Average Insurance Underwriters Salary in Lakeland-Winter Haven, FL
Insurance Underwriters in the Lakeland-Winter Haven, FL area earn an average annual salary of $81,990. This figure is notably below the national average of $90,920, suggesting that local market dynamics and potentially regional demand influence compensation for this role. Factors such as the concentration of insurance companies and the overall economic landscape of the region play a significant role in determining these salary levels.
Executive Summary
- Average Salary: $81,990 per year.
- Growth Trend: Salaries have shifted 5.1% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $124,850.
- Outlook: The Lakeland-Winter Haven area supports a dedicated workforce of 280 Insurance Underwriters. With a Location Quotient of 1.55, this indicates a higher concentration of these professionals compared to the national average, suggesting a stable, albeit specialized, job market. The presence of 1.085 jobs per 1,000 workers further reinforces the notion of consistent, albeit not rapidly expanding, demand for underwriting expertise within this specific metropolitan area.
Salary Overview
The average Insurance Underwriters in Lakeland-Winter Haven, FL earns-9.8%below the national average.
$39.4
$1,577
$6,833
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Underwriters in Lakeland-Winter Haven have experienced growth over the past four years, mirroring national trends. Economic fluctuations, evolving insurance regulations, and increasing demand for specialized risk assessment skills likely contribute to a gradual upward trajectory in compensation, even if it remains below the national average.
Insurance Underwriters Salary Distribution in Lakeland-Winter Haven, FL
Salary progression for Insurance Underwriters in Lakeland-Winter Haven typically scales 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 higher percentiles. The gap between entry-level and senior roles signifies substantial career growth potential and increased earning capacity as expertise and responsibility grow.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,800 | $24.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $61,493 | $29.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,530 | $36.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $102,488 | $49.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $124,850 | $60 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$81,990
Gross Pay
Real Wage (Purchasing Power)
$81,990
Adjusted for COL (100)
An average annual salary of $81,990 in Lakeland-Winter Haven aligns perfectly with the national average cost of living, indicated by an index of 100. This means that the nominal salary earned by Insurance Underwriters in this region offers purchasing power equivalent to the national average. While the salary is lower than the national average for the role, the cost of living being at par suggests that the take-home pay is relatively stable in terms of real value compared to other parts of the country.
Job Market Context
280
Total Jobs
1.085
Per 1K Jobs
1.55
Location Quotient
Lakeland-Winter Haven, FL has 1.6x the national concentration of Insurance Underwriters jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 1.55 for Insurance Underwriters in Lakeland-Winter Haven signifies a market that is 55% more concentrated than the national average. This suggests a robust and established presence of underwriting professionals and related industries within the region, indicating a competitive environment where specialized skills are valued. While this concentration points to ample opportunities, it also implies that employers may have a solid pool of local talent to draw from.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Tampa-St. Petersburg-Clearwater, FL Insurance Underwriters Salary | $87,180↑ 6% | 32 mi |
| Orlando-Kissimmee-Sanford, FL Insurance Underwriters Salary | $89,190↑ 9% | 48 mi |
Comparing salaries near Lakeland-Winter Haven, FL
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Lakeland-Winter Haven, FL?
The median annual salary for a Insurance Underwriters in Lakeland-Winter Haven, FL is $81,990. This typically ranges from $51,800 for entry-level positions to $124,850 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lakeland-Winter Haven, FL is 9.8% lower than the national median of $90,920.
Is Lakeland-Winter Haven, FL a lucrative place for Insurance Underwriters?
No, not more lucrative than the national average.While the average salary of $81,990 is substantial, it falls below the national average of $90,920 for Insurance Underwriters. However, the cost of living being at the national average means the salary's purchasing power is comparable.
Is Lakeland-Winter Haven, FL a good place to live for Insurance Underwriters?
The Cost of Living Index in Lakeland-Winter Haven, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lakeland-Winter Haven, FL?
Some top paying nearby cities include Tampa-St. Petersburg-Clearwater, FL ($87,180) and Orlando-Kissimmee-Sanford, FL.
How does the Lakeland-Winter Haven salary compare to the national average?
The average annual salary for Insurance Underwriters in Lakeland-Winter Haven, FL is $81,990, which is lower than the national average of $90,920.
What is the cost of living in Lakeland-Winter Haven, FL?
The cost of living index in Lakeland-Winter Haven, FL is 100, which is exactly the national average.
Is there high demand for Insurance Underwriters in Lakeland-Winter Haven, FL?
With a Location Quotient of 1.55, there is a higher concentration of Insurance Underwriters than the national average, indicating a stable and established demand for the role in the region.
How many Insurance Underwriters are there in Lakeland-Winter Haven, FL?
The total local workforce for Insurance Underwriters in Lakeland-Winter Haven, FL consists of approximately 280 professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 280 employees in the Lakeland-Winter Haven, FL area with a job density of 1.085 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 Lakeland-Winter Haven, FL