Entry-Level Underwriter Salary

Entry-Level Underwriters take home an average $49K annually. In the world of Entry-Level Underwriters, overall cash allowance can occasionally include more than $10K from bonuses and, in some exceptional cases, $6K from profit sharing, causing incomes to vary widely between $35K and $72K. The particular firm is the biggest factor affecting pay for this group, followed by geography. Male Entry-Level Underwriters are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. Medical benefits are awarded to most, and a large number earn dental coverage. Most Entry-Level Underwriters like their work and job satisfaction is high. Participants in PayScale's salary questionnaire provided the particulars of this report.

$35,903 - $68,698
(Median)
$36K
$49K
$69K
MEDIAN: $49,490
10%
50%
90%

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$12.38 - $23.94
(Median)
$12
$17
$24
MEDIAN: $17.00
10%
50%
90%

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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$24K$48K$72K
Salary
$35,903 - $68,698  
   
Bonus
$0.00 - $9,781  
Profit Sharing
$197.97 - $5,847  
Commission
$5,000  
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).
)
$34,622 - $71,646  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 1,724
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$14$28$42
Hourly Rate
$12.38 - $23.94  
   
Hourly Tips
$2.00  
Overtime
$16.56 - $41.92  
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$28K$56K$84K
Bonus
$0.00 - $9,781  
   
Commission
$5,000  
Profit Sharing
$197.97 - $5,847  
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).
)
$34,622 - $71,646  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 253
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Popular Employer Salaries for Underwriter


Entry-Level Underwriters fill the offices of leading firms J.P. Morgan Chase & Co. (JPMCC), The Travelers Companies, Inc., State Farm Insurance Company, Bank of America Corp. (BOFA), and ACE Group. The Travelers Companies, Inc. offers the largest salaries in town ($67K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $48K to $88K. Also paying near the top of the field are The Chubb Corporation at $66K, Liberty Mutual Insurance Group at $65K, and The PNC Financial Services Group, Inc., where Entry-Level Underwriters annually earn $63K.

Entry-Level Underwriters will find the worst pay at State Farm Insurance Company, where the median salary crawls in at $41K. Furthermore, compensation is curbed at $51K, leaving little room for growth. Workers at Aetna, Inc., Quicken Loans, and Cigna Corporation also face smaller salaries than the rest of the field — average earnings for these employers come to $46K, $46K, and $49K respectively.

Pay Difference by Location

National Average: $49,527

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

For Entry-Level Underwriters, San Francisco provides a pay rate that is 35 percent greater than the national average. Entry-Level Underwriters can also look forward to large paychecks in cities like Boston (+30 percent), New York (+21 percent), Los Angeles (+21 percent), and Seattle (+20 percent). Denver is home to the smallest salaries in the field, lagging the national average by 1 percent.

Underwriter Advice

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

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

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Skills That Affect Underwriter Salaries

Mortgage Loans
up arrow 11%

Underwriting
up arrow 10%


Negotiation
up arrow 8%

Sales
up arrow 8%

Risk Management / Risk Control
up arrow 4%

Insurance
up arrow 2%

Data Analysis
0%

National Average
$50,000

Loan Underwriting
up arrow 2%

Microsoft Excel
up arrow 2%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 326 votes.

Gender

Female
43 %
Male
57 %

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 83%
medical benefits
Vision: 71%
dental benefits
None: 8%
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