Underwriting Specialist Salary
Underwriting Specialists in the United States take home an average $65K per year. Experience level and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction for Underwriting Specialists is high. Almost all report receiving medical coverage from their employers and a large number collect dental insurance. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. The data in this summary comes from the PayScale salary survey.
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.Read More...
Underwriting specialists must be able to work on a high volume of cases, and some may occasionally be required to travel in order to manage cases for several offices. Those in this position must constantly research and stay up-to-date with all changes within the insurance field and relevant government policies, as well.
A bachelor's degree in finance or a related field is generally required for this position, and most employers prefer candidates who have master's degrees and knowledge of tax law. Certifications are also available for this position, though they are not mandatory.
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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Pay by Experience Level for Underwriting Specialist
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. The average inexperienced worker earns $44K, and someone who has worked for five to 10 years can expect a bigger median salary of $63K. Underwriting Specialists bring in $92K after working for 10 to 20 years. People who have worked for more than 20 years report a median income of $100K, which is barely higher than the median for folks with 10 to 20 years of experience.
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Key Stats for Underwriting Specialist
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