Average Insurance Underwriters Salary in Florida
Insurance Underwriters in Florida earn an average annual salary of $89,710, a figure slightly below the national average of $90,920. This marginal difference is often influenced by a complex interplay of regional economic factors, the specific demand within Florida's robust insurance market, and the overall cost of doing business in the state.
Executive Summary
- Average Salary: $89,710 per year.
- Growth Trend: Salaries have shifted 27.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $133,640.
- Outlook: With a local workforce of 7,430 Insurance Underwriters, Florida demonstrates a significant presence in this sector. The Location Quotient of 1.08 indicates a concentration of these professionals slightly above the national average, suggesting a stable and potentially growing demand for their specialized skills within the state's economy.
Salary Overview
The average Insurance Underwriters in Florida earns-1.3%below the national average.
$43.1
$1,725
$7,476
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Insurance Underwriter salaries in Florida have experienced steady growth over the past four years, mirroring national trends. Factors such as evolving insurance regulations, increased market complexity, and a rising demand for risk assessment professionals likely contribute to this upward salary trajectory.
Insurance Underwriters Salary Distribution in Florida
Salary progression for Insurance Underwriters in Florida typically scales with experience. Entry-level positions may start at the lower end of the pay scale, while seasoned professionals with extensive knowledge of risk assessment and policy development can command significantly higher salaries. The percentile gaps in earnings clearly signify the career advancement and increased earning potential associated with accumulating years of expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,210 | $24.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $67,283 | $32.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $80,000 | $38.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $112,138 | $53.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $133,640 | $64.3 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$89,710
Gross Pay
Real Wage (Purchasing Power)
$87,693
Adjusted for COL (102.3)
An average annual salary of $89,710 in Florida needs to be considered alongside the state's Cost of Living Index of 102.3. This index, slightly above the national average, suggests that while the nominal salary is competitive, the purchasing power may be marginally reduced compared to areas with a lower cost of living. Careful budgeting is advised for those relocating.
Job Market Context
7,430
Total Jobs
0.757
Per 1K Jobs
1.08
Location Quotient
With a location quotient of 1.08, Florida has a slightly higher-than-average concentration of Insurance Underwriters roles compared to the national norm.
Florida's Location Quotient of 1.08 for Insurance Underwriters signifies a job market where this profession is slightly more concentrated than the national average. This suggests a healthy demand and a competitive landscape, where employers actively seek skilled underwriters, and professionals have a reasonable number of opportunities within the state.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Lakeland-Winter Haven, FL Insurance Underwriters Salary | $81,990↓ 9% | 26 mi |
| Tampa-St. Petersburg-Clearwater, FL Insurance Underwriters Salary | $87,180↓ 3% | 49 mi |
| Orlando-Kissimmee-Sanford, FL Insurance Underwriters Salary | $89,190↓ 1% | 57 mi |
| North Port-Bradenton-Sarasota, FL Insurance Underwriters Salary | $90,380↑ 1% | 58 mi |
Comparing salaries near Florida
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Florida?
The median annual salary for a Insurance Underwriters in Florida is $89,710. This typically ranges from $51,210 for entry-level positions to $133,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Florida is 1.3% lower than the national median of $90,920.
Is Florida a lucrative place for Insurance Underwriterss?
Yes, Florida offers a competitive environment for Insurance Underwriters.The state's average salary of $89,710 is close to the national average, and a Location Quotient of 1.08 indicates a strong concentration of these roles, suggesting robust demand.
Is Florida a good place to live for Insurance Underwriters?
The Cost of Living Index in Florida is 102.3. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Florida?
Some top paying nearby cities include Lakeland-Winter Haven, FL ($81,990) and Tampa-St. Petersburg-Clearwater, FL.
How does Florida's average Insurance Underwriter salary compare to the national average?
The average annual salary for Insurance Underwriters in Florida is $89,710, which is slightly lower than the national average of $90,920.
What is the significance of Florida's Location Quotient for Insurance Underwriters?
A Location Quotient of 1.08 means that Insurance Underwriters are 8% more concentrated in Florida than the national average, indicating a strong presence and potentially higher demand for these professionals.
How does the cost of living in Florida affect an Insurance Underwriter's salary?
With a Cost of Living Index of 102.3, Florida is slightly more expensive than the national average. This means the $89,710 salary may have slightly less purchasing power than in areas with a lower cost of living.
What is the total number of Insurance Underwriters in Florida?
Florida employs approximately 7,430 Insurance Underwriters, representing a substantial segment of the workforce in this specialized field within the state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 7,430 employees in the Florida area with a job density of 0.757 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 Florida