Business & Finance Chicago, IL
Pop. 2,693,976
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
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.