Financial Analyst vs Insurance Underwriter: Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Financial Analyst
Analyse financial data and prepare reports to support investment and business decisions.
Insurance Underwriter
Evaluate insurance applications and set policy terms and premiums.
Financial Analyst earns more on average — the national median is $21,370/year (26%) higher than a Insurance Underwriter. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Financial Analyst vs Insurance Underwriter — Salary by City
National median figures in USD across top cities.
| City | Financial Analyst | Insurance Underwriter | Difference |
|---|---|---|---|
| San Francisco, CA | $146,829 | $116,321 | Financial +$30,508 |
| New York, NY | $122,253 | $97,453 | Financial +$24,800 |
| Seattle, WA | $143,125 | $112,876 | Financial +$30,249 |
| Austin, TX | $111,407 | $91,022 | Financial +$20,385 |
| Chicago, IL | $110,355 | $86,961 | Financial +$23,394 |
| Boston, MA | $135,080 | $107,567 | Financial +$27,513 |
| London, UK | £82,870 | £63,807 | Financial +$19,063 |
| Toronto, Canada | CA$111,014 | CA$109,558 | Financial +$1,456 |
Frequently Asked Questions
Does a Financial Analyst or Insurance Underwriter earn more?+
A Financial Analyst earns more on average. The national median salary for a Financial Analyst is $102,740/year, compared to $81,370/year for a Insurance Underwriter — a difference of $21,370 (26%).
Which has better career growth — Financial Analyst or Insurance Underwriter?+
Financial Analyst roles are growing at 9% YoY while Insurance Underwriter demand is growing at 5% YoY. Financial Analyst has stronger near-term demand growth.
Can you switch from Financial Analyst to Insurance Underwriter?+
Yes. Many professionals transition between these roles, especially since both are in the same category. Shared skills include: Excel.
Which is harder to automate — Financial Analyst or Insurance Underwriter?+
Financial Analyst has a lower AI automation risk (65% vs 82%). Based on Oxford Martin School and McKinsey 2023 analysis.