As of March 01, 2026, the average salary for a Insurance Underwriter II in the United States is $71,400 per year, which breaks down to an hourly rate of $34.
However, a Insurance Underwriter II's salary can vary significantly. Here’s a look at the typical salary range:
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A Insurance Underwriter II's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.
Experience is a primary driver of a Insurance Underwriter II's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Insurance Underwriter I | 0-2 years | $60,522 |
| Insurance Underwriter II | 2-4 years | $71,308 |
| Insurance Underwriter III | 4-7 years | $92,692 |
| Insurance Underwriter IV | 7+ years | $108,290 |
| Insurance Underwriter V | 7-10 years | $133,449 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Insurance Underwriter IIs. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 7.62% |
| Accounting | 1.27% |
| Cash Flow Analysis | 0.95% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Credit Administration
|
$80,682 |
13%
|
|
Bank Secrecy Act
|
$78,540 |
10%
|
|
Collective Bargaining
|
$78,540 |
10%
|
|
Financial Accounting
|
$77,826 |
9%
|
|
Due Diligence
|
$75,684 |
6%
|
|
Credit Analysis
|
$74,970 |
5%
|
Your level of education can impact your salary potential. While many Insurance Underwriter IIs enter the field with a Associate's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Insurance Underwriter II with a Associate's Degree is between $70,152 and $74,781).
Insurance Underwriter II Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 4.8% |
| High School | 4.8% |
| Associates | 3.2% |
| Bachelors | 72.6% |
| Masters | 19.4% |
| Doctorate | 0.0% |
Understanding how a Insurance Underwriter II's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on March 01, 2026Promotions are the fastest way to increase your earnings. As a Insurance Underwriter II, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.
| Next Step Role | Estimate Salary | Projected Raise |
|---|---|---|
| Health Insurance Senior Underwriter | $92,700 | 30% |
| Life Insurance Underwriter III | $92,700 | 30% |
| Property Casualty Insurance Underwriter III | $92,700 | 30% |
| Insurance Underwriter III | $92,700 | 30% |
Salaries for a Insurance Underwriter II can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $78,379 in 2023 to around $74,033 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Insurance Underwriter II salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $78,379 |
| 2024 | $75,848 |
| 2025 | $74,033 |
| 2026 |
View More
|
| 2027 |
View More
|
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Insurance underwriters typically work a standard 40-hour week, though they may occasionally work longer hours. Their salary ranges from $66,700 to $86,000, with a median salary of $74,500. Some positions may require travel for out-of-town company meetings.
While being an underwriter offers competitive salaries, it is unlikely to reach six figures based on current data. Insurance underwriters earn between $66,700 and $86,000 annually, with a mid-salary of $74,500. This range indicates a solid income, but not typically in the six-figure bracket.
Insurance underwriters can expect a salary range between $66,700 and $86,000, with a median salary of $74,500. States like California and Pennsylvania typically offer higher pay, with California's hourly rate around $34 and Pennsylvania's at approximately $31.48, reflecting the demand for skilled underwriters in these regions.
Second-level underwriting involves a human underwriter reviewing loans that automated systems cannot approve. This process ensures that deserving applicants are not denied. However, the guidelines for debt-to-income ratios are stricter for these manually underwritten loans, resulting in a lower approval rate. Insurance underwriters typically earn between $66,700 and $86,000, with a median salary of $74,500.
Insurance underwriters can earn a competitive salary, with a minimum of $66,700, a mid-range salary of $74,500, and a maximum of $86,000 annually. While some industries may offer higher salaries, these figures reflect a solid earning potential in the field.
Top insurance underwriters can earn between $66,700 and $86,000 annually, with a median salary of $74,500. While entry-level positions may start lower, experienced underwriters can command higher salaries, especially in senior roles.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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