Entry-Level Underwriter Salary

Earnings for Entry-Level Underwriters come in at around $51K per year on average. In the world of Entry-Level Underwriters, overall income ranges from $35K near the bottom to $76K at the top; this can include more than $10K from bonuses and more than $6K from profit sharing in exceptional cases. The particular firm and the particular city each impact pay for this group, with the former having the largest influence. Men working as Entry-Level Underwriters who took the survey just slightly outnumber women at 53 percent. A large number report receiving medical coverage from their employers and most collect dental insurance. Most Entry-Level Underwriters like their work and job satisfaction is high. This report is based on answers to PayScale's salary questionnaire.

$37,844 - $72,648
$38K
$51K
$73K
MEDIAN: $51,174
10%
50%
90%

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$12.73 - $23.69
$13
$18
$24
MEDIAN: $17.96
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
$37,844 - $72,648  
   
Bonus
$772 - $10,100  
Profit Sharing
$242.40 - $6,233  
Commission
$1,021 - $12,723  
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).
)
$35,411 - $75,765  
Country: United States | Currency: USD | Updated: 19 Jan 2017 | Individuals Reporting: 1,156
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
$12.73 - $23.69  
   
Hourly Tips
$2.00  
Overtime
$20.29 - $42.39  
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
$772 - $10,100  
   
Commission
$1,021 - $12,723  
Profit Sharing
$242.40 - $6,233  
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).
)
$35,411 - $75,765  
Country: United States | Currency: USD | Updated: 19 Jan 2017 | Individuals Reporting: 214

Find Out Exactly What You Should Be Paid

United States (change)

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Popular Employer Salaries for Underwriter


Entry-Level Underwriters flock to J.P. Morgan Chase & Co. (JPMCC), Aetna, Inc., The Travelers Companies, Inc., State Farm Insurance Company, and The Chubb Corporation, highly regarded companies that employ a generous number of people in this profession. Although the highest salaries can be found at The Chubb Corporation where median pay is $69K, there is little variation in compensation; paychecks are spread only between $54K and $91K. Other leaders in compensation levels are The Travelers Companies, Inc. at $68K, Liberty Mutual Insurance Group at $66K, and Zurich North America, where Entry-Level Underwriters annually earn $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. Wells Fargo Bank, Cigna Corporation, and ACE Group also scrape the bottom of the pay scale, with median earnings hovering around $50K, $51K, and $51K.

Pay Difference by Location

National Average: $51,062

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

For those looking to make money, Entry-Level Underwriters in San Francisco enjoy an exceptional pay rate, 39 percent above the national average. Entry-Level Underwriters will also find cushy salaries in New York (+33 percent), Los Angeles (+28 percent), Boston (+28 percent), and Chicago (+20 percent). The lowest-paying market is Omaha, which sits 14 percent below the national average. Below-median salaries also turn up in Jacksonville and Charlotte (11 percent lower and 5 percent lower, respectively).

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 190 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

Commercial Loans
▲14%

▲12%

Mortgage Loans
▲8%

Negotiation
▲7%

Underwriting
▲7%


▲4%


National Average
$51,000





Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 190 votes.

Gender

Female
47 %
Male
53 %

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 81%
vision benefits
Vision: 72%
dental benefits
None: 10%
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