Median pay for Entry-Level Underwriters is around $51K per year. With bonuses occasionally running north of $10K, profit sharing proceeds sometimes surpassing $7K, and a few commissions as high as $13K, total income for Entry-Level Underwriters can range between $35K and $74K according to individual performance. The particular firm and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction is high and work is enjoyable for most Entry-Level Underwriters. Medical benefits are awarded to a large number, and most earn dental coverage. Women are just slightly outnumbered, with male Entry-Level Underwriters making up 54 percent of survey respondents. The data in this summary comes from the PayScale salary survey.

$37,734 - $71,692
(Median)
$38K
$51K
$72K
MEDIAN: $50,705
10%
50%
90%

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$12.64 - $23.51
(Median)
$13
$18
$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$25K$50K$75K
Salary
$37,734 - $71,692  
   
Bonus
$802 - $10,048  
Profit Sharing
$252.83 - $6,550  
Commission
$1,021 - $12,723  
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).
)
$35,386 - $74,428  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 1,118
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
$12.64 - $23.51  
   
Hourly Tips
$2.00  
Overtime
$19.83 - $41.54  
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
$802 - $10,048  
   
Commission
$1,021 - $12,723  
Profit Sharing
$252.83 - $6,550  
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).
)
$35,386 - $74,428  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 196
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Popular Employer Salaries for Underwriter


J.P. Morgan Chase & Co. (JPMCC), The Travelers Companies, Inc., State Farm Insurance Company, The Chubb Corporation, and Aetna, Inc. are all popular places to work. Although salaries only range from $54K to just $91K, The Chubb Corporation still offers the highest pay with a median paycheck of $69K. Entry-Level Underwriters will also find cushy salaries at The Travelers Companies, Inc. (+$69K), The Hartford Financial Services Group, Inc. (+$67K), and Liberty Mutual Insurance Group (+$65K).

Pay for Entry-Level Underwriters is the lowest at State Farm Insurance Company, which has a median salary of $42K. In addition, there's little room to grow there, with salaries maxing out at $52K. Other low-paying employers include Quicken Loans at $46K and Wells Fargo Bank at $50K, though some Entry-Level Underwriters there earn up to $77K.

Pay Difference by Location

National Average: $50,596

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

With a pay rate for Entry-Level Underwriters that is 38 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Entry-Level Underwriters will also find cushy salaries in Los Angeles (+29 percent), New York (+29 percent), Boston (+28 percent), and Walnut Creek (+24 percent). The lowest-paying market is Omaha, which sits 16 percent below the national average. Employers also pay below the national average in Jacksonville (10 percent lower) and Houston (2 percent lower).

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

Commercial Loans
up arrow 15%

Mortgage Loans
up arrow 10%

up arrow 9%

Underwriting
up arrow 8%

Negotiation
up arrow 7%


Insurance
up arrow 4%

Risk Management / Risk Control
up arrow 3%

National Average
$51,000

Data Analysis
up arrow 1%

Microsoft Excel
up arrow 1%

Loan Underwriting
up arrow 3%

Customer Service
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 179 votes.

Gender

Female
46 %
Male
54 %

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 82%
medical benefits
Vision: 72%
dental benefits
None: 10%
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