Average Insurance Underwriters Salary in Seattle-Tacoma-Bellevue, WA
Insurance Underwriters in the Seattle-Tacoma-Bellevue, WA area earn an impressive average annual salary of $113,510. This figure significantly surpasses the national average of $90,920, indicating a strong demand and potentially higher cost of doing business or specialized market needs within this metropolitan region. The local economic landscape and industry concentration likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $113,510 per year.
- Growth Trend: Salaries have shifted 28.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $173,170.
- Outlook: The Seattle-Tacoma-Bellevue area supports a dedicated workforce of 1,330 Insurance Underwriters. With a Location Quotient of 0.92, the concentration of these roles is nearly on par with the national average, suggesting a stable and established market for this profession. The presence of 0.64 jobs per 1,000 workers further reinforces the steady demand for skilled underwriters in this region.
Salary Overview
The average Insurance Underwriters in Seattle-Tacoma-Bellevue, WA earns+24.8%above the national average.
$54.6
$2,183
$9,459
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 Seattle-Tacoma-Bellevue has experienced consistent growth over the past four years, mirroring broader economic trends and the increasing complexity of the insurance industry. Factors such as inflation, evolving risk landscapes, and demand for specialized underwriting expertise likely contribute to upward salary pressure.
Insurance Underwriters Salary Distribution in Seattle-Tacoma-Bellevue, WA
The career trajectory for Insurance Underwriters typically involves significant salary progression with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive knowledge of risk assessment and complex policy structures can command salaries in the upper percentiles. The widening gap between entry-level and senior roles underscores the value placed on expertise and demonstrated success in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $63,330 | $30.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $85,133 | $40.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $98,500 | $47.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $141,888 | $68.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $173,170 | $83.3 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$113,510
Gross Pay
Real Wage (Purchasing Power)
$113,510
Adjusted for COL (100)
An average annual salary of $113,510 in Seattle-Tacoma-Bellevue, WA, aligns perfectly with the national average Cost of Living Index of 100. This means that while the nominal salary is substantially higher than the national average, the purchasing power of that salary is effectively equivalent to the national average, considering local expenses. Therefore, the higher salary directly reflects the local economic conditions and cost of living.
Job Market Context
1,330
Total Jobs
0.64
Per 1K Jobs
0.92
Location Quotient
Seattle-Tacoma-Bellevue, WA has 0.92x 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 of 0.92 for Insurance Underwriters in Seattle-Tacoma-Bellevue suggests a job market that is closely aligned with the national average in terms of concentration. This indicates a healthy and competitive environment where the demand for underwriters is present but not disproportionately high compared to other regions. Professionals can expect a stable job market with opportunities for growth.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Western Washington nonmetropolitan area Insurance Underwriters Salary | $71,170↓ 37% | 42 mi |
| Olympia-Lacey-Tumwater, WA Insurance Underwriters Salary | $78,730↓ 31% | 47 mi |
Comparing salaries near Seattle-Tacoma-Bellevue, WA
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Seattle-Tacoma-Bellevue, WA?
The median annual salary for a Insurance Underwriters in Seattle-Tacoma-Bellevue, WA is $113,510. This typically ranges from $63,330 for entry-level positions to $173,170 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Seattle-Tacoma-Bellevue, WA is 24.8% higher than the national median of $90,920.
Is Seattle-Tacoma-Bellevue, WA a lucrative place for Insurance Underwriters?
Yes, it is a lucrative place for Insurance Underwriters.The average salary of $113,510 is significantly higher than the national average, and the cost of living is at the national average, indicating strong earning potential.
Is Seattle-Tacoma-Bellevue, WA a good place to live for Insurance Underwriters?
The Cost of Living Index in Seattle-Tacoma-Bellevue, WA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Seattle-Tacoma-Bellevue, WA?
Some top paying nearby cities include Western Washington nonmetropolitan area ($71,170) and Olympia-Lacey-Tumwater, WA.
How does the Seattle-Tacoma-Bellevue salary compare to the national average?
The average annual salary for Insurance Underwriters in Seattle-Tacoma-Bellevue is $113,510, which is considerably higher than the national average of $90,920.
What is the concentration of Insurance Underwriters in this area?
The concentration, measured by the Location Quotient, is 0.92, indicating that the presence of Insurance Underwriters in Seattle-Tacoma-Bellevue is nearly equivalent to the national average.
How does the cost of living affect the salary in Seattle-Tacoma-Bellevue?
With a Cost of Living Index of 100, the local expenses are on par with the national average. This means the higher nominal salary of $113,510 offers purchasing power equivalent to the national average.
What is the total number of Insurance Underwriters in the Seattle-Tacoma-Bellevue area?
There are approximately 1,330 Insurance Underwriters employed in the Seattle-Tacoma-Bellevue metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,330 employees in the Seattle-Tacoma-Bellevue, WA area with a job density of 0.64 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 Seattle-Tacoma-Bellevue, WA