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Entry-Level Underwriter Salary

Average Entry-Level Underwriters make around $49K per year. Overall incomes of Entry-Level Underwriters — including $10K bonuses, $6K profit sharing proceeds, and $15K commissions on the more lucrative end — generally ranges between $34K and $69K. The specific employer and the particular city each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to almost all, and a large number earn dental coverage. Women are just slightly outnumbered, with male Entry-Level Underwriters making up 56 percent of survey respondents. The majority of workers are highly satisfied with their job. The numbers in this rundown were provided by PayScale's salary survey participants.

$35,147 - $66,166
(Median)
$35K
$49K
$66K
MEDIAN: $48,831
10%
50%
90%

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$12.17 - $24.57
(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
$35,147 - $66,166  
   
Bonus
$0.00 - $9,805  
Profit Sharing
$242.40 - $6,211  
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).
)
$34,096 - $69,473  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 1,613
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
$12.17 - $24.57  
   
Overtime
$17.27 - $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 - $9,805  
   
Commission
$0.00 - $14,795  
Profit Sharing
$242.40 - $6,211  
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).
)
$34,096 - $69,473  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 234

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Popular Employer Salaries for Entry-Level Underwriter


J.P. Morgan Chase & Co. (JPMCC), Bank of America Corp. (BOFA), American International Group, Inc. (AIG), State Farm Insurance Company, and Zurich North America are leaders in the field that employ a large number of Entry-Level Underwriters. Employees at The Chubb Corporation enjoy the biggest paychecks, and $66K is the median salary. Range in pay, on the other hand, is narrow, with lower figures hovering around $52K and higher ones not far away at only $85K. Liberty Mutual Insurance Group, The PNC Financial Services Group, Inc., and American International Group, Inc. (AIG) also offer top salaries for Entry-Level Underwriters. Workers at these firms can expect to earn about $64K, $63K, and $62K, respectively.

Relative to other names in the field, compensation is very low at State Farm Insurance Company — the median salary comes to just $38K, 75 percent lower than the top payer. Others at the bottom of the scale for this job include Aetna, Inc. at $46K, Quicken Loans at $46K, and Cigna Corporation, where $48K is the norm.

Pay Difference by Location


For Entry-Level Underwriters, San Francisco provides a pay rate that is 34 percent greater than the national average. Entry-Level Underwriters will also find cushy salaries in Boston (+26 percent), Seattle (+22 percent), Chicago (+20 percent), and Los Angeles (+19 percent).

United States (change)

Skills That Affect Entry-Level Underwriter Salaries

Mortgage Loans
up arrow 13%


Negotiation
up arrow 9%

Sales
up arrow 8%


Insurance
up arrow 2%

Data Analysis
up arrow 1%

Microsoft Excel
up arrow 1%

Loan Underwriting
0%

National Average
$49,000

Customer Service
up arrow 5%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 365 votes.

Gender

Female
44 %
Male
56 %

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 83%
vision benefits Vision: 70% employee benefits None: 7%
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