Insurance Underwriter Salary
in Toronto
2026 · Official labour data · 5 comparison cities
Last updated: August 2026 · Source: BLS OES Survey · 1.1M employer sample
Typical range: $59,082 – $109,838
How much does a Insurance Underwriter make in Toronto, Canada?
A Insurance Underwriter in Toronto earns a median of $80,557/year (about $39/hour). Most earn between $59,082 (25th percentile) and $109,838 (75th percentile); top earners (90th percentile) make $145,283 or more — 1% below the US average. Figures are from BLS employer payroll data, not self-reports.
Understanding these Insurance Underwriter salary numbers
We report percentiles, not a single average, because pay isn't evenly spread — a handful of very high earners would drag an average upward and mislead you. Here's exactly what each figure means.
Median (P50) — $80,557
Half of Insurance Underwriters in Toronto earn more than this and half earn less. It's the most honest "typical" salary — better than an average, which gets skewed by a few top earners.
25th percentile (P25) — $59,082
The lower end of the typical range: 75% of Insurance Underwriters earn more than this. It's common for early-career roles or lower-cost employers. Earning below it is grounds to negotiate.
75th percentile (P75) — $109,838
Your negotiation target: only 25% of Insurance Underwriters earn above it. Reaching P75 usually means seniority, in-demand specialisations, or simply negotiating from data. See how to negotiate.
90th percentile (P90) — $145,283
Top earners: only 10% of Insurance Underwriters make this or more — typically senior, highly specialised, or at the best-paying employers.
Gross vs after-tax pay
These figures are gross (before tax). What actually reaches your account depends on your country, state, and deductions. Estimate your net with the take-home calculator.
National vs Toronto pay
City figures apply the local market premium to BLS data, so Toronto differs from the US average by -1%. A higher number isn't always better once cost of living is counted.
Hourly rate — $39/hr
The hourly figure is the annual median divided by 2,080 (40 hours × 52 weeks). If you regularly work more than 40 hours, your real hourly rate is lower than this. Convert any salary with the salary calculator.
Why this differs from Glassdoor or Payscale
Those sites publish what people say they earn (self-reports), which skew high because higher earners report more often. Our figures come from mandatory employer payroll records (BLS OEWS), so they reflect the whole market — not just a vocal subset.
How current and reliable is this number?
This page carries a confidence score of 81/100, based on the data source and coverage. US figures track the latest BLS release and refresh automatically; international figures use OECD/ILO data. See the changelog for live data freshness.
What counts as a "good" Insurance Underwriter salary in Toronto?
Around the median ($80,557) is solid and $109,838+ is strong — but "good" really depends on local costs. Check what the number is actually worth with the good-salary breakdown for Toronto.
Still curious how we get these numbers? Every figure is traceable to a primary source — see the full methodology and data sources.
Insurance Underwriter salary in Toronto, Canada: median $80,557 (P75 $109,838), per BLS OEWS via Official Salary, 2026.
Free JSON: /api/salary?job=insurance-underwriter&city=toronto — no key. API & widgets →
Key insights for Insurance Underwriters in Toronto
- ›Cost of living in Toronto runs about 25% above the US average, so $81K is worth roughly $64K at national prices.
- ›Pay climbs with seniority: a senior/staff Insurance Underwriter reaches about $131K — a +62% step from mid-level.
Insurance Underwriters in Toronto typically earn $59K–$110K a year.
The market median is $81K — half earn above, half earn below.
Top earners (top 10%) make $145K or more.
Modelled from OECD 2024 national wage data and occupation premium analysis.
Insurance Underwriter Salary Analysis — Toronto
Insurance Underwriters in Toronto earn a median salary of $81K, which is 1% below the national median of $81K. Toronto's established technology sector sustains above-average demand for this role, supporting premium compensation.
Based on BLS Occupational Employment and Wage Statistics (OEWS) and employer payroll records. Figures represent the median (P50) across all experience levels in Toronto.
Cost of Living Adjustment
Toronto's cost of living is 25% above the US average. Your $81K salary has the equivalent purchasing power of approximately $64K in a city with average US living costs.
Salary Distribution — Toronto
5-band distribution from employer payroll records
New graduates, 0–1 yr exp
1–3 years experience
3–7 years, typical professional
Senior / high-performer — target
Staff / principal / lead
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Official Salary Fair Pay Score™
Is $81K a good salary for Insurance Underwriter in Toronto?
Based on BLS data for 80,557 comparable professionals in this role
You're earning above the median — in the top half of this role's salary range.
Why This Salary?
How we arrived at $81K for Insurance Underwriters in Toronto
Source: OECD 2024. All figures reflect 2026 market conditions.
Insurance Underwriter Salary by Experience Level in Toronto
How compensation grows from entry-level through staff / lead
| Experience Level | Years | Percentile | Annual Salary | Monthly | Hourly |
|---|---|---|---|---|---|
| Entry | 0 | 0 yrs | $49,945 | $4,162 | $24 |
| Junior | 2 | 2 yrs | $64,446 | $5,371 | $31 |
| Mid-LevelTypical | 4 | 4 yrs | $75,187 | $6,266 | $36 |
| Senior | 6 | 6 yrs | $90,546 | $7,546 | $44 |
| Staff | 10 | 10 yrs | $130,502 | $10,875 | $63 |
| Principal | 14 | 14 yrs | $177,548 | $14,796 | $85 |
| Distinguished | 18 | 18 yrs | $189,309 | $15,776 | $91 |
Based on BLS OEWS percentile distribution. Actual salary depends on employer, skills, and negotiation.
Skills That Earn More — Insurance Underwriter
Estimated premium above the Toronto median based on market demand
Estimates based on job-posting salary premiums for verified high-demand skills.
Insurance Underwriter Intelligence Report
Career metrics and full compensation breakdown — from BLS demand data
Career Opportunity Score
Composite: demand growth × 1.4 + (100 − AI risk) × 0.4
Total Compensation — Insurance Underwriter
Beyond base salary: bonus, equity, and benefits
Bonus, equity, and benefits are modelled estimates from category norms (not scraped from any single employer); base is BLS. Actual total comp varies by employer, level, and negotiation.
Typical Benefits for Insurance Underwriters
— show
Often adds 20–35% to your effective pay
Compare Insurance Underwriter Salaries by City
How Toronto, Canada stacks up against other major markets
| City | Median | P75 | vs US avg |
|---|---|---|---|
| Toronto, Canada (current) | $80,557 | $109,838+ | -1% |
| London, UK | $80,768 | $110,126+ | -1% |
| Berlin, Germany | $77,174 | $105,225+ | -5% |
| Sydney, Australia | $88,568 | $120,761+ | +9% |
| Amsterdam, Netherlands | $91,129 | $124,253+ | +12% |
| Singapore, Singapore | $90,103 | $122,854+ | +11% |
Official Salary Career GPS™
What should I do next as a Insurance Underwriter?
Higher-paying roles in the same field
Frequently Asked Questions
What is the average Insurance Underwriter salary in Toronto, Canada?
The median Insurance Underwriter salary in Toronto, Canada is $81K per year (2026), based on BLS OEWS employer payroll data from 1.1 million employers. The top 25% earn $110K+ per year.
What is a good Insurance Underwriter salary in Toronto, Canada?
The 75th percentile ($110K/yr) is the professional benchmark — what the top quarter already earns. It's a documented, negotiable target backed by BLS payroll data. Anything above the median ($81K) is above-average for this role in Toronto, Canada.
How much does a Insurance Underwriter earn per hour in Toronto, Canada?
Based on the median annual salary of $81K, a Insurance Underwriter in Toronto, Canada earns approximately $39/hr (2,080-hour work year). The P75 rate is ~$53/hr.
Is Toronto, Canada a good market for Insurance Underwriters?
Toronto, Canada pays 1% below the US national average for this role. Demand for Insurance Underwriters is growing 5% annually, and AI automation risk is rated high for this occupation.
How do I negotiate a higher Insurance Underwriter salary in Toronto, Canada?
Cite the BLS P75 figure ($110K) — it is verifiable public data from government payroll records. Request the full compensation package: base + equity/bonus + benefits. Timing matters: negotiate at the offer stage, not after acceptance. Counter with a specific number, not a range.
What is the entry-level Insurance Underwriter salary in Toronto, Canada?
Entry-level Insurance Underwriters in Toronto, Canada (10th–25th percentile) earn roughly $45K–$59K per year, rising toward the $81K median with experience and in-demand skills.
What does a senior Insurance Underwriter earn in Toronto, Canada?
Senior Insurance Underwriters in Toronto, Canada — the top quartile up to the 90th percentile — earn about $110K–$145K per year, with the top 10% making $145K+.
How Is This Salary Calculated?
Every number is derived from a transparent, reproducible methodology — no estimates, no black boxes.
Where does the salary data come from?
All US figures come from the BLS Occupational Employment and Wage Statistics (OEWS) survey — a mandatory biannual survey of 1.1 million US employers who report actual payroll data.
How is the Toronto, Canada figure calculated?
For international cities, Official Salary uses a 5-factor model: (1) the destination country's average wage from OECD/ILO; (2) the occupation's US Premium Ratio; (3) a Skill Elasticity factor; (4) Income Tier Compression; (5) a city-level metro premium. Currency conversion uses ECB rates refreshed every 4 hours.
What do P10, P25, P50, P75, and P90 mean?
These are salary percentiles from employer payroll records. P50 (median) means 50% of workers earn less. P75 means 75% earn less — this is the recommended negotiation anchor. P10 and P90 represent the bottom 10% and top 10% respectively.
How is take-home pay estimated?
Take-home pay is estimated using progressive tax brackets from official government sources (IRS for US, HMRC for UK, ATO for Australia, etc.). Social contributions (National Insurance, FICA, etc.) are added. These are estimates — actual take-home depends on deductions, filing status, and location.
How often is data updated?
US BLS salary data refreshes every 24 hours via the BLS public API. OECD international wages refresh monthly. ECB currency rates refresh every 4 hours.
Full formulas and source citations on the methodology page.
What a Insurance Underwriter salary really means in Toronto
Take-home pay, rent affordability, and remote benchmarking — on the $80,557 median.
Estimated take-home
≈ $5,098/month net
- Gross median
- $80,557
- Income tax
- −$14,381
- Social / FICA
- −$4,995
- Effective rate
- 24%
Federal + Ontario provincial income tax + CPP/EI. Single-filer estimate — not tax advice.
Rent affordability
of take-home on a typical 1-bed (~$929/mo)
The 30% rule says housing should stay under 30% of take-home. Here it's comfortably within that line. After all living costs (~$2,212/mo), roughly $2,886/mo is left to save or invest.
Cost-of-living data for Toronto; rent ≈ 42% of budget.
Remote vs onsite
typical fully-remote benchmark range
Onsite Insurance Underwriters in Toronto earn the local median of $80,557. Fully-remote roles are usually benchmarked between the US median ($81,370) and the local rate — employers increasingly set remote pay by national or regional bands, not your city.
Compare all Insurance Underwriter markets →How to reach the top 25% as a Insurance Underwriter in Toronto
The gap between a typical Insurance Underwriter and the top quartile in Toronto is $29,281/year — about $2,440/month more than the median. Reaching the 75th percentile ($109,838) usually comes down to seniority, in-demand specialisations, and negotiating from real data instead of hoping for a raise.
Insurance Underwriter Salary Trend (2019–2024)
BLS OES historical national medians
Source: BLS OEWS 2019–2024. City-level data uses national trend × metro premium.
Education Premium — Insurance Underwriter
How degree level affects salary · ACS Census data
Source: US Census Bureau ACS PUMS · BLS OES wage data.
Negotiation Deep-Dive
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Insurance Underwriter in Other Cities
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Data Source & Attribution
Salary data sourced from the U.S. Bureau of Labor Statistics OEWS survey (1.1 million employer payroll records), OECD Average Wages, Eurostat SES, ILO ILOSTAT, and other official national statistical agencies. Data is updated via ISR and reflects the most recent release cycle.