According to data from the US Bureau of Labor Statistics, the average yearly pay for Insurance Underwriters is $79,940, compared to the average annual salary of $86,490 for Real Estate Brokers. This indicates that the salaries for these two occupations are similar.
However, it's important to keep in mind that the amount of pay an employee receives can be influenced by factors like location, experience, and the specific setting in which they work. In particular, Insurance Underwriters working in Washington DC (with a salary of $110,120 on average) may earn more than those in West Virginia ($47,730).
Insurance Underwriters vs Real Estate Brokers overview
Insurance Underwriters and Real Estate Brokers are two important roles in the Credit Intermediation industry. There is a common interest in understanding the differences between these job titles, as well as the average salaries for each.
Insurance Underwriter job description
Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
Insurance Underwriter education and experience
Most Insurance Underwriters (70%) have completed a Bachelor's Degree. But this field also includes some employees who have a High School Diploma (10%) and an Associate's Degree (10%). In terms of experience, 40% of Insurance Underwriter occupations require no previous experience. A smaller number of roles (27%) require a previous experience of 2 to 4 years.
Insurance Underwriter average salary
The US Bureau of Labor Statistics has reported that in 2021, there were 107,690 Insurance Underwriters working in the United States, and on average, they earned $79,940 per year. The bottom 10 percent had earnings of $47,330 or less, and the top 10 percent had earnings of $126,380 or more. The average salary has decreased by 0.6% in comparison to the previous year.
Do Insurance Underwriters make good money?
The mean salary of Insurance Underwriters is 37% above the average wage in the United States ($58,260). However, they make 4% more than the mean earnings of the Insurance Carriers industry ($76,810).
The mean salary of Insurance Underwriters is 37% above the average wage in the United States ($58,260).
Insurance Underwriters job growth
There has been a growth in the number of Insurance Underwriters being hired over the last two years. In 2021, there have been 5,900 more positions than the previous year across the nation, and that marks a rise of 5.8%. The average job growth rate for the past 3 years has been 3.9%.
Real Estate Broker job description
Real Estate Brokers operate real estate office, or work for commercial real estate firm, overseeing real estate transactions. Other duties usually include selling real estate or renting properties and arranging loans.
Real Estate Broker education and experience
37% of Real Estate Brokers have obtained a Bachelor's Degree, 24% hold a College Course Certificate, and 12% have a High School Diploma. When it comes to experience, 28% of Real Estate Broker occupations do not require any previous experience. A smaller portion of roles (24%) require a previous experience of 2 to 4 years.
Real Estate Broker average salary
Based on data from the US Bureau of Labor Statistics, 48,460 Real Estate Brokers were employed by the United States in 2021, and their average annual wage was $86,490. The lowest earning 10 percent made $30,470 or less, and the highest earning 10 percent made $176,080 or more per year. Compared to the previous year, the mean salary has increased by 6%.
Do Real Estate Brokers make good money?
Real Estate Brokers typically make good salaries, since their mean salary is about a half above the average pay in the United States ($58,260). Furthermore, they make about a half more than the mean salary of the Real Estate industry ($55,880).
Real Estate Brokers typically make good salaries, since their mean salary is about a half above the average pay in the United States ($58,260).
Real Estate Brokers job growth
There has been an increase in the employment of Real Estate Brokers in the last two years. In 2021, there have been 3,850 more job opportunities than the previous year across the nation, and that shows an increase of 8.6%. Job growth has averaged 6.3% over the past 3 years.
FAQ
Do Insurance Underwriters or Real Estate Brokers make more?
These two professions have salaries that are similar. The average annual pay for Insurance Underwriters is $79,940, compared to $86,490 for Real Estate Brokers.