Vice President (VP), Underwriting Salary

Wages for VPs of Underwriting in the United States are generous, with average pay above six figures ($112K) per year. Nearly all enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a fair number. Most VPs of Underwriting like their work and job satisfaction is high. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 51 percent. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$76,510 - $154,578
$77K
$110K
$150K
MEDIAN: $111,711
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
$76,510 - $154,578  
   
Bonus
$1,963 - $34,788  
Profit Sharing
$11,993  
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).
)
$76,596 - $171,621  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 80

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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

Pay by Experience for a Vice President (VP), Underwriting has a positive trend. An entry-level Vice President (VP), Underwriting with less than 5 years of experience can expect to earn an average total compensation of $100,000 based on 8 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Vice President (VP), Underwriting with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $122,000 based on 18 salaries. An experienced Vice President (VP), Underwriting which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $131,000 based on 45 salaries. A Vice President (VP), Underwriting with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $135,000 based on 34 salaries.

Related Job Salaries

Key Stats for Vice President (VP), Underwriting

Gender

Female
51 %
Male
49 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 12 votes.
1-4 years
7%
5-9 years
9%
10-19 years
43%
20 years or more
41%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Vice President (VP), Underwriting Salaries

Late-Career
▲6%

Experienced
▲2%

National Average
$128,000

Mid-Career
▼4%

Entry-Level
▼21%

Skills That Affect Vice President (VP), Underwriting Salaries

Insurance
▲21%


National Average
$128,000

Risk Management / Risk Control
▼14%

People Management
▼14%

Loan Underwriting
▼20%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 12 votes.

Gender

Female
51 %
Male
49 %

Years of Experience

1-4 years
7%
5-9 years
9%
10-19 years
43%
20 years or more
41%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 78%
vision benefits
Vision: 71%
no benefits
None: 10%