Insurance Underwriter vs Financial Planner (CFP): Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Insurance Underwriter
Evaluate insurance applications and set policy terms and premiums.
Financial Planner (CFP)
Provide holistic financial planning for individuals and families across all life stages.
Financial Planner (CFP) earns more on average — the national median is $2,024/year (2%) higher than a Insurance Underwriter. However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Insurance Underwriter vs Financial Planner (CFP) — Salary by City
National median figures in USD across top cities.
| City | Insurance Underwriter | Financial Planner (CFP) | Difference |
|---|---|---|---|
| San Francisco, CA | $116,321 | $122,237 | Insurance $5,916 |
| New York, NY | $97,453 | $102,449 | Insurance $4,996 |
| Seattle, WA | $112,876 | $119,967 | Insurance $7,091 |
| Austin, TX | $91,022 | $93,002 | Insurance $1,980 |
| Chicago, IL | $86,961 | $88,809 | Insurance $1,848 |
| Boston, MA | $107,567 | $108,411 | Insurance $844 |
| London, UK | £63,807 | £65,795 | Insurance $1,988 |
| Toronto, Canada | CA$109,558 | CA$110,012 | Insurance $454 |
Frequently Asked Questions
Does a Insurance Underwriter or Financial Planner (CFP) earn more?+
A Financial Planner (CFP) earns more on average. The national median salary for a Insurance Underwriter is $81,370/year, compared to $83,394/year for a Financial Planner (CFP) — a difference of $2,024 (2%).
Which has better career growth — Insurance Underwriter or Financial Planner (CFP)?+
Insurance Underwriter roles are growing at 5% YoY while Financial Planner (CFP) demand is growing at 15% YoY. Financial Planner (CFP) has stronger near-term demand growth.
Can you switch from Insurance Underwriter to Financial Planner (CFP)?+
Yes. Many professionals transition between these roles, especially since both are in the same category. Shared skills include: analytical thinking, communication, and industry knowledge.
Which is harder to automate — Insurance Underwriter or Financial Planner (CFP)?+
Financial Planner (CFP) has a lower AI automation risk (28% vs 82%). Based on Oxford Martin School and McKinsey 2023 analysis.