Insurance Underwriter salary in Minnesota
Insurance Underwriters in Minnesota earn a median of $80,700 a year ($38.80 an hour), based on BLS data for 2,550 workers.
Pay ranges from $60,350 for the lowest-paid 10% to $138,710 for the top 10%. That is 1% lower than the national median of $81,370. Minnesota ranks 21st of 49 states for insurance underwriters pay. There are 0.86 insurance underwriters per 1,000 jobs here — the job is 1.3× more common than nationally. The average (mean) salary is $95,750, above the median because a few high earners pull it up.
Pay range for insurance underwriters in Minnesota
| Pay level | Yearly | Hourly |
|---|---|---|
| 10th percentile (entry level) | $60,350 | $29.01 |
| 25th percentile | $73,330 | $35.26 |
| Median | $80,700 | $38.80 |
| 75th percentile | $124,980 | $60.09 |
| 90th percentile (top earners) | $138,710 | $66.69 |
| Average (mean) | $95,750 | $46.03 |
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 | $6,725 |
| Semi-monthly (24 a year) | $3,362.50 |
| Biweekly (26 a year) | $3,103.85 |
| Weekly | $1,551.92 |
| Hourly | $38.80 |
Based on a full-time year of 2,080 hours. Convert any amount with the hourly to salary converter.
Insurance Underwriter salary in cities in Minnesota
| Metro area | Median salary | Workers |
|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | $82,980 | 1,880 |
| Sioux Falls, SD-MN | $77,160 | 150 |
| Fargo, ND-MN | $74,130 | 130 |
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 |
Related jobs in Minnesota
| Job | Median salary | Hourly |
|---|---|---|
| Accountants and Auditors | $81,600 | $39.23 |
| Financial and Investment Analysts | $102,990 | $49.52 |
| Loan Officer | $95,170 | $45.76 |
| Personal Financial Advisor | $102,660 | $49.36 |
| Property Appraisers and Assessors | $83,400 | $40.10 |
| Financial Examiner | $104,260 | $50.12 |
| Financial Risk Specialist | $105,420 | $50.68 |
| Tax Examiners and Collectors, and Revenue Agents | $79,000 | $37.98 |
| Credit Analyst | $82,630 | $39.73 |
| Tax Preparer | $59,200 | $28.46 |
| Financial Specialists, All Other | $83,280 | $40.04 |
| Credit Counselor | $62,160 | $29.89 |
| Budget Analyst | $85,970 | $41.33 |
| Market Research Analysts and Marketing Specialists | $87,510 | $42.07 |
More: Business and Financial Operations Occupations · all salaries in Minnesota
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 Minnesota?
The median salary for insurance underwriters in Minnesota is $80,700 a year, or $38.80 an hour. Pay ranges from $60,350 for the lowest-paid 10% to $138,710 for the top 10%.
How much do the highest-paid insurance underwriters make in Minnesota?
The top 10% of insurance underwriters in Minnesota earn at least $138,710 a year. The top 25% earn $124,980 or more.
What is the starting pay for insurance underwriters in Minnesota?
Entry-level pay (the 10th percentile) is about $60,350 a year, and a quarter of insurance underwriters earn $73,330 or less.
How many insurance underwriters work in Minnesota?
About 2,550 insurance underwriters are employed in Minnesota, not counting the self-employed.