Loan Officers
Median wage · national
$76,690
Range: $53K – $104K
Employed
274K
Openings/yr
17K
Typically: bachelor's degree
BUSINESS
Insurance Underwriters
Insurance Underwriters earn $81,370 nationally at the median. The middle 50% of workers fall between $64,620 and $110,390. Where you land depends on specialization, employer, and experience.
About Insurance Underwriters
This page sets out what the federal data says about working as a insurance underwriters: what the job pays, how fast it is growing, and what it takes to get in. Most people arrive through a degree in Business Administration and what it leads to, though it is not the only route.
Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- Median Wage
- $81,370
- Employed Nationally
- 105K
- Openings / Year
- 6,800
- Entry Education
- Bachelor's degree
- Job Zone
- Zone 4: Considerable Preparation
Also known as:
Account Manager Underwriter
Account Underwriter
Automobile and Property Underwriter
Bond Underwriter
Casualty Underwriter
How Much Do Insurance Underwriters Make?
Most insurance underwriters take home around $81,370 a year, above what most college graduates make. Half earn somewhere between $64,620 and $110,390, so where you land depends a lot on employer, specialty and city. A solid living in most parts of the country. Source: BLS.
A wage on its own says nothing about whether the degree behind it pays for itself, which is a question of lifetime earnings set against the total cost of getting there.
$81,370
National Median (Annual)
Above the national median for college graduates.
$65K–$110K
Middle 50% Range
25th to 75th percentile. Most workers earn within this band.
Earnings Range
$64,620
Entry-level
$81,370
Median
$110,390
Experienced
The mean wage for this occupation is $93,700, above the median. A concentration of very high earners pulls the average up. The median is the better gauge of typical pay.
What Do Insurance Underwriters Do?
This is what the job actually looks like on a Tuesday: 5 core activities and 5 skills the work depends on. Read it before the salary, because pay matters less than whether you would want to spend your days doing this. Source: O*NET.
What You'll Do
- Examine documents to determine degree of risk from factors such as applicant health, financial standing and value, and condition of property.
- Decline excessive risks.
- Write to field representatives, medical personnel, or others to obtain further information, quote rates, or explain company underwriting policies.
- Evaluate possibility of losses due to catastrophe or excessive insurance.
- Review company records to determine amount of insurance in force on single risk or group of closely related risks.
Core Skills Employers Look For
Reading Comprehension
Active Listening
Writing
Critical Thinking
Speaking
Who Thrives Here
C
Conventional
Success depends on precision and structured processes, where detail-oriented people who work consistently within established systems perform best.
E
Enterprising
Leadership, influence, and business acumen are rewarded here, where managing teams, driving decisions, or persuading others shapes career outcomes.
I
Investigative
This career demands analytical thinking: researching problems, interpreting data, and applying logical reasoning to find practical solutions.
Where Do Insurance Underwriters Work?
What the physical and mental conditions of this job actually look like day to day, based on O*NET Work Context data collected from people working in this occupation.
Work Setting
Mixed
Split between indoor and outdoor or field settings.
Physical Demands
Light
Mix of sitting and movement throughout the day.
Stress Level
Moderate
Moderate pressure. Regular deadlines exist but are generally manageable with experience.
What Is the Job Outlook for Insurance Underwriters?
Through 2035 the BLS expects this field to change by -3.8%, meaning it is shrinking, so expect more competition for fewer roles. Around 6,800 roles open up each year, which is the number that matters most if you are starting out. Source: BLS.
Growth rates are only meaningful next to other occupations, and the full list of careers with their projected growth puts this one in context.
↘ -3.8%
10-Year Growth (2025–2035)
Declining employment projected.
6,800
Annual Openings
New positions plus replacements for retirees and career-changers.
105K
Currently Employed
Total US employment as of BLS May 2025.
Source: BLS Employment Projections 2025–2035 and Occupational Employment and Wage Statistics May 2025.
Where the Jobs Are
The five states below employ the most Insurance Underwriters professionals nationwide. State-level wages can differ significantly from the $81,370 national median. Research your specific market before committing to a program.
| # | State | Jobs | Median Wage | vs. National |
|---|---|---|---|---|
| 1 | Texas | 9,980 | $78,890 | -3.0% |
| 2 | Florida | 7,300 | $78,720 | -3.3% |
| 3 | Georgia | 7,160 | $85,980 | +5.7% |
| 4 | New York | 6,900 | $97,450 | +19.8% |
| 5 | California | 6,580 | $95,320 | +17.1% |
Source: BLS Occupational Employment and Wage Statistics, May 2025. Employment figures rounded. Read our methodology →
How to Get Here
To get hired here you will usually need a bachelor's degree. The 4 programs below are the most common routes in, ordered by how many people actually graduate from each one.
The next most common path is a Finance program and the colleges offering it, which suits a different kind of applicant.
Typical Entry Education
Bachelor's degree
Job Zone
Zone 4: Considerable Preparation
These positions typically require a bachelor's degree and several years of related experience before advancing into senior roles.
Degree Programs That Lead Here
| # | Program | Graduates/yr | 4yr Median | Colleges |
|---|---|---|---|---|
| 1 | Business Administration | 395,227 | $68,257 | 2,611 |
| 2 | Finance | 58,013 | $83,343 | 949 |
| 3 | Management Sciences | 56,747 | $86,176 | 593 |
| 4 | Insurance | 2,334 | $88,472 | 106 |
Top Colleges for Aspiring Insurance Underwriters
Colleges offering the degree programs that lead to this career, ranked by UCD Score. A strong program plus solid outcomes is a good place to begin your search.
| # | College | UCD Score | Net Price | Salary 10yr |
|---|---|---|---|---|
| 1 | United States Coast Guard Academy New London, CT | 96 | — | — |
| 2 | United States Air Force Academy USAF Academy, CO | 96 | — | — |
| 3 | United States Military Academy West Point, NY | 96 | — | — |
| 4 | CUNY Bernard M Baruch College New York, NY | 93 | $3,033 | $75,971 |
| 5 | University of California-Los Angeles Los Angeles, CA | 93 | $12,548 | $82,511 |
| 6 | University of California-San Diego La Jolla, CA | 93 | $12,470 | $84,943 |
Plan Your Path
Once you've sized up Insurance Underwriters, these tools turn the numbers into a plan. Estimate the real cost of a degree that leads here, weigh the long-term payoff, compare specific colleges side-by-side, and find programs that match your profile.
College ROI Calculator
See if the degree that leads to Insurance Underwriters pays off. Weighs each college's cost against the earnings graduates see.
College Cost Calculator
Enter a budget and see the colleges whose net price fits, with the out-of-pocket cost and likely loan load for each.
Compare Colleges
Put any 2–4 colleges side-by-side. Admissions, cost, outcomes, and earnings, all on one screen, no tab-hopping.
College Match Quiz
Answer six quick questions and see your best-fit colleges ranked by budget, field of study, and what matters most to you.
Insurance Underwriters Pros & Cons
Insurance Underwriters has real financial strengths, but declining employment projections deserve careful consideration. The 2 upsides and 3 concerns below are all data-sourced.
PROS
- Above-average pay At $81,370 median annually, this career pays meaningfully more than most college-graduate roles. Financial return on education is typically strong.
- High earning ceiling Top earners (75th percentile) reach $110,390 annually. Strong performers, specialists, and those in high-cost markets have significant upside beyond the median.
CONS
- Declining employment The BLS projects -3.8% employment change through 2035. This field is expected to shrink. Automation, offshoring, or structural industry change are likely factors.
- Limited annual openings With only 6,800 openings per year relative to field size, competition for available positions is intense. Networking and experience matter more here than in higher-turnover fields.
- Multi-year ramp before career-level pay This is a Job Zone 4 occupation, these positions typically require a bachelor's degree and several years of related experience before advancing into senior roles. Most workers in this field spend their first several years at entry-level pay well below the $81,370 median while building the experience employers require.
Insurance Underwriters Frequently Asked Questions
How much do Insurance Underwriters professionals earn?
Around $81,370 a year for the typical worker, above the national median for full-time workers. The middle 50% of earners fall between $64,620 and $110,390. Treat the national figure as a starting point rather than a promise: employer size, industry and city all move it.
Is Insurance Underwriters a good career?
With realistic expectations. The BLS projects -3.8% employment change through 2035. This field is shrinking, not expanding. The $81,370 median wage is competitive, but most openings come from retirements and exits rather than new positions. If you're drawn to this work, differentiate through a specialized niche or adjacent certification that keeps you relevant as the broader field contracts.
How long does it take to work as Insurance Underwriters?
Expect 4 years of undergraduate education followed by 2 or more years of field experience before most employers consider you qualified for career-level positions. A bachelor's degree is the typical minimum credential. Degree programs like Business Administration are typical entry paths. Early-career pay during this ramp-up period will be meaningfully below the $81,370 national median. Factor that gap into any program ROI calculation.
Why are Insurance Underwriters jobs declining?
The BLS projects -3.8% employment change for Insurance Underwriters through 2035. Declining occupations typically face some combination of automation, industry consolidation, offshoring, or reduced consumer demand, rarely a single cause. Despite the overall decline, about 6,800 openings per year are still projected, mostly replacements for workers who retire or leave, not new positions. 105K people currently work in this field, so while it's contracting, active hiring still occurs. Specialization in high-value segments of the role gives the strongest protection.
What skills do Insurance Underwriters professionals need?
Mainly Reading Comprehension, Active Listening, Writing, Critical Thinking, and Speaking. Notice how many of those are habits rather than facts: they come from doing the work, not from a lecture. That is why programs with an internship or co-op requirement put you ahead of people who only studied the theory. Source: O*NET.
Related Findings
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- No bachelor degree
- High paying careers
- Associate degree
- Trades
- Median wage
-
Does a Master's Degree Pay Off? Barely, on Average
Group every career by the degree it requires and master's-level jobs pay a median of about $91,000, statistically tied with bachelor's-level work. The premium hides in a few fields.
- Master's degree
- Bachelor's degree
- Median wage
- Graduate school
- Career outcomes
-
Growing and Paying $80K Plus: The Careers That Do Both
Only 106 of 393 federal careers both pay a median above $80,000 and grow faster than the typical job. Here is the rare set that clears both bars.
- Career growth
- Median wage
- High-paying careers
- Job outlook
- Career change
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