$79,838
Avg. Salary
$31.09
Avg. Hourly Rate

Average additional compensation:

$7,778

Bonus

$3,327

Profit Sharing

$17,994

Commission

What am I worth?
How should I pay?

The average pay for a Senior Underwriter is $31.09 per hour.

The average pay for a Senior Underwriter is $79,838 per year.

10%
$18.43
10%
$31.09
50%
$42.70
90%
90%
MEDIAN $31.09
10%
$56k
10%
$80k
50%
$109k
90%
90%
MEDIAN $79,838
$56,316 - $108,566
$56K
$80K
$110K
MEDIAN: $79,838
10%
50%
90%

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$18.43 - $42.70
$18
$31
$43
MEDIAN: $31.09
10%
50%
90%

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$0$119K
Salary $56,316 - $108,566
Bonus $1,953 - $19,686
Profit Sharing $482 - $9,328
Commission $5,068 - $73,974
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).
)
$57,016 - $119,626
  • Country: United States
  • Currency: USD
  • Updated: 17 Apr 2019
  • Individuals Reporting: 2,120
Hourly Data $0$64
Hourly Rate $18.43 - $42.70
Hourly Tips $0.43
Overtime $28.22 - $64.37
Annual Data $0$119K
Bonus $1,953 - $19,686
Commission $5,068 - $73,974
Profit Sharing $482 - $9,328
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).
)
$57,016 - $119,626
  • Country: United States
  • Currency: USD
  • Updated: 17 Apr 2019
  • Individuals Reporting: 144

Job Description for Senior Underwriter

Senior underwriters analyze new loan applications to determine whether an applicant should be administered a loan. They may analyze the ability to pay, credit score, and how much is being requested, and the submitted information should be verified during this process. It's also important to determine whether the application fulfills certain parameters of various loans.

Read More...
Senior Underwriter Tasks
  • Assess eligibility of clients' applications to receive capital, insurance, mortgage, or credit.
  • Evaluate collateral and ensure portfolio credit quality.
  • Structure products to meet clients' needs.

Popular Employer Salaries for Senior Underwriter


Known for taking on a considerable number of Senior Underwriters, American International Group, Inc. (AIG), The Chubb Corporation, The Hartford Financial Services Group, Inc., ACE Group, and Nationwide Mutual Insurance Company are leading firms in the industry. Crum and Forster offers the largest salaries in town — $118K on average. Other leaders in compensation levels are The Hanover Insurance Company at $115K, The Hartford Financial Services Group, Inc. at $104K, and Bank of America Corp. (BOFA), where Senior Underwriters annually earn $101K.

Relative to other names in the field, compensation is very low at Nationwide Mutual Insurance Company — the median salary comes to just $64K, about half the top paying employer's rate. Workers at Aetna, Inc., J.P. Morgan Chase & Co. (JPMCC), and ACE Group also face smaller salaries than the rest of the field — average earnings for these employers come to $76K, $78K, and $87K respectively.

Common Career Paths for Senior Underwriter


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Senior Underwriters who advance into the role of a VP of Underwriting are fairly uncommon. VPs of Underwriting on average earn $130K per year. Going from Senior Underwriter to Manager of Underwriting is the transition that occurs most often in this field, where the paychecks are $88K. Many others choose to work as Mortgage Loan Underwriters, where pay is typically $56K.

Senior Underwriter Job Listings

Popular Skills for Senior Underwriter


Survey results suggest that Senior Underwriters use a fairly large toolkit of professional skills. Most notably, skills in Sales, Negotiation, Underwriting, and Data Analysis are correlated to pay that is above average. Skills that pay less than market rate include Mortgage Loans and Loan Underwriting. The majority of those who know Insurance also know Financial Analysis.

Pay by Experience Level for Senior Underwriter

Pay by Experience for a Senior Underwriter has a positive trend. An entry-level Senior Underwriter with less than 5 years of experience can expect to earn an average total compensation of $72,000 based on 172 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Underwriter with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $79,000 based on 400 salaries. An experienced Senior Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $82,000 based on 485 salaries. A Senior Underwriter with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $83,000 based on 303 salaries.

Pay Difference by Location

National Average: $83,987

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

New York offers some of the highest pay in the country for Senior Underwriters, 34 percent above the national average. Senior Underwriters can also look forward to large paychecks in cities like Boston (+25 percent), San Francisco (+24 percent), Los Angeles (+18 percent), and Richmond (+12 percent). Senior Underwriters' salaries are heavily influenced by location — Senior Underwriters in Tampa bring in salaries that are 21 percent lower than the national average. A couple other locations with smaller-than-average paychecks include Houston (9 percent lower) and Columbus (3 percent lower).

Related Job Salaries

Key Stats for Senior Underwriter

Gender

Female
54 %
Male
45 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 457 votes.
Less than 1 year
0%
1-4 years
9%
5-9 years
27%
10-19 years
38%
20 years or more
26%

Experience Affects Senior Underwriter Salaries

National Average
$84,000

▼2%

▼2%

▼6%

▼15%

Skills That Affect Senior Underwriter Salaries

Sales
▲13%

▲1%

Underwriting
▼0%

National Average
$84,000

Data Analysis
▼1%

▼2%






Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 457 votes.

Gender

Female
54 %
Male
45 %

Years of Experience

Less than 1 year
0%
1-4 years
9%
5-9 years
27%
10-19 years
38%
20 years or more
26%

Common Health Benefits

medical benefits
Medical: 90%
dental benefits
Dental: 85%
vision benefits
Vision: 76%
no benefits
None: 8%