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Insurance Underwriter

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AVG. SALARY

$53,620

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

Money & Outlook

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West Virginia Earnings

Average Annual Wage

$53,620

Entry Annual Wage

$29,840

Experienced Annual Wage

$80,170

Average Hourly Wage

$25.78

Entry Hourly Wage

$14.35

Experienced Hourly Wage

$38.55

Median Hourly Wage

$23.86

West Virginia Regional Earnings

West Virginia Metropolitan Areas Wages

Region Average Entry Level Experienced
Charleston MSA $62,030 or $29.82/hr $37,270 or $17.92/hr $94,340 or $45.36/hr
Washington-Arlington-Alexandria DC-VA-MD-WV $82,720 or $39.77/hr $50,640 or $24.35/hr $124,580 or $59.90/hr

West Virginia's Employment and Outlook (State-wide)

Outlook Stable
Growth rate is estimated to be 0%
Job Openings 7 estimated annual job openings
Employment 103 were employed in this occupation

West Virginia's Regional Employment and Outlook

Regions with stable outlook (0 to 20% growth rate expected)

Region Employment Projected Growth Rate Annual Openings (growth) Annual Openings (replacement) Annual Openings
Workforce Investment Area 2 18 0% 1 1

National Earnings

Average Annual Wage

$82,990

Average Hourly Wage

$39.90

Average Annual Range

$47,340 to $130,210

Note: variations in salaries reflect differences in size of firm, location, level of education and professional credentials.

Where do these numbers come from?


National Employment and Outlook

Outlook decreasing
  The employment change from 2021 to 2031 is estimated to be -5%.
(The National average for all occupations is +5%)
Job Openings very small number
  Less than 1000 average annual openings are expected for this occupation between 2021 and 2031.
(The National Average for all occupations is 1,757 openings)
Employment small occupation
  This was a small occupation in the United States, employing 123,300 workers in 2021.
(The National average for all occupations is 142,207 workers)
Growth Declining growth
  Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters. As this technology improves and becomes more widely adopted in the insurance industry, more underwriting decisions will likely be made automatically. 
Industries Large concentrations of this occupation are found in these industries
  • Finance and insurance (NAICS520000) (95.2%)
  • Insurance carriers and related activities (NAICS524000) (89.2%)
  • Insurance carriers (NAICS524100) (57.3%)
  • Direct insurance (except life, health, and medical) carriers (NAICS524120) (42.7%)
  • Agencies, brokerages, and other insurance related activities (NAICS524200) (31.9%)
  • Insurance agencies and brokerages (NAICS524210) (27%)