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Average Entry-Level Underwriter Salary

$49,530
Avg. SalaryShow Hourly Rate
$2,570
Bonus
$8,250
Commission
$1,350
Profit Sharing
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The average salary for an Entry-Level Underwriter is $49,530.
10%
$38k
MEDIAN
$50k
90%
$64k
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Salary
$38k - $64k
Bonus
$480 - $7k
Profit Sharing
$258 - $7k
Commission
$0 - $8k
Total Pay
$35k - $64k
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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.
The top respondents for the job title Underwriter are from the companies Aetna, Inc., Cigna Corporation and Auto-Owners Insurance Company. Reported salaries are highest at Cigna Corporation where the average pay is $53,158. Other companies that offer high salaries for this role include The Chubb Corporation, earning around $50,000. State Farm Insurance Company pays the lowest at around $39,138. Auto-Owners Insurance Company also pays on the lower end of the scale, paying $44,709.

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 Insurance, Risk Management / Risk Control, Data Analysis and Loan Underwriting are correlated to pay that is above average. Skills that pay less than market rate include Customer Service.

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 $55,814 based on 1,536 salaries. A mid-career Underwriter with 5-9 years of experience earns an average total compensation of $63,614 based on 768 salaries. An experienced Underwriter with 10-19 years of experience earns an average total compensation of $67,596 based on 575 salaries. In their late career (20 years and higher), employees earn an average total compensation of $71,720.
Employees with Underwriter in their job title in San Francisco, California earn an average of 35.1% more than the national average. These job titles also find higher than average salaries in New York, New York (22.5% more) and Hartford, Connecticut (3.8% more). The lowest salaries can be found in Columbus, Ohio (8.5% less), Atlanta, Georgia (6.7% less) and Dallas, Texas (1.1% less).

Years of Experience

This data is based on 3,183 survey responses.
Early Career
48.3%
Mid Career
24.1%
Experienced
18.1%
Late Career
9.6%