Underwriting Assistant Salary

Those pursuing careers as Underwriting Assistants in the United States may have to make do with less; average incomes for people in this area hover around only $41K annually. Cash earnings for Underwriting Assistants — including $4K in bonuses and $5K in profit sharing proceeds near the top of the pay scale — generally stretch from $29K to $56K depending on individual performance. The most influential factor affecting pay for this group is the specific employer, though geography and years of experience have a (lesser) impact as well. Most report receiving medical coverage from their employers and a large number collect dental insurance. Job satisfaction for Underwriting Assistants is high. Female Underwriting Assistants make up most of the survey respondents at 78 percent. This overview is based on answers to PayScale's salary questionnaire.

$29,519 - $55,837
(Median)
$30K
$41K
$56K
MEDIAN: $40,558
10%
50%
90%

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$13.06 - $23.67
(Median)
$13
$17
$24
MEDIAN: $17.00
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$19K$38K$57K
Salary
$29,519 - $55,837  
   
Bonus
$0.00 - $3,893  
Profit Sharing
$295.90 - $4,912  
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).
)
$29,304 - $55,737  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 634
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$13$26$39
Hourly Rate
$13.06 - $23.67  
   
Overtime
$17.65 - $37.83  
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$26K$52K$78K
Bonus
$0.00 - $3,893  
   
Profit Sharing
$295.90 - $4,912  
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).
)
$29,304 - $55,737  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 231
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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.

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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


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It's not very common for Underwriting Assistants to move on to become Senior Underwriters. Average pay for a Senior Underwriter is $73K annually. Typical career progression for an Underwriting Assistant involves becoming an Underwriter or an Insurance Underwriter, roles that pay $10K more and $8K more on average.

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Popular Employer Salaries for Underwriting Assistant


State Farm Insurance Company, Zurich North America, Liberty Mutual Insurance Group, ACE Group, and The Travelers Companies, Inc. are some prominent firms with considerable interest in employing a large team of Underwriting Assistants. The Travelers Companies, Inc. does shell out the biggest paychecks — the median in that office is $55K — but the company pay scale is greatly mixed, meaning that workers on the low end may earn only $35K while workers on the upper end may rake in up to $66K. Those in search of high salaries should also consider Zurich North America, Liberty Mutual Insurance Group, and ACE Group, top-paying firms where Underwriting Assistants rake in a $54K, $47K, or $45K, respectively.

Not only do salaries lack room to grow — pay ranges from $27K to just $43K — but State Farm Insurance Company offers the lowest pay in town to boot, with a median paycheck of $30K. Workers also receive paychecks lighter than average at Risk Placement Services, Inc. ($33K), Zurich ($38K), and ACE Group ($45K).


Underwriting Assistants report using a pretty varied skill set on the job. Most notably, skills in Insurance, Customer Service, Microsoft Office, and Oral / Verbal Communication are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis and Oral / Verbal Communication. It is not unusual for someone who knows Customer Service to be familiar with Insurance as well.

Pay by Experience Level for Underwriting Assistant

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


For Underwriting Assistants, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Workers with less than five years' experience earn around $37K on average, and those who have five to 10 years under their belts see a higher median salary of $41K. On average, Underwriting Assistants make $43K following one to two decades on the job. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $52K.

Pay Difference by Location

National Average: $39,916

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

For those looking to make money, Underwriting Assistants in New York enjoy an exceptional pay rate, 30 percent above the national average. Underwriting Assistants can also look forward to large paychecks in cities like San Francisco (+28 percent), Chicago (+27 percent), Los Angeles (+20 percent), and Boston (+19 percent). Falling short of the national average by 18 percent, the area with the worst salaries is Austin. Employers pay around 9 percent less in Richmond and 3 percent less in Atlanta, below-median salaries for those in this field.

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.

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Experience Affects Underwriting Assistant Salaries

Late-Career
up arrow 29%

Experienced
up arrow 8%


National Average
$40,000


Skills That Affect Underwriting Assistant Salaries

Insurance
up arrow 2%

Customer Service
0%

National Average
$40,000

Microsoft Office
up arrow 3%

Oral / Verbal Communication
up arrow 6%

Data Analysis
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 153 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
11%
1-4 years
41%
5-9 years
21%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 82%
medical benefits
Vision: 68%
dental benefits
None: 10%
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