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Entry-Level Underwriter Salary

Entry-Level Underwriters take home approximately $48K per year on average. In the world of Entry-Level Underwriters, total cash compensation can vary between $34K and $68K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $10K and $6K, respectively. The specific employer and the particular city each impact pay for this group, with the former having the largest influence. Women are just slightly outnumbered, with male Entry-Level Underwriters making up 55 percent of survey respondents. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Job satisfaction for Entry-Level Underwriters is high. The figures in this rundown are based on the results of PayScale's salary questionnaire.
$34,970 - $65,320
(Median)
35K
40K
48K
57K
65K
MEDIAN: $48,268
10%
25%
50%
75%
90%

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$11.81 - $24.45
(Median)
12
15
17
21
24
MEDIAN: $17.00
10%
25%
50%
75%
90%

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Show Annual Salary Show Hourly Rate

National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$23K$46K$69K
Salary
$34,970 - $65,320  
   
Bonus
$0.00 - $9,643  
Profit Sharing
$459.58 - $5,872  
Commission
$0.00 - $14,899  
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).
)
$33,748 - $68,459  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 1,634
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$14$28$42
Hourly Rate
$11.81 - $24.45  
   
Overtime
$17.46 - $41.73  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$28K$56K$84K
Bonus
$0.00 - $9,643  
   
Commission
$0.00 - $14,899  
Profit Sharing
$459.58 - $5,872  
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).
)
$33,748 - $68,459  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 232
United States (change)

Insurance Underwriter Job Listings

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Popular Employer Salaries for Entry-Level Underwriter


J.P. Morgan Chase & Co. (JPMCC), Bank of America Corp. (BOFA), American International Group, Inc. (AIG), State Farm Insurance Company, and Zurich North America are among the top companies that take on many Entry-Level Underwriters. Pay for Entry-Level Underwriters is best at The Chubb Corporation, which offers a median salary of $63K. However, the highest reported salaries don't seem to be much higher than the lowest ones; the pay range here runs from $51K to $86K. Entry-Level Underwriters can also look forward to large paychecks at American International Group, Inc. (AIG) ($61K), The PNC Financial Services Group, Inc. ($61K), and ACE Group ($60K).

Salaries are easily beat at State Farm Insurance Company, where median pay comes to just $40K, the lowest in the field. What's more, with base pay starting at $35K and ending at $50K, range in salary is rather small. Workers at Quicken Loans, Cigna Corporation, and Wells Fargo Bank also face smaller salaries than the rest of the field — average earnings for these employers come to $45K, $47K, and $50K respectively.

Pay Difference by Location


For Entry-Level Underwriters, working in the bustling city of San Francisco has its advantages, including an above-average pay rate. Entry-Level Underwriters will also find cushy salaries in Boston (+25 percent), San Diego (+24 percent), Seattle (+21 percent), and New York (+20 percent).

Skills That Affect Entry-Level Underwriter Salaries

Mortgage Loans
up arrow 13%


Negotiation
up arrow 8%

Sales
up arrow 8%


Insurance
up arrow 2%

Data Analysis
up arrow 2%

Microsoft Excel
up arrow 1%

Loan Underwriting
0%

National Average
$48,000

Customer Service
up arrow 7%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 422 votes.

Gender

Female
45 %
Male
55 %

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 83%
vision benefits Vision: 68% employee benefits None: 7%