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As of August 01, 2026, the average salary for a Middle Market Underwriter in Illinois is $94,736 per year, which breaks down to an hourly rate of $46.
However, a Middle Market Underwriter's salary can vary significantly. Here’s a look at the typical salary range:
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Middle Market Underwriter Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $101,024 | $8,419 | $1,943 | $49 |
| Average | $94,736 | $7,895 | $1,822 | $46 |
| 25th Percentile | $85,454 | $7,121 | $1,643 | $41 |
Berkshire Hathaway Specialty Insurance - Chicago, IL
Liberty Mutual Insurance Group - Chicago, IL
Liberty Information Technology Limited - Naperville, IL
Berkshire Hathaway Specialty Insurance - Chicago, IL
A Middle Market Underwriter'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 a Middle Market Underwriter'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:
| Levels | Salary |
|---|---|
| Underwrit... Level Middle Market Underwriter | $62,271 |
| Underwrit... Level Middle Market Underwriter | $73,370 |
| Middle Ma... Level Middle Market Underwriter | $95,381 |
| Underwrit... Level Middle Market Underwriter | $111,418 |
| Underwrit... Level Middle Market Underwriter | $137,296 |
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 Middle Market Underwriters. For example, consider the average annual salaries in these key locations:
Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:
For Middle Market Underwriter roles, the industry you choose can affect earning potential by as much as 100% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Healthcare sectors offer the strongest compensation, at 50% above the average. In contrast, Middle Market Underwriter positions in Retail & Wholesale or Edu., Gov't. & Nonprofit typically offer lower base pay, as these industries often view Middle Market Underwriter as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $142,104 | $68.0 | 50% |
| Healthcare | $113,683 | $55.0 | 20% |
| Insurance | $104,210 | $50.0 | 10% |
Understanding how a Middle Market Underwriter'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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $101,024 | $8,419 | $1,943 | $49 |
| Average | $94,736 | $7,895 | $1,822 | $46 |
| 25th Percentile | $85,454 | $7,121 | $1,643 | $41 |
Ready to take the next step in your career? Browse thousands of current Middle Market Underwriter job openings on our job board. Use the search bar below to find your perfect match.
The Jonus Group
Chicago, IL
The Jonus Group | Chicago, IL
Job DescriptionMiddle Market Production Account ExecutiveJob SummarySeeking a highly motivated and experienced Middle Market Production Account Executive t... more
6 Days Ago
Confidential
Chicago, IL
Confidential | Chicago, IL
Vice President, Regional Underwriting Manager, Core Middle Market. About the Company. Top provider of insurance products & related services. Industry. Insu... more
6 Days Ago
Zurich Insurance Company Ltd.
Schiller Park, IL
Zurich Insurance Company Ltd. | Schiller Park, IL
Over the past five years, Zurich North America has built a world-class Middle Market operation that serves key industries across the U.S. We strive to asse... more
2 Days Ago
J.P. Morgan
Chicago, IL
Mercer France
Chicago, IL
Mercer France | Chicago, IL
Senior Account Manager. About Marsh McLennan Agency Midwest: Marsh McLennan Agency's Midwest Region is a full-service brokerage providing business insuranc... more
3 Days Ago
Innopay
Chicago, IL
Innopay | Chicago, IL
Senior Account ManagerMarsh McLennan Agency's Midwest Region is a full-service brokerage providing business insurance, employee benefits, private client in... more
6 Days Ago
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