Average Insurance Underwriters Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
Insurance Underwriters in the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area earn an impressive average annual salary of $99,950. This figure significantly surpasses the national average of $90,920, indicating a premium for specialized underwriting talent within this dynamic region. The robust economic activity and demand for skilled professionals in the DC Metro area likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $99,950 per year.
- Growth Trend: Salaries have shifted 49.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $158,640.
- Outlook: With a local workforce of 970 Insurance Underwriters, the Washington-Arlington-Alexandria area demonstrates a substantial presence in this field. The Location Quotient of 0.45 suggests that while the concentration is below the national average, the absolute number of professionals indicates a stable and active job market. This signifies consistent demand for experienced underwriters within the region's diverse insurance sector.
Salary Overview
The average Insurance Underwriters in Washington-Arlington-Alexandria, DC-VA-MD-WV earns+9.9%above the national average.
$48.1
$1,922
$8,329
Insurance Underwriters Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Insurance Underwriters in the Washington-Arlington-Alexandria area have experienced steady growth over the past four years. Economic expansion, evolving regulatory landscapes, and increasing demand for risk assessment professionals typically drive upward salary trends in specialized fields like underwriting.
Insurance Underwriters Salary Distribution in Washington-Arlington-Alexandria, DC-VA-MD-WV
Salary progression for Insurance Underwriters is strongly tied to experience and demonstrated expertise. Entry-level positions typically command lower salaries, while senior underwriters with extensive knowledge of risk assessment, policy development, and regulatory compliance can achieve significantly higher compensation. The percentile gaps in salary distribution clearly signify the career trajectory and earning potential as professionals advance through junior, mid-level, and senior roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $61,200 | $29.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $74,963 | $36 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $89,630 | $43.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $124,938 | $60.1 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $158,640 | $76.3 |
Detailed Insurance Underwriters Market Analysis
Relocation Context
Nominal Salary
$99,950
Gross Pay
Real Wage (Purchasing Power)
$99,950
Adjusted for COL (100)
The average annual salary of $99,950 in the Washington-Arlington-Alexandria, DC-VA-MD-WV area aligns perfectly with the national average cost of living, which is indexed at 100. This means that the higher nominal salary translates directly into strong purchasing power, allowing professionals to maintain a comparable standard of living to the national average without experiencing a financial strain due to local expenses.
Job Market Context
970
Total Jobs
0.312
Per 1K Jobs
0.45
Location Quotient
At 0.45x, Washington-Arlington-Alexandria, DC-VA-MD-WV has a notably lower concentration of Insurance Underwriters jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient (LQ) of 0.45 for Insurance Underwriters in the Washington-Arlington-Alexandria, DC-VA-MD-WV area indicates that the concentration of these professionals is less than half of the national average. This suggests that while the market is not oversaturated, there may be fewer specialized underwriting roles compared to other regions, potentially leading to a more competitive environment for securing positions, despite the higher average salary.
Nearby Job Markets
Nearby Cities for Insurance Underwriters
| City | Salary | Dist. |
|---|---|---|
| Baltimore-Columbia-Towson, MD Insurance Underwriters Salary | $92,450↓ 8% | 35 mi |
| Hagerstown-Martinsburg, MD-WV Insurance Underwriters Salary | $77,650↓ 22% | 63 mi |
Comparing salaries near Washington-Arlington-Alexandria, DC-VA-MD-WV
Hiring Insurance Underwriterss?
Frequently Asked Questions
How much does a Insurance Underwriters make in Washington-Arlington-Alexandria, DC-VA-MD-WV?
The median annual salary for a Insurance Underwriters in Washington-Arlington-Alexandria, DC-VA-MD-WV is $99,950. This typically ranges from $61,200 for entry-level positions to $158,640 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Washington-Arlington-Alexandria, DC-VA-MD-WV is 9.9% higher than the national median of $90,920.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a lucrative place for Insurance Underwriterss?
Yes, it is a lucrative location for Insurance Underwriters.The average salary of $99,950 is notably higher than the national average, and the cost of living is on par with the national average, indicating strong purchasing power for local professionals.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a good place to live for Insurance Underwriters?
The Cost of Living Index in Washington-Arlington-Alexandria, DC-VA-MD-WV is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Washington-Arlington-Alexandria, DC-VA-MD-WV?
Some top paying nearby cities include Baltimore-Columbia-Towson, MD ($92,450) and Hagerstown-Martinsburg, MD-WV.
How does the local salary compare to the national average?
Insurance Underwriters in the Washington-Arlington-Alexandria area earn an average of $99,950 annually, which is approximately $9,030 more than the national average of $90,920.
What is the concentration of Insurance Underwriters in this area?
The Location Quotient is 0.45, meaning the concentration of Insurance Underwriters in Washington-Arlington-Alexandria is less than half of the national average concentration.
Does the cost of living affect the value of the salary?
No, the cost of living in this area is indexed at 100, which is the national average. Therefore, the higher nominal salary of $99,950 offers excellent real value and purchasing power.
How many Insurance Underwriters work in the Washington-Arlington-Alexandria area?
There are approximately 970 Insurance Underwriters employed within the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan statistical area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 970 employees in the Washington-Arlington-Alexandria, DC-VA-MD-WV area with a job density of 0.312 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 Washington-Arlington-Alexandria, DC-VA-MD-WV