Evaluate insurance applications and determine coverage terms and premiums. Median salary in Memphis: $70K/year. Data from BLS, O*NET, and H-1B disclosures.
Figures represent annual base salary in Memphis, Tennessee. Reviewed by SalaryOptics Editorial · How we calculate this →
Analysis derived from the salary, COL, tax, and labor-market figures above — specific to this role and city.
Insurance Underwriters in Memphis earn approximately 10% lower than the US national median for this role — a $8,000 discount on annual base salary. Memphis's lower wage level partially reflects the area's cost-of-living index of 82 (US avg = 100).
Adjusted for Memphis's cost-of-living index (82), the median Insurance Underwriter salary buys the equivalent of $85,366 in a US-average-cost city. That's $7,366 more purchasing power than the national median — a meaningful real-wage advantage.
Tennessee has no state income tax, which is worth roughly $6,510 per year at this salary level compared to a California Insurance Underwriter on the same gross pay. A Memphis Insurance Underwriter would need to earn $77,178 in California to net the same take-home.
Based on BLS 2022–2032 Employment Projections and WEF Future of Jobs Report 2026. At current growth rates, median salary reaches $70K by 2030.
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The median Insurance Underwriter salary in Memphis, TN is $70,000 per year as of Q1 2026. This figure represents the midpoint of all reported compensation for this role in the Memphis–TN metropolitan area, based on data from the Bureau of Labor Statistics Occupational Employment Statistics, H-1B visa disclosures from the Department of Labor, and O*NET occupational data.
Entry-level Insurance Underwriters in Memphis with 0–2 years of experience typically earn between $52,000 and $70,000 annually. Mid-career professionals with 3–7 years command $70,000 to $92,000, while senior-level practitioners with 8+ years of experience regularly earn $92,000 to $119,000 or more.
Memphis has a cost of living index of 82 compared to the US national average of 100. This means your salary goes approximately 18% further in Memphis than the national average. Crucially, Tennessee has no state income tax — giving Memphis-based Insurance Underwriters an immediate 3–5% take-home pay advantage over workers in states like California (9.3%) or New York (6.85%).
Bachelor's in Finance or Business; CPCU designation. 50% of these roles offer some remote flexibility.