£27,017
Avg. Salary

Average additional compensation for this job:

Bonus

£2,077

Profit Sharing

£29.50

Commission

£750

The average pay for an Underwriter is £26,537 per year. Most people with this job move on to other positions after 20 years in this field. A skill in Underwriting is associated with high pay for this job. Pay for this job rises steadily for more experienced workers, but goes down noticeably for the few employees with more than 20 years' experience.

£18,109 - £54,355
£18K
£27K
£54K
MEDIAN: £27,017
10%
50%
90%
£8.24 - £14.54
£12
MEDIAN: £11.67
50%
£0£57K
Salary £18,109 - £54,355
Bonus £587 - £10,166
Profit Sharing £0.00 - £2,617
Commission £750
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).
)
£18,422 - £57,444
  • Country: United Kingdom
  • Currency: GBP
  • Updated: 11 Aug 2018
  • Individuals Reporting: 447
Hourly Data £0£18
Hourly Rate £11.67
Overtime £15.26
Annual Data £0£57K
Bonus £587 - £10,166
Commission £750
Profit Sharing £0.00 - £2,617
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).
)
£18,422 - £57,444
  • Country: United States
  • Currency: GBP
  • Updated: 11 Aug 2018
  • Individuals Reporting: 9

Job Description for Underwriter

Underwriters work primarily in banks which handle loans and mortgages and are responsible for analyzing the risks of a loan based on the data in the application. They also oversee other information in the loan application to ensure it is accurate.

Read More...

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.

Underwriter Pay By Employer

$0$114K

$60,740

$68,755

$46,975

$69,249

Aetna, Inc.
25 profiles
$51,230

$59,197

$63,615

$52,635

ACE Group
20 profiles
$56,502

$54,380

Common Career Paths for Underwriter


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Underwriter Job Listings

Pay by Experience Level for Underwriter

Pay by Experience for an Underwriter has a positive trend. An entry-level Underwriter with less than 5 years of experience can expect to earn an average total compensation of ₤25,000 based on 156 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Underwriter with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of ₤31,000 based on 94 salaries. An experienced Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of ₤40,000 based on 55 salaries. An Underwriter with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of ₤37,000 based on 14 salaries.

Pay Difference by Location

National Average: £28,063

Larger city markers indicate a job is popular in that location.

Underwriter Reviews

Q: What is it like working as an Underwriter?

Underwriter in Newcastle:
"Great Company With Some Terrible Middle Managers."
Pros: The pay and bonus.
Cons: Terrible managers. Pressure, deadlines, no thanks. Morbid office - more like school.

Related Job Salaries

Key Stats for Underwriter

Gender

Female
31 %
Male
69 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 8 votes.
Less than 1 year
3%
1-4 years
45%
5-9 years
27%
10-19 years
19%
20 years or more
6%

Experience Affects Underwriter Salaries

Experienced
▲44%

▲34%

Mid-Career
▲9%

National Average
₤28,000

▼12%

Skills That Affect Underwriter Salaries

Underwriting
▲28%

▲9%

Risk Management / Risk Control
▲8%

National Average
₤28,000

Financial Analysis
▼2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 8 votes.

Gender

Female
31 %
Male
69 %

Years of Experience

Less than 1 year
3%
1-4 years
45%
5-9 years
27%
10-19 years
19%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 48%
dental benefits
Dental: 15%
vision benefits
Vision: 23%
no benefits
None: 45%