Insurance Underwriter

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AVG. SALARY

$72,570

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Decreasing

Money & Outlook

:

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Oklahoma Earnings

Average Annual Wage

$72,570

Entry Annual Wage

$43,080

Experienced Annual Wage

$115,150

Average Hourly Wage

$34.89

Entry Hourly Wage

$20.71

Experienced Hourly Wage

$55.36

Median Hourly Wage

$32.83

Oklahoma Regional Earnings

Oklahoma Metropolitan Areas Wages

Region Average Entry Level Experienced
Oklahoma City MSA $72,850 or $35.02/hr $43,700 or $21.01/hr $108,310 or $52.07/hr
Tulsa MSA $78,200 or $37.60/hr $46,550 or $22.38/hr $126,470 or $60.80/hr

Oklahoma's Employment and Outlook (State-wide)

Outlook Decreasing
Growth rate is estimated to be -2%
Job Openings 64 estimated annual job openings
Employment 970 were employed in this occupation

Oklahoma's Regional Employment and Outlook

Regions with stable outlook (0 to 20% growth rate expected)

Region Employment Projected Growth Rate Annual Openings (growth) Annual Openings (replacement) Annual Openings
Tulsa MSA 140 0% N/A 10
Oklahoma City MSA 490 2% 1 N/A 36

National Earnings

Average Annual Wage

$90,830

Average Hourly Wage

$43.67

Average Annual Range

$51,640 to $138,020

Note: variations in salaries reflect differences in size of firm, location, level of education and professional credentials.

Where do these numbers come from?


National Employment and Outlook

Outlook decreasing
  The employment change from 2023 to 2033 is estimated to be -4%.
(The National average for all occupations is +4%)
Job Openings very small number
  Less than 1000 average annual openings are expected for this occupation between 2023 and 2033.
(The National Average for all occupations is 1,724 openings)
Employment small occupation
  This was a small occupation in the United States, employing 118,400 workers in 2023.
(The National average for all occupations is 150,944 workers)
Growth Declining growth
  Automated underwriting software allows workers to process applications more quickly than before, reducing the need for as many underwriters. As this technology improves and becomes more widely adopted in the insurance industry, more underwriting decisions will likely be made automatically. However, there still will be a need for underwriters to review and update the criteria that run the automation. In addition, their analytical insight will be needed in specific fields, such as workers’ compensation, marine insurance, and health insurance. 
Industries Large concentrations of this occupation are found in these industries
  • Finance and insurance (NAICS520000) (95.1%)
  • Insurance carriers and related activities (NAICS524000) (93.1%)
  • Insurance carriers (NAICS524100) (61.2%)
  • Direct insurance (except life, health, and medical) carriers (NAICS524120) (47.6%)
  • Agencies, brokerages, and other insurance related activities (NAICS524200) (31.9%)
  • Insurance agencies and brokerages (NAICS524210) (27.1%)