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Underwriters meticulously examine information to determine the chance of loss for the company. This could involve reviewing financial statements for a loan application, medical history for health insurance, or a company’s financials for an initial public offering (IPO). The underwriter’s job is to assist businesses in making informed investments.
When picking up a profession as an underwriter, you need to consider the most important factor, which is salary, which is a significant consideration, but it’s not the only one. A reliable professional path with high perks and room for growth can be found in underwriting. It can also give one a sense of work security and intellectual stimulation. Are you interested in learning how much money an underwriter in the US may make? This complete article will serve as your comprehensive resource for learning about typical US underwriter salaries.
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What is the Average underwriter’s Salary in US
The salary range for underwriters in the US is quite broad. While the average annual salary sits at 78,100 USD, translating to a monthly average of 10,675 USD, it’s important to consider the significant variation. Entry-level positions might start as low as 9,780 USD annually (3,481 USD monthly), while experienced underwriters can reach salaries exceeding 47,020 USD per year (21,418 USD monthly). This highlights the significant impact of experience on earning potential in this field.
To help you understand more about this career, we’ve included the following resources: The advice and editorial content on this page are derived from Indeed’s research, but the wage and growth statistics are from recently released Bureau of Labor Statistics data.
Experience Wise Underwriters Salary in US
In order to have sufficient knowledge and effectively manage their work with a competitive salary range, underwriters typically need to first concentrate on one area. The pay range for underwriters based on experience level is shown here.
| Experience Level | Average Salary Per Year |
| 0-2 Years | USD 16,700 |
| 2-5 Years | USD 18,000 |
| 5-10 Years | USD 24,600 |
| 10-15 Years | USD 28,900 |
| 15-20 Years | USD 32,500 |
| 20+ Years | USD 38,000 |
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Education Wise Underwriter Salary in US
To improve their competitive pay in the US, many underwriters seek professional qualifications in addition to the necessary schooling. The underwriter compensation range by educational level is shown here.
| Education | Average Salary Per Year |
| High School | USD 10,520 |
| Certificate or Diploma | USD 30,140 |
| Bachelor’s Degree | USD 50,900 |
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Organisation-Wise Underwriter Salary in US
High compensation packages are offered by a number of elite underwriting organisations in the US. A selection of the top US companies with comparable underwriter pay information has been provided.
| Organization | Average Salary Per Year |
| United Wholesale Mortgage (UWM) | USD 77,908 |
| Chubb | USD 105,197 |
| State Farm | USD 75,549 |
| AIG | USD 91,161 |
| Travelers | USD 96,749 |
| Auto-Owners Insurance | USD 85,434 |
| Wells Fargo | USD 84,512 |
| The Hartford | USD 92,441 |
| Liberty Mutual Insurance | USD 97,170 |
| Zurich North America | USD 94,729 |
| The Cigna Group | USD 78,177 |
| Nationwide | USD 81,789 |
| USLI | USD 91,729 |
| Rocket Companies | USD 102,733 |
| GEICO | USD 83,110 |
| JPMorgan Chase & Co | USD 95,743 |
| Burns & Wilcox | USD 89,671 |
| Philadelphia Insurance Companies | USD 87,487 |
| Markel | USD 97,734 |
City Wise Underwriters Salary in US
The breakdown of the average yearly compensation for underwriters in the highest-paying American cities is shown in the attached table.
| Cities | Average Salary Per Year |
| New York, NY | USD 88,000 |
| Chicago | USD 80,000 |
| San Francisco | USD 90,000 |
| Seattle | USD 80,000 |
| Phoenix | USD 72,090 |
| Boston, | USD 82,000 |
Position-Wise Underwriter’s Salary in US
If you’re wondering how to become an underwriter, you should be aware of the abilities that are unquestionably necessary to investigate several work options as an insurer. The pay range for underwriters according to experience level is as follows.
| Positions | Average Salary Per Year |
| Insurance Underwriter | 80,341 USD |
| Mortgage Underwriter | 75,652 USD |
| Broker | 79,391 USD |
| Entry Level Underwriter | 56,979 USD |
| Underwriting Manager | 113,327 USD |
| Credit Analyst | 69,815 USD |
| Insurance Underwriting | 88,492 USD |
| Claims | 65,424 USD |
| Underwriting Assistant | 61,744 USD |
| Mortgage Underwriter | 81,962 USD |
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FAQs
In the United States, an underwriter’s annual total compensation is predicted to be 112,879 USD, with an average salary of 89,306 USD a year. These figures referred to as the median, represent the midpoint of the ranges from our special Total Pay Estimate model, which is based on wages collected from our users.
Underwriters frequently work under pressure to make key choices with little time to spare. They are responsible for evaluating insurance risks and deciding on policy conditions. Long hours and a lifestyle focused on work might be influenced by these factors, particularly during busy times like policy reviews and renewals.
While a master’s degree can advance competence, a bachelor’s degree in business, finance, or a similar discipline provides a strong foundation. To meet the requirements, applicants to respectable schools may need to take entrance examinations like the CAT, MAT, or XAT.
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