Underwriting Assistant Salary

Pay for Underwriting Assistants in the United States sits in the ballpark of $42K annually. Including potential for bonuses and profit sharing — peaking near $5K and $4K, respectively — total cash payment to Underwriting Assistants can bottom out near $30K or peak near $59K depending on individual performance. This group's pay is mainly influenced by the particular firm, followed by geography and experience level. Work is reasonably fulfilling for most Underwriting Assistants — the majority report average levels of job satisfaction. Men are in the minority of survey respondents, with female Underwriting Assistants making up 74 percent. Most enjoy medical and dental coverage in this occupation, and the larger part get vision benefits. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$31,633 - $59,377
$32K
$42K
$59K
MEDIAN: $41,586
10%
50%
90%

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$12.97 - $24.70
$13
$18
$25
MEDIAN: $17.54
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$20K$40K$60K
Salary
$31,633 - $59,377  
   
Bonus
$25.00 - $4,966  
Profit Sharing
$-0.49 - $3,878  
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).
)
$30,388 - $58,832  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 399
© PayScale, Inc. @ www.payscale.com
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$12$24$36
Hourly Rate
$12.97 - $24.70  
   
Hourly Tips
$0.00  
Overtime
$19.44 - $35.73  
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$24K$48K$72K
Bonus
$25.00 - $4,966  
   
Profit Sharing
$-0.49 - $3,878  
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).
)
$30,388 - $58,832  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 204
© PayScale, Inc. @ www.payscale.com

Find Out Exactly What You Should Be Paid

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

  • Assist underwriting agents in their duties.
  • Assist in the development and monitoring of premium rates.
  • Assist business development of new business opportunities with sales and marketing efforts.
  • Assist in the evaluation and monitoring of loss potential/control from catastrophic events.
  • Enter, review and maintain accurate records of new policies and renewals.

Common Career Paths for Underwriting Assistant


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Though some Underwriting Assistants move into positions like Senior Underwriter (where the average salary is $74K), this progression is not the norm. 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 $9K more per year.

Assistant Underwriter Job Listings

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Popular Employer Salaries for Underwriting Assistant


State Farm Insurance Company, Liberty Mutual Insurance Group, ACE Group, The Travelers Companies, Inc., and Zurich North America are some prominent firms with considerable interest in employing a large team of Underwriting Assistants. Underwriting Assistants flock to Zurich North America for generous paychecks, where average earnings of $57K lead the pack in compensation. Other big spenders include The Travelers Companies, Inc., Liberty Mutual Insurance Group, and The Chubb Corporation, top-paying firms where Underwriting Assistants see paychecks nearing $55K, $47K, or $47K.

Others at the bottom of the scale for this job include Risk Placement Services, Inc. at $33K, and State Farm Insurance Company where $34K is the norm, but it is worth noting that some Underwriting Assistants there earn up to $53K.

Pay by Experience Level for Underwriting Assistant

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


Underwriting Assistants do not generally earn higher incomes from more experience in the field. Individuals who have worked for fewer than five years bring in approximately $39K on average. Those in the five-to-10 year range can expect an average that is only a touch bigger at $41K. Underwriting Assistants see a median salary of $47K after reaching one to two decades on the job. 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

National Average: $40,543

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

Underwriting Assistants will find that Los Angeles offers an impressive pay rate, one which exceeds the national average by 38 percent. Underwriting Assistants can also look forward to large paychecks in cities like San Francisco (+36 percent), New York (+36 percent), Chicago (+26 percent), and Philadelphia (+21 percent). In Scottsdale, salaries are 2 percent below the national average and represent the lowest-paying market. Workers in Charlotte and Hartford earn less than others in this profession; their salaries fall short of the national average by 1 percent.

Underwriting Assistant Reviews

Q: 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

Key Stats for Underwriting Assistant

Gender

Female
74 %
Male
26 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 106 votes.
Less than 1 year
11%
1-4 years
48%
5-9 years
14%
10-19 years
17%
20 years or more
9%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Underwriting Assistant Salaries

▲26%

▲17%

▲2%

National Average
$41,000

▼5%

Skills That Affect Underwriting Assistant Salaries

Data Analysis
▲25%

Microsoft Excel
▲11%

▲1%


Oral / Verbal Communication
▼0%

National Average
$41,000

Microsoft Office
▼1%

Underwriting
▼1%

Data Entry
▼12%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 106 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
11%
1-4 years
48%
5-9 years
14%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 82%
vision benefits
Vision: 70%
dental benefits
None: 12%
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