Insurance Underwriter Salary in Memphis, TN: 2026
Insurance Underwriter salary data for Memphis, TN, adjusted for local cost of living. Entry-level to senior pay ranges, take-home pay calculator, and local job market insights.
The estimated median Insurance Underwriter salary in Memphis, TN is $69,978 per year ($5,832/month, $34/hr). This modeled estimate scales Salario's national benchmark (calibrated to the BLS OEWS May 2025 national median) by the local cost of living index of 86, which is 14% below the national average.
All four figures are Salario estimates (national benchmark scaled by Memphis's cost-of-living index); BLS does not publish a metro median for this title here.
Insurance Underwriter Take-Home Pay in Memphis
Tax Breakdown (Median Salary)
| Gross Annual | $69,978 |
| Federal Tax | -$6,565 |
| State Tax (0.0% eff.) | -$0 |
| FICA (SS + Medicare) | -$5,353 |
| Annual Take-Home | $58,060 |
| Monthly Take-Home | $4,838 |
Living Cost Comparison
Insurance Underwriter Requirements
Key Skills
Memphis Job Market Overview
Memphis, Tennessee has a population of 633,104 and an unemployment rate of 4.2%. The top industries are Logistics, Healthcare, Manufacturing. The local job growth rate is 1.0%, and the average commute time is 24minutes. These local figures come from Salario's city dataset; verify current values with BLS Local Area Unemployment Statistics and Census QuickFacts.
Related Finance Salaries in Memphis
Insurance Underwriter Salary in Nearby Tennessee Cities
Salary Percentile Breakdown: Insurance Underwriter in Memphis
Based on Salario's cost-of-living-adjusted salary tiers for Insurance Underwriter in Memphis, TN, here is an estimated percentile breakdown:
| Percentile | Annual Salary | Hourly Equivalent | Career Stage |
|---|---|---|---|
| 10th (lowest) | $47,644 | $23/hr | Entry-level, < 1 yr exp. |
| 25th | $58,811 | $28/hr | Junior, 1-3 yrs exp. |
| 50th (median) | $69,978 | $34/hr | Mid-career, 2-4 years |
| 75th | $97,352 | $47/hr | Senior, 5-10 yrs exp. |
| 90th (top) | $119,712 | $58/hr | Lead/Principal, 10+ yrs |
Percentiles are approximations, not measured local percentiles: P10, P50, P75, and P90 map to Salario's entry, median, senior, and top salary tiers scaled by the local cost-of-living index, and P25 is interpolated halfway between entry and median. Top earners (P90) typically include managers, specialists with rare skills, or those at high-paying employers in Memphis's Logistics sector.
5-Year Salary Trajectory
Salario's national dataset models approximately 13.0% salary growth for Insurance Underwriters over the past 5 years. That national assumption is applied to the Memphis estimate below; it is not a measured local trend, and it should be compared with cumulative CPI inflation before treating it as a real-terms gain:
Year-over-year, an average Insurance Underwriter can expect a 12.6% annual increase moving from entry to senior level over 6 years in Memphis. Negotiation, certifications (CPCU, ARM), and changing employers strategically can accelerate this trajectory.
Memphis vs National Average
The national median Insurance Underwriter salary is $81,370 (BLS OEWS May 2025, Insurance Underwriters). In Memphis, the cost-of-living-adjusted median of $69,978 is 14.0% below the national figure. This reflects Memphis's cost of living index of 86 (lower than the national average of 100).
For Insurance Underwriters, this means: rent typically consumes 20.7% of take-home pay (households spending >30% are considered affordable), and a median home in Memphis costs about 2.9× annual take-home. Homeownership is relatively attainable on this salary in Memphis.
Industry Context: Logistics in Memphis
Memphis's economy is anchored by Logistics, Healthcare, Manufacturing, with 633,104 residents and an unemployment rate of 4.2% in Salario's city dataset. Pay for Insurance Underwriters can differ by sector, so compare Logistics employers with other local employers. The local job growth rate in Salario's city dataset is 1.0%, and Salario's job dataset lists a 2.0% growth outlook for Insurance Underwriter roles; check the BLS Occupational Outlook Handbook for the official 2024-2034 projection for the closest matching occupation.
Methodology & Data Sources
How we calculate Insurance Underwriter salaries in Memphis, TN:
- Base salary model starts with Salario occupation data and public wage references, including BLS OEWS and O*NET when a direct or related occupational crosswalk is available (the national median is calibrated to the BLS OEWS May 2025 median for Insurance Underwriters). For niche titles, we do not treat a broader SOC family as an exact job-title wage.
- Cost-of-living adjustment applied using the Memphis index of 86 relative to the national baseline of 100, with local rent, home price, unemployment, and tax inputs stored separately in Salario's city dataset.
- Percentile distribution (P10-P90) estimated from the entry, median, senior, and top compensation tiers in the Salario salary model rather than claimed as exact employer payroll data.
- Take-home pay calculated using 2026 federal tax brackets (10%-37%), TN 2026 state income tax brackets after the standard deduction (top rate 0.0%), and FICA (Social Security 6.2% + Medicare 1.45%).
- Tax brackets and standard deduction ($16,100 single filer for tax year 2026) sourced from IRS Revenue Procedure 2025-32 and updated annually.
Authoritative data sources:
- BLS Occupational Employment and Wage Statistics, national and metro-area salary data
- O*NET OnLine, occupation tasks, alternate job titles, skills, and SOC crosswalks
- BLS Occupational Outlook Handbook, occupation outlook where a matching profile is available
- BLS Consumer Price Index (CPI-U), regional inflation data (CPI measures price changes, not city-to-city price levels)
- U.S. Census Bureau, Memphis QuickFacts, population and demographic data
- IRS Revenue Procedure 2025-32 summary, 2026 federal tax brackets and standard deductions
- BLS Local Area Unemployment Statistics, official local unemployment rates to verify the Memphis figure above
Last reviewed: 2026. Salario's salary dataset is refreshed periodically, not automatically; check the linked BLS releases for the latest official data. Insurance Underwriter salaries can vary significantly based on employer, sector (Logistics vs others in Memphis), specific skill set (Risk Assessment, Policy Analysis, Actuarial Tables), and individual negotiation. Always verify current compensation through multiple sources before making career decisions.
Frequently Asked Questions
What is the average Insurance Underwriter salary in Memphis, TN?
How much does a Insurance Underwriter take home in Memphis after taxes?
Is Memphis a good city for Insurance Underwriters?
What skills are needed for a Insurance Underwriter in Memphis?
How does Insurance Underwriter salary in Memphis compare to the national average?
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Frequently Asked Questions
What is the average Insurance Underwriter salary in Memphis, TN?
Salario estimates the median Insurance Underwriter salary in Memphis, TN at $69,978 per year for 2026. This is a modeled figure: Salario's national Insurance Underwriter benchmark scaled by the local cost of living index of 86, not a measured local wage survey. The modeled entry-level estimate is around $47,644, and the senior estimate is $97,352 or more.
How much does a Insurance Underwriter take home in Memphis after taxes?
A Insurance Underwriter earning the median salary of $69,978 in Memphis, TN takes home approximately $58,060 per year ($4,838/month) after federal, state, and local taxes. The effective tax rate is 17.0%.
Is Memphis a good city for Insurance Underwriters?
Memphis, TN has a cost of living index of 86 (below national average). Insurance Underwriters here earn above the city median. The local unemployment rate is 4.2% and top industries include Logistics, Healthcare, Manufacturing.
What skills are needed for a Insurance Underwriter in Memphis?
Key skills for Insurance Underwriters include Risk Assessment, Policy Analysis, Actuarial Tables, Regulatory Compliance, Decision Making. Typical education requirement is Bachelor's Degree. Valuable certifications include CPCU, ARM, AU.
How does Insurance Underwriter salary in Memphis compare to the national average?
Salario's national median benchmark for Insurance Underwriter is $81,370 (calibrated to the BLS OEWS May 2025 national median). In Memphis, the cost-of-living-adjusted estimate is $69,978, which is 14.0% lower than the national average, reflecting the local cost of living.