Risk 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.
Risk Manager
Identify, assess, and mitigate financial and operational risks for organisations.
Insurance Underwriter
Evaluate insurance applications and set policy terms and premiums.
Risk 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.
Risk Manager vs Insurance Underwriter — Salary by City
National median figures in USD across top cities.
| City | Risk Manager | Insurance Underwriter | Difference |
|---|---|---|---|
| San Francisco, CA | $145,592 | $116,321 | Risk +$29,271 |
| New York, NY | $120,107 | $97,453 | Risk +$22,654 |
| Seattle, WA | $148,730 | $112,876 | Risk +$35,854 |
| Austin, TX | $113,068 | $91,022 | Risk +$22,046 |
| Chicago, IL | $113,339 | $86,961 | Risk +$26,378 |
| Boston, MA | $131,487 | $107,567 | Risk +$23,920 |
| London, UK | £78,848 | £63,807 | Risk +$15,041 |
| Toronto, Canada | CA$137,878 | CA$109,558 | Risk +$28,320 |
Frequently Asked Questions
Does a Risk Manager or Insurance Underwriter earn more?+
A Risk Manager earns more on average. The national median salary for a Risk 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 — Risk Manager or Insurance Underwriter?+
Risk Manager roles are growing at 16% YoY while Insurance Underwriter demand is growing at 5% YoY. Risk Manager has stronger near-term demand growth.
Can you switch from Risk Manager 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 — Risk Manager or Insurance Underwriter?+
Risk Manager has a lower AI automation risk (40% vs 82%). Based on Oxford Martin School and McKinsey 2023 analysis.