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Updated February 01, 2023

Insurance Underwriters Salaries

Chicago-Naperville-Elgin, Illinois, US

Average Base Pay

$73,140/yr

35.16% above national average

Additional Cash Compensation

Average: $73,140


Range: $43,660-$121,450

 

How much does a Insurance Underwriters role make in Chicago-Naperville-Elgin, Illinois, US?

Career Ladder Pay for Insurance Underwriters Roles

A person in an entry-level Insurance Underwriters role with under one year of job experience can expect to make an average annual salary of $43,660. A Insurance Underwriters candidate with 1-4 years of experience makes an average total salary of $55,790. A person in a mid-career Insurance Underwriters role with 5-9 years of experience makes an average salary of $73,140 a year. Insurance Underwriters with 10 or more years of experience make an average of $96,080. In their late career (over 20 years of experience), a person in a Insurance Underwriters role’s annual salary averages $121,450 per year.

What is the average Insurance Underwriters salary in Chicago-Naperville-Elgin, Illinois, US?

Average base salary, as of 2023 : $73,140

Salary Breakdown

  Average base salary (percentile)
 25th50th75th
Annual salary$18,285$36,570$54,855
Monthly salary$1,524$3,048$4,571
Weekly salary$381$762$1,143
Hourly salary$54$109$163

Where can a Insurance Underwriters role earn more money?

VS

FREQUENTLY ASKED SALARY QUESTIONS

Will extra certification for Insurance Underwriters roles boost salary?

While certifications are not required for every Insurance Underwriters position, they can certainly increase your salary and lead to an easier recruitment process when applying to enterprises that favor candidates with additional certifications.

Is the Insurance Underwriters position in high demand?

The current Bureau of Labor Statistics states the salary is $73,140 higher than the national average for Insurance Underwriters positions.

Is there advancement potential for a Insurance Underwriters role?

Yes, there is strong potential for promotion — either with an additional educational degree or with continued years of experience. There are a multitude of other positions Insurance Underwriters roles that can advance both internally and with another company.

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