Average Insurance Underwriters Salary in San Francisco-Oakland-Fremont, CA
Insurance Underwriters in the San Francisco-Oakland-Fremont, CA area command an impressive average annual salary of $111,150. This figure significantly surpasses the national average of $90,920, reflecting the high demand and specialized nature of the role within this dynamic metropolitan region. The economic landscape and competitive job market in the Bay Area are key drivers for this elevated compensation.
Executive Summary
- Average Salary: $111,150 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $172,500.
- Outlook: With a local workforce of 1,050 Insurance Underwriters, the San Francisco-Oakland-Fremont area demonstrates a substantial presence in this field. The Location Quotient of 0.62 indicates that while the concentration is slightly below the national average, the sheer volume of professionals suggests a stable and active job market. This robust workforce size points to consistent opportunities for skilled underwriters.
Salary Overview
The average Insurance Underwriters in San Francisco-Oakland-Fremont, CA earns+22.3%above the national average.
$53.4
$2,138
$9,263
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the salary for Insurance Underwriters in San Francisco-Oakland-Fremont has experienced growth over the past four years, mirroring broader economic trends and increasing demand for risk assessment professionals. Factors such as inflation, evolving insurance markets, and the increasing complexity of underwriting likely contribute to upward salary pressure.
Insurance Underwriters Salary Distribution in San Francisco-Oakland-Fremont, CA
The career trajectory for Insurance Underwriters typically involves significant salary progression based on experience. Entry-level positions may start at a lower percentile, but as underwriters gain expertise, develop specialized skills, and take on more complex cases, their earning potential increases substantially. The widening gap between entry-level and senior-level salaries, often seen across different pay percentiles, signifies clear opportunities for career advancement and higher compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $75,200 | $36.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $83,363 | $40.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $94,210 | $45.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $138,938 | $66.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $172,500 | $82.9 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$111,150
Gross Pay
Real Wage (Purchasing Power)
$111,150
Adjusted for COL (100)
The average annual salary of $111,150 in San Francisco-Oakland-Fremont aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is considerably higher than the national average, the purchasing power of that salary is effectively on par with the national average due to the local cost of living. Therefore, the increased earnings are largely offset by the expenses associated with living in this high-cost metropolitan area.
Job Market Context
1,050
Total Jobs
0.435
Per 1K Jobs
0.62
Location Quotient
San Francisco-Oakland-Fremont, CA has 0.62x 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.
The Location Quotient (LQ) of 0.62 for Insurance Underwriters in San Francisco-Oakland-Fremont suggests that the profession is less concentrated here compared to the national average. This indicates that while there is a significant number of jobs (0.435 per 1,000 workers), the market may not be saturated, potentially offering a competitive environment for skilled professionals. Employers may need to offer attractive compensation to secure top talent in this less concentrated, yet substantial, job market.
Nearby Job Markets
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in San Francisco-Oakland-Fremont, CA?
The median annual salary for a Insurance Underwriters in San Francisco-Oakland-Fremont, CA is $111,150. This typically ranges from $75,200 for entry-level positions to $172,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in San Francisco-Oakland-Fremont, CA is 22.3% higher than the national median of $90,920.
Is San Francisco-Oakland-Fremont, CA a lucrative place for Insurance Underwriterss?
Yes, but with caveats.The average salary of $111,150 is significantly higher than the national average, indicating strong earning potential. However, the local Cost of Living Index being at the national average means that this higher salary is necessary to maintain a comparable standard of living.
Is San Francisco-Oakland-Fremont, CA a good place to live for Insurance Underwriters?
The Cost of Living Index in San Francisco-Oakland-Fremont, CA is 100. While higher than average, this often correlates with higher wages.
How does the number of Insurance Underwriters in San Francisco compare nationally?
With a total local workforce of 1,050, San Francisco-Oakland-Fremont has a notable presence of Insurance Underwriters, though the Location Quotient of 0.62 suggests a slightly lower concentration relative to the national average.
What is the job availability like for Insurance Underwriters in this area?
The presence of 0.435 jobs per 1,000 workers indicates a steady demand for Insurance Underwriters in San Francisco-Oakland-Fremont, suggesting a healthy job market for qualified professionals.
Does experience significantly impact an Insurance Underwriter's salary in San Francisco?
Yes, experience is a major factor in salary progression. As underwriters gain more experience and expertise, their earning potential increases, moving them into higher pay percentiles.
How does the high salary in San Francisco relate to the cost of living?
The average salary of $111,150 is balanced by a Cost of Living Index of 100, meaning the increased earnings are largely consumed by the local expenses, making the real purchasing power comparable to the national average.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,050 employees in the San Francisco-Oakland-Fremont, CA area with a job density of 0.435 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Insurance Underwriters Salaries by State
Top Jobs in San Francisco-Oakland-Fremont, CA
- All Occupations Salary in San Francisco-Oakland-Fremont, CA
- Office and Administrative Support Occupations Salary in San Francisco-Oakland-Fremont, CA
- Management Occupations Salary in San Francisco-Oakland-Fremont, CA
- Business and Financial Operations Occupations Salary in San Francisco-Oakland-Fremont, CA
- Food Preparation and Serving Related Occupations Salary in San Francisco-Oakland-Fremont, CA
- Sales and Related Occupations Salary in San Francisco-Oakland-Fremont, CA
- Computer and Mathematical Occupations Salary in San Francisco-Oakland-Fremont, CA
- Transportation and Material Moving Occupations Salary in San Francisco-Oakland-Fremont, CA
- Healthcare Support Occupations Salary in San Francisco-Oakland-Fremont, CA
- Educational Instruction and Library Occupations Salary in San Francisco-Oakland-Fremont, CA
- Browse All Jobs in San Francisco-Oakland-Fremont, CA →
Semantic Salary Analysis for Insurance Underwriters • Data source: BLS OEWS 2024 •Jobs in San Francisco-Oakland-Fremont, CA