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 $55K depending on individual performance. Compensation for this group is mainly affected by geographic location, but the specific employer and years of experience are influential factors as well. Medical benefits are awarded to most, and a large number earn dental coverage. Work is enjoyable for Underwriting Assistants, who typically claim high levels of job satisfaction. Female Underwriting Assistants make up most of the survey respondents at 78 percent. Participants in PayScale's salary questionnaire provided the particulars of this report.

$29,590 - $55,072
(Median)
$30K
$41K
$55K
MEDIAN: $40,618
10%
50%
90%

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$12.80 - $22.57
(Median)
$13
$17
$23
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
$29,590 - $55,072  
   
Bonus
$0.00 - $3,888  
Profit Sharing
$304.10 - $5,015  
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).
)
$29,218 - $55,144  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 593
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
$12.80 - $22.57  
   
Overtime
$17.65 - $39.07  
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 - $3,888  
   
Profit Sharing
$304.10 - $5,015  
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).
)
$29,218 - $55,144  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 204
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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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Though it's uncommon, some Underwriting Assistants move into roles as Senior Underwriters, where pay is an average $72K per year. A common career progression for an Underwriting Assistant is to become an Underwriter or an Insurance Underwriter. Compared to Underwriting Assistants, the first group earns $10K more on average, and the second group earns $8K more.

Assistant Underwriter Job Listings

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Popular Employer Salaries for Underwriting Assistant


The biggest paychecks can be found at Liberty Mutual Insurance Group — the median salary there is $47K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $40K and highest ones in the neighborhood of $84K.

Not only do salaries lack room to grow — pay ranges from $27K to just $45K — but State Farm Insurance Company offers the lowest pay in town to boot, with a median paycheck of $30K.


Underwriting Assistants usually report a few specific skills. Most notably, skills in Insurance, Customer Service, Oral / Verbal Communication, and Data Analysis are correlated to pay that is above average. At the other end of the pay range are skills like Data Analysis and Oral / Verbal Communication. Many workers who know Customer Service also know Insurance.

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. Average salaries for inexperienced employees average out to around $37K, but folks who have five to 10 years of experience earn a higher median of $42K. The average pay reported by folks with 10 to 20 years of experience is around $43K. As Underwriting Assistants reach more than two decades on the job, compensation remains commensurate with experience; the average pay in this group is $51K.

Pay Difference by Location


With a pay rate for Underwriting Assistants that is 30 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. 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 (+19 percent). Austin is home to the smallest salaries in the field, lagging the national average by 19 percent. Workers in Richmond and Alpharetta earn salaries that trail the national average for those in this profession (8 percent less and 2 percent less, 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 28%

Experienced
up arrow 8%


National Average
$40,000


Skills That Affect Underwriting Assistant Salaries

Insurance
up arrow 3%

Customer Service
up arrow 1%

National Average
$40,000

Oral / Verbal Communication
up arrow 6%

Data Analysis
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 161 votes.

Gender

Female
78 %
Male
22 %

Years of Experience

Less than 1 year
10%
1-4 years
39%
5-9 years
23%
10-19 years
19%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 81%
vision benefits Vision: 67% employee benefits None: 10%
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