How much does a Underwriter make in Schaumburg, IL?
A career as an underwriter in Schaumburg, IL offers competitive salary options. The average yearly salary for underwriters in this area is around $100,603. This number can vary based on experience, skills, and specific job roles. Underwriters in Schaumburg can expect to earn a salary that reflects their expertise and the responsibilities they handle.
Underwriters in Schaumburg typically earn between $56,160 and $175,000 per year. This wide range allows for both entry-level positions and more experienced roles. To give a clearer picture, here are some specific salary points for underwriters:
- Entry-level underwriters can expect to earn around $56,160 annually.
- Mid-level underwriters can earn between $88,571 and $120,982 per year.
- Senior underwriters might see salaries upwards of $153,393 annually.
These figures highlight the potential growth and earning power in the underwriting field in Schaumburg, IL.
What are the highest paying cities for a Underwriter near Schaumburg, IL?
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Itasca, IL
Average Salary: $106,271
Working in Itasca, IL, provides a strong environment for financial professionals. Companies like State Farm and Allstate offer stability and growth. Itasca is known for its vibrant community and proximity to major highways.
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Rolling Meadows, IL
Average Salary: $88,684
In Rolling Meadows, IL, job seekers can find promising roles in insurance. Major firms such as Farmers Insurance Group and GEICO provide dynamic opportunities. The area offers a balanced lifestyle with easy access to Chicago.
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Palatine, IL
Average Salary: $67,100
Palatine, IL, is home to several well-known insurance companies. Working here gives access to roles at Liberty Mutual and CNA Financial. The area features good schools and a welcoming community atmosphere.
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Des Plaines, IL
Average Salary: $51,280
Des Plaines, IL, offers a robust job market for those in the insurance sector. Companies like Zurich Insurance and Travelers provide excellent career paths. The city's central location makes it easy to commute to other parts of the Chicago area.
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What are the best paying companies for a Underwriter in Schaumburg, IL?
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Swiss Re
Average Salary: $133,700
Swiss Re offers competitive salaries for Underwriter positions. They are known for their innovative approach to risk management. This global insurance company operates in Schaumburg, IL, and many other locations around the world.
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The Hartford
Average Salary: $123,175
The Hartford provides excellent opportunities for Underwriters. They focus on offering insurance and financial services. This company is well-known and has locations in Schaumburg, IL, and other key areas across the United States.
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Busey
Average Salary: $95,000
Busey Bank offers Underwriters a good salary. They are a strong community bank with a focus on personalized service. This bank has multiple branches in Schaumburg, IL, and the surrounding region.
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Great American Insurance Group
Average Salary: $90,275
Great American Insurance Group is another great option for Underwriters. They specialize in life and health insurance. This company operates in Schaumburg, IL, and provides services to clients in various locations.
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Huntington National Bank
Average Salary: $80,750
Huntington National Bank offers Underwriters a solid salary. They focus on banking and financial services. With branches in Schaumburg, IL, and other key areas, they are a well-established company.
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Roanoke Insurance Group Inc.
Average Salary: $61,167
Roanoke Insurance Group Inc. provides a range of insurance solutions. They offer good salaries for Underwriters. This company operates in Schaumburg, IL, and other parts of the country, focusing on providing insurance services.
What are the best paying Underwriter related jobs in Schaumburg, IL?
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Underwriting Manager
Average Salary: $185,635
This role involves overseeing a team of underwriters. Managers ensure policies meet company standards. They also help set goals and strategies for the underwriting team.
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Actuary
Average Salary: $170,460
Actuaries assess risk and uncertainty for insurance companies. They analyze financial risks and determine premiums. They work closely with underwriters in Schaumburg, IL.
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Quantitative Analyst
Average Salary: $164,350
Quantitative analysts use math and stats to support underwriting. They develop models to predict risk. Companies in Schaumburg, IL, rely on these models for sound decisions.
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Underwriting Consultant
Average Salary: $160,000
Consultants provide expert advice to companies. They review underwriting policies and practices. They help companies in Schaumburg, IL, improve their underwriting strategies.
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Portfolio Manager
Average Salary: $133,479
Portfolio managers oversee investment portfolios for insurance companies. They assess risk and returns. They work with underwriters to align investment strategies with risk management.
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Risk Management Manager
Average Salary: $119,000
Risk management managers oversee strategies to minimize risk. They develop plans to protect company assets. They work with underwriting teams in Schaumburg, IL.
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Business Analyst
Average Salary: $115,487
Business analysts study company operations to improve efficiency. They work with underwriting teams. They gather data to help make better underwriting decisions.
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Financial Advisor
Average Salary: $108,687
Financial advisors help clients manage their investments. They advise on insurance needs. In Schaumburg, IL, they often work with underwriters to tailor insurance solutions.
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Risk Analyst
Average Salary: $101,786
Risk analysts assess potential risks for companies. They gather data and create reports. They support underwriting teams by providing detailed risk assessments.
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Risk Specialist
Average Salary: $93,500
Risk specialists focus on specific areas of risk management. They analyze data and trends. They help underwriters in Schaumburg, IL, understand and manage risks.
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