Underwriting Specialist Salary
The average Underwriting Specialist in the United States can expect to rake in roughly $73K annually. Career duration is the biggest factor affecting pay for this group, followed by geography. The majority of Underwriting Specialists claim high levels of job satisfaction. More than half of Underwriting Specialists (63 percent) survey participants are women. Medical benefits are awarded to nearly all, and almost all earn dental coverage.
|Salary||$37,693 - $112,233|
|Bonus||$750 - $22,125|
|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).)
|$34,776 - $119,811|
|Hourly Rate||$13.09 - $24.61|
|Bonus||$750 - $22,125|
|Total Pay (||$34,776 - $119,811|
Job Description for Underwriting Specialist
Underwriting specialists must have excellent problem-solving skills, as they are responsible for evaluating risks and profitability of particular clients' cases. These specialists make the final decisions of whether to approve or deny a client's expense, so excellent written and verbal communication skills are also important for this position.Read More...
Underwriting specialists must be able to work on a high volume of cases, and some may occasionally be required to travel in order to manage cases for several offices. Those in this position must constantly research and stay up-to-date with all changes within the insurance field and relevant government policies, as well.
A bachelor's degree in finance or a related field is generally required for this position, and most employers prefer candidates who have master's degrees and knowledge of tax law. Certifications are also available for this position, though they are not mandatory. (Copyright 2017 PayScale.com)
Underwriting Specialist Tasks
- Manage and grow assigned portfolio.
- Develop relationships with current and new clients.
- Conduct and write up account reviews.
- Evaluate case risk and profitability.
Underwriting Specialist Job Listings
Pay by Experience Level for Underwriting Specialist
Pay by Experience for an Underwriting Specialist has a positive trend. An entry-level Underwriting Specialist with less than 5 years of experience can expect to earn an average total compensation of $48,000 based on 37 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. An Underwriting Specialist with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $60,000 based on 24 salaries. An experienced Underwriting Specialist which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $86,000 based on 21 salaries. An Underwriting Specialist with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $111,000 based on 9 salaries.
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