|Quick Facts: Insurance Underwriters|
$76,390 per year
$36.73 per hour
|Moderate-term on-the-job training|
Insurance underwriters evaluate insurance applications and decide whether to provide insurance, and under what terms.
Insurance underwriters work indoors in offices. Most work full time.
Insurance underwriters typically need a bachelor’s degree to enter the occupation. However, insurance-related work experience and strong computer skills may be enough for some positions. Certification is generally necessary for advancement to senior underwriter and underwriter manager positions.
The median annual wage for insurance underwriters was $76,390 in May 2021.
Employment of insurance underwriters is projected to decline 4 percent from 2021 to 2031.
Despite declining employment, about 8,400 openings for insurance underwriters are projected each year, on average, over the decade. All of those openings are expected to result from the need to replace workers who transfer to other occupations or exit the labor force, such as to retire.
Explore resources for employment and wages by state and area for insurance underwriters.
Compare the job duties, education, job growth, and pay of insurance underwriters with similar occupations.
Learn more about insurance underwriters by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.