Average Underwriter Salary in Australia

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The average salary for an Underwriter in Australia is AU$67,237.
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United States (change)
AU$50k - AU$97k
AU$710 - AU$15k
Profit Sharing
AU$0 - AU$1k
AU$0 - AU$13k
Total Pay
AU$50k - AU$101k

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Job Description for Underwriter

Underwriter Tasks
  • Analyze new and renewal business, data, claim history, loss experience, and outcome of liability decisions.
  • Underwrite, submit, approve or pend coverage amounts and premiums, and present decisions to management.
  • Monitor existing policies for compliance with company guidelines.
  • Manage underwriting territory and select new business based on analysis of their profitability.

Popular Employer Salaries for Underwriter

The top respondents for the job title Underwriter are from the companies QBE Australia, Allianz and Steadfast Companies. Reported salaries are highest at Allianz where the average pay is AU$108,500. Other companies that offer high salaries for this role include QBE Australia, earning around AU$76,291. Steadfast Companies pays the lowest at around AU$60,395. Suncorp also pays on the lower end of the scale, paying AU$61,042.

Underwriter Job Listings

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Popular Skills for Underwriter

Skills in Insurance, Risk Management / Risk Control and Financial Analysis are correlated to pay that is above average. Skills that pay less than market rate include Data Analysis and Customer Service.

Pay by Experience Level for Underwriter

An entry-level Underwriter with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of AU$57,044 based on 9 salaries. An early career Underwriter with 1-4 years of experience earns an average total compensation of AU$64,794 based on 86 salaries. A mid-career Underwriter with 5-9 years of experience earns an average total compensation of AU$71,597 based on 75 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of AU$78,046 based on 33 salaries. In their late career (20 years and higher), employees earn an average total compensation of AU$76,398.
Employees with Underwriter in their job title in Sydney, New South Wales earn an average of 9.8% more than the national average. These job titles also find higher than average salaries in Perth, Western Australia (4.9% more). The lowest salaries can be found in Melbourne, Victoria (5.7% less), Brisbane, Queensland (2.5% less) and Adelaide, South Australia (0.9% less).

Years of Experience

This data is based on 214 survey responses.
Entry Level
Early Career
Mid Career
Late Career

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