Business & Finance Minneapolis, MN Pop. 429,954

Insurance Underwriter Salary in Minneapolis, Minnesota

The median insurance underwriter salary in Minneapolis, MN is $83,310 per year, which is 7.0% above the national median and 8.1% above the Minnesota state average.

City Median
$83,310
vs State Avg
+$6,229
vs National
+$5,450
Cost of Living
105%

Insurance Underwriter Salary in Minneapolis by Experience

In Minneapolis, an entry-level insurance underwriter earns around $53,500, while experienced professionals earn up to $123,050 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$53,500
+$3,500 vs national
Mid Level (3-7 yrs)
$83,460
+$5,460 vs national
Senior Level (8+ yrs)
$123,050
+$8,050 vs national

Salary Percentiles in Minneapolis, MN

Percentile Minneapolis
10th Percentile $52,002
25th Percentile $65,484
Median (50th) $83,310
75th Percentile $107,000
90th Percentile $135,248

Insurance Underwriter Salary in Other Minnesota Cities

Bloomington, MN
$80,974
Pop. 89,987
Saint Paul, MN
$79,417
Pop. 311,527
Rochester, MN
$77,860
Pop. 121,395
Duluth, MN
$71,631
Pop. 90,884

How to Become a Insurance Underwriter in Minneapolis

Education

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

Find Insurance Underwriter Jobs in Minneapolis

Browse open insurance underwriter positions in Minneapolis, MN:

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Frequently Asked Questions: Insurance Underwriter Salary in Minneapolis

How much does a Insurance Underwriter make in Minneapolis, MN? ▼
The median insurance underwriter salary in Minneapolis, Minnesota is $83,310 per year, which is 7.0% above the national median of $77,860. Salaries range from $52,002 (10th percentile) to $135,248 (90th percentile).
How much does a Insurance Underwriter make per hour in Minneapolis? ▼
Based on the median annual salary of $83,310, a insurance underwriter in Minneapolis earns approximately $40 per hour assuming a standard 2,080-hour work year.
How does Minneapolis compare to the Minnesota state average for insurance underwriter pay? ▼
Minneapolis's median insurance underwriter salary of $83,310 is 8.1% above the Minnesota state average of $77,081. The local cost of living index is 105% of the national average.
What is the cost of living in Minneapolis, MN? ▼
Minneapolis has a cost of living index of 105% compared to the national average. This means a insurance underwriter salary of $83,310 in Minneapolis has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Minneapolis? ▼
Most insurance underwriter positions in Minneapolis 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.