How much does a Underwriter make in Chicago, IL?
In Chicago, IL, Underwriters can expect to earn a competitive salary. The average yearly salary for Underwriters in this area is around $111,444. This salary can vary based on experience and skill level. For instance, entry-level Underwriters might start at around $48,000 per year, while experienced professionals can earn up to $211,852 annually.
The salary range for Underwriters in Chicago, IL, shows a wide variation. The lower end of the range, about 10%, earns around $48,000 per year. A larger segment, about 14%, earns between $77,791 and $92,687. As experience and expertise increase, so do earnings, with the top 10% earning between $167,165 and $211,852 annually. These figures reflect the opportunities for growth in this field, encouraging job seekers to build their skills and advance in their careers.
What are the highest paying cities for a Underwriter near Chicago, IL?

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Schaumburg, IL
Average Salary: $100,660
In Schaumburg, one can find numerous insurance firms seeking skilled professionals. Companies like Allstate and State Farm offer promising roles. Candidates benefit from a vibrant job market with many opportunities for growth.
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Naperville, IL
Average Salary: $84,508
Naperville provides a thriving environment for those in the insurance industry. With firms such as Farmers Insurance, job seekers have access to quality positions. The city offers a strong network of professionals, aiding career advancement.
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Joliet, IL
Average Salary: $59,000
Joliet's insurance sector is well-established, with companies like Liberty Mutual hiring frequently. The community fosters a collaborative atmosphere, making it an excellent place to build a career. Opportunities for training and development abound.
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Elgin, IL
Average Salary: $57,500
Elgin offers a robust market for insurance professionals. Companies such as GEICO and Nationwide provide ample job openings. The area emphasizes professional growth, offering numerous paths for advancement.
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What are the best paying companies for a Underwriter in Chicago, IL?

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QBE
Average Salary: $185,200
QBE is a global insurance company with operations in many parts of the world, including Chicago. As an Underwriter for QBE, you would evaluate insurance applications and risk assessments. QBE values experienced Underwriters who can make informed decisions.
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Munich Re
Average Salary: $161,863
Munich Re, with headquarters in Germany and a strong presence in Chicago, offers Underwriter roles with a global perspective. Here, Underwriters analyze and manage risks for various types of insurance, including property and casualty.
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Swiss Re
Average Salary: $157,000
Swiss Re, based in Switzerland with offices in Chicago, seeks skilled Underwriters. Employees here assess risks for different insurance products, working closely with clients to provide tailored coverage solutions.
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Liberty Mutual Insurance
Average Salary: $145,408
Liberty Mutual Insurance, a leading provider in Chicago, offers Underwriters roles focused on personal and commercial lines. Underwriters here evaluate insurance applications and develop underwriting strategies.
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IFG Companies
Average Salary: $145,000
IFG Companies, based in Chicago, provides opportunities for Underwriters in specialty insurance. Here, you would work on assessing risks and designing coverage plans for unique insurance needs.
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Berkshire Hathaway Specialty Insurance
Average Salary: $141,818
Berkshire Hathaway Specialty Insurance, with its Chicago location, offers Underwriters roles in niche insurance sectors. Here, you would evaluate risks and craft customized insurance solutions.
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HDI Global Insurance Company
Average Salary: $141,250
HDI Global Insurance Company, operating in Chicago, seeks Underwriters who can assess risks for various types of insurance. Employees here collaborate with clients to provide comprehensive insurance coverage.
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Wells Fargo
Average Salary: $135,638
Wells Fargo, a major financial institution with offices in Chicago, offers Underwriter roles focused on property and casualty insurance. Here, Underwriters work to evaluate risks and design insurance policies.
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Argo Group
Average Salary: $134,675
Argo Group, based in Chicago, provides opportunities for Underwriters in specialty insurance. Employees here evaluate risks and develop insurance coverage plans for unique needs.
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General Placement Service
Average Salary: $132,500
General Placement Service, located in Chicago, offers Underwriter roles in various insurance sectors. Here, you would assess risks and create coverage solutions for clients.
What are the best paying Underwriter related jobs in Chicago, IL?

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Chief Risk Officer
Average Salary: $220,984
This position focuses on identifying and managing potential risks for a company. Chief Risk Officers work closely with executives to ensure that strategies are in place to mitigate financial and operational risks. In Chicago, this role is often seen in major financial institutions and corporations.
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Risk Management Director
Average Salary: $208,122
A director in this field oversees the risk management department. This includes developing policies and procedures to protect an organization from loss. In Chicago, firms like banks and insurance companies frequently seek candidates with strong leadership and analytical skills.
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Underwriting Manager
Average Salary: $169,928
Underwriting managers oversee the underwriting process. They ensure that policies are priced correctly and that the company is not taking on undue risk. This role involves working with underwriters and analyzing market trends. It is commonly found in insurance companies across the city.
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Estate Planner
Average Salary: $159,160
Estate planners help individuals manage their assets. They work with clients to create plans that protect and transfer wealth. This role requires a strong understanding of tax laws and financial planning. Many firms in Chicago value these skills in estate planners.
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Investment Banker
Average Salary: $156,345
Investment bankers assist companies in raising capital. They may work on mergers, acquisitions, or issuing securities. This role is dynamic and often found in major financial hubs like Chicago. Investment bankers need to be skilled in financial analysis and negotiation.
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Actuary
Average Salary: $154,888
Actuaries analyze the financial costs of risk and uncertainty. They use mathematics, statistics, and financial theory to assess risk. Companies in the insurance and finance sectors in Chicago frequently seek actuaries to help manage their risk exposure.
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Certified Financial Planner
Average Salary: $152,258
Certified Financial Planners help clients achieve their financial goals. They provide advice on investments, retirement, and estate planning. This role requires strong communication skills and a deep understanding of financial products. Many firms in Chicago value these professionals.
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Risk Management Manager
Average Salary: $147,391
Risk management managers develop and implement risk management strategies. They work to minimize potential losses for their organizations. This role is crucial in industries such as finance and insurance in Chicago. Strong analytical skills are essential.
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Portfolio Manager
Average Salary: $139,859
Portfolio managers oversee investment portfolios. They make decisions on asset allocation and investment strategies. This role involves working with clients to meet their financial objectives. Many investment firms in Chicago value experienced portfolio managers.
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Wealth Management Advisor
Average Salary: $133,471
Wealth management advisors provide financial advice to high-net-worth individuals. They help clients manage their wealth and plan for the future. This role requires strong interpersonal skills and a deep understanding of financial products. Many firms in Chicago seek these advisors.
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