Entry-Level Underwriter Salary

Median pay for Entry-Level Underwriters is around $52K per year. In the world of Entry-Level Underwriters, overall cash allowance can occasionally include more than $10K from bonuses and, in some exceptional cases, $6K from profit sharing, causing incomes to vary widely between $36K and $76K. The specific employer and the particular city each impact pay for this group, with the former having the largest influence. Men working as Entry-Level Underwriters who took the survey just slightly outnumber women at 52 percent. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.

$38,588 - $74,379
$39K
$52K
$74K
MEDIAN: $52,275
10%
50%
90%

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$13.43 - $25.13
$13
$19
$25
MEDIAN: $18.82
10%
50%
90%

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$0$77K
Salary $38,588 - $74,379
Bonus $943 - $10,149
Profit Sharing $103.04 - $6,035
Commission $1,007 - $12,913
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).
)
$36,939 - $77,258
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 1,245
Hourly Data $0$44
Hourly Rate $13.43 - $25.13
Hourly Tips $2.00
Overtime $20.22 - $44.81
Annual Data $0$77K
Bonus $943 - $10,149
Commission $1,007 - $12,913
Profit Sharing $103.04 - $6,035
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).
)
$36,939 - $77,258
  • Country: United States
  • Currency: USD
  • Updated: 20 Sep 2017
  • Individuals Reporting: 233

Underwriter Job Listings

Popular Employer Salaries for Underwriter


J.P. Morgan Chase & Co. (JPMCC), Aetna, Inc., The Travelers Companies, Inc., State Farm Insurance Company, and The Chubb Corporation are top-notch employers for Entry-Level Underwriters in this area. Although Liberty Mutual Insurance Group heads up the field in terms of compensation, offering the highest median salary at $70K, pay at this particular employer still varies considerably, running the full spectrum from $58K to $104K. Those in search of high salaries should also consider The Hartford Financial Services Group, Inc., Zurich North America, and The Travelers Companies, Inc., top-paying firms where Entry-Level Underwriters rake in a comfortable $67K, $65K, or $65K, respectively.

The lowest salaries can be found at State Farm Insurance Company — median pay is $42K — and there is little variation in compensation, with paychecks starting at $35K and only reaching $53K. A few other companies with smaller-than-average paychecks include Wells Fargo Bank ($50K), ACE Group ($51K), and J.P. Morgan Chase & Co. (JPMCC) ($51K).

Pay Difference by Location

National Average: $52,477

Larger city markers indicate a job is popular in that location.

New York offers some of the highest pay in the country for Entry-Level Underwriters, 32 percent above the national average. Entry-Level Underwriters will also find cushy salaries in San Francisco (+31 percent), Los Angeles (+27 percent), Boston (+24 percent), and Chicago (+20 percent). Omaha ranks last in the field for pay, reporting salaries 17 percent below the national average. Employers also pay below the national average in Jacksonville (12 percent lower) and Columbus (11 percent lower).

Underwriter Advice

Q: What do you wish you knew about your job when you first started out?

Underwriter in Long Beach:
"Raises."
Go work elsewhere.

Underwriter in Poughkeepsie:
"Never a dull moment."
Multi tasking, flexibility, and long hours. If you love math, and reasoning, this job is for you.

Underwriter in Poughkeepsie:
"Extremely fast paced, high stress, must be able to multi tas."
You must be flexible and smart. Multi tasking is part of the job.

Key Stats for Underwriter

Gender

Female
48 %
Male
52 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 238 votes.
Less than 1 year
13%
1-4 years
72%
5-9 years
15%
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Skills That Affect Underwriter Salaries

Financial Modeling
▲14%

Commercial Loans
▲11%

▲9%


▲4%

Mortgage Loans
▲4%

Underwriting
▲4%

▲1%


National Average
$52,000





Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 238 votes.

Gender

Female
48 %
Male
52 %

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 80%
vision benefits
Vision: 71%
no benefits
None: 11%
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