Business & Finance Paterson, NJ Pop. 159,732

Insurance Underwriter Salary in Paterson, New Jersey

The median insurance underwriter salary in Paterson, NJ is $87,982 per year, which is 13.0% above the national median and 8.1% below the New Jersey state average.

City Median
$87,982
vs State Avg
$-7,786
vs National
+$10,122
Cost of Living
105%

Insurance Underwriter Salary in Paterson by Experience

In Paterson, an entry-level insurance underwriter earns around $56,500, while experienced professionals earn up to $129,950 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$56,500
+$6,500 vs national
Mid Level (3-7 yrs)
$88,140
+$10,140 vs national
Senior Level (8+ yrs)
$129,950
+$14,950 vs national

Salary Percentiles in Paterson, NJ

Percentile Paterson
10th Percentile $54,918
25th Percentile $69,156
Median (50th) $87,982
75th Percentile $113,000
90th Percentile $142,832

Insurance Underwriter Salary in Other New Jersey Cities

Jersey City, NJ
$105,890
Pop. 292,449
Edison, NJ
$95,768
Pop. 107,588
Newark, NJ
$93,432
Pop. 311,549
Elizabeth, NJ
$90,318
Pop. 137,298

How to Become a Insurance Underwriter in Paterson

Education

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

Find Insurance Underwriter Jobs in Paterson

Browse open insurance underwriter positions in Paterson, NJ:

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Frequently Asked Questions: Insurance Underwriter Salary in Paterson

How much does a Insurance Underwriter make in Paterson, NJ? ▼
The median insurance underwriter salary in Paterson, New Jersey is $87,982 per year, which is 13.0% above the national median of $77,860. Salaries range from $54,918 (10th percentile) to $142,832 (90th percentile).
How much does a Insurance Underwriter make per hour in Paterson? ▼
Based on the median annual salary of $87,982, a insurance underwriter in Paterson earns approximately $42 per hour assuming a standard 2,080-hour work year.
How does Paterson compare to the New Jersey state average for insurance underwriter pay? ▼
Paterson's median insurance underwriter salary of $87,982 is 8.1% below the New Jersey state average of $95,768. The local cost of living index is 105% of the national average.
What is the cost of living in Paterson, NJ? ▼
Paterson has a cost of living index of 105% compared to the national average. This means a insurance underwriter salary of $87,982 in Paterson has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a insurance underwriter in Paterson? ▼
Most insurance underwriter positions in Paterson 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.