Average Early-Career Insurance Underwriter Salary in Chicago, Illinois

$60,002
Avg. Salary
$4,812
Bonus
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The average salary for an Early-Career Insurance Underwriter in Chicago, Illinois is $60,002.
10%
$39k
MEDIAN
$60k
90%
$87k
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United States (change)
Salary
$39k - $87k
Bonus
$1k - $15k
Total Pay
$39k - $100k

Your Market Worth Over Time

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Job Description for Insurance Underwriter

Insurance 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.

Insurance Underwriter Job Listings

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Popular Skills for Insurance Underwriter

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

Pay by Experience Level for Insurance Underwriter

A mid-career Insurance Underwriter with 5-9 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $73,425 based on 7 salaries. An experienced Insurance Underwriter with 10-19 years of experience earns an average total compensation of $70,371 based on 15 salaries. In their late career (20 years and higher), employees earn an average total compensation of $87,350.
Employees with Insurance Underwriter in their job title in San Francisco, California earn an average of 31.8% more than the national average. These job titles also find higher than average salaries in Atlanta, Georgia (4.6% more) and New York, New York (2.7% more). The lowest salaries can be found in Austin, Texas (11.8% less), Los Angeles, California (7.3% less) and Dallas, Texas (3.5% less).

Years of Experience

This data is based on 27 survey responses.
Mid Career
25.9%
Experienced
55.6%
Late Career
18.5%