Browse Categories

Underwriting Assistant Salary

Underwriting Assistants in the United States are not likely to strike it rich; they only make around $40K per year on average. In the world of Underwriting Assistants, overall income ranges from $29K near the bottom to $55K at the top; this can include more than $4K from bonuses and more than $5K from profit sharing in exceptional cases. Residence is the main element affecting pay for this group — the company and tenure are driving factors as well. The majority of workers are highly satisfied with their job. A large number report receiving medical coverage from their employers and most collect dental insurance. Men are in the minority of survey respondents, with female Underwriting Assistants making up 78 percent.
$29,662 - $54,735
(Median)
$30K
$40K
$55K
MEDIAN: $40,357
10%
50%
90%

Add this chart to your site: 640px    300px

$12.74 - $22.19
(Median)
$13
$17
$22
MEDIAN: $16.00
10%
50%
90%

Add this chart to your site: 640px    300px

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$19K$38K$57K
Salary
$29,662 - $54,735  
   
Bonus
$0.00 - $3,905  
Profit Sharing
$304.10 - $5,007  
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).
)
$29,220 - $54,668  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 594
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$13$26$39
Hourly Rate
$12.74 - $22.19  
   
Overtime
$17.54 - $38.40  
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$26K$52K$78K
Bonus
$0.00 - $3,905  
   
Profit Sharing
$304.10 - $5,007  
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).
)
$29,220 - $54,668  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 195
United States (change)

Job Description for Underwriting Assistant

The assistant underwriter assists the lead underwriter in assessing customers' eligibility for products such as mortgages, insurance, and credit. They may work in a variety of fields, such as bank underwriting, insurance underwriting, and real estate underwriting. In all fields, assistant underwriters must cultivate good relationships with clients and be able to obtain client information quickly and accurately. They must be able to accurately assess risks while remaining within their organization's regulations and relevant laws. Assistant underwriters typically work as a subordinate to an underwriter and work in an office environment during regular business hours, although travel may occasionally be required for risk assessment.

Read More...

Underwriting Assistant Tasks

  • Prepare and distribute correspondence and documentation to facilitate underwriting.
  • Collect documentation and files and deliver information to appropriate parties.
  • Communicate and coordinate with all involved parties to complete underwriting process.
  • Obtain, process, and evaluate screening materials for underwriting process.

Common Career Paths for Underwriting Assistant


Add this chart to your site:   640px 640px    300px 300px


Underwriting Assistants sometimes assume positions such as Senior Underwriters. That role pays $71K per year on average. The most common next step for an Underwriting Assistant is to become an Underwriter or an Insurance Underwriter. The former position pays an additional $10K per year on average, and the latter position pays $8K more per year.

Assistant Underwriter Job Listings

Search for more jobs:

Popular Employer Salaries for Underwriting Assistant


Although ACE Group offers the highest salaries (median pay is $49K), survey participants reported a rather limited pay range of $35K to $60K.

State Farm Insurance Company doles out the lowest salaries in town — median pay is $30K — not to mention workers can only make as much as $43K and scope of pay is rather limited.

Popular Skills for Underwriting Assistant


Underwriting Assistants who responded to the survey indicated only a few skills that they use on the job. Most notably, skills in Oral / Verbal Communication, Insurance, Customer Service, and Data Analysis are correlated to pay that is above average. Skills that seem to negatively impact pay include Data Analysis. Insurance is a skill commonly found among those who know Customer Service.

Pay by Experience Level for Underwriting Assistant

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Underwriting Assistants do not generally earn higher incomes from more experience in the field. Relatively untried employees who have less than five years' experience make $36K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $41K. After working for 10 to 20 years, Underwriting Assistants make a median salary of $44K. In the end, more experience does seem to mean larger paychecks; seasoned Underwriting Assistants with more than 20 years of experience earn a predictably higher median salary of $49K.

Pay Difference by Location


Home to some of the best pay for Underwriting Assistants, New York offers exceptional salaries, 31 percent above the national average. Underwriting Assistants will also find cushy salaries in San Francisco (+26 percent), Los Angeles (+24 percent), Boston (+20 percent), and San Diego (+14 percent). Austin is the lowest-paying area, 17 percent south of the national average.

Underwriting Assistant Reviews

What is it like working as an Underwriting Assistant?

Underwriting Assistant in Atlanta:
"Underwriter."
Pros: The process of making a sound decision and helping the Relationship Managers.
Cons: I really love my job, the pay is a little low for the job title.

Related Job Salaries

Experience Affects Underwriting Assistant Salaries

Late-Career
up arrow 25%

Experienced
up arrow 11%


National Average
$40,000


Skills That Affect Underwriting Assistant Salaries

Oral / Verbal Communication
up arrow 7%

Insurance
up arrow 4%

Customer Service
up arrow 1%

National Average
$40,000

Data Analysis
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 179 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
9%
1-4 years
40%
5-9 years
23%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 81%
vision benefits Vision: 66% employee benefits None: 9%