Insurance Underwriter salary in Chicago-Naperville-Elgin, IL-IN
Insurance Underwriters in the Chicago-Naperville-Elgin, IL-IN metro area earn a median of $99,840 a year ($48.00 an hour), based on BLS data for 4,060 workers.
Pay ranges from $64,360 for the lowest-paid 10% to $164,440 for the top 10%. That is 23% higher than the national median of $81,370. Pay here is 11% higher than the Illinois statewide median of $89,620. There are 0.90 insurance underwriters per 1,000 jobs here — the job is 1.3× more common than nationally. The average (mean) salary is $106,450, above the median because a few high earners pull it up.
Pay range for insurance underwriters in Chicago-Naperville-Elgin, IL-IN
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $64,360 | $30.94 |
| 25th percentile | $76,660 | $36.86 |
| Median | $99,840 | $48.00 |
| 75th percentile | $130,050 | $62.52 |
| 90th percentile (top earners) | $164,440 | $79.06 |
| Average (mean) | $106,450 | $51.18 |
Half of insurance underwriters earn more than the median and half earn less. Percentiles show the spread: 10% earn less than the 10th percentile, and 10% earn more than the 90th.
Median paycheck, before taxes
| Pay period | Amount |
|---|---|
| Monthly | $8,320 |
| Semi-monthly (24 a year) | $4,160 |
| Biweekly (26 a year) | $3,840 |
| Weekly | $1,920 |
| Hourly | $48.00 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Buying a home? On a $99,840 salary, see how much house you can afford in Illinois at today's mortgage rates, or work out a payment with the mortgage calculator.
Insurance Underwriter salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Lafayette-West Lafayette, IN | $95,130 | 50 |
| St. Louis, MO-IL | $82,270 | 990 |
| Cincinnati, OH-KY-IN | $82,110 | 1,690 |
| Davenport-Moline-Rock Island, IA-IL | $80,070 | 80 |
| Indianapolis-Carmel-Greenwood, IN | $79,280 | 1,150 |
| Louisville/Jefferson County, KY-IN | $76,450 | 430 |
| Peoria, IL | $75,910 | 250 |
| Springfield, IL | $74,680 | 70 |
| Fort Wayne, IN | $64,490 | 330 |
Highest-paying states for insurance underwriters
| State | Median salary |
|---|---|
| Massachusetts | $106,640 |
| New Hampshire | $103,940 |
| Nevada | $101,440 |
| Connecticut | $100,690 |
| Colorado | $100,640 |
| Washington | $99,400 |
| New York | $97,450 |
| Wisconsin | $97,370 |
| New Jersey | $96,220 |
| Maine | $95,510 |
See Insurance Underwriter pay in every state or the Illinois statewide figures.
Related jobs in Chicago-Naperville-Elgin, IL-IN
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $82,360 | $39.60 |
| Financial and Investment Analysts | $101,750 | $48.92 |
| Personal Financial Advisor | $113,210 | $54.43 |
| Loan Officer | $80,040 | $38.48 |
| Financial Specialists, All Other | $81,740 | $39.30 |
| Financial Examiner | $98,470 | $47.34 |
| Credit Analyst | $92,900 | $44.67 |
| Financial Risk Specialist | $105,370 | $50.66 |
| Tax Preparer | $48,670 | $23.40 |
| Property Appraisers and Assessors | $76,520 | $36.79 |
| Credit Counselor | $57,210 | $27.51 |
| Tax Examiners and Collectors, and Revenue Agents | $93,590 | $45.00 |
| Budget Analyst | $88,460 | $42.53 |
| Management Analyst | $105,090 | $50.53 |
More: Business and Financial Operations Occupations · all salaries in Chicago-Naperville-Elgin, IL-IN
Source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics, May 2025 estimates, occupation code 13-2053. Wages include base pay, tips, commissions and shift pay, but not overtime, bonuses or benefits, and exclude the self-employed.
Frequently asked questions
How much does a insurance underwriter make in Chicago-Naperville-Elgin, IL-IN?
The median salary for insurance underwriters in the Chicago-Naperville-Elgin, IL-IN metro area is $99,840 a year, or $48.00 an hour. Pay ranges from $64,360 for the lowest-paid 10% to $164,440 for the top 10%.
How much do the highest-paid insurance underwriters make in Chicago-Naperville-Elgin, IL-IN?
The top 10% of insurance underwriters in the Chicago-Naperville-Elgin, IL-IN metro area earn at least $164,440 a year. The top 25% earn $130,050 or more.
What is the starting pay for insurance underwriters in Chicago-Naperville-Elgin, IL-IN?
Entry-level pay (the 10th percentile) is about $64,360 a year, and a quarter of insurance underwriters earn $76,660 or less.
How many insurance underwriters work in Chicago-Naperville-Elgin, IL-IN?
About 4,060 insurance underwriters are employed in the Chicago-Naperville-Elgin, IL-IN metro area, not counting the self-employed.