Insurance Underwriter Salary in Buffalo, NY
How much does a insurance underwriter make in Buffalo? Explore median, entry-level, and senior salaries adjusted for Buffalo's cost of living.
Salary Breakdown by Experience Level
See how insurance underwriter salaries break down across different pay periods in Buffalo.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $51,558 | $85,930 | $116,006 |
| Monthly | $4,297 | $7,161 | $9,667 |
| Biweekly | $1,983 | $3,305 | $4,462 |
| Weekly | $992 | $1,653 | $2,231 |
| Hourly | $25 | $41 | $56 |
Buffalo vs National Average
How Buffalo's insurance underwriter salaries compare to national figures.
Cost of Living in Buffalo
About Insurance Underwriter
Overview
Evaluate insurance applications and determine coverage and premiums.
Education
Bachelor's degree in Insurance or related field
Key Skills
Growth Rate
Expected job growth: +14% over the next decade
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Insurance Underwriter Salary in Buffalo, NY — Complete Guide
Median Salary Overview
The median salary for a insurance underwriter in Buffalo, NY is $85,930 per year, adjusted for the local cost of living index of 102. This figure reflects typical earnings for experienced professionals in this role, considering Buffalo's unique economic conditions.
Salary Range and Experience Levels
Entry-level insurance underwriter professionals in Buffalo can expect to earn around $51,558 annually. As professionals gain experience, salaries typically increase, with senior-level insurance underwriters earning approximately $116,006 per year. This represents a 125% increase from entry to senior level.
Cost of Living Adjustment
Buffalo's cost of living index of 102 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Buffalo are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $87,870, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a insurance underwriter's salary in Buffalo typically goes toward housing. With a 1-bedroom apartment averaging $1,400 per month, housing represents about 19.6% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Insurance Underwriters are in growing demand across the United States, with an expected job growth of 14% over the next decade. In Buffalo, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.