Insurance Underwriter salary in Madison, WI
Insurance Underwriters in the Madison, WI metro area earn a median of $95,130 a year ($45.74 an hour), based on BLS data for 480 workers.
Pay ranges from $62,920 for the lowest-paid 10% to $132,870 for the top 10%. That is 17% higher than the national median of $81,370. Pay here is 2% lower than the Wisconsin statewide median of $97,370. There are 1.2 insurance underwriters per 1,000 jobs here — the job is 1.7× more common than nationally. The average (mean) salary is $95,010, close to the median.
Pay range for insurance underwriters in Madison, WI
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $62,920 | $30.25 |
| 25th percentile | $76,550 | $36.80 |
| Median | $95,130 | $45.74 |
| 75th percentile | $111,630 | $53.67 |
| 90th percentile (top earners) | $132,870 | $63.88 |
| Average (mean) | $95,010 | $45.68 |
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 | $7,927.50 |
| Semi-monthly (24 a year) | $3,963.75 |
| Biweekly (26 a year) | $3,658.85 |
| Weekly | $1,829.42 |
| Hourly | $45.74 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Insurance Underwriter salary in other metro areas nearby
| Metro area | Median salary | Workers |
|---|---|---|
| Milwaukee-Waukesha, WI | $106,570 | 950 |
| Appleton, WI | $95,610 | 120 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $82,980 | 1,880 |
| Wausau, WI | $71,140 | 60 |
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 Wisconsin statewide figures.
Related jobs in Madison, WI
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $81,130 | $39.01 |
| Financial and Investment Analysts | $103,750 | $49.88 |
| Loan Officer | $78,840 | $37.90 |
| Personal Financial Advisor | $126,000 | $60.58 |
| Budget Analyst | $86,340 | $41.51 |
| Financial Specialists, All Other | $76,400 | $36.73 |
| Credit Analyst | $69,130 | $33.24 |
| Financial Examiner | $88,920 | $42.75 |
| Tax Preparer | $45,810 | $22.02 |
| Financial Risk Specialist | $100,350 | $48.25 |
| Property Appraisers and Assessors | $78,610 | $37.79 |
| Credit Counselor | $57,260 | $27.53 |
| Project Management Specialist | $98,990 | $47.59 |
| Management Analyst | $97,170 | $46.72 |
More: Business and Financial Operations Occupations · all salaries in Madison, WI
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 Madison, WI?
The median salary for insurance underwriters in the Madison, WI metro area is $95,130 a year, or $45.74 an hour. Pay ranges from $62,920 for the lowest-paid 10% to $132,870 for the top 10%.
How much do the highest-paid insurance underwriters make in Madison, WI?
The top 10% of insurance underwriters in the Madison, WI metro area earn at least $132,870 a year. The top 25% earn $111,630 or more.
What is the starting pay for insurance underwriters in Madison, WI?
Entry-level pay (the 10th percentile) is about $62,920 a year, and a quarter of insurance underwriters earn $76,550 or less.
How many insurance underwriters work in Madison, WI?
About 480 insurance underwriters are employed in the Madison, WI metro area, not counting the self-employed.