Insurance underwriters

Detailed Occupation

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2020 Workforce

112k

Average Age

43.3

Estimated Job Growth

−6.19%

10-year projection

Average Salary

$79,954

Average Male Salary

$97,650

Average Female Salary

$69,888

About

Insurance underwriters are most often employed by the Insurance carriers industry. The average yearly wage for Insurance underwriters was $79,954 in 2020.

The locations that employ the most Insurance underwriters are McLean County PUMA, IL, Hartford County (North) PUMA, CT, and Forsyth County PUMA, GA. The locations with a relatively high concentration of Insurance underwriters are Hamilton & Fairfield Cities PUMA, OH, McLean County PUMA, IL, and Glastonbury, Newington, Wethersfield, Rocky Hill & Marlborough Towns PUMA, CT.

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

Employment and salary information for the Insurance underwriters workforce. Insurance underwriters workforce in 2020 was 112,191 people, of which 63.7% were women and 36.3% were men. Insurance underwriters are paid most in Edgewater, Uptown & Rogers Park PUMA, IL but are relatively concentrated in Hamilton & Fairfield Cities PUMA, OH.

Employment Over Time

Metric

Grouping

40,681

Male Workforce

± 4.95k

71,510

Female Workforce

± 6.56k

The Insurance underwriters workforce in 2020 was 112,191 people (63.7% women and 36.3% men). This implies an average annual growth of 7.22% between 2014 (104,641) and 2020 (112,191).

Employment by Location

Level

Metric

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

During 2020, the states that concentrated the best average annual wage were New Jersey ($121,783), District of Columbia ($121,316), and New York ($110,213).

Yearly Wage Ranking

$79,954

AVERAGE WAGE

#99 in the ranking (2020)

$55,954

NATIONAL AVERAGE WAGE

For all occupations across the US

In 2020, Insurance underwriters earned an average of $79,954, $24,001 more than the average national salary of $55,954

The graph shows the ranking of Insurance underwriters in relation to all Detailed Occupation in 2020.

Wage Distribution

Gender

0.336

WAGE GINI

In 2020, Insurance underwriters had a wage GINI coefficient of 0.336, which is lower 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).

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 ($143,409).

Occupations by Industries

Metric

Value

112k

2020 Workforce

± 8,220

1.94%

1 YEAR GROWTH

± 10.2%

This graphic shows the share of Insurance underwriters employed by various industries. Insurance carriers employs the largest share of Insurance underwriters at 80.3%, followed by Agencies, brokerages, and other insurance related activities with 16.9% and Banking & related activities with 2.77%.

Diversity

Demographic information on Insurance underwriters in the US. The workforce of Insurance underwriters in 2020 was 112,191 people, with 63.7% woman, and 36.3% men. The average age of male Insurance underwriters in the workforce is 41.2 and of female Insurance underwriters is 44.5, and the most common race/ethnicity for Insurance underwriters is White.

Gender and Age

Metric

The workforce of Insurance underwriters in 2020 was 112,191 people, with 63.7% woman, and 36.3% men.

The age ranges that concentrated the largest workforce were 35 to 39 years (15,719 people), 30 to 34 years (15,093 people), and 50 to 54 years (13,789 people). Among them they concentrated 39.9% of the total workforce.

Ethnicity

Gender

In 2020, 8.14% of Insurance underwriters workers were Hispanic and 91.9% non-Hispanic.

The treemap shows the distribution of Hispanic workers according to their origin, highlighting Mexican (71.5%), Puerto Rican (21.4)%, and Cuban (7.11)%

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

Races

In 2020, 79% of the Insurance underwriters workforce were White, of which 61.9% were women and 38.1% men. Other races that concentrated a significant number of workers were Black (10.6%) and Asian (5.05%).

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 2020 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 2020 (counting all academic degrees) were Business (30,475 people), Social Sciences (7,044 people), and Communications (3,574 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 (54,437 people), Some college (20,369 people), and Graduate Degree (13,474 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 3.71%, but Insurance Underwriters are expected to see a growth of −6.19% over the same period. This occupation is expected to grow less than the national average.

Job Growth

−6.19%

Estimated Job Growth

10-year Projection

3.71%

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 3.71%, the average rate of national job growth.