Average Underwriter Salary

$57,661
Avg. SalaryShow Hourly Rate
$4,005
Bonus
$5,057
Commission
$2,056
Profit Sharing
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The average salary for an Underwriter is $57,661.
10%
$41k
10%
$58k
50%
$86k
90%
90%
MEDIAN $57,661
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United States (change)
Salary
$41k - $86k
Bonus
$986 - $14k
Profit Sharing
$200 - $6k
Commission
$986 - $22k
Total Pay
$39k - $90k

Your Market Worth Over Time

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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.
The top respondents for the job title Underwriter are from the companies The Chubb Corporation, State Farm Insurance Company and The Travelers Companies, Inc.. Reported salaries are highest at Liberty Mutual Insurance Group where the average pay is $72,599. Other companies that offer high salaries for this role include The Travelers Companies, Inc. and The Hartford Financial Services Group, Inc., earning around $71,053 and $63,615, respectively. State Farm Insurance Company pays the lowest at around $51,325. Cigna Corporation and Aetna, Inc. also pay on the lower end of the scale, paying $53,028 and $54,409, respectively.

Career Paths

Explore the most common career paths for Underwriter. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
Underwriter
Senior Underwriter
Insurance Underwriter
Loan Underwriter, Mortgage
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Underwriter Job Listings

Popular Skills for Underwriter

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

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 $48,725 based on 329 salaries. An early career Underwriter with 1-4 years of experience earns an average total compensation of $54,104 based on 1,833 salaries. A mid-career Underwriter with 5-9 years of experience earns an average total compensation of $63,071 based on 855 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of $65,892 based on 716 salaries. In their late career (20 years and higher), employees earn an average total compensation of $70,174.
Employees with Underwriter in their job title in Los Angeles, California earn an average of 34.1% more than the national average. These job titles also find higher than average salaries in New York, New York (20.5% more) and Chicago, Illinois (12.5% more). The lowest salaries can be found in Phoenix, Arizona (5.1% less).

Years of Experience

This data is based on 4,081 survey responses.
Entry Level
8.1%
Early Career
44.9%
Mid Career
21.0%
Experienced
17.5%
Late Career
8.5%