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 cash allowance can occasionally include more than $4K from bonuses and, in some exceptional cases, $5K from profit sharing, causing incomes to vary widely between $29K and $55K. The most influential factor affecting pay for this group is the particular firm, though the particular city and tenure have a (lesser) impact as well. Most Underwriting Assistants survey respondents are women (78 percent). Job satisfaction for Underwriting Assistants is high. A large number report receiving medical coverage from their employers and most collect dental insurance.

$29,580 - $54,894

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$12.80 - $23.21

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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
$29,580 - $54,894  
   
Bonus
$0.00 - $3,840  
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).
)
$29,215 - $55,179  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 596
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
$12.80 - $23.21  
   
Overtime
$16.95 - $39.00  
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 - $3,840  
   
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).
)
$29,215 - $55,179  
Country: United States | Currency: USD | Updated: 18 Jul 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 not the most common occurrence, Underwriting Assistants sometimes become Senior Underwriters, where the average income is $72K per year. 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 fill the offices of leading firms State Farm Insurance Company, Liberty Mutual Insurance Group, Zurich North America, ACE Group, and Zurich. For Underwriting Assistants, comfortable salaries can be found at Zurich North America; in fact, average earnings are around $54K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($32K versus $62K) is great.

Just about half of the top paying company's median, State Farm Insurance Company offers a median salary of just $30K, consistently last on the pay scale ladder by far.


Underwriting Assistants note just a narrow range of job skills. Most notably, skills in Insurance, Customer Service, Oral / Verbal Communication, and Data Analysis are correlated to pay that is above average. Skills that seem to negatively impact pay include Data Analysis and Oral / Verbal Communication. Insurance is a skill commonly found among those who know Customer Service.

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. 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. After working for 10 to 20 years, Underwriting Assistants make a median salary of $43K. In the end, more experience does seem to mean larger paychecks; seasoned Underwriting Assistants with more than 20 years of experience earn a predictably higher median salary of $51K.

Pay Difference by Location


With a pay rate for Underwriting Assistants that is 34 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Underwriting Assistants will also find cushy salaries in New York (+28 percent), Los Angeles (+27 percent), Chicago (+25 percent), and Boston (+19 percent). Trailing the national average by 19 percent, Austin is the market with the smallest paychecks. Richmond and Atlanta are a couple other places where companies are known to pay below the median — salaries are 10 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 27%

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 156 votes.

Gender

Female
78 %
Male
22 %

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: 67% employee benefits None: 10%
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