Entry-Level Underwriter Salary

An average Entry-Level Underwriter can expect to take home roughly $51K per year. With some bonuses approaching $10K and certain profit sharing proceeds approaching $6K, overall incomes of Entry-Level Underwriters spread between $35K and $76K depending on individual performance. The specific employer and the particular city each impact pay for this group, with the former having the largest influence. Work is enjoyable for Entry-Level Underwriters, who typically claim high levels of job satisfaction. 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 53 percent of survey respondents. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.

$37,926 - $72,763
$38K
$51K
$73K
MEDIAN: $51,331
10%
50%
90%

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$12.93 - $23.29
$13
$18
$23
MEDIAN: $18.01
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$26K$52K$78K
Salary
$37,926 - $72,763  
   
Bonus
$715 - $10,019  
Profit Sharing
$246.58 - $6,161  
Commission
$1,014 - $12,822  
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).
)
$35,371 - $75,827  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 1,131
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$15$30$45
Hourly Rate
$12.93 - $23.29  
   
Hourly Tips
$2.00  
Overtime
$20.33 - $42.08  
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$30K$60K$90K
Bonus
$715 - $10,019  
   
Commission
$1,014 - $12,822  
Profit Sharing
$246.58 - $6,161  
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).
)
$35,371 - $75,827  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 215

Find Out Exactly What You Should Be Paid

United States (change)

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Insurance Underwriter Job Listings

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Popular Employer Salaries for Underwriter


J.P. Morgan Chase & Co. (JPMCC), Aetna, Inc., The Travelers Companies, Inc., State Farm Insurance Company, and The Chubb Corporation are all popular places to work. Entry-Level Underwriters flock to Liberty Mutual Insurance Group for generous paychecks, where average earnings of $70K lead the pack in compensation; however, Liberty Mutual Insurance Group also provides employees with a wide spectrum of compensation ranging from $58K at one end to $104K at the other end. Those in search of high salaries should also consider The Hartford Financial Services Group, Inc., Zurich North America, and The Travelers Companies, Inc., top-paying firms where Entry-Level Underwriters rake in a comfortable $67K, $65K, or $65K, respectively.

State Farm Insurance Company doles out the lowest salaries in town — median pay is $42K — not to mention workers can only make as much as $53K and scope of pay is rather limited. Employees at Wells Fargo Bank, ACE Group, and J.P. Morgan Chase & Co. (JPMCC) can also expect below-average earnings of $50K, $51K, and $51K.

Pay Difference by Location

National Average: $51,162

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

For Entry-Level Underwriters, New York provides a pay rate that is 34 percent greater than the national average. Entry-Level Underwriters will also find cushy salaries in San Francisco (+33 percent), Los Angeles (+29 percent), Boston (+25 percent), and Chicago (+22 percent). Those in the field find the lowest salaries in Omaha, 16 percent below the national average. Employers also pay below the national average in Jacksonville (11 percent lower) and Columbus (10 percent lower).

Underwriter Advice

Q: 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.

Key Stats for Underwriter

Gender

Female
47 %
Male
53 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 186 votes.
Less than 1 year
13%
1-4 years
73%
5-9 years
14%
Location:
Years in Fields/Career:
United States (change)

Skills That Affect Underwriter Salaries

Financial Modeling
▲17%

Commercial Loans
▲13%

▲12%

▲7%

Mortgage Loans
▲7%

Underwriting
▲7%


▲3%


National Average
$51,000





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 186 votes.

Gender

Female
47 %
Male
53 %

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 80%
vision benefits
Vision: 71%
no benefits
None: 10%