Business & Finance Carmel, IN Pop. 99,757

Insurance Underwriter Salary in Carmel, Indiana

The median insurance underwriter salary in Carmel, IN is $81,753 per year, which is 5.0% above the national median and 16.7% above the Indiana state average.

City Median
$81,753
vs State Avg
+$11,679
vs National
+$3,893
Cost of Living
105%

Insurance Underwriter Pay in Carmel: What to Expect (2026)

Carmel offers a median insurance underwriter salary of $81,753, which is $11,679 above the Indiana state average of $70,074. Compared to the national median of $77,860, Carmel pays above average for this role.

Carmel's cost of living is 105% 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 Carmel spans from $51,030 at the 10th percentile to $132,720 at the 90th percentile — a $81,690 spread. Entry-level professionals start around $52,500, while senior insurance underwriters with 8+ years of experience can earn up to $120,750. Carmel is a smaller market (pop. 99,757), which may mean fewer openings but also less competition for available positions.

Insurance Underwriter Salary in Carmel by Experience

In Carmel, an entry-level insurance underwriter earns around $52,500, while experienced professionals earn up to $120,750 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$52,500
+$2,500 vs national
Mid Level (3-7 yrs)
$81,900
+$3,900 vs national
Senior Level (8+ yrs)
$120,750
+$5,750 vs national

Salary Percentiles in Carmel, IN

Percentile Carmel
10th Percentile $51,030
25th Percentile $64,260
Median (50th) $81,753
75th Percentile $105,000
90th Percentile $132,720

Insurance Underwriter Salary in Other Indiana Cities

Indianapolis, IN
$72,410
Pop. 887,642
Fort Wayne, IN
$66,181
Pop. 263,886
Evansville, IN
$65,402
Pop. 117,429
South Bend, IN
$64,624
Pop. 103,453

How to Become a Insurance Underwriter in Carmel

Education

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

Find Insurance Underwriter Jobs in Carmel

Browse open insurance underwriter positions in Carmel, IN:

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Frequently Asked Questions: Insurance Underwriter Salary in Carmel

How much does a Insurance Underwriter make in Carmel, IN? ▼
The median insurance underwriter salary in Carmel, Indiana is $81,753 per year, which is 5.0% above the national median of $77,860. Salaries range from $51,030 (10th percentile) to $132,720 (90th percentile).
How much does a Insurance Underwriter make per hour in Carmel? ▼
Based on the median annual salary of $81,753, a insurance underwriter in Carmel earns approximately $39 per hour assuming a standard 2,080-hour work year.
How does Carmel compare to the Indiana state average for insurance underwriter pay? ▼
Carmel's median insurance underwriter salary of $81,753 is 16.7% above the Indiana state average of $70,074. The local cost of living index is 105% of the national average.
What is the cost of living in Carmel, IN? ▼
Carmel has a cost of living index of 105% compared to the national average. This means a insurance underwriter salary of $81,753 in Carmel has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Carmel? ▼
Most insurance underwriter positions in Carmel 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.