Average Insurance Underwriters Salary in Denver-Aurora-Centennial, CO
Insurance Underwriters in the Denver-Aurora-Centennial, CO metropolitan area command an impressive average annual salary of $123,590. This figure significantly surpasses the national average of $90,920, indicating a premium placed on these specialized roles within the region. Factors such as the local economic landscape and demand for risk assessment expertise likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $123,590 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $174,020.
- Outlook: The Denver-Aurora-Centennial area supports a local workforce of 1,060 Insurance Underwriters. With a Location Quotient of 0.93, the concentration of these professionals is nearly on par with the national average, suggesting a stable and established market. The presence of 0.653 jobs per 1,000 workers further underscores a consistent demand for skilled underwriters in this dynamic metropolitan region.
Salary Overview
The average Insurance Underwriters in Denver-Aurora-Centennial, CO earns+35.9%above the national average.
$59.4
$2,377
$10,299
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the compensation for Insurance Underwriters in Denver-Aurora-Centennial has experienced growth over the past four years, mirroring national trends. As the insurance industry evolves and the demand for accurate risk assessment intensifies, it is probable that salaries have seen a steady upward trajectory, reflecting increased responsibilities and market value.
Insurance Underwriters Salary Distribution in Denver-Aurora-Centennial, CO
Salary progression for Insurance Underwriters in Denver-Aurora-Centennial is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive knowledge and a proven track record can command significantly higher salaries. The widening gap between the 25th and 75th percentile earnings clearly signifies the substantial career advancement and earning potential available to experienced underwriters.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $74,870 | $36 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,693 | $44.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,380 | $51.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,488 | $74.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $174,020 | $83.7 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$123,590
Gross Pay
Real Wage (Purchasing Power)
$123,590
Adjusted for COL (100)
The average annual salary of $123,590 for Insurance Underwriters in Denver-Aurora-Centennial aligns perfectly with the local Cost of Living Index of 100, which represents the national average. This means that the nominal salary offers a purchasing power equivalent to the national average, providing a balanced financial standing for those in this profession within the region.
Job Market Context
1,060
Total Jobs
0.653
Per 1K Jobs
0.93
Location Quotient
Denver-Aurora-Centennial, CO has 0.93x 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 0.93 indicates that the Denver-Aurora-Centennial metropolitan area has a slightly lower concentration of Insurance Underwriters compared to the national average. This suggests a healthy job market where demand is met by a workforce that is nearly proportional to national levels, implying good opportunities for qualified professionals without being overly saturated.
Nearby Job Markets
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Denver-Aurora-Centennial, CO?
The median annual salary for a Insurance Underwriters in Denver-Aurora-Centennial, CO is $123,590. This typically ranges from $74,870 for entry-level positions to $174,020 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Denver-Aurora-Centennial, CO is 35.9% higher than the national median of $90,920.
Is Denver-Aurora-Centennial, CO a lucrative place for Insurance Underwriters?
Yes, Denver-Aurora-Centennial, CO is a lucrative location for Insurance Underwriters.The average salary of $123,590 significantly exceeds the national average, and the cost of living is on par with the national average, indicating strong purchasing power.
Is Denver-Aurora-Centennial, CO a good place to live for Insurance Underwriters?
The Cost of Living Index in Denver-Aurora-Centennial, CO is 100. While higher than average, this often correlates with higher wages.
How does the Denver-Aurora-Centennial salary compare to the national average for Insurance Underwriters?
The average annual salary for Insurance Underwriters in Denver-Aurora-Centennial is $123,590, which is substantially higher than the national average of $90,920.
What is the job market like for Insurance Underwriters in Denver-Aurora-Centennial?
The market is stable, with a local workforce of 1,060 and a Location Quotient of 0.93, indicating a concentration nearly matching the national average and consistent job availability.
Does the cost of living in Denver-Aurora-Centennial affect the value of the Insurance Underwriter salary?
No, the local Cost of Living Index is 100, matching the national average. Therefore, the $123,590 salary offers purchasing power equivalent to the national average.
How much does experience impact an Insurance Underwriter's salary in this area?
Experience significantly increases earning potential, with senior underwriters earning considerably more than entry-level professionals, reflecting a clear career progression path.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,060 employees in the Denver-Aurora-Centennial, CO area with a job density of 0.653 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 Denver-Aurora-Centennial, CO