Position
Salary
Underwriters play a key role in the insurance industry. They assess the risk of insuring people, businesses, and properties. This job is important and comes with a good salary. The average yearly salary for an underwriter is $92,744. This means that most underwriters earn between $40,000 and $102,727 each year.
The salary can vary based on experience and location. Those who have been in the field longer often earn more. Underwriters in big cities or areas with a high cost of living may also see higher pay. The top earners in this field can make up to $212,500 a year. This shows that with time and experience, underwriters can earn a very good living.
Stamford, CT
Average Salary: $135,885
In Stamford, professionals assess risks and make decisions for insurance companies. Major firms like Travelers and The Hartford offer many opportunities. The city offers a mix of urban and suburban living.
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Boston, MA
Average Salary: $126,340
Boston provides a dynamic environment for those in the insurance field. Companies like Liberty Mutual and State Street are prominent. The city's rich history and vibrant culture add to the work experience.
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Chicago, IL
Average Salary: $114,785
Chicago is a hub for insurance underwriters. Allstate and CNA Financial are key players. The city's diverse culture and strong economy make it an attractive place to work.
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Kansas City, MO
Average Salary: $112,404
Kansas City offers a balanced lifestyle for underwriters. Companies like American Century and Shelter Insurance are well-known. The city's affordable cost of living and friendly community are big pluses.
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Philadelphia, PA
Average Salary: $111,363
Philadelphia is a historic city with many insurance opportunities. Firms like Independence Blue Cross and Cigna are major employers. The city's rich culture and good schools make it appealing.
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Atlanta, GA
Average Salary: $110,509
Atlanta is a growing city with many insurance jobs. Companies like Aflac and SunTrust Bank are leaders. The city's warm weather and expanding economy attract many professionals.
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Charlotte, NC
Average Salary: $109,519
Charlotte offers a strong job market for underwriters. Bank of America and MetLife are major employers. The city's growing tech scene and affordable living make it a great choice.
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Baltimore, MD
Average Salary: $109,510
Baltimore provides a unique blend of urban and historic charm. Firms like Legg Mason and T. Rowe Price offer many opportunities. The city's vibrant arts scene and lower cost of living are big draws.
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San Francisco, CA
Average Salary: $109,172
San Francisco is a tech-driven city with many insurance jobs. Companies like Allstate and Travelers are prominent. The city's innovative culture and scenic views make it an exciting place to work.
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Pittsburgh, PA
Average Salary: $107,331
Pittsburgh offers a mix of industry and culture. Companies like Highmark and UPMC are major employers. The city's affordable living and strong community make it a good place for professionals.
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Citi
Average Salary: $184,439
Citi offers exciting Underwriter roles across the globe. They focus on risk management and provide opportunities in major financial hubs like New York, London, and Hong Kong.
Munich Re
Average Salary: $176,693
Munich Re is a global leader in reinsurance. They offer Underwriter positions in various locations, including Munich, New York, and Singapore.
Resilience
Average Salary: $166,500
Resilience provides innovative risk management solutions. They have Underwriter roles in cities like New York, London, and Sydney.
Fannie Mae
Average Salary: $165,682
Fannie Mae offers Underwriter jobs with a focus on mortgage risk. They operate in major cities such as Washington, D.C., and New York.
Argo Group
Average Salary: $151,684
Argo Group provides specialty insurance and reinsurance. They offer Underwriter positions in locations like New York, London, and Bermuda.
QBE
Average Salary: $150,814
QBE is a global insurance company with Underwriter roles in cities like Sydney, London, and New York.
Wells Fargo
Average Salary: $143,152
Wells Fargo offers Underwriter positions with a focus on financial risk. They operate in major cities like San Francisco, New York, and Charlotte.
Swiss Re
Average Salary: $140,056
Swiss Re is a global leader in reinsurance. They offer Underwriter roles in locations like Zurich, London, and Singapore.
Liberty Mutual Insurance
Average Salary: $134,110
Liberty Mutual Insurance offers Underwriter roles with a focus on property and casualty insurance. They operate in major cities like Boston, New York, and Toronto.
General Placement Service
Average Salary: $129,583
General Placement Service provides Underwriter roles with a focus on niche markets. They operate in cities like New York and London.
To earn more as an Underwriter, focus on gaining experience and enhancing skills. Building a strong portfolio of successful assessments and evaluations can lead to higher-paying positions. Networking with industry professionals opens doors to better opportunities and insights into the market.
Consider pursuing certifications that are recognized in the underwriting industry. These credentials can demonstrate expertise and dedication to the field. Staying updated with industry trends and regulations ensures that an Underwriter remains competitive and knowledgeable.
Seeking roles in high-demand areas or specialized niches can also increase earning potential. These sectors often offer higher salaries due to the complexity and risk involved. Continuously improving analytical and decision-making skills will make an Underwriter more valuable to employers.