Entry-Level Underwriter Salary

Average Entry-Level Underwriters make around $52K per year. Including potential for bonuses, profit sharing and commission — peaking near $10K, $6K, and $13K, respectively — total cash payment to Entry-Level Underwriters can bottom out near $36K or top out at around $76K. The specific employer and the particular city each impact pay for this group, with the former having the largest influence. Men make up a slight majority of Entry-Level Underwriters (51 percent) who responded to the survey. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Work is enjoyable for Entry-Level Underwriters, who typically claim high levels of job satisfaction. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$38,177 - $73,642
$38K
$52K
$74K
MEDIAN: $51,721
10%
50%
90%

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$13.44 - $24.17
$13
$18
$24
MEDIAN: $18.41
10%
50%
90%

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$0$76K
Salary $38,177 - $73,642
Bonus $796 - $10,032
Profit Sharing $240.88 - $5,914
Commission $1,014 - $12,822
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).
)
$36,301 - $76,447
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 1,192
Hourly Data $0$43
Hourly Rate $13.44 - $24.17
Hourly Tips $2.00
Overtime $20.56 - $43.31
Annual Data $0$76K
Bonus $796 - $10,032
Commission $1,014 - $12,822
Profit Sharing $240.88 - $5,914
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).
)
$36,301 - $76,447
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 229

Find Out Exactly What You Should Be Paid

United States (change)

Employers: Start Here »

Underwriter Job Listings

Popular Employer Salaries for Underwriter


Known for taking on a considerable number of Entry-Level Underwriters, J.P. Morgan Chase & Co. (JPMCC), Aetna, Inc., The Travelers Companies, Inc., State Farm Insurance Company, and The Chubb Corporation are leading firms in the industry. Employees of Liberty Mutual Insurance Group can expect to make the most, with the company offering a median salary of $70K; however, pay is widely dispersed from bottom to top, ranging from $58K to $104K. Other leaders in compensation levels are The Hartford Financial Services Group, Inc. at $67K, Zurich North America at $65K, and The Travelers Companies, Inc., where Entry-Level Underwriters annually earn $65K.

With a median salary of $42K, State Farm Insurance Company provides Entry-Level Underwriters with the lowest pay in their field; moreover, earnings are capped at only $53K, limiting employee salary growth. A few other companies with smaller-than-average paychecks include Wells Fargo Bank ($50K), ACE Group ($51K), and J.P. Morgan Chase & Co. (JPMCC) ($51K).

Pay Difference by Location

National Average: $51,675

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

For those looking to make money, Entry-Level Underwriters in New York enjoy an exceptional pay rate, 32 percent above the national average. Entry-Level Underwriters will also find cushy salaries in San Francisco (+32 percent), Los Angeles (+28 percent), Boston (+24 percent), and Chicago (+21 percent). Falling short of the national average by 17 percent, the area with the worst salaries is Omaha. Employers also pay below the national average in Jacksonville (12 percent lower) and Columbus (11 percent lower).

Underwriter Advice

Q: What do you wish you knew about your job when you first started out?

Underwriter in Long Beach:
"Raises."
Go work elsewhere.

Underwriter in Poughkeepsie:
"Never a dull moment."
Multi tasking, flexibility, and long hours. If you love math, and reasoning, this job is for you.

Underwriter in Poughkeepsie:
"Extremely fast paced, high stress, must be able to multi tas."
You must be flexible and smart. Multi tasking is part of the job.

Key Stats for Underwriter

Gender

Female
49 %
Male
51 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 215 votes.
Less than 1 year
13%
1-4 years
72%
5-9 years
15%
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Location:
Years in Fields/Career:
United States (change)

Skills That Affect Underwriter Salaries

Financial Modeling
▲16%

Commercial Loans
▲12%

▲11%

▲6%

Mortgage Loans
▲6%

Underwriting
▲6%


▲2%


National Average
$52,000





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 215 votes.

Gender

Female
49 %
Male
51 %

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 79%
vision benefits
Vision: 71%
no benefits
None: 12%
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