Underwriter in New York Salary

Median pay for Underwriters in New York, N.Y. lies in the neighborhood of $68K annually. Male Underwriters in New York are just a bit more common among those who completed the questionnaire than females ones, with male workers composing 57 percent of the field. Job satisfaction is high and work is enjoyable for most New York Underwriters. Nearly all report receiving medical coverage from their employers and most collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$50,888 - $98,032
$51K
$69K
$98K
MEDIAN: $68,703
10%
50%
90%

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$0$130K
Salary $50,888 - $98,032
Bonus $2,000 - $34,677
Profit Sharing $1,500
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).
)
$51,533 - $130,269
  • Country: United States
  • Currency: USD
  • Updated: 13 Nov 2017
  • Individuals Reporting: 112

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.

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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.

About New York, New York

Kings County, New York
8,550,405
Male:
4,081,698 (47.7%)
Female:
4,468,707 (52.3%)
The City of New York, often called New York City or simply New York, is the most populous city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, one of the most populous urban agglomerations in the world. With a U.S. Census Bureau-estimated 2015 population of 8,550,405 distributed over a land area of just 305 square miles (790 km2), New York is also the most densely populated major city in the United States. A global power city, New York City exerts a significant impact upon commerce, finance, media, art, fashion, research, technology, education, and entertainment, its fast pace defining the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy and has been described as the cultural and financial capital of the world. Situated...
New York, NY:
$55,752
New York:
$60,850
$1,317
New York, NY:
$538,300
New York:
$293,500
4.7%

Underwriter Job Listings

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 $68,000 based on 88 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 $75,000 based on 40 salaries. An experienced Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $71,000 based on 15 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 $142,000 based on 6 salaries.

Key Stats for Underwriter

Gender

Female
38 %
Male
63 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 17 votes.
Less than 1 year
4%
1-4 years
54%
5-9 years
25%
10-19 years
9%
20 years or more
8%

Experience Affects Underwriter Salaries

Late-Career
▲91%

▲1%

National Average
$74,000

▼4%

▼8%

Skills That Affect Underwriter Salaries

Loan Underwriting
▲24%


National Average
$74,000


▼1%

Sales
▼4%

▼5%

Microsoft Excel
▼6%



Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 17 votes.

Gender

Female
38 %
Male
63 %

Years of Experience

Less than 1 year
4%
1-4 years
54%
5-9 years
25%
10-19 years
9%
20 years or more
8%

Common Health Benefits

medical benefits
Medical: 93%
dental benefits
Dental: 86%
vision benefits
Vision: 70%
no benefits
None: 7%