The average salary for an underwriter is $86,000 per year. Though revenues continue to rise, recruiting and retaining qualified professionals remains a challenge.
Average salary for underwriters is $68,000 a year. They earn an average of $34.15 per hour, or $16.30 if they work in the field.
Average salary for underwriter
If you’re looking for a new job in New York City or the surrounding areas, you may want to consider applying at an insurance company. The average underwriter salary can reach up to $115K per year, and that’s not even the best paying occupation in this industry. For a more detailed breakdown of the high-paying positions, check out our breakdown of financial service occupations.
The salary of an underwriter ranges from $35,879 to $130,513 yearly. The salary is determined by the agency or company to which the underwriter is contracted.
The salary of an underwriter depends on many things, such as regional location, size of the firm they work for and their level of experience. Underwriters who live in large cities are more likely to earn higher salaries due to the demand and competition. If a candidate is just starting out in this field, it is unlikely that he or she will be making over $75k annually. However, if he or she works for a reputable company and has solid experience, chances are his or her salary will grow over time if he or she continues on this path.
Underwriters are responsible for researching and submitting insurance proposals on behalf of clients. Underwriters may specialize in certain types of risks, such as life, property, or general insurance, or may offer the whole spectrum of coverage. Underwriters can also choose to specialize in a particular field, such as commercial or life insurance.
An underwriter is a practitioner or firm that assesses a risk and decides whether coverage should be issued.