Insurance Underwriters vs Loan Officers: Salary Comparison (2024)
Side-by-side salary comparison using 2024 Bureau of Labor Statistics data.
Which Career Pays More?
Insurance Underwriters professionals earn $5,700 more per year than Loan Officers professionals — that's 7.7% higher. At the 90th percentile, Insurance Underwriters earns $138,020 compared to $145,780 for Loan Officers.
Salary Range Comparison
Insurance Underwriters$51,640 – $138,020
Loan Officers$38,490 – $145,780
$38,490$145,780
Detailed Salary Comparison
| Percentile | Insurance Underwriters | Loan Officers | Difference |
|---|---|---|---|
| 10th Percentile | $51,640 | $38,490 | +$13,150 |
| 25th Percentile | $63,070 | $50,460 | +$12,610 |
| Median (50th) | $79,880 | $74,180 | +$5,700 |
| 75th Percentile | $104,820 | $101,920 | +$2,900 |
| 90th Percentile | $138,020 | $145,780 | $-7,760 |
| Mean (Average) | $90,830 | $86,020 | +$4,810 |
Employment Numbers
Insurance Underwriters
107,820
employed nationwide
Loan Officers
290,530
employed nationwide
Top Paying Cities
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 |
Best Cities for Loan Officers
| City | Median |
|---|---|
| New York-Newark-Jersey City, NY-NJ-PA | $102,540 |
| Boston-Cambridge-Nashua, MA-NH | $94,850 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | $94,840 |
| San Francisco-Oakland-Berkeley, CA | $94,110 |
| Minneapolis-St. Paul-Bloomington, MN-WI | $91,900 |
Frequently Asked Questions
Who earns more: Insurance Underwriters or Loan Officers?
Insurance Underwriters professionals earn more, with a median salary difference of $5,700 (7.7% higher) as of 2024 BLS data.
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.
What is the salary range for Loan Officers?
Loan Officers salaries range from $38,490 (10th percentile) to $145,780 (90th percentile), with a median of $74,180.
How many Insurance Underwriters and Loan Officers jobs are there?
There are approximately 107,820 Insurance Underwriters positions and 290,530 Loan Officers positions nationwide according to 2024 BLS data.
Is it worth switching from Loan Officers to Insurance Underwriters?
Career decisions depend on many factors beyond salary. Insurance Underwriters has a median salary of $79,880 while Loan Officers earns $74,180. 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