Senior Underwriter Salary

Senior Underwriters in the United States tend to be well-versed in their field, and slightly less than two-thirds have more than 10 years of experience. Average salary is expected to be around $75K per year, but may range from $54K to $109K per year. In the world of Senior Underwriters, overall income ranges from $54K near the bottom to $109K at the top; this can include more than $15K from bonuses and more than $10K from profit sharing in exceptional cases. While the particular city and years of experience impact pay for this group, the specific employer is the most influential factor. The majority of Senior Underwriters claim high levels of job satisfaction. Women Senior Underwriters who took the survey just slightly outnumber men. Medical benefits are awarded to almost all, and a large number earn dental coverage. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
Read More
$53,374 - $99,148
(Median)
$53K
$75K
$99K
MEDIAN: $74,645
10%
50%
90%

Add this chart to your site: 640px    300px

$16.84 - $41.39
(Median)
$17
$30
$41
MEDIAN: $29.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$53,374 - $99,148  
   
Bonus
$510 - $15,409  
Profit Sharing
$875 - $10,303  
Commission
$7,800  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$53,883 - $109,315  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,725
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$25$50$75
Hourly Rate
$16.84 - $41.39  
   
Hourly Tips
$0.43  
Overtime
$27.34 - $62.28  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$510 - $15,409  
   
Commission
$7,800  
Profit Sharing
$875 - $10,303  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$53,883 - $109,315  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 95
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Job Description for Senior Underwriter

  • Structure products to meet clients' needs.
  • Evaluate collateral and ensure portfolio credit quality.
  • Assess eligibility of clients' applications to receive capital, insurance, mortgage, or credit.

Common Career Paths for Senior Underwriter


Add this chart to your site:   640px 640px    300px 300px


Senior Underwriters may progress into high-paying roles like VP of Underwriting, where median compensation is $129K annually. The most common career progression for Senior Underwriters leads to becoming a Manager of Underwriting, where average pay is $88K annually. However, many Senior Underwriters also opt to become Mortgage Loan Underwriters. Typically, a Mortgage Loan Underwriter brings home $55K.

Senior Underwriter Job Listings

Search for more jobs:

Popular Employer Salaries for Senior Underwriter


Many Senior Underwriters can be found at The Hartford Financial Services Group, Inc., ACE Group, Bank of America Corp. (BOFA), Liberty Mutual Insurance Group, and American International Group, Inc. (AIG), firms that are at the top of the field. The Hanover Insurance Company offers the highest compensation with a median salary of $107K. Senior Underwriters will also find cushy salaries at Zurich North America (+$100K), The Chubb Corporation (+$97K), and American International Group, Inc. (AIG) (+$91K).

Nationwide Mutual Insurance Company reports the lowest median salary in the area by far — it's only $64K, 67 percent lower than the top payer. Other low-paying employers include Bank of America Corp. (BOFA) at $74K and J.P. Morgan Chase & Co. (JPMCC) at $77K, though some Senior Underwriters there earn up to $135K.

Popular Skills for Senior Underwriter


Senior Underwriters report using a pretty varied skill set on the job. Most notably, facility with Sales, Underwriting, and Negotiation are correlated to pay that is significantly above average, leading to increases of 22 percent, 12 percent, and 7 percent, respectively. Most people familiar with Insurance also know Financial Analysis.

Pay by Experience Level for Senior Underwriter

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Senior Underwriters with a lot of experience do not necessarily enjoy more money. Workers in their first five years can expect to earn $70K, but people who have been around for five to 10 years earn a noticeably bigger sum of $78K. Senior Underwriters see a median salary of $78K after reaching one to two decades on the job. Veterans who have acquired more than 20 years report a median income of $80K, which is generally higher than the pay reported by other tenure groups.

Pay Difference by Location

National Average: $78,053

Larger city markers indicate a job is popular in that location.

Senior Underwriters will find that New York offers an impressive pay rate, one which exceeds the national average by 27 percent. Senior Underwriters will also find cushy salaries in San Francisco (+27 percent), Boston (+24 percent), Los Angeles (+16 percent), and Chicago (+11 percent). Those in the field find the lowest salaries in Tampa, 10 percent below the national average.

Senior Underwriter Reviews

What is it like working as a Senior Underwriter at The Travelers Companies, Inc.?

Senior Underwriter in New York:
"I am able to provide a valuable service to my customers,"
Pros: Providing high level service to the customer.
Cons: The time it takes to provide that service, even with the new technology.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Senior Underwriter Salaries




National Average
$78,000


Skills That Affect Senior Underwriter Salaries

Sales
up arrow 22%

Underwriting
up arrow 12%


Insurance
up arrow 3%

Financial Analysis
up arrow 3%

Customer Relationship Management (CRM)
up arrow 3%

Data Analysis
up arrow 3%

Risk Management / Risk Control
0%

National Average
$78,000

Loan Underwriting
up arrow 1%

Mortgage Loans
up arrow 1%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 347 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

Less than 1 year
0%
1-4 years
7%
5-9 years
29%
10-19 years
37%
20 years or more
26%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 86%
medical benefits
Vision: 71%
dental benefits
None: 6%
ADVERTISEMENT