Financial Risk Specialists vs Insurance Underwriters: Salary Comparison (2024)
Side-by-side salary comparison using 2024 Bureau of Labor Statistics data.
Which Career Pays More?
Financial Risk Specialists professionals earn $26,120 more per year than Insurance Underwriters professionals — that's 32.7% higher. At the 90th percentile, Financial Risk Specialists earns $182,310 compared to $138,020 for Insurance Underwriters.
Salary Range Comparison
Financial Risk Specialists$62,270 – $182,310
Insurance Underwriters$51,640 – $138,020
$51,640$182,310
Detailed Salary Comparison
| Percentile | Financial Risk Specialists | Insurance Underwriters | Difference |
|---|---|---|---|
| 10th Percentile | $62,270 | $51,640 | +$10,630 |
| 25th Percentile | $80,280 | $63,070 | +$17,210 |
| Median (50th) | $106,000 | $79,880 | +$26,120 |
| 75th Percentile | $145,020 | $104,820 | +$40,200 |
| 90th Percentile | $182,310 | $138,020 | +$44,290 |
| Mean (Average) | $119,930 | $90,830 | +$29,100 |
Employment Numbers
Financial Risk Specialists
56,320
employed nationwide
Insurance Underwriters
107,820
employed nationwide
Top Paying Cities
Best Cities for Financial Risk Specialists
| City | Median |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $141,960 |
| San Francisco-Oakland-Berkeley, CA | $140,050 |
| San Jose-Sunnyvale-Santa Clara, CA | $137,420 |
| Charlotte-Concord-Gastonia, NC-SC | $130,750 |
| Seattle-Tacoma-Bellevue, WA | $128,440 |
Best Cities for Insurance Underwriters
| City | Median |
|---|---|
| Denver-Aurora-Lakewood, CO | $106,380 |
| Boston-Cambridge-Nashua, MA-NH | $103,270 |
| Chicago-Naperville-Elgin, IL-IN-WI | $98,860 |
| Seattle-Tacoma-Bellevue, WA | $98,500 |
| Hartford-East Hartford-Middletown, CT | $98,400 |
Frequently Asked Questions
Who earns more: Financial Risk Specialists or Insurance Underwriters?
Financial Risk Specialists professionals earn more, with a median salary difference of $26,120 (32.7% higher) as of 2024 BLS data.
What is the salary range for Financial Risk Specialists?
Financial Risk Specialists salaries range from $62,270 (10th percentile) to $182,310 (90th percentile), with a median of $106,000.
What is the salary range for Insurance Underwriters?
Insurance Underwriters salaries range from $51,640 (10th percentile) to $138,020 (90th percentile), with a median of $79,880.
How many Financial Risk Specialists and Insurance Underwriters jobs are there?
There are approximately 56,320 Financial Risk Specialists positions and 107,820 Insurance Underwriters positions nationwide according to 2024 BLS data.
Is it worth switching from Insurance Underwriters to Financial Risk Specialists?
Career decisions depend on many factors beyond salary. Financial Risk Specialists has a median salary of $106,000 while Insurance Underwriters earns $79,880. Consider job satisfaction, growth prospects, required education, and work-life balance.
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Data verified March 2026 · Source: U.S. Bureau of Labor Statistics OEWS