Entry-Level Underwriter Salary

The average Entry-Level Underwriter can expect to rake in roughly $49K per year. Total cash earnings of Entry-Level Underwriters range from $35K on the low end to $72K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $10K and $6K, respectively. The company and the particular city each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and most collect dental insurance. Job satisfaction for Entry-Level Underwriters is high. Women are just slightly outnumbered, with male Entry-Level Underwriters making up 57 percent of survey respondents. The data in this summary comes from the PayScale salary survey.

$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


J.P. Morgan Chase & Co. (JPMCC), The Travelers Companies, Inc., State Farm Insurance Company, Bank of America Corp. (BOFA), and ACE Group are leaders in the field that employ a large number of Entry-Level Underwriters. 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. Other employers shelling out big bucks include The Chubb Corporation, Liberty Mutual Insurance Group, and The PNC Financial Services Group, Inc., where Entry-Level Underwriters typically earn around $66K, $65K, or $63K, respectively.

Not only do salaries lack room to grow — pay ranges from $35K to just $51K — but State Farm Insurance Company offers the lowest pay in town to boot, with a median paycheck of $41K. Aetna, Inc., Quicken Loans, and Cigna Corporation also rank near the bottom for pay, handing out $46K, $46K, and $49K-paychecks on average.

Pay Difference by Location

National Average: $49,527

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

San Francisco offers some of the highest pay in the country for Entry-Level Underwriters, 35 percent above the national average. Entry-Level Underwriters will also find cushy salaries in Boston (+30 percent), New York (+21 percent), Los Angeles (+21 percent), and Seattle (+20 percent). The smallest paychecks in the market, 1 percent south of the national average, can be found in Denver.

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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Comp Managers: Start Here »

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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