Underwriter in Philadelphia, Pennsylvania Salary

Underwriters in Philadelphia take home an average $58K per year. Job satisfaction is high and work is enjoyable for most Philadelphia Underwriters. The majority of Underwriters in Philadelphia, Pa. (60 percent) who took the survey are women. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The data for this synopsis comes from respondents who took the PayScale salary survey.

$44,037 - $92,065
$44K
$59K
$92K
MEDIAN: $59,009
10%
50%
90%

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$0$101K
Salary $44,037 - $92,065
Bonus $2,010 - $19,900
Profit Sharing $4,250
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).
)
$44,505 - $101,861
  • Country: United States
  • Currency: USD
  • Updated: 13 Dec 2017
  • Individuals Reporting: 80

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 Philadelphia, Pennsylvania

Philadelphia County, Pennsylvania
1,567,442
Male:
741,270 (47.3%)
Female:
826,172 (52.7%)
Philadelphia (/ˌfɪləˈdɛlfiə/) is the largest city in the Commonwealth of Pennsylvania and the fifth-most populous in the United States, with an estimated population in 2014 of 1,560,297. In the Northeastern United States, at the confluence of the Delaware and Schuylkill rivers, Philadelphia is the economic and cultural anchor of the Delaware Valley, a metropolitan area home to 7.2 million people and the eighth-largest combined statistical area in the United States. In 1682, William Penn founded the city to serve as capital of the Pennsylvania Colony. Philadelphia played an instrumental role in the American Revolution as a meeting place for the Founding Fathers of the United States, who signed the Declaration of Independence in 1776 and the Constitution in 1787. Philadelphia was one of the nation's capitals in the Revolutionary War, and served as temporary U.S. capital while Washington, D.C., was under construction. In the 19th century, Philadelphia became a major industrial center...
Philadelphia:
$41,233
Pennsylvania:
$55,702
$952
Philadelphia:
$150,700
Pennsylvania:
$170,600
6.6%

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 $52,000 based on 30 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 $85,000 based on 11 salaries. An experienced Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $119,000 based on 7 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 $88,000 based on 6 salaries.

Key Stats for Underwriter

Gender

Female
47 %
Male
53 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 13 votes.
Less than 1 year
7%
1-4 years
49%
5-9 years
23%
10-19 years
15%
20 years or more
6%

Experience Affects Underwriter Salaries

Experienced
▲90%

Late-Career
▲42%

Mid-Career
▲36%

National Average
$62,000

▼17%

Skills That Affect Underwriter Salaries

Financial Analysis
▲21%

Negotiation
▲19%

Loan Underwriting
▲19%

Sales
▲5%

National Average
$62,000

Insurance
▼4%

Microsoft Excel
▼4%

Data Analysis
▼8%

Customer Service
▼8%

Risk Management / Risk Control
▼17%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 13 votes.

Gender

Female
47 %
Male
53 %

Years of Experience

Less than 1 year
7%
1-4 years
49%
5-9 years
23%
10-19 years
15%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 81%
vision benefits
Vision: 72%
no benefits
None: 13%