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Underwriting Assistant Salary

Underwriting Assistants aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $41K annually. Total cash compensation for Underwriting Assistants runs from $29K to $55K depending on bonuses that can occasionally exceed $4K and profit sharing that can reach almost $5K. Residence is the main element affecting pay for this group — the specific employer and experience level are driving factors as well. Medical benefits are awarded to most, and a large number earn dental coverage. Most Underwriting Assistants survey respondents are women (79 percent). The majority of workers are highly satisfied with their job.

$29,542 - $55,173
(Median)
$30K
$41K
$55K
MEDIAN: $40,535
10%
50%
90%

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$12.76 - $22.41
(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
$29,542 - $55,173  
   
Bonus
$0.00 - $3,893  
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).
)
$29,127 - $55,234  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 590
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
$12.76 - $22.41  
   
Overtime
$17.67 - $38.87  
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 - $3,893  
   
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).
)
$29,127 - $55,234  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 204

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United States (change)


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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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While Underwriting Assistants do not often become Senior Underwriters, the job pays $72K 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

Jobs by Simply Hired
jobs by Indeed job search

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Popular Employer Salaries for Underwriting Assistant


Underwriting Assistants flock to Liberty Mutual Insurance Group for generous paychecks, where average earnings of $47K lead the pack in compensation; however, Liberty Mutual Insurance Group also provides employees with a wide spectrum of compensation ranging from $40K at one end to $84K at the other end.

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 $45K, leaving little room for growth.

Popular Skills for Underwriting Assistant


Underwriting Assistants who responded to the survey report just a handful of professional skills. Most notably, skills in Insurance, Customer Service, Data Analysis, and Oral / Verbal Communication are correlated to pay that is above average. Skills that pay less than market rate include Oral / Verbal Communication and Data Analysis. Experience with Customer Service is often linked with knowledge of Insurance.

Pay by Experience Level for Underwriting Assistant

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


For Underwriting Assistants, more experience in the field does not usually mean bigger paychecks. Folks with fewer than five years of experience take home $37K on average, and those who have worked for five to 10 years see a bigger median salary of $42K. People with 10 to 20 years of experience make an average of about $43K in this role. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $51K, demonstrating that compensation is roughly commensurate with experience in the end.

Pay Difference by Location


Home to some of the best pay for Underwriting Assistants, San Francisco offers exceptional salaries, 34 percent above the national average. Underwriting Assistants can also look forward to large paychecks in cities like New York (+29 percent), Los Angeles (+27 percent), Chicago (+22 percent), and Boston (+20 percent). Austin ranks last in the field for pay, reporting salaries 18 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.

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United States (change)

Experience Affects Underwriting Assistant Salaries

Late-Career
up arrow 29%

Experienced
up arrow 7%


National Average
$40,000


Skills That Affect Underwriting Assistant Salaries

Insurance
up arrow 3%

Customer Service
up arrow 1%

National Average
$40,000

Data Analysis
up arrow 7%

Oral / Verbal Communication
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 168 votes.

Gender

Female
79 %
Male
21 %

Years of Experience

Less than 1 year
10%
1-4 years
40%
5-9 years
23%
10-19 years
19%
20 years or more
8%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 81%
vision benefits Vision: 66% employee benefits None: 10%
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