Entry-Level Underwriter Salary
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.
Insurance Underwriter Job Listings
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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
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).