Average Insurance Underwriters Salary in Texas
Insurance Underwriters in Texas earn an average annual salary of $85,950, which is slightly below the national average of $90,920. This difference can be attributed to a combination of factors, including the specific demand within the Texas insurance market and the state's overall economic landscape. While not reaching the national benchmark, the Texas market offers a substantial compensation package for these critical roles.
Executive Summary
- Average Salary: $85,950 per year.
- Growth Trend: Salaries have shifted 14.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $136,100.
- Outlook: With a local workforce of 8,150 Insurance Underwriters, Texas demonstrates a significant presence in this sector. The Location Quotient of 0.84 suggests that while the concentration of these roles is slightly below the national average, the sheer volume of professionals indicates a robust and established job market. The figure of 0.588 jobs per 1,000 workers further underscores the steady demand for skilled underwriters within the state.
Salary Overview
The average Insurance Underwriters in Texas earns-5.5%below the national average.
$41.3
$1,653
$7,163
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data for Texas Insurance Underwriters is not provided, it is reasonable to assume a trend of salary growth over the past four years, mirroring national patterns. Economic expansion, evolving insurance regulations, and increasing complexity in risk assessment typically drive up compensation for specialized roles like underwriting. Therefore, professionals in Texas have likely seen their earning potential increase steadily.
Insurance Underwriters Salary Distribution in Texas
The salary progression for Insurance Underwriters in Texas, as in most markets, is strongly tied to experience. Entry-level positions typically start at the lower end of the pay scale, while senior underwriters with extensive knowledge and proven risk assessment capabilities command significantly higher salaries. The percentile gaps in earnings clearly signify career progression, rewarding accumulated expertise and responsibility within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,230 | $22.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $64,463 | $31 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $76,760 | $36.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $107,438 | $51.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $136,100 | $65.4 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$85,950
Gross Pay
Real Wage (Purchasing Power)
$92,419
Adjusted for COL (93)
An average annual salary of $85,950 in Texas is quite favorable when considering the local Cost of Living Index of 93. Since this index is below the national average of 100, the purchasing power of an underwriter's salary in Texas is effectively higher than the nominal figure suggests. This means that the $85,950 earned can go further in covering daily expenses and supporting a comfortable lifestyle compared to areas with a higher cost of living.
Job Market Context
8,150
Total Jobs
0.588
Per 1K Jobs
0.84
Location Quotient
Texas has 0.84x 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 0.84 for Insurance Underwriters in Texas indicates a market that is slightly less concentrated than the national average. This suggests that while the profession is well-represented, there isn't an overabundance of underwriters relative to other professions. This equilibrium can translate into a competitive job market where skilled professionals are sought after, potentially leading to stable employment opportunities and fair compensation.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Austin-Round Rock-San Marcos, TX Insurance Underwriters Salary | $88,670↑ 3% | 53 mi |
Comparing salaries near Texas
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Texas?
The median annual salary for a Insurance Underwriters in Texas is $85,950. This typically ranges from $47,230 for entry-level positions to $136,100 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Texas is 5.5% lower than the national median of $90,920.
Is Texas a lucrative place for Insurance Underwriters?
Yes, Texas offers a competitive environment for Insurance Underwriters.While the average salary is slightly below the national average, the lower cost of living enhances purchasing power. The stable job market with a significant workforce also indicates consistent demand.
Is Texas a good place to live for Insurance Underwriters?
With a Cost of Living Index of 93 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Texas?
Some top paying nearby cities include Austin-Round Rock-San Marcos, TX ($88,670) and others.
How does experience affect an Insurance Underwriter's salary in Texas?
Experience is a primary driver of salary increases for Insurance Underwriters in Texas. Junior underwriters earn less, while senior underwriters with specialized skills and a proven track record can command significantly higher compensation packages.
What is the significance of the Location Quotient for this role in Texas?
A Location Quotient of 0.84 means that Insurance Underwriters are present in Texas at a rate slightly lower than the national average. This suggests a healthy, non-saturated market where skilled professionals are likely to find good opportunities.
How does the cost of living in Texas compare to the national average for underwriters?
Texas has a Cost of Living Index of 93, which is below the national average of 100. This means that the average salary of $85,950 provides a relatively strong purchasing power for Insurance Underwriters living in the state.
What is the total number of Insurance Underwriters in Texas?
There are approximately 8,150 Insurance Underwriters employed in Texas, indicating a substantial professional community within the state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 8,150 employees in the Texas area with a job density of 0.588 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 Texas
- All Occupations Salary in Texas
- Office and Administrative Support Occupations Salary in Texas
- Food Preparation and Serving Related Occupations Salary in Texas
- Transportation and Material Moving Occupations Salary in Texas
- Management Occupations Salary in Texas
- Sales and Related Occupations Salary in Texas
- Business and Financial Operations Occupations Salary in Texas
- Educational Instruction and Library Occupations Salary in Texas
- Healthcare Practitioners and Technical Occupations Salary in Texas
- Production Occupations Salary in Texas
- Browse All Jobs in Texas →
Semantic Salary Analysis for Insurance Underwriters • Data source: BLS OEWS 2024 •Jobs in Texas