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

Jersey City, NJ
$105,890
Pop. 292,449
Edison, NJ
$95,768
Pop. 107,588
Elizabeth, NJ
$90,318
Pop. 137,298
Paterson, NJ
$87,982
Pop. 159,732

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.

Find Insurance Underwriter Jobs in Newark

Browse open insurance underwriter positions in Newark, NJ:

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Frequently Asked Questions: Insurance Underwriter Salary in Newark

How much does a Insurance Underwriter make in Newark, NJ? ▼
The median insurance underwriter salary in Newark, New Jersey 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 Newark? ▼
Based on the median annual salary of $93,432, a insurance underwriter in Newark earns approximately $45 per hour assuming a standard 2,080-hour work year.
How does Newark compare to the New Jersey state average for insurance underwriter pay? ▼
Newark's median insurance underwriter salary of $93,432 is 2.4% below the New Jersey state average of $95,768. The local cost of living index is 112% of the national average.
What is the cost of living in Newark, NJ? ▼
Newark has a cost of living index of 112% compared to the national average. This means a insurance underwriter salary of $93,432 in Newark has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Newark? ▼
Most insurance underwriter positions in Newark 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.