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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.

City Median
$87,982
vs State Avg
+$9,343
vs National
+$10,122
Cost of Living
107%

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.

Entry Level (0-2 yrs)
$56,500
+$6,500 vs national
Mid Level (3-7 yrs)
$88,140
+$10,140 vs national
Senior Level (8+ yrs)
$129,950
+$14,950 vs national

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

Naperville, IL
$88,760
Pop. 149,540
Aurora, IL
$78,639
Pop. 197,757
Springfield, IL
$70,853
Pop. 114,394
Rockford, IL
$68,517
Pop. 148,655

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

Risk AssessmentAnalytical SkillsInsurance RegulationsUnderwriting SoftwareDecision-MakingAttention to Detail

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:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Insurance Underwriter Salary in Chicago

How much does a Insurance Underwriter make in Chicago, IL? ▼
The median insurance underwriter salary in Chicago, Illinois is $87,982 per year, which is 13.0% above the national median of $77,860. Salaries range from $54,918 (10th percentile) to $142,832 (90th percentile).
How much does a Insurance Underwriter make per hour in Chicago? ▼
Based on the median annual salary of $87,982, a insurance underwriter in Chicago earns approximately $42 per hour assuming a standard 2,080-hour work year.
How does Chicago compare to the Illinois state average for insurance underwriter pay? ▼
Chicago's median insurance underwriter salary of $87,982 is 11.9% above the Illinois state average of $78,639. The local cost of living index is 107% of the national average.
What is the cost of living in Chicago, IL? ▼
Chicago has a cost of living index of 107% compared to the national average. This means a insurance underwriter salary of $87,982 in Chicago has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Chicago? ▼
Most insurance underwriter positions in Chicago require a bachelor's degree. Key skills include Risk Assessment, Analytical Skills, Insurance Regulations, Underwriting Software. The job market is projected to grow -2% nationally over the next decade.