Underwriting Assistant Salary

Pay for Underwriting Assistants in the United States is very modest at just $41K per year. In the world of Underwriting Assistants, overall income ranges from $29K near the bottom to $56K at the top; this can include more than $4K from bonuses and more than $5K from profit sharing in exceptional cases. The most influential factor affecting pay for this group is the specific employer, though the particular city and experience level have a (lesser) impact as well. Men are in the minority of survey respondents, with female Underwriting Assistants making up 78 percent. Medical benefits are awarded to a large number, and most earn dental coverage. Most workers in this position report high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.

$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. Career advancement for the typical Underwriting Assistant often leads to becoming an Underwriter or an Insurance Underwriter; median salaries in these positions are $10K higher and $8K higher, respectively.

Assistant Underwriter Job Listings

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Popular Employer Salaries for Underwriting Assistant


Underwriting Assistants flock to State Farm Insurance Company, Zurich North America, Liberty Mutual Insurance Group, ACE Group, and The Travelers Companies, Inc., highly regarded companies that employ a generous number of people in this profession. For Underwriting Assistants, comfortable salaries can be found at The Travelers Companies, Inc.; in fact, average earnings are around $55K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($35K versus $66K) is great. Other employers shelling out big bucks include Zurich North America, Liberty Mutual Insurance Group, and ACE Group, where Underwriting Assistants typically earn around $54K, $47K, or $45K, respectively.

Considering that the median salary at State Farm Insurance Company is a shallow $30K, it is not surprising that this employer ranks last in compensation relative to (and far behind) other companies in the same line of work — their median pay is just about half of the top paying company's median. Workers also receive paychecks lighter than average at Risk Placement Services, Inc. ($33K), Zurich ($38K), and ACE Group ($45K).


Just a handful of professional skills are reported by Underwriting Assistants who took the survey. 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. Customer Service and Insurance are correlating skills — those who know the former usually know the latter.

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. For Underwriting Assistants, 10 to 20 years of experience on the job amounts to an average salary of $43K. After two decades in the workforce, the average Underwriting Assistant generally earns more than ever; median pay for this group is estimated at $52K.

Pay Difference by Location

National Average: $39,916

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

Surpassing the national average by 30 percent, Underwriting Assistants in New York receive some of the highest pay in the country. Underwriting Assistants will also find cushy salaries in 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. Below-median salaries also turn up in Richmond and Atlanta (9 percent lower and 3 percent lower, respectively).

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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