Vice President (VP), Underwriting Salary

Average pay for a VP of Underwriting in the United States is considerable, rounding six figures at $113K per year. Men working as VPs of Underwriting who took the survey just slightly outnumber women at 54 percent. Most VPs of Underwriting report high levels of job satisfaction. Medical benefits are awarded to almost all, and a large number earn dental coverage. The numbers in this rundown were provided by PayScale's salary survey participants.

$76,000 - $155,801
$76K
$110K
$160K
MEDIAN: $112,838
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$60K$120K$180K
Salary
$76,000 - $155,801  
   
Bonus
$1,968 - $30,220  
Profit Sharing
$11,700  
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).
)
$76,026 - $172,913  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 79

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United States (change)

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Job Description for Vice President (VP), Underwriting

The practice of underwriting is important for financial institutions and insurers, as it is the mechanism by which they determine their exposure to risk and the amount of premium or incoming revenue which will help to mitigate it. A vice president (VP) of underwriting is a board-level executive who is generally responsible for developing and adhering to cost- and risk-benefit systems, and their goal is to help maintain a good balance of profitability and risk management/leverage.

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Vice President (VP), Underwriting Tasks

  • Responsible for management of underwriting department.
  • Supervise, train and develop staff in portfolio-building and underwriting skills.
  • Oversee risk and account management.
  • Lead underwriting and approval process to maximize profits and minimize losses.

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Pay by Experience Level for Vice President (VP), Underwriting

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


VPs of Underwriting do not generally earn higher incomes from more experience in the field. The average inexperienced employee pulls down a cushy six-figure sum; the median salary for people claiming fewer than five years of experience is $100K. On average, VPs of Underwriting make $127K following one to two decades on the job. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a VP of Underwriting with more than 20 years of experience can earn $141K on average.

Related Job Salaries

Key Stats for Vice President (VP), Underwriting

Gender

Female
46 %
Male
54 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 11 votes.
1-4 years
7%
5-9 years
7%
10-19 years
41%
20 years or more
44%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Vice President (VP), Underwriting Salaries

Late-Career
▲10%

National Average
$129,000

Experienced
▼1%

Mid-Career
▼7%

Entry-Level
▼22%

Skills That Affect Vice President (VP), Underwriting Salaries

Insurance
▲20%

Financial Analysis
▲5%

National Average
$129,000

Risk Management / Risk Control
▼14%

People Management
▼15%

Loan Underwriting
▼21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 11 votes.

Gender

Female
46 %
Male
54 %

Years of Experience

1-4 years
7%
5-9 years
7%
10-19 years
41%
20 years or more
44%

Common Health Benefits

medical benefits
Medical: 92%
dental benefits
Dental: 81%
vision benefits
Vision: 72%
dental benefits
None: 8%
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