed more evenly for Insurance underwriters (shown in red) than for the overall labor force (shown in gray).

The graphic shows the distribution of average salaries by buckets for Insurance underwriters compared to the entire workforce in the country.

Industry

Information on the industries that employ Insurance underwriters and on wages 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 ($158,383).

Occupations by Industries

Metric

Value

131k

2024 Workforce

± 8,878

1.14%

1 YEAR GROWTH

± 9.51%

This graphic shows the share of Insurance underwriters employed by various industries. Insurance carriers employs the largest share of Insurance underwriters at 65.5%, followed by Agencies, brokerages, and other insurance related activities with 30.1% and Nondepository credit & related activities with 2.4%.

Diversity

Demographic information on Insurance underwriters in the US. The workforce of Insurance underwriters in 2024 was 130,858 people, with 62.4% woman, and 37.6% men. The average age of male Insurance underwriters in the workforce is 41.1 and of female Insurance underwriters is 44.7, and the most common race/ethnicity for Insurance underwriters is White.

Gender and Age

Metric

The workforce of Insurance underwriters in 2024 was 130,858 people, with 62.4% woman, and 37.6% men.

The age ranges that concentrated the largest workforce were 30 to 34 years (18,045 people), 35 to 39 years (17,630 people), and 40 to 44 years (16,143 people). Among them they concentrated 39.7% of the total workforce.

Ethnicity

Gender

In 2024, 9.05% of Insurance underwriters workers were Hispanic and 91% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (44.9%), Puerto Rican (20.7)%, and Cuban (5.34)%

You can review this information by gender using the selectors above.

Races

In 2024, 73% of the Insurance underwriters workforce were White, of which 59.8% were women and 40.2% men. Other races that concentrated a significant number of workers were Black (11.9%) and Two or More Races (7.35%).

Education & Skills

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 the most specialized major according to RCA in 2024 were Math & Statistics.

Among the necessary skills for Insurance underwriters, Active Listening stands, but the revealed comparative advantage (RCA) shows that Insurance underwriters need more than the average amount of Writing.

Majors

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

Type of Majors

Degree

The most common majors achieved by Insurance underwriters in 2024 (counting all academic degrees) were Business (34,862 people), Social Sciences (9,064 people), and Psychology (4,208 people).

You can review this information for different academic grades by modifying the option selected in the selector above.

Education Levels

Metric

The main educational levels achieved by the Insurance underwriters workers were Bachelors Degree (64,881 people), Some college (22,548 people), and Graduate Degree (16,146 people).

The graphic shows the Insurance underwriters workforce by gender and educational level.

Skills

Chart

Value

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, Reading Comprehension.

Projections

Projections on job growth for Insurance Underwriters from the Bureau of Labor Statistics. The 10-year national workforce is projected to grow 3.07%, but Insurance Underwriters are expected to see a growth of −2.6% over the same period. This occupation is expected to grow less than the national average.

Job Growth

−2.6%

Estimated Job Growth

10-year Projection

3.07%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Insurance underwriters. This profession is expected to grow less than than 3.07%, the average rate of national job growth.