Average Insurance Underwriters Salary in Fort Wayne, IN
Insurance Underwriters in Fort Wayne, IN, earn an average annual salary of $78,490. This figure is notably below the national average of $90,920, suggesting that local market dynamics and potentially a different cost-of-living structure influence compensation. While the nominal salary is lower, understanding the local economic landscape is key to evaluating its true value.
Executive Summary
- Average Salary: $78,490 per year.
- Growth Trend: Salaries have shifted 7.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $126,430.
- Outlook: Fort Wayne's insurance underwriting job market shows a moderate level of concentration, indicated by a Location Quotient of 1.39, which is above the national average. With a total local workforce of 220, this suggests a slightly higher demand or a more specialized pool of talent compared to national trends. The presence of 0.974 jobs per 1,000 workers further supports a stable, albeit not rapidly expanding, employment environment for these professionals.
Salary Overview
The average Insurance Underwriters in Fort Wayne, IN earns-13.7%below the national average.
$37.7
$1,509
$6,541
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data for Fort Wayne's insurance underwriters is not provided, it is reasonable to assume a general trend of salary growth over the past four years, mirroring national patterns. Economic factors such as inflation, increased demand for insurance products, and evolving regulatory landscapes typically drive upward adjustments in compensation for specialized roles like underwriting.
Insurance Underwriters Salary Distribution in Fort Wayne, IN
Salary progression for Insurance Underwriters in Fort Wayne, IN, typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive knowledge of risk assessment and policy development can command salaries in the upper percentiles. The gap between entry-level and senior roles signifies substantial career growth potential and increased earning power as expertise is acquired.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,540 | $22.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,868 | $28.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $62,680 | $30.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,113 | $47.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $126,430 | $60.8 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$78,490
Gross Pay
Real Wage (Purchasing Power)
$78,490
Adjusted for COL (100)
The average annual salary of $78,490 for Insurance Underwriters in Fort Wayne, IN, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of the local salary is equivalent to the national average, making the nominal salary figure a fair representation of the standard of living achievable in the area.
Job Market Context
220
Total Jobs
0.974
Per 1K Jobs
1.39
Location Quotient
With a location quotient of 1.39, Fort Wayne, IN has a slightly higher-than-average concentration of Insurance Underwriters roles compared to the national norm.
With a Location Quotient of 1.39, Fort Wayne, IN, exhibits a higher concentration of Insurance Underwriters than the national average. This indicates a potentially more robust or specialized market for these professionals locally. While this suggests a degree of demand, it also implies that the talent pool might be more competitive, requiring underwriters to possess specific skills and experience to stand out.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Lima, OH Insurance Underwriters Salary | $84,370↑ 7% | 59 mi |
Comparing salaries near Fort Wayne, IN
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Fort Wayne, IN?
The median annual salary for a Insurance Underwriters in Fort Wayne, IN is $78,490. This typically ranges from $46,540 for entry-level positions to $126,430 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Fort Wayne, IN is 13.7% lower than the national median of $90,920.
Is Fort Wayne, IN a lucrative place for Insurance Underwriterss?
No, it is not more lucrative than the national average.The average salary of $78,490 is below the national average of $90,920. However, the cost of living is also at the national average, meaning the purchasing power is comparable.
Is Fort Wayne, IN a good place to live for Insurance Underwriters?
The Cost of Living Index in Fort Wayne, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Fort Wayne, IN?
Some top paying nearby cities include Lima, OH ($84,370) and others.
How does the cost of living in Fort Wayne, IN affect the Insurance Underwriter salary?
The cost of living in Fort Wayne, IN, is exactly at the national average (100). This means that the average salary of $78,490 provides a purchasing power equivalent to the national average, making it neither exceptionally high nor low in real terms.
What is the concentration of Insurance Underwriters in Fort Wayne, IN?
Fort Wayne, IN, has a higher concentration of Insurance Underwriters than the national average, as indicated by a Location Quotient of 1.39. This suggests a more specialized local job market for this profession.
How many Insurance Underwriters are there in Fort Wayne, IN?
There are approximately 220 Insurance Underwriters employed in Fort Wayne, IN, representing a local workforce size that contributes to the market's specific dynamics.
What does a Location Quotient of 1.39 mean for Insurance Underwriters in Fort Wayne, IN?
A Location Quotient of 1.39 signifies that Fort Wayne, IN, has 39% more Insurance Underwriters per worker than the national average. This indicates a stronger presence and potentially higher demand for this role within the local economy.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 220 employees in the Fort Wayne, IN area with a job density of 0.974 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 Fort Wayne, IN