Portfolio Manager vs Insurance Underwriter: Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Portfolio Manager
Manage investment portfolios to maximise returns for clients.
Insurance Underwriter
Evaluate insurance applications and set policy terms and premiums.
Portfolio Manager 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.
Portfolio Manager vs Insurance Underwriter — Salary by City
National median figures in USD across top cities.
| City | Portfolio Manager | Insurance Underwriter | Difference |
|---|---|---|---|
| San Francisco, CA | $151,713 | $116,321 | Portfolio +$35,392 |
| New York, NY | $123,694 | $97,453 | Portfolio +$26,241 |
| Seattle, WA | $146,467 | $112,876 | Portfolio +$33,591 |
| Austin, TX | $113,384 | $91,022 | Portfolio +$22,362 |
| Chicago, IL | $109,474 | $86,961 | Portfolio +$22,513 |
| Boston, MA | $136,585 | $107,567 | Portfolio +$29,018 |
| London, UK | £78,248 | £63,807 | Portfolio +$14,441 |
| Toronto, Canada | CA$138,044 | CA$109,558 | Portfolio +$28,486 |
Frequently Asked Questions
Does a Portfolio Manager or Insurance Underwriter earn more?+
A Portfolio Manager earns more on average. The national median salary for a Portfolio Manager is $102,740/year, compared to $81,370/year for a Insurance Underwriter — a difference of $21,370 (26%).
Which has better career growth — Portfolio Manager or Insurance Underwriter?+
Portfolio Manager roles are growing at 12% YoY while Insurance Underwriter demand is growing at 5% YoY. Portfolio Manager has stronger near-term demand growth.
Can you switch from Portfolio Manager to Insurance Underwriter?+
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 — Portfolio Manager or Insurance Underwriter?+
Portfolio Manager has a lower AI automation risk (42% vs 82%). Based on Oxford Martin School and McKinsey 2023 analysis.