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Average Underwriter Salary

$59,566
Avg. SalaryShow Hourly Rate
$4,243
Bonus
$9,826
Commission
$2,551
Profit Sharing
What am I worth?
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How should I pay?
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The average salary for an Underwriter is $59,566.
10%
$43k
MEDIAN
$60k
90%
$86k
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Salary
$43k - $86k
Bonus
$1k - $13k
Profit Sharing
$400 - $7k
Commission
$1k - $25k
Total Pay
$40k - $91k
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What Do Underwriters Do?

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.

Job Satisfaction for Underwriter

3.8 out of 5
(698)
Highly Satisfied
46Reviews
The top respondents for the job title Underwriter are from the companies The Chubb Corporation, State Farm Insurance Company and Aetna, Inc.. Reported salaries are highest at Liberty Mutual Insurance Group where the average pay is $73,197. Other companies that offer high salaries for this role include The Travelers Companies, Inc. and The Chubb Corporation, earning around $70,630 and $65,291, respectively. Aetna, Inc. pays the lowest at around $51,627. Cigna Corporation and State Farm Insurance Company also pay on the lower end of the scale, paying $53,471 and $53,483, 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
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)

Underwriter Job Listings

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What Are Popular Skills for Underwriters?

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.

What is the Pay by Experience Level for Underwriters?

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 $49,709 based on 271 salaries. An early career Underwriter with 1-4 years of experience earns an average total compensation of $56,230 based on 1,519 salaries. A mid-career Underwriter with 5-9 years of experience earns an average total compensation of $63,969 based on 757 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of $68,112 based on 551 salaries. In their late career (20 years and higher), employees earn an average total compensation of $71,749.
Employees with Underwriter in their job title in New York, New York earn an average of 21.1% more than the national average. These job titles also find higher than average salaries in Chicago, Illinois (15.3% more) and Hartford, Connecticut (3.0% more). The lowest salaries can be found in Phoenix, Arizona (6.5% less).

Years of Experience

This data is based on 3,390 survey responses.
Entry Level
8.0%
Early Career
44.8%
Mid Career
22.3%
Experienced
16.3%
Late Career
8.6%