Average Insurance Underwriters Salary in Springfield, IL
The average salary for a Insurance Underwriters in Springfield, IL is $95,530. This compensation is in line with national standards, reflecting a balanced and stable local job market.
Executive Summary
- Average Salary: $95,530 per year.
- Growth Trend: Salaries have shifted 70.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $148,320.
- Outlook: The current demand for Insurance Underwriterss is stable, with a local workforce of approximately 80 professionals. This role remains a specialized component of the broader Springfield, IL economy.
Salary Overview
The average Insurance Underwriters in Springfield, IL earns+5.1%above the national average.
$45.9
$1,837
$7,961
Insurance Underwriters Salary Trends (2020-2024)
Over the past 4 years, Insurance Underwriters salaries in Springfield, IL have experienced a rapid surge, growing by 70.7%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Insurance Underwriters Salary Distribution in Springfield, IL
The earning potential for Insurance Underwriterss in Springfield, IL varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 2.8x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $52,670, while highly experienced professionals can command wages upwards of $148,320.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $52,670 | $25.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $71,648 | $34.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $92,290 | $44.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $119,413 | $57.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $148,320 | $71.3 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$95,530
Gross Pay
Real Wage (Purchasing Power)
$95,530
Adjusted for COL (100)
In Springfield, IL, the Cost of Living Index is 100. This increases your effective purchasing power from $95,530 to $95,530.
Job Market Context
80
Total Jobs
0.791
Per 1K Jobs
1.13
Location Quotient
With a location quotient of 1.13, Springfield, IL has a slightly higher-than-average concentration of Insurance Underwriters roles compared to the national norm.
80 people work as Insurance Underwriters in Springfield, IL.
Only 0.791 out of every 1,000 local jobs are Insurance Underwriters roles — this is a niche profession in the area.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| East Central Illinois nonmetropolitan area Insurance Underwriters Salary | $77,590↓ 19% | 53 mi |
| Northwest Illinois nonmetropolitan area Insurance Underwriters Salary | $99,480↑ 4% | 53 mi |
Comparing salaries near Springfield, IL
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Springfield, IL?
The median annual salary for a Insurance Underwriters in Springfield, IL is $95,530. This typically ranges from $52,670 for entry-level positions to $148,320 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Springfield, IL is 5.1% higher than the national median of $90,920.
Is Springfield, IL a good place for Insurance Underwriterss?
Yes, Springfield, IL is financially attractive for Insurance Underwriterss. The average salary of $95,530 exceeds the national average. See distinct detailed breakdown below.
Is Springfield, IL a good place to live for Insurance Underwriters?
The Cost of Living Index in Springfield, IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Springfield, IL?
Some top paying nearby cities include East Central Illinois nonmetropolitan area ($77,590) and Northwest Illinois nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 80 employees in the Springfield, IL area with a job density of 0.791 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 Springfield, IL