Underwriting Assistant Salary

Underwriting Assistants in the United States can expect only a modest salary, with average pay of just $40K per year. Total cash compensation to Underwriting Assistants bottoms out near $29K and approaches $55K on the high end; the biggest paychecks include approximately $4K from bonuses and almost $5K from profit sharing. Compensation for this group is mainly affected by residence, but the company and years of experience are influential factors as well. Medical benefits are awarded to a large number, and most earn dental coverage. Men are in the minority of survey respondents, with female Underwriting Assistants making up 78 percent. Most Underwriting Assistants like their work and job satisfaction is high. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$29,538 - $55,075
(Median)
$30K
$40K
$55K
MEDIAN: $40,480
10%
50%
90%

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$12.71 - $22.47
(Median)
$13
$17
$22
MEDIAN: $16.00
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$19K$38K$57K
Salary
$29,538 - $55,075  
   
Bonus
$0.00 - $3,923  
Profit Sharing
$302.01 - $4,855  
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).
)
$29,131 - $55,108  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 592
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$14$28$42
Hourly Rate
$12.71 - $22.47  
   
Overtime
$17.52 - $39.20  
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$28K$56K$84K
Bonus
$0.00 - $3,923  
   
Profit Sharing
$302.01 - $4,855  
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).
)
$29,131 - $55,108  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 200

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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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There are some Underwriting Assistants — though it's uncommon — that transition into Senior Underwriters, where earnings are an average $72K annually. When Underwriting Assistants are ready for the next step in their careers, they often become Underwriters or Insurance Underwriters. Those roles pay an additional $10K and $8K, respectively.

Assistant Underwriter Job Listings

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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.

Underwriting Assistants will find the worst pay at State Farm Insurance Company, where the median salary crawls in at $30K. Furthermore, compensation is curbed at $44K, leaving little room for growth.


Underwriting Assistants report a narrow range of specific skills. Most notably, skills in Insurance, Customer Service, Oral / Verbal Communication, and Data Analysis are correlated to pay that is above average. Skills that seem to negatively impact pay 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.


Underwriting Assistants with a lot of experience do not necessarily enjoy more money. The average inexperienced worker's salary is approximately $37K, and people with five to 10 years of experience bring in more at around $41K on average. After working for 10 to 20 years, Underwriting Assistants make a median salary of $43K. 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 $51K.

Pay Difference by Location


For Underwriting Assistants, San Francisco provides a pay rate that is 30 percent greater than the national average. Underwriting Assistants will also find cushy salaries in New York (+30 percent), Los Angeles (+24 percent), Chicago (+22 percent), and Boston (+20 percent). The lowest-paying market is Austin, which sits 17 percent below 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

United States (change)

Experience Affects Underwriting Assistant Salaries

Late-Career
up arrow 27%

Experienced
up arrow 7%


National Average
$40,000


Skills That Affect Underwriting Assistant Salaries

Insurance
up arrow 3%

Customer Service
0%

National Average
$40,000

Oral / Verbal Communication
up arrow 3%

Data Analysis
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 174 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
9%
1-4 years
40%
5-9 years
24%
10-19 years
18%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 81%
vision benefits Vision: 67% employee benefits None: 9%