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Average Insurance Underwriters Salary in Pennsylvania

Insurance Underwriters in Pennsylvania earn an average annual salary of $89,340, 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 demands of the local insurance market, and the concentration of specialized roles within the state's financial sector.

Executive Summary

  • Average Salary: $89,340 per year.
  • Growth Trend: Salaries have shifted 5.8% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $139,210.
  • Outlook: Pennsylvania boasts a robust job market for Insurance Underwriters, with a total local workforce of 5,910 professionals. The Location Quotient of 1.4 indicates a significant concentration of these roles compared to the national average, suggesting strong and sustained demand for underwriting expertise within the state.
2024 Market Data

Salary Overview

$89,340

The average Insurance Underwriters in Pennsylvania earns-1.7%below the national average.

BreakdownBased on 40h/week
Hourly

$43

Weekly

$1,718

Monthly

$7,445

Insurance Underwriters Salary Distribution in Pennsylvania

The career path for Insurance Underwriters in Pennsylvania offers substantial earning potential that scales with experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive knowledge and a proven track record can achieve significantly higher compensation. The percentile gaps in salary clearly signify the career progression and increased value placed on senior underwriters.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$47,860$23
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$67,005$32.2
ManagerOversees team, compliance, and project delivery.50% (Median)$78,220$37.6
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$111,675$53.7
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$139,210$66.9

Detailed Insurance Underwriters Market Analysis

Relocation Context

Nominal Salary

$89,340

Gross Pay

Real Wage (Purchasing Power)

$90,242

Adjusted for COL (99)

An average annual salary of $89,340 in Pennsylvania presents a favorable financial standing, especially considering the local Cost of Living Index is precisely at the national average of 99. This means that the purchasing power of an Insurance Underwriter's salary in Pennsylvania is comparable to the national standard, allowing for a stable lifestyle without significant financial strain.

Job Market Context

5,910

Total Jobs

0.982

Per 1K Jobs

1.4

Location Quotient

Above Average

With a location quotient of 1.40, Pennsylvania has a slightly higher-than-average concentration of Insurance Underwriters roles compared to the national norm.

With a Location Quotient of 1.4, Pennsylvania demonstrates a higher concentration of Insurance Underwriters than the national average. This suggests a competitive yet abundant job market, where employers actively seek specialized talent, and professionals have a good number of opportunities to find roles that align with their skills and career aspirations.

Nearby Job Markets

Nearby Cities for Insurance Underwriters

CitySalaryDist.
Harrisburg-Carlisle, PA Insurance Underwriters Salary$79,650↓ 11%66 mi

Comparing salaries near Pennsylvania

Hiring Insurance Underwriterss?

Frequently Asked Questions

How much does a Insurance Underwriters make in Pennsylvania?

The median annual salary for a Insurance Underwriters in Pennsylvania is $89,340. This typically ranges from $47,860 for entry-level positions to $139,210 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Pennsylvania is 1.7% lower than the national median of $90,920.

Is Pennsylvania a lucrative place for Insurance Underwriters?

Yes, Pennsylvania offers a competitive environment for Insurance Underwriters.The state's average salary is close to the national average, and its higher concentration of these roles indicates strong demand and opportunity.

Is Pennsylvania a good place to live for Insurance Underwriters?

With a Cost of Living Index of 99 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Pennsylvania?

Some top paying nearby cities include Harrisburg-Carlisle, PA ($79,650) and others.

How does the Pennsylvania salary compare to the national average?

The average annual salary for Insurance Underwriters in Pennsylvania is $89,340, which is slightly lower than the national average of $90,920.

What does the Location Quotient of 1.4 mean for Insurance Underwriters in PA?

A Location Quotient of 1.4 signifies that Insurance Underwriters are 40% more concentrated in Pennsylvania than the national average, indicating a robust and specialized job market.

How does the cost of living in Pennsylvania affect the Insurance Underwriter salary?

With a Cost of Living Index of 99, which is at the national average, the $89,340 salary in Pennsylvania offers purchasing power equivalent to the national standard.

What is the total number of Insurance Underwriters in Pennsylvania?

There are approximately 5,910 Insurance Underwriters employed in Pennsylvania, reflecting a significant segment of the state's financial services workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 5,910 employees in the Pennsylvania area with a job density of 0.982 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Insurance Underwriters • Data source: BLS OEWS 2024 •Jobs in Pennsylvania