Underwriting Assistant Salary

Underwriting Assistants in the United States take home approximately $43K annually on average. Total cash compensation to Underwriting Assistants approaches anywhere from $31K on the lower end to $59K on the higher end; in exceptional cases, this can include more than $5K from bonuses and upwards of $4K from profit sharing. The particular firm is the biggest factor affecting pay for this group, followed by geography and tenure. Most Underwriting Assistants survey respondents are women (74 percent). Most claim medical and dental insurance and the larger part get vision coverage. Most Underwriting Assistants like their work and job satisfaction is high.

$32,456 - $60,169
$32K
$43K
$60K
MEDIAN: $42,564
10%
50%
90%

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$13.29 - $24.46
$13
$18
$24
MEDIAN: $17.95
10%
50%
90%

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$0$60K
Salary $32,456 - $60,169
Bonus $-0.46 - $4,975
Profit Sharing $25.00 - $4,069
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).
)
$30,948 - $59,293
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 436
Hourly Data $0$35
Hourly Rate $13.29 - $24.46
Hourly Tips $0.00
Overtime $17.94 - $35.46
Annual Data $0$59K
Bonus $-0.46 - $4,975
Profit Sharing $25.00 - $4,069
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).
)
$30,948 - $59,293
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 224

Find Out Exactly What You Should Be Paid

United States (change)

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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Underwriting Assistants do not often transition into Senior Underwriter roles. The role averages $74K per year. 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.

Underwriting Assistant Job Listings

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 top-notch employers for Underwriting Assistants in this area. Zurich North America offers the highest compensation with a median salary of $57K. The Travelers Companies, Inc., Liberty Mutual Insurance Group, and The Chubb Corporation also offer top salaries for Underwriting Assistants. Workers at these firms can expect to earn about $55K, $47K, and $47K, respectively.

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

Pay by Experience for an Underwriting Assistant has a positive trend. An entry-level Underwriting Assistant with less than 5 years of experience can expect to earn an average total compensation of $39,000 based on 398 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Underwriting Assistant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 118 salaries. An experienced Underwriting Assistant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $47,000 based on 126 salaries. An Underwriting Assistant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $51,000 based on 57 salaries.

Pay Difference by Location

National Average: $41,203

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

Los Angeles offers some of the highest pay in the country for Underwriting Assistants, 36 percent above the national average. Underwriting Assistants can also look forward to large paychecks in cities like San Francisco (+34 percent), New York (+34 percent), Chicago (+24 percent), and Philadelphia (+19 percent). Scottsdale ranks last in the field for pay, reporting salaries 4 percent below the national average. Below-median salaries also turn up in Charlotte and Hartford (3 percent lower).

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 127 votes.
Less than 1 year
11%
1-4 years
47%
5-9 years
14%
10-19 years
18%
20 years or more
10%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Underwriting Assistant Salaries

▲24%

▲15%

▼0%

National Average
$41,000

▼6%

Skills That Affect Underwriting Assistant Salaries

Data Analysis
▲23%

Microsoft Excel
▲9%

▼0%

National Average
$41,000


Oral / Verbal Communication
▼1%

Microsoft Office
▼3%

Underwriting
▼3%

Data Entry
▼14%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 127 votes.

Gender

Female
74 %
Male
26 %

Years of Experience

Less than 1 year
11%
1-4 years
47%
5-9 years
14%
10-19 years
18%
20 years or more
10%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 81%
vision benefits
Vision: 69%
no benefits
None: 12%
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