Avg. Base Salary (USD)
The average salary for an Underwriter is $57,556
What is the Pay by Experience Level for Underwriters?
An early career Underwriter with 1-4 years of experience earns an average total compensation (includes tips, bonus, and overtime pay) of $52,381 based on 20 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of $71,703 based on 5 salaries. In their late career (20 years and …Read more
What Do Underwriters Do?
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.
Loans are the primary source of income for a bank, and ensuring the quality of loans is of the utmost importance. Underwriters must follow all regulations, from the guidelines of the company and external underwriter to federal regulations for the …Read more
- 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.