Insurance Underwriters Salary
Insurance Underwriters in Illinois make a median of $89,620 a year, or about $43.09 an hour. The range runs from $60K at the entry level to $161K for experienced workers. Cost of living is below average (RPP 93.85), which stretches that salary to about $95,493 in buying power. Rent on a 2-bedroom averages $1,407/month, or 24.8% of estimated take-home pay.
Statewide average. Salary and cost of living vary significantly across Illinois. Jump to a metro for precise data:
So what does $90K get you in Illinois?
About insurance underwriters
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What this looks like in Illinois
Insurance underwriters pay in Illinois tracks closely to the national median, $90K locally vs. $81K nationwide, a 10% difference. Rent runs $1,407/month for a 2-bedroom (HUD FMR), taking 25.2% of the median take-home. That's within the 30% rule, though not by much. Regional Price Parity sits at 93.85 (national = 100), meaning everyday costs run about 6% cheaper here. Your dollar stretches further than the headline salary suggests. Pay and costs are both near average, leaving limited margin for savings at the median wage.
Compensation breakdown
Annual earnings by percentile, Illinois
Entry-level insurance underwriters (10th percentile) start around $60K. Mid-career wages sit at $90K. Top earners bring in $161K or more, a $102K spread from bottom to top.
Insurance Underwriters salary by metro in Illinois
3 metro areas with BLS data, ranked by median pay
| Metro area | Median salary | vs. state | Employment |
|---|---|---|---|
| Chicago-Naperville-Elgin | $100K | +11% | 4,060 |
| Peoria | $76K | -15% | 250 |
| Springfield | $75K | -17% | 70 |
Compare to other states
Track insurance underwriters salary changes
BLS updates this data quarterly. We'll email you when Illinois numbers change.
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Frequently asked questions
Can a insurance underwriter afford a 2BR apartment alone in Illinois?
Yes — at the median salary of $90K, rent takes 25.2% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,407/month. That stays under the 30% guideline most financial planners use.
What’s the entry-level salary for insurance underwriters in Illinois?
The 10th-percentile wage — what new insurance underwriters typically earn — is $60K/year. Take-home on that works out to about $3,584/month. At HUD’s $1,407/month FMR, rent would take 39% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.
Is insurance underwriter a high-paying job in Illinois?
Pay here is roughly in line with the national average — $90K locally vs. $81K nationally, a 10% difference.
How does Illinois compare to the national average for insurance underwriters?
Illinois pays $90K median vs. the U.S. average of $81K — that’s +10%. After adjusting for local cost of living (RPP 93.85), the purchasing-power equivalent is $95K — still ahead of the national median.
How much do insurance underwriters make in Illinois?
The median is $89,620 a year, that works out to about $43 an hour. But the range is wide: entry-level workers start around $59,730, and experienced insurance underwriters can clear $161,410. These are BLS numbers, based on employer-reported data, not self-reported surveys.
Is $90K enough to live in Illinois?
On that salary, you'd take home roughly $5,583/month after taxes. A 2-bedroom here rents for about $1,407/month, which eats 25.2% of your paycheck. That's under the 30% guideline most financial planners use, so the numbers work.
How far does a insurance underwriters salary go in Illinois?
Illinois has a Regional Price Parity of 93.85 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median insurance underwriters salary is worth about $95,493 in national-average purchasing power.
Where do insurance underwriters get paid the most?
The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.