Business & Finance Silver Spring, MD Pop. 81,015

Insurance Underwriter Salary in Silver Spring, Maryland

The median insurance underwriter salary in Silver Spring, MD is $98,882 per year, which is 27.0% above the national median and 10.4% above the Maryland state average.

City Median
$98,882
vs State Avg
+$9,343
vs National
+$21,022
Cost of Living
122%

Insurance Underwriter Salary in Silver Spring by Experience

In Silver Spring, an entry-level insurance underwriter earns around $63,500, while experienced professionals earn up to $146,050 per year. The local cost of living index is 122% of the national average.

Entry Level (0-2 yrs)
$63,500
+$13,500 vs national
Mid Level (3-7 yrs)
$99,060
+$21,060 vs national
Senior Level (8+ yrs)
$146,050
+$31,050 vs national

Salary Percentiles in Silver Spring, MD

Percentile Silver Spring
10th Percentile $61,722
25th Percentile $77,724
Median (50th) $98,882
75th Percentile $127,000
90th Percentile $160,528

Insurance Underwriter Salary in Other Maryland Cities

Columbia, MD
$95,768
Pop. 104,681
Germantown, MD
$93,432
Pop. 90,676
Baltimore, MD
$87,982
Pop. 585,708
Waldorf, MD
$85,646
Pop. 77,000

How to Become a Insurance Underwriter in Silver Spring

Education

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

Find Insurance Underwriter Jobs in Silver Spring

Browse open insurance underwriter positions in Silver Spring, MD:

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Frequently Asked Questions: Insurance Underwriter Salary in Silver Spring

How much does a Insurance Underwriter make in Silver Spring, MD? ▼
The median insurance underwriter salary in Silver Spring, Maryland is $98,882 per year, which is 27.0% above the national median of $77,860. Salaries range from $61,722 (10th percentile) to $160,528 (90th percentile).
How much does a Insurance Underwriter make per hour in Silver Spring? ▼
Based on the median annual salary of $98,882, a insurance underwriter in Silver Spring earns approximately $48 per hour assuming a standard 2,080-hour work year.
How does Silver Spring compare to the Maryland state average for insurance underwriter pay? ▼
Silver Spring's median insurance underwriter salary of $98,882 is 10.4% above the Maryland state average of $89,539. The local cost of living index is 122% of the national average.
What is the cost of living in Silver Spring, MD? ▼
Silver Spring has a cost of living index of 122% compared to the national average. This means a insurance underwriter salary of $98,882 in Silver Spring has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Silver Spring? ▼
Most insurance underwriter positions in Silver Spring 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.