Business & Finance Germantown, MD Pop. 90,676

Insurance Underwriter Salary in Germantown, Maryland

The median insurance underwriter salary in Germantown, MD is $93,432 per year, which is 20.0% above the national median and 4.3% above the Maryland state average.

City Median
$93,432
vs State Avg
+$3,893
vs National
+$15,572
Cost of Living
115%

Insurance Underwriter Salary in Germantown by Experience

In Germantown, an entry-level insurance underwriter earns around $60,000, while experienced professionals earn up to $138,000 per year. The local cost of living index is 115% of the national average.

Entry Level (0-2 yrs)
$60,000
+$10,000 vs national
Mid Level (3-7 yrs)
$93,600
+$15,600 vs national
Senior Level (8+ yrs)
$138,000
+$23,000 vs national

Salary Percentiles in Germantown, MD

Percentile Germantown
10th Percentile $58,320
25th Percentile $73,440
Median (50th) $93,432
75th Percentile $120,000
90th Percentile $151,680

Insurance Underwriter Salary in Other Maryland Cities

Silver Spring, MD
$98,882
Pop. 81,015
Columbia, MD
$95,768
Pop. 104,681
Baltimore, MD
$87,982
Pop. 585,708
Waldorf, MD
$85,646
Pop. 77,000

How to Become a Insurance Underwriter in Germantown

Education

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

Find Insurance Underwriter Jobs in Germantown

Browse open insurance underwriter positions in Germantown, MD:

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Frequently Asked Questions: Insurance Underwriter Salary in Germantown

How much does a Insurance Underwriter make in Germantown, MD? ▼
The median insurance underwriter salary in Germantown, Maryland is $93,432 per year, which is 20.0% above the national median of $77,860. Salaries range from $58,320 (10th percentile) to $151,680 (90th percentile).
How much does a Insurance Underwriter make per hour in Germantown? ▼
Based on the median annual salary of $93,432, a insurance underwriter in Germantown earns approximately $45 per hour assuming a standard 2,080-hour work year.
How does Germantown compare to the Maryland state average for insurance underwriter pay? ▼
Germantown's median insurance underwriter salary of $93,432 is 4.3% above the Maryland state average of $89,539. The local cost of living index is 115% of the national average.
What is the cost of living in Germantown, MD? ▼
Germantown has a cost of living index of 115% compared to the national average. This means a insurance underwriter salary of $93,432 in Germantown has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Germantown? ▼
Most insurance underwriter positions in Germantown 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.