As of March 01, 2026, the average salary for an Insurance Underwriter V in the United States is $133,500 per year, which breaks down to an hourly rate of $64.
However, an Insurance Underwriter V's salary can vary significantly. Here’s a look at the typical salary range:
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An Insurance Underwriter V'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 and company size can directly affect your earning potential.
Experience is a primary driver of an Insurance Underwriter V'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 III | 4-7 years | $92,692 |
| Insurance Underwriter IV | 7+ years | $108,290 |
| Insurance Underwriter V | 7-10 years | $133,449 |
| Underwriting Operations Supervisor | 10+ years | $104,450 |
| Underwriting Operations Manager | 10+ years | $119,595 |
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 Vs. For example, consider the average annual salaries in these key locations:
Understanding how an Insurance Underwriter V'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 an Insurance Underwriter V, 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 Underwriting Manager | $131,700 | -1% |
| Life Insurance Underwriting Supervisor | $117,200 | -12% |
| P/C Underwriting Supervisor | $115,200 | -14% |
| Underwriting Operations Supervisor | $104,450 | -22% |
Salaries for an Insurance Underwriter V can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $149,700 in 2023 to around $132,392 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Insurance Underwriter V salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
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| 2023 | $149,700 |
| 2024 | $140,401 |
| 2025 | $132,392 |
| 2026 |
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| 2027 |
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Top insurance underwriters can earn a competitive salary, with minimum earnings around $126,400, a mid-range salary of approximately $149,300, and maximum salaries reaching up to $175,900. This reflects the significant expertise and responsibility associated with the role, especially for senior positions.
The highest-paying type of Insurance Underwriter is the Chief Underwriter, with a salary range starting at $126,400 and potentially reaching up to $175,900 per year. Other high-paying roles include Underwriting Director and Senior Underwriter, with salaries typically between $149,300 and $175,900, depending on experience and responsibilities.
The estimated total pay range for an Insurance Underwriter is between $126,400 and $175,900 per year, reflecting base salary and potential additional compensation. The mid-salary stands at $149,300, indicating a competitive earning potential in this field.
Yes, underwriters are in demand, but the job market is projected to decline by 2.5% from 2022 to 2032, with around 125,500 underwriters currently employed in the U.S. Salaries for insurance underwriters range from a minimum of $126,400 to a mid-level of $149,300, reaching up to a maximum of $175,900, reflecting the importance of their role in the industry.
Insurance underwriters can expect competitive salaries across various states. The average salary ranges from a minimum of $126,400 to a mid-range of $149,300, with a maximum of $175,900. States like California and Pennsylvania typically offer higher hourly rates, reflecting the demand and cost of living in those areas.
Yes, you can definitely make six figures as an underwriter. The salary data indicates that the minimum salary is $126,400, with a mid-range salary of $149,300 and a maximum salary of $175,900. This shows that underwriters typically earn well above six figures, reflecting the demand and expertise required in this profession.
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