Hiring an insurance underwriter in Colorado Springs, CO

Do Colorado Springs residents in business and financial operations work earn more than employers in the Colorado Springs, CO area pay?

Colorado Springs residents working in business and financial operations occupations earn a median of $69,699 (Census ACS 5-year 2023, tables S2401 and B24011), against $84,990 as the median of the 25 wages BLS publishes for that same occupation group in the Colorado Springs, CO area (BLS OEWS, May 2025), a difference of 18%, with the employers figure the higher of the two.

Both sides of that figure describe the whole business and financial operations group, not this one role. In the Colorado Springs, CO area the group covers 25 occupations BLS publishes a wage for, from credit counselors at $55,140 to financial risk specialists at $126,500 (BLS OEWS, May 2025), with insurance underwriters at $93,960 inside it.

That comparison is between two different measures, not a pay gap. The two weight the same occupation group differently: the Census figure is the midpoint across the people who actually hold those jobs, so a group carrying a few very well paid occupations is pulled toward them, while the BLS figure is the midpoint across the 25 published occupation wages, which counts each of those occupations once whatever its headcount. Census also counts where people live and BLS counts where the jobs are, and the two cover different populations, Census the civilian employed population 16 and over, BLS wage-and-salary jobs only. Read the number against other cities, where the same definitional difference applies on both sides, rather than as a shortfall.

Published wages across this group in the metro run above what Colorado Springs residents in it earn, which usually means employers here draw this talent from beyond the city line rather than from inside it.

Is the talent actually in Colorado Springs?

This is a job zone four: considerable preparation needed occupation. Most of these occupations require a four-year bachelor's degree, but some do not. O*NET OnLine, SOC 13-2053.

That matters here, because 41.9% of Colorado Springs adults hold a bachelor's degree or higher. That is a workable pool, but the search will reach beyond the city line. Census ACS 5-year 2023, table S1501, residents of Colorado Springs aged 25 and over.

The average Colorado Springs commute runs 22.8 minutes, which is roughly how far your catchment reaches before candidates start saying no. 16.1% of Colorado Springs workers already work from home, so a fully onsite requirement here is competing against that. Census ACS 5-year 2023, place-level commuting characteristics for Colorado Springs.

How often do these jobs turn over?

In El Paso County, accounting, tax preparation, bookkeeping and payroll services employs 1,595 and turns over 14.7% a quarter, with 354 hires against 162 separations. Average earnings in that industry run $5,765 a month. Census LEHD Quarterly Workforce Indicators, 2024 Q1, NAICS 5412.

That figure covers every occupation in the industry, not this role alone, so read it as the local churn rate rather than as a number about insurance underwriters. It still tells you what you are hiring into: a high-churn market, where speed matters more than a perfect fit.

What does the search cost?

The fee is set by the seniority of the role, never by salary and never by location. Across all six tiers it runs $6,240 to $54,340 per search. A contingency firm hiring at this role's $93,960 median in the Colorado Springs, CO area (BLS OEWS, May 2025) would bill roughly $18,792 to $28,188 on the first year salary alone.

One owner runs the search from market map to signed offer. Searches typically fill in 23 to 35 days, which is a typical window rather than a promise, and the replacement guarantee runs 45 days at 50% off.

Questions employers ask about hiring an insurance underwriter in Colorado Springs

What does it cost to hire an insurance underwriter in Colorado Springs?

Tier I to Tier VI, $6,240 to $54,340 per search, set by the seniority of the role and never by salary or location. A contingency firm billing 20 to 30% of this role's $93,960 median wage in the Colorado Springs, CO area (BLS OEWS, May 2025) would charge roughly $18,792 to $28,188 on the first year salary alone.

What should an offer for an insurance underwriter in Colorado Springs look like?

Employers in the Colorado Springs, CO area pay insurance underwriters a median of $93,960, with the middle half of the market between $70,730 and $120,930 (BLS OEWS, May 2025). A band set below $70,730 competes for the bottom quarter of that market.

Do Colorado Springs residents in business and financial operations work earn more than employers in the Colorado Springs, CO area pay?

Colorado Springs residents working in business and financial operations occupations earn a median of $69,699 (Census ACS 5-year 2023, tables S2401 and B24011), against $84,990 as the median of the 25 wages BLS publishes for that same occupation group in the Colorado Springs, CO area (BLS OEWS, May 2025), a difference of 18%. Both figures cover the whole occupation group rather than this one role, and one counts where people live while the other counts where the jobs are, so the percentage is not a pay gap.

Is the talent for this role already in Colorado Springs?

This is a job zone 4 occupation, which usually calls for a bachelor's degree, and 41.9% of Colorado Springs adults hold one or higher (Census ACS 5-year 2023, table S1501). That is a workable pool, though the search will reach beyond the city line.

Related

• Hiring Insurance Underwriters: the role, the pay, the process
• Recruiting services in Colorado Springs
• Every Colorado city we cover

Colorado Springs is the 2nd largest of 3 Colorado cities in this dataset.