Business & Finance Springfield, IL Pop. 114,394

Insurance Underwriter Salary in Springfield, Illinois

The median insurance underwriter salary in Springfield, IL is $70,853 per year, which is 9% below the national median and 9.9% below the Illinois state average.

City Median
$70,853
vs State Avg
$-7,786
vs National
$-7,007
Cost of Living
85%

Insurance Underwriter Salary in Springfield by Experience

In Springfield, an entry-level insurance underwriter earns around $45,500, while experienced professionals earn up to $104,650 per year. The local cost of living index is 85% of the national average.

Entry Level (0-2 yrs)
$45,500
$-4,500 vs national
Mid Level (3-7 yrs)
$70,980
$-7,020 vs national
Senior Level (8+ yrs)
$104,650
$-10,350 vs national

Salary Percentiles in Springfield, IL

Percentile Springfield
10th Percentile $44,226
25th Percentile $55,692
Median (50th) $70,853
75th Percentile $91,000
90th Percentile $115,024

Insurance Underwriter Salary in Other Illinois Cities

Naperville, IL
$88,760
Pop. 149,540
Chicago, IL
$87,982
Pop. 2,693,976
Aurora, IL
$78,639
Pop. 197,757
Rockford, IL
$68,517
Pop. 148,655

How to Become a Insurance Underwriter in Springfield

Education

Most insurance underwriter positions require a bachelor's degree. Springfield 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 Springfield may vary based on local industry and population growth.

Find Insurance Underwriter Jobs in Springfield

Browse open insurance underwriter positions in Springfield, IL:

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Frequently Asked Questions: Insurance Underwriter Salary in Springfield

How much does a Insurance Underwriter make in Springfield, IL? ▼
The median insurance underwriter salary in Springfield, Illinois is $70,853 per year, which is 9% below the national median of $77,860. Salaries range from $44,226 (10th percentile) to $115,024 (90th percentile).
How much does a Insurance Underwriter make per hour in Springfield? ▼
Based on the median annual salary of $70,853, a insurance underwriter in Springfield earns approximately $34 per hour assuming a standard 2,080-hour work year.
How does Springfield compare to the Illinois state average for insurance underwriter pay? ▼
Springfield's median insurance underwriter salary of $70,853 is 9.9% below the Illinois state average of $78,639. The local cost of living index is 85% of the national average.
What is the cost of living in Springfield, IL? ▼
Springfield has a cost of living index of 85% compared to the national average. This means a insurance underwriter salary of $70,853 in Springfield has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Springfield? ▼
Most insurance underwriter positions in Springfield 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.