Insurance Underwriter Salary in Chicago, Illinois
The median insurance underwriter salary in Chicago, IL is $87,982 per year, which is 13.0% above the national median and 11.9% above the Illinois state average.
Insurance Underwriter Pay in Chicago: What to Expect (2026)
Chicago offers a median insurance underwriter salary of $87,982, which is $9,343 above the Illinois state average of $78,639. Compared to the national median of $77,860, Chicago pays above average for this role.
Chicago's cost of living is 107% of the national average, meaning salary figures here closely reflect actual purchasing power. This makes direct comparisons to other cities straightforward.
The salary range for insurance underwriters in Chicago spans from $54,918 at the 10th percentile to $142,832 at the 90th percentile — a $87,914 spread. Entry-level professionals start around $56,500, while senior insurance underwriters with 8+ years of experience can earn up to $129,950. As a major metro area with a population of 2,693,976, Chicago typically offers more job opportunities and employer competition, which can drive salaries higher.
Insurance Underwriter Salary in Chicago by Experience
In Chicago, an entry-level insurance underwriter earns around $56,500, while experienced professionals earn up to $129,950 per year. The local cost of living index is 107% of the national average.
Salary Percentiles in Chicago, IL
| Percentile | Chicago |
|---|---|
| 10th Percentile | $54,918 |
| 25th Percentile | $69,156 |
| Median (50th) | $87,982 |
| 75th Percentile | $113,000 |
| 90th Percentile | $142,832 |
Insurance Underwriter Salary in Other Illinois Cities
How to Become a Insurance Underwriter in Chicago
Education
Most insurance underwriter positions require a bachelor's degree. Chicago and the surrounding Illinois area have institutions offering relevant programs.
Key Skills
Job Outlook
Nationally, insurance underwriter employment is projected to grow -2% over the next decade (decline). Demand in Chicago may vary based on local industry and population growth.
Find Insurance Underwriter Jobs in Chicago
Browse open insurance underwriter positions in Chicago, IL: