What is the salary range for insurance underwriters? The average annual salary for an insurance underwriter is about $64,000. The salary range for an insurance underwriter can be anywhere from $32,000 to $85,000 a year. Generally, the larger insurance companies will pay more than their smaller counterparts.
Introduction
Entry Level Insurance Underwriter Salary
$20,000$60,596 /year$108,000
$29 /hour
Entry Level Insurance Underwriter Salary Comparison by Location
Nationwide
United States
$60,596
Lagos, NG
$60,513
How much does an Entry Level Insurance Underwriter make?
As of Jun 21, 2022, the average annual pay for an Entry Level Insurance Underwriter in the United States is $60,596 a year.
Just in case you need a simple salary calculator, that works out to be approximately $29.13 an hour. This is the equivalent of $1,165/week or $5,050/month.
While ZipRecruiter is seeing annual salaries as high as $108,000 and as low as $20,000, the majority of Entry Level Insurance Underwriter salaries currently range between $38,000 (25th percentile) to $77,000 (75th percentile) with top earners (90th percentile) making $100,000 annually across the United States. The average pay range for an Entry Level Insurance Underwriter varies greatly (by as much as $39,000), which suggests there may be many opportunities for advancement and increased pay based on skill level, location and years of experience.
Based on recent job posting activity on ZipRecruiter, the Entry Level Insurance Underwriter job market in both Lagos, NG and throughout the entire state of is not very active as few companies are currently hiring. An Entry Level Insurance Underwriter in your area makes on average $60,513 per year, or $83 (0%) less than the national average annual salary of $60,596. ranks number 1 out of 50 states nationwide for Entry Level Insurance Underwriter salaries.
To estimate the most accurate annual salary range for Entry Level Insurance Underwriter jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America.
Find your next high paying job as an Entry Level Insurance Underwriter on ZipRecruiter today.
What are Top 10 Highest Paying Cities for Entry Level Insurance Underwriter Jobs
We’ve identified 10 cities where the typical salary for an Entry Level Insurance Underwriter job is above the national average. Topping the list is Green River, WY, with Santa Clara, CA and San Francisco, CA close behind in the second and third positions. San Francisco, CA beats the national average by $10,323 (17.0%), and Green River, WY furthers that trend with another $16,602 (27.4%) above the $60,596 average.
With these 10 cities having average salaries higher than the national average, the opportunities for economic advancement by changing locations as an Entry Level Insurance Underwriter appears to be exceedingly fruitful.
Finally, another factor to consider is the average salary for these top ten cities varies very little at 13% between Green River, WY and Bronx, NY, reinforcing the limited potential for much wage advancement. The possibility of a lower cost of living may be the best factor to use when considering location and salary for an Entry Level Insurance Underwriter role.
| City | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| Green River, WY | $77,199 | $6,433 | $1,485 | $37.11 |
| Santa Clara, CA | $72,887 | $6,074 | $1,402 | $35.04 |
| San Francisco, CA | $70,919 | $5,910 | $1,364 | $34.10 |
| Washington, DC | $70,622 | $5,885 | $1,358 | $33.95 |
| Los Angeles, CA | $69,578 | $5,798 | $1,338 | $33.45 |
| Fremont, CA | $69,254 | $5,771 | $1,332 | $33.30 |
| Germantown, MD | $68,040 | $5,670 | $1,308 | $32.71 |
| Bridgeport, CT | $67,842 | $5,653 | $1,305 | $32.62 |
| Marysville, WA | $67,804 | $5,650 | $1,304 | $32.60 |
| Bronx, NY | $67,481 | $5,623 | $1,298 | $32.44 |
What are Top 5 Best Paying Related Entry Level Insurance Underwriter Jobs in the U.S.
We found at least five jobs related to the Entry Level Insurance Underwriter job category that pay more per year than a typical Entry Level Insurance Underwriter salary. Top examples of these roles include: Remote Underwriting Manager, VP Underwriting, and Vice President Underwriting.
Importantly, all of these jobs are paid between $70,583 (116.5%) and $109,820 (181.2%) more than the average Entry Level Insurance Underwriter salary of $60,596. If you’re qualified, getting hired for one of these related Entry Level Insurance Underwriter jobs may help you make more money than that of the average Entry Level Insurance Underwriter position.
| Job Title | Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage |
|---|---|---|---|---|
| Remote Underwriting Manager | $170,416 | $14,201 | $3,277 | $81.93 |
| VP Underwriting | $153,200 | $12,767 | $2,946 | $73.65 |
| Vice President Underwriting | $153,200 | $12,767 | $2,946 | $73.65 |
| Chief Underwriter | $137,394 | $11,450 | $2,642 | $66.05 |
| Portfolio Underwriter | $131,179 | $10,932 | $2,523 | $63.07 |
Conclusion
It is not easy to get a job as an insurance underwriter. Most small to medium sized insurance agencies are located in small towns and large cities, so you must be willing to move for this job. If you are interested in this as a career, then it is best that you find an entry level position within an agency, rather than try to get hired by one’s self. The best way to do this is to contact the largest insurance agencies in your area and ask if they have any openings or know of any other agencies nearby with openings. The American Society of Insurance Underwriters website www.sisu.org should be able to provide you with some information about insurance underwriting occupations and standards, but mostly this will depend on the individual agency you hope to work for.
