Insurance Underwriters Salary in Minnesota
Official Bureau of Labor Statistics Data - May 2024 - MN
Median Annual Salary in Minnesota
$80,974
$38.93 / hour
▲ 4.0% above national avg
National Median
$77,860
$37.43 / hour nationally
COL-Adjusted Purchasing Power
$78,616
Missouri equivalent (COL: 103)
Insurance Underwriters Salary in Minnesota
| Percentile | Annual Salary |
|---|---|
| 10th (Entry Level) | $42,916 |
| 25th Percentile | $58,301 |
| 50th (Median) | $80,974 |
| 75th Percentile | $111,744 |
| 90th (Top Earners) | $139,275 |
| Source: U.S. Bureau of Labor Statistics OEWS, May 2024 | |
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Cost of Living Adjusted Salary
The Minnesota median salary of $80,974 for Insurance Underwriters has the purchasing power of approximately $78,616 in Missouri (the COL baseline state with index 100).
Minnesota's higher cost of living (COL index: 103) reduces the real purchasing power of wages compared to lower-cost states.
COL data: MERIC 2024 State Cost of Living Index. Missouri = 100 baseline.
Frequently Asked Questions
How much do Insurance Underwriters make in Minnesota?
Insurance Underwriters in Minnesota earn a median annual salary of $80,974 per year ($38.93/hr) according to BLS OEWS data (May 2024). This is above the national median of $77,860.
Is Minnesota a good state for Insurance Underwriters?
Minnesota pays above the national average for insurance underwriters, making it a competitive market for this occupation. Cost of living in Minnesota is near the national average (COL index: 103).
What is the cost-of-living adjusted salary for Insurance Underwriters in Minnesota?
After adjusting for cost of living (COL index: 103 vs. Missouri baseline of 100), the $80,974 salary in Minnesota has the purchasing power of approximately $78,616 in Missouri. Higher living costs in Minnesota reduce real purchasing power.
How does Minnesota compare to neighboring states for Insurance Underwriters salaries?
For detailed comparison across all states, see the full Insurance Underwriters salary page at the national level, which includes a complete 50-state salary table.
Top Paying Jobs in Minnesota
| # | Job Title | Median Annual |
|---|---|---|
| 1 | Anesthesiologists | $345,488 |
| 2 | Radiologists | $322,317 |
| 3 | Orthopedic Surgeons, Except Pediatric | $318,469 |
| 4 | Neurologists | $307,424 |
| 5 | Surgeons, All Other | $306,301 |
| 6 | Ophthalmologists, Except Pediatric | $282,755 |
| 7 | Psychiatrists | $259,790 |
| 8 | Physicians, Pathologists | $253,677 |
| Source: BLS OEWS May 2024 | ||
About Insurance Underwriters in Minnesota
Insurance Underwriters work in their specialized field applying expertise and skills to deliver value in their organization. This occupation is part of the business finance sector of the U.S. economy.
Education Required: Bachelor's degree