$57,631
Avg. Salary
$19.74
Avg. Hourly Rate

Average additional compensation:

$3,994

Bonus

$2,100

Profit Sharing

$5,120

Commission

What am I worth?
How should I pay?

The average pay for an Underwriter is $19.74 per hour.

The average pay for an Underwriter is $57,631 per year.

10%
$14.39
10%
$19.74
50%
$29.96
90%
90%
MEDIAN $19.74
10%
$41k
10%
$58k
50%
$85k
90%
90%
MEDIAN $57,631
$40,660 - $84,972
$41K
$58K
$85K
MEDIAN: $57,631
10%
50%
90%

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$14.39 - $29.96
$14
$20
$30
MEDIAN: $19.74
10%
50%
90%

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$0$89K
Salary $40,660 - $84,972
Bonus $984 - $14,126
Profit Sharing $249 - $6,530
Commission $990 - $21,699
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).
)
$39,085 - $89,816
  • Country: United States
  • Currency: USD
  • Updated: 16 May 2019
  • Individuals Reporting: 3,468
Hourly Data $0$53
Hourly Rate $14.39 - $29.96
Hourly Tips $2.00
Overtime $20.70 - $53.01
Annual Data $0$89K
Bonus $984 - $14,126
Commission $990 - $21,699
Profit Sharing $249 - $6,530
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).
)
$39,085 - $89,816
  • Country: United States
  • Currency: USD
  • Updated: 16 May 2019
  • Individuals Reporting: 572

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$110K

$60,998

$69,774

$49,203

$70,885

$53,026

$63,615

Aetna, Inc.
22 profiles
$54,409

$59,408

$53,760

$45,547

Common Career Paths for Underwriter


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Underwriters may progress into high-paying roles like Manager of Underwriting, where median compensation is $88K annually. Becoming a Senior Underwriter or a Mortgage Loan Underwriter is a common transition from an Underwriter role.

Underwriter Job Listings

Popular Skills for Underwriter


Survey results imply that Underwriters deploy a deep pool of skills on the job. Most notably, facility with Financial Modeling, Commercial Loans, and Underwriting are correlated to pay that is significantly above average, leading to increases of 68 percent, 30 percent, and 15 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Customer Service, Data Analysis, and Microsoft Excel. Those familiar with Insurance also tend to know Data Analysis.

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 $51,000 based on 1,346 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 $63,000 based on 571 salaries. An experienced Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $66,000 based on 465 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 $69,000 based on 183 salaries.

Pay Difference by Location

National Average: $57,515

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

Surpassing the national average by 36 percent, Underwriters in San Francisco receive some of the highest pay in the country. Underwriters can also look forward to large paychecks in cities like New York (+28 percent), Los Angeles (+25 percent), Chicago (+20 percent), and Boston (+17 percent). Falling short of the national average by 13 percent, the area with the worst salaries is Columbus. Workers in Milwaukee and Dallas earn salaries that trail the national average for those in this profession (7 percent less and 4 percent less, respectively).

Underwriter Reviews

Q: What is it like working as an Underwriter?

Underwriter in Overland Park:
"Boring and tedious."
Pros: The hours and eight to five and nothing comes home with you.
Cons: The tedious and monotonous work invloved.

Underwriter in Portland:
Pros: Some challenging situations, and constant learning.
Cons: Very repetitive. Doing the same task multiple times.

Underwriter in Knoxville:
"Interesting."
Pros: Treatment by company.
Cons: Pay.

Underwriter in Eugene:
"Good."
Pros: It is always busy.
Cons: The billing cycles.

Underwriter in Poughkeepsie:
"Extremely fast paced, high stress, must be able to multi tas."
You must be flexible and smart. Multi tasking is part of the job.

Underwriter in Poughkeepsie:
"Never a dull moment."
Multi tasking, flexibility, and long hours. If you love math, and reasoning, this job is for you.

Underwriter in New York:
"Underwriter."
Pros: I get paid.
Cons: I don't get paid enough.

Related Job Salaries

Key Stats for Underwriter

Gender

Female
54 %
Male
46 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 788 votes.
Less than 1 year
8%
1-4 years
45%
5-9 years
21%
10-19 years
18%
20 years or more
8%

Experience Affects Underwriter Salaries

▲20%

▲15%

▲10%

National Average
$58,000

▼11%

Skills That Affect Underwriter Salaries

Financial Modeling
▲64%

Commercial Loans
▲27%

Underwriting
▲12%



▲3%

▲3%

Commercial
▲3%

National Average
$58,000

▼2%

Risk Management / Risk Control
▼3%

Loan Underwriting
▼4%

Customer Relationship Management (CRM)
▼5%




Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 788 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

Less than 1 year
8%
1-4 years
45%
5-9 years
21%
10-19 years
18%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 80%
vision benefits
Vision: 71%
no benefits
None: 12%