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Crunching costs, sorting signals, rendering insights.
Crunching costs, sorting signals, rendering insights.
Real salary distribution from 288 tracked cities across 46 states. Compare entry-level, median, and senior compensation — then adjust for cost of living.
Same job title, wildly different paychecks. Here's why. The national median salary for Underwriters in 2026 is $89,619, with entry-level positions averaging $64,526 and senior roles reaching $127,260. But those numbers flatten a reality with enormous geographic variation — Sunnyvale pays a median of $163,240, while other markets fall well below the national average. We tracked 288 cities to build the complete picture.
Underwriter falls within the Finance & Strategy sector, specifically in Business & Finance. The typical education path involves Bachelor's degree. The career outlook? Declining. Work style is office/remote — which means location flexibility varies, and so does the premium different markets are willing to pay. That salary-to-cost ratio is genuinely competitive.
$99,330 separates the highest and lowest-paying cities. A Underwriter in Sunnyvale, California earns a median of $163,240 — $99,330 more than their counterpart in Toledo, Ohio ($63,910). That gap alone is more than many cities' annual rent. Cost-adjusted, this occupation outearns its reputation.
Breaking down the numbers: entry-level Underwriters average $64,526, the median sits at $89,619, and senior earners pull in $127,260. That $62,734 gap represents the full earning trajectory of this career. The median is $9,252 above the national median household income of $80,367 — meaning even a mid-career professional in this field outearns the typical American household.
The pay gap between the top and bottom markets is dramatic: $152,460 (average of the top 3 cities) versus $64,423 (average of the bottom 3). That $88,037 delta is real money — $7,336/month before taxes. But the highest-paying cities tend to be the most expensive. The cost-adjusted comparison below tells the more important story.
A Underwriter in Sunnyvale, California earns a median of $163,240 — $99,330 more than their counterpart in Toledo, Ohio ($63,910). That gap alone is more than many cities' annual rent.
The national average entry-level (P10) salary for Underwriter is $64,526, while senior-level (P90) earners average $127,260. That $62,734 trajectory represents the earning growth a career in this field can deliver.
At the 90th percentile, Underwriters pull in an average of $127,260. In the top-paying markets, that figure climbs even higher — making this one of the more lucrative career trajectories in its field.
Even at the 10th percentile, Underwriters average $64,526 nationally. That's a higher starting floor than many careers' median — a signal of strong baseline demand and compensation.
| Country | Coverage | Entry (P10) | Median | Senior (P90) |
|---|---|---|---|---|
| United States | 288 | $64,526 | $89,619 | $127,260 |
| United Kingdom | 27 | £36,111 | £50,155 | £71,220 |
| Canada | 21 | CA$49,562 | CA$68,837 | CA$97,748 |
| Australia | 13 | A$56,868 | A$78,984 | A$112,157 |
| Sweden | 24 | 336,645 kr | 467,562 kr | 663,938 kr |
| State | Cities | Entry (P10) | Median | Senior (P90) |
|---|---|---|---|---|
| California | 61 | $77,880 | $108,166 | $153,596 |
| Massachusetts | 4 | $75,260 | $104,528 | $148,429 |
| Hawaii | 1 | $74,844 | $103,950 | $147,609 |
| District of Columbia | 1 | $69,300 | $96,250 | $136,675 |
| New Jersey | 4 | $68,468 | $95,095 | $135,035 |
| Washington | 8 | $67,152 | $93,266 | $132,438 |
| New York | 5 | $63,201 | $87,780 | $124,647 |
| Rhode Island | 1 | $63,202 | $87,780 | $124,648 |
| Florida | 22 | $62,723 | $87,115 | $123,703 |
| Colorado | 11 | $61,639 | $85,610 | $121,566 |
| New Hampshire | 1 | $61,538 | $85,470 | $121,367 |
| Nevada | 5 | $61,427 | $85,316 | $121,149 |
| Arizona | 12 | $61,123 | $84,893 | $120,547 |
| Oregon | 5 | $60,984 | $84,700 | $120,274 |
| Idaho | 3 | $60,799 | $84,443 | $119,910 |
| Connecticut | 5 | $60,319 | $83,776 | $118,962 |
| Utah | 4 | $60,152 | $83,545 | $118,634 |
| Virginia | 7 | $59,162 | $82,170 | $116,681 |
| South Carolina | 3 | $58,397 | $81,107 | $115,171 |
| Alaska | 1 | $58,212 | $80,850 | $114,807 |
| Illinois | 5 | $57,547 | $79,926 | $113,495 |
| North Carolina | 9 | $56,118 | $77,941 | $110,676 |
| New Mexico | 3 | $55,440 | $77,000 | $109,340 |
| Montana | 1 | $55,440 | $77,000 | $109,340 |
| Tennessee | 6 | $55,255 | $76,743 | $108,975 |
| Texas | 40 | $54,983 | $76,365 | $108,438 |
| Minnesota | 2 | $54,886 | $76,230 | $108,247 |
| Wisconsin | 2 | $54,609 | $75,845 | $107,700 |
| Georgia | 6 | $54,424 | $75,588 | $107,336 |
| Pennsylvania | 3 | $54,331 | $75,460 | $107,153 |
| Kansas | 4 | $54,054 | $75,075 | $106,607 |
| Michigan | 6 | $53,869 | $74,818 | $106,242 |
| Kentucky | 2 | $53,223 | $73,920 | $104,967 |
| Maryland | 1 | $53,222 | $73,920 | $104,966 |
| Nebraska | 2 | $52,668 | $73,150 | $103,873 |
| South Dakota | 1 | $52,668 | $73,150 | $103,873 |
| Oklahoma | 4 | $51,282 | $71,225 | $101,140 |
| North Dakota | 1 | $51,005 | $70,840 | $100,593 |
| Louisiana | 4 | $50,312 | $69,878 | $99,226 |
| Missouri | 4 | $50,312 | $69,878 | $99,226 |
| Alabama | 5 | $50,118 | $69,608 | $98,844 |
| Indiana | 3 | $49,342 | $68,530 | $97,313 |
| Arkansas | 1 | $49,342 | $68,530 | $97,313 |
| Iowa | 2 | $48,787 | $67,760 | $96,219 |
| Ohio | 6 | $48,695 | $67,632 | $96,037 |
| Mississippi | 1 | $46,570 | $64,680 | $91,846 |
Geography shapes Underwriter pay in predictable and not-so-predictable ways. California tops the state leaderboard at $108,166 median, with 61 cities providing data. Massachusetts and Hawaii follow. On the flip side, Mississippi and Ohio anchor the bottom — reflecting lower local cost structures and smaller metro premiums.
When you adjust the top-paying cities for cost of living, the ranking reshuffles. Sunnyvale ($163,240 nominal, 212 cost index) delivers $77,000 in purchasing power — maintaining its lead even after cost adjustment. This is the metric that matters for anyone considering a geo-based career move.
Raw salary divided by the local cost index — this shows where your paycheck buys the most.
| # | City | Nominal Salary | Cost Index | Adjusted Salary | Est. Take-Home |
|---|---|---|---|---|---|
| 1 | Sunnyvale California | $163,240 | 212 | $77,000 | $96,821 |
| 2 | Santa Clara California | $152,460 | 198 | $77,000 | $90,887 |
| 3 | Irvine California | $141,680 | 184 | $77,000 | $84,952 |
| 4 | San Francisco California | $139,370 | 181 | $77,000 | $83,681 |
| 5 | Carlsbad California | $137,060 | 178 | $77,000 | $82,409 |
| 6 | San Jose California | $136,290 | 177 | $77,000 | $81,985 |
| 7 | Fremont California | $136,290 | 177 | $77,000 | $81,985 |
| 8 | Berkeley California | $133,210 | 173 | $77,000 | $80,290 |
| 9 | Costa Mesa California | $133,210 | 173 | $77,000 | $80,290 |
| 10 | Huntington Beach California | $130,130 | 169 | $77,000 | $78,594 |
The $62,734 gap between P10 and P90 represents the earning trajectory of a Underwriter career. Senior-level earners make 2.0× what entry-level professionals do — a solid progression that justifies the upfront investment. In the Finance & Strategy sector, declining, which shapes both starting salaries and long-term ceiling.
The weighted national median salary for Underwriters is $89,619 in 2026, based on BLS Occupational Employment and Wage Statistics across 288 U.S. metro areas. Entry-level (10th percentile) averages $64,526, while experienced professionals at the 90th percentile average $127,260.
The highest-paying city for Underwriters is Sunnyvale, California with a median salary of $163,240. The top 3 cities are Sunnyvale ($163,240), Santa Clara ($152,460), Irvine ($141,680). Note: high-paying cities often have higher costs of living — check the cost-adjusted rankings above for purchasing power.
The lowest median Underwriter salary in our data is in Toledo, Ohio at $63,910. However, lower-paying cities often have significantly lower costs of living, which can offset the pay gap. Always compare salary data alongside local cost of living.
Entry-level Underwriters (10th percentile) average $64,526 nationally. This varies by city — in the highest-paying markets, entry-level pay can be close to $117,533. Experience, certifications, and employer type all influence starting salary.
At the 90th percentile (senior level), Underwriters average $127,260 nationally — $62,734 more than entry-level. In top-paying cities, senior Underwriters can earn up to $231,801.
The top-paying states for Underwriters are California ($108,166 median), Massachusetts ($104,528 median), Hawaii ($103,950 median). State averages are computed across all tracked cities in each state, weighted equally.
The typical education path for a Underwriter involves Bachelor's degree. The field is in the Finance & Strategy sector (Business & Finance), and the career outlook is declining. Work style is typically office/remote.
With a national median of $89,619 and representation across 288 metro areas, Underwriter offers above-average earning potential compared to national household income. The $62,734 gap between entry and senior pay shows room for salary growth. Industry outlook: declining.
All salary data on this page is sourced from the Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) program, which surveys employers across U.S. metropolitan areas. We present 10th percentile (entry), 50th percentile (median), and 90th percentile (senior) pay benchmarks. Cost-of-living adjustments use our core database of 288 cities.
Salary data is sourced from the Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) program, which surveys employers across U.S. metropolitan and non-metropolitan areas. We present the 10th percentile (entry-level), 50th percentile (median), and 90th percentile (senior) pay benchmarks.
Cost-of-living adjustments use Livably's core index derived from Zillow rent data, Census income surveys, and regional BLS price data. Take-home pay estimates apply simplified federal brackets, 7.65% FICA, and state income tax rates from the Tax Foundation.
State and national averages are computed as simple means across all tracked cities with data for this occupation. Rankings are updated monthly as new BLS releases become available.