Business & Finance Newark, NJ
Pop. 311,549
Insurance Underwriter Salary in Newark, New Jersey
The median insurance underwriter salary in Newark, NJ is $93,432 per year, which is 20.0% above the national median and 2.4% below the New Jersey state average.
City Median
$93,432
vs State Avg
$-2,336
vs National
+$15,572
Cost of Living
112%
Insurance Underwriter Salary in Newark by Experience
In Newark, 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 112% 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 Newark, NJ
| Percentile | Newark |
|---|---|
| 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 New Jersey Cities
How to Become a Insurance Underwriter in Newark
Education
Most insurance underwriter positions require a bachelor's degree. Newark and the surrounding New Jersey 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 Newark may vary based on local industry and population growth.