Underwriting Specialist Salary

Median pay for Underwriting Specialists in the United States lies in the neighborhood of $57K annually. Location is the biggest factor affecting pay for this group, followed by career duration. The majority of Underwriting Specialists claim high levels of job satisfaction. Most get medical and dental insurance, and a strong majority get vision plans, too. Women make up a slight majority of Underwriting Specialists (55 percent) survey respondents.

$36,018 - $97,726
(Median)
$36K
$57K
$98K
MEDIAN: $56,757
10%
50%
90%

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$10.30 - $25.17
(Median)
$10
$17
$25
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$50K$100K$150K
Salary
$36,018 - $97,726  
   
Bonus
$0.00 - $14,577  
Profit Sharing
$491.32 - $4,913  
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).
)
$33,739 - $103,861  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 90
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$25$50$75
Hourly Rate
$10.30 - $25.17  
   
Overtime
$21.94 - $30.84  
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$50K$100K$150K
Bonus
$0.00 - $14,577  
   
Profit Sharing
$491.32 - $4,913  
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).
)
$33,739 - $103,861  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 13
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Job Description for Underwriting Specialist

Underwriting specialists must have excellent problem-solving skills, as they are responsible for evaluating risks and profitability of particular clients' cases. These specialists make the final decisions of whether to approve or deny a client's expense, so excellent written and verbal communication skills are also important for this position.

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Underwriting Specialist Tasks

  • Conduct and write up account reviews.
  • Evaluate case risk and profitability.
  • Manage and grow assigned portfolio.
  • Develop relationships with current and new clients.

Underwriting Specialist Job Listings

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Underwriting Specialists usually report a few specific skills. Insurance and Data Analysis are considered valuable skills and can increase employee pay. Skills that pay less than market rate include Data Analysis and Insurance.

Pay by Experience Level for Underwriting Specialist

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


Underwriting Specialists who reported more years of relevant experience also reported higher earnings. Survey participants with less than five years' experience pocket $42K on average, but those with five to 10 years of experience enjoy a much bigger median of $64K. Underwriting Specialists see a median salary of $69K after reaching one to two decades on the job. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $75K on average.

Related Job Salaries

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Experience Affects Underwriting Specialist Salaries

Late-Career
up arrow 38%

Experienced
up arrow 26%

Mid-Career
up arrow 17%

National Average
$54,000

Entry-Level
up arrow 22%

Skills That Affect Underwriting Specialist Salaries

National Average
$54,000

Insurance
up arrow 8%

Data Analysis
up arrow 9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 16 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

Less than 1 year
10%
1-4 years
31%
5-9 years
28%
10-19 years
21%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 82%
vision benefits Vision: 71% employee benefits None: 11%
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