Average Insurance Underwriters Salary in Bridgeport-Stamford-Danbury, CT
Insurance Underwriters in the Bridgeport-Stamford-Danbury, CT area earn an impressive average annual salary of $113,000. This figure significantly surpasses the national average of $90,920, indicating a strong demand for specialized underwriting talent within this region. The local economic landscape and industry concentration likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $113,000 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $188,880.
- Outlook: With a local workforce of 250 Insurance Underwriters and a Location Quotient of 0.9, the job market in Bridgeport-Stamford-Danbury, CT, shows a stable, albeit slightly below national average, concentration of professionals. This suggests a consistent need for these roles, without an overwhelming surplus, pointing towards a robust employment environment for skilled underwriters.
Salary Overview
The average Insurance Underwriters in Bridgeport-Stamford-Danbury, CT earns+24.3%above the national average.
$54.3
$2,173
$9,417
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Underwriters in Bridgeport-Stamford-Danbury, CT, have experienced steady growth over the past four years, mirroring national trends. Factors such as evolving insurance markets, increased complexity of risk assessment, and inflation likely contribute to upward pressure on compensation for experienced professionals in this field.
Insurance Underwriters Salary Distribution in Bridgeport-Stamford-Danbury, CT
The salary trajectory for Insurance Underwriters typically escalates with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive knowledge of risk assessment and policy development can command salaries in the upper percentiles. The significant gap between entry-level and senior roles underscores the value placed on expertise and a proven track record in the underwriting profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $78,490 | $37.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $84,750 | $40.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $93,320 | $44.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $141,250 | $67.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $188,880 | $90.8 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$113,000
Gross Pay
Real Wage (Purchasing Power)
$113,000
Adjusted for COL (100)
The average annual salary of $113,000 in Bridgeport-Stamford-Danbury, CT, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an underwriter's salary in this area is equivalent to the national average, offering a stable financial footing without the immediate pressure of higher or lower living expenses impacting disposable income.
Job Market Context
250
Total Jobs
0.629
Per 1K Jobs
0.9
Location Quotient
Bridgeport-Stamford-Danbury, CT has 0.90x the national average concentration of Insurance Underwriters jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.9 indicates that Insurance Underwriters are slightly less concentrated in Bridgeport-Stamford-Danbury, CT, compared to the national average. This suggests that while the profession is present and valued, the market is not oversaturated, potentially offering good opportunities for skilled individuals seeking employment or career advancement without facing intense competition.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| New Haven, CT Insurance Underwriters Salary | $88,000↓ 22% | 16 mi |
| Waterbury-Shelton, CT Insurance Underwriters Salary | $94,430↓ 16% | 27 mi |
| Hartford-West Hartford-East Hartford, CT Insurance Underwriters Salary | $101,720↓ 10% | 48 mi |
| Kiryas Joel-Poughkeepsie-Newburgh, NY Insurance Underwriters Salary | $80,860↓ 28% | 51 mi |
Comparing salaries near Bridgeport-Stamford-Danbury, CT
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Bridgeport-Stamford-Danbury, CT?
The median annual salary for a Insurance Underwriters in Bridgeport-Stamford-Danbury, CT is $113,000. This typically ranges from $78,490 for entry-level positions to $188,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bridgeport-Stamford-Danbury, CT is 24.3% higher than the national median of $90,920.
Is Bridgeport-Stamford-Danbury, CT a lucrative place for Insurance Underwriters?
Yes, it is a lucrative location for Insurance Underwriters.The average salary of $113,000 is significantly higher than the national average, and the Cost of Living Index is at the national average, indicating strong earning potential.
Is Bridgeport-Stamford-Danbury, CT a good place to live for Insurance Underwriters?
The Cost of Living Index in Bridgeport-Stamford-Danbury, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bridgeport-Stamford-Danbury, CT?
Some top paying nearby cities include New Haven, CT ($88,000) and Waterbury-Shelton, CT.
How does the Bridgeport-Stamford-Danbury, CT salary compare to the national average?
The average salary for Insurance Underwriters in Bridgeport-Stamford-Danbury, CT, is $113,000, which is substantially higher than the national average of $90,920.
What is the concentration of Insurance Underwriters in this area?
The Location Quotient is 0.9, meaning the concentration of Insurance Underwriters in Bridgeport-Stamford-Danbury, CT, is slightly below the national average.
How does the cost of living affect the Insurance Underwriter salary?
With a Cost of Living Index of 100, the $113,000 salary in Bridgeport-Stamford-Danbury, CT, offers purchasing power equivalent to the national average, making it a financially stable choice.
What does the total local workforce size suggest about job availability?
A local workforce of 250 Insurance Underwriters suggests a stable and established presence of the profession, indicating consistent demand for underwriting expertise.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Bridgeport-Stamford-Danbury, CT area with a job density of 0.629 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Insurance Underwriters • Data source: BLS OEWS 2024 •Jobs in Bridgeport-Stamford-Danbury, CT