Average Insurance Underwriters Salary in Louisville/Jefferson County, KY-IN
Insurance Underwriters in Louisville/Jefferson County, KY-IN earn an average annual salary of $82,270, which is below the national average of $90,920. This disparity is often influenced by the specific economic landscape and demand for specialized roles within a metropolitan area. Local industry concentration and the overall economic health of the region play a significant role in determining compensation levels.
Executive Summary
- Average Salary: $82,270 per year.
- Growth Trend: Salaries have shifted 20.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $132,930.
- Outlook: The job market for Insurance Underwriters in Louisville/Jefferson County, KY-IN, while not exhibiting high concentration (Location Quotient of 0.54), supports a local workforce of 260 professionals. The number of jobs per 1,000 workers, at 0.376, suggests a stable, albeit not rapidly expanding, demand for these specialized roles within the region.
Salary Overview
The average Insurance Underwriters in Louisville/Jefferson County, KY-IN earns-9.5%below the national average.
$39.6
$1,582
$6,856
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data for Louisville/Jefferson County is not provided, it is generally assumed that salaries for Insurance Underwriters nationwide have seen a steady upward trend over the past four years, driven by inflation, increased demand for risk assessment, and evolving insurance products. This national trend likely reflects positively, albeit to a lesser degree, on local compensation adjustments.
Insurance Underwriters Salary Distribution in Louisville/Jefferson County, KY-IN
Salary progression for Insurance Underwriters is strongly tied to experience. Entry-level positions typically 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 career progression, with senior underwriters often earning 50% or more than their junior counterparts.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,480 | $24.8 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $61,703 | $29.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,390 | $35.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $102,838 | $49.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $132,930 | $63.9 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$82,270
Gross Pay
Real Wage (Purchasing Power)
$82,270
Adjusted for COL (100)
The nominal average salary of $82,270 in Louisville/Jefferson County, KY-IN, aligns precisely with the national average cost of living index of 100. This means that the purchasing power of an Insurance Underwriter's salary in this region is comparable to the national average, offering a stable financial standing relative to general expenses.
Job Market Context
260
Total Jobs
0.376
Per 1K Jobs
0.54
Location Quotient
Louisville/Jefferson County, KY-IN has 0.54x 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.
With a Location Quotient of 0.54, the market for Insurance Underwriters in Louisville/Jefferson County, KY-IN, is less concentrated than the national average. This suggests that while opportunities exist, the job market is not saturated, potentially offering a competitive environment for skilled professionals seeking employment or career advancement.
Nearby Job Markets
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Louisville/Jefferson County, KY-IN?
The median annual salary for a Insurance Underwriters in Louisville/Jefferson County, KY-IN is $82,270. This typically ranges from $51,480 for entry-level positions to $132,930 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Louisville/Jefferson County, KY-IN is 9.5% lower than the national median of $90,920.
Is Louisville/Jefferson County, KY-IN a lucrative place for Insurance Underwriterss?
No, it is not more lucrative than the national average.The average salary of $82,270 is below the national average of $90,920, indicating less lucrative compensation. However, the cost of living being at the national average means the purchasing power is equivalent.
Is Louisville/Jefferson County, KY-IN a good place to live for Insurance Underwriters?
The Cost of Living Index in Louisville/Jefferson County, KY-IN is 100. While higher than average, this often correlates with higher wages.
How does the local workforce size affect job prospects?
A local workforce of 260 suggests a moderate-sized market. While not a massive hub, it indicates a consistent presence and demand for Insurance Underwriters within the region.
What does a Location Quotient of 0.54 mean for job seekers?
A Location Quotient below 1.0 signifies that Insurance Underwriters are less concentrated in Louisville/Jefferson County compared to the national average. This could mean fewer job openings but potentially less competition for those roles.
How does the cost of living impact the $82,270 salary?
With a Cost of Living Index of 100, the $82,270 salary has the same purchasing power as the national average salary in a national average cost of living area. This makes the salary relatively stable in terms of real value.
Are there many Insurance Underwriter jobs per capita in Louisville?
With 0.376 jobs per 1,000 workers, the density of Insurance Underwriter positions is relatively low, suggesting that while the profession is present, it's not a dominant employment sector in the area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Louisville/Jefferson County, KY-IN area with a job density of 0.376 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 Louisville/Jefferson County, KY-IN