Insurance Underwriter Salary in Memphis, Tennessee
The median insurance underwriter salary in Memphis, TN is $66,960 per year, which is 14% below the national median and 3.4% below the Tennessee state average.
Insurance Underwriter Pay in Memphis: What to Expect (2026)
Memphis offers a median insurance underwriter salary of $66,960, which is $2,335 below the Tennessee state average of $69,295. Compared to the national median of $77,860, Memphis pays below the national benchmark for this role.
One of Memphis's biggest advantages is its low cost of living at 86% of the national average. This means the $66,960 salary stretches further here — equivalent to roughly $77,860 in an average-cost city. This makes Memphis an attractive option for insurance underwriters seeking strong real-dollar compensation.
The salary range for insurance underwriters in Memphis spans from $41,796 at the 10th percentile to $108,704 at the 90th percentile — a $66,908 spread. Entry-level professionals start around $43,000, while senior insurance underwriters with 8+ years of experience can earn up to $98,900. As a major metro area with a population of 633,104, Memphis typically offers more job opportunities and employer competition, which can drive salaries higher.
Insurance Underwriter Salary in Memphis by Experience
In Memphis, an entry-level insurance underwriter earns around $43,000, while experienced professionals earn up to $98,900 per year. The local cost of living index is 86% of the national average.
Salary Percentiles in Memphis, TN
| Percentile | Memphis |
|---|---|
| 10th Percentile | $41,796 |
| 25th Percentile | $52,632 |
| Median (50th) | $66,960 |
| 75th Percentile | $86,000 |
| 90th Percentile | $108,704 |
Insurance Underwriter Salary in Other Tennessee Cities
How to Become a Insurance Underwriter in Memphis
Education
Most insurance underwriter positions require a bachelor's degree. Memphis and the surrounding Tennessee area have institutions offering relevant programs.
Key Skills
Job Outlook
Nationally, insurance underwriter employment is projected to grow -2% over the next decade (decline). Demand in Memphis may vary based on local industry and population growth.
Find Insurance Underwriter Jobs in Memphis
Browse open insurance underwriter positions in Memphis, TN: