Entry-Level Underwriter Salary

Entry-Level Underwriters pull down an average of $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, $7K from profit sharing, causing incomes to vary widely between $34K and $70K. The particular firm is the biggest factor affecting pay for this group, followed by geography. Most Entry-Level Underwriters like their work and job satisfaction is high. Medical benefits are awarded to nearly all, and most earn dental coverage. Men make up a slight majority of Entry-Level Underwriters (56 percent) who responded to the survey. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$35,268 - $66,632
(Median)
$35K
$49K
$67K
MEDIAN: $48,998
10%
50%
90%

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$12.36 - $24.52
(Median)
$12
$17
$25
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Salary
$35,268 - $66,632  
   
Bonus
$0.00 - $9,762  
Profit Sharing
$202.73 - $6,544  
Commission
$0.00 - $14,795  
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).
)
$34,239 - $70,060  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 1,619
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$15$30$45
Hourly Rate
$12.36 - $24.52  
   
Overtime
$16.88 - $42.22  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30K$60K$90K
Bonus
$0.00 - $9,762  
   
Commission
$0.00 - $14,795  
Profit Sharing
$202.73 - $6,544  
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).
)
$34,239 - $70,060  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 238
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Popular Employer Salaries for Entry-Level Underwriter


Many Entry-Level Underwriters can be found at J.P. Morgan Chase & Co. (JPMCC), The Travelers Companies, Inc., Bank of America Corp. (BOFA), American International Group, Inc. (AIG), and State Farm Insurance Company, firms that are at the top of the field. Although the highest salaries can be found at The Chubb Corporation where median pay is $67K, there is little variation in compensation; paychecks are spread only between $53K and $87K. Those in search of high salaries should also consider Liberty Mutual Insurance Group, The Travelers Companies, Inc., and The PNC Financial Services Group, Inc., top-paying firms where Entry-Level Underwriters rake in a $64K, $63K, or $63K, respectively.

State Farm Insurance Company offers the lowest pay in the industry by far, with a median salary 78 percent less than the top paying company ($38K). Quicken Loans, Aetna, Inc., and Cigna Corporation also rank near the bottom for pay, handing out $46K, $46K, and $49K-paychecks on average.

Pay Difference by Location


Surpassing the national average by 33 percent, Entry-Level Underwriters in San Francisco receive some of the highest pay in the country. Entry-Level Underwriters can also look forward to large paychecks in cities like Boston (+28 percent), Seattle (+21 percent), Los Angeles (+20 percent), and New York (+20 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 Entry-Level Underwriter Salaries

Mortgage Loans
up arrow 12%


Negotiation
up arrow 8%

Sales
up arrow 7%

Risk Management / Risk Control
up arrow 4%

Insurance
up arrow 1%

Data Analysis
up arrow 1%

Microsoft Excel
0%

National Average
$49,000

Loan Underwriting
up arrow 1%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 342 votes.

Gender

Female
44 %
Male
56 %

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 84%
vision benefits Vision: 70% employee benefits None: 7%
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