How much does a Underwriter make?
Underwriters play an important role in the insurance and finance industries. They assess risks and decide if a person or business should be insured. This job requires careful analysis and attention to detail. The average yearly salary for an underwriter is $93,247. This varies based on experience and the industry they work in.
The salary for underwriters can range from lower to higher amounts. The lowest-paid underwriters earn around $40,000. Those with the most experience can earn up to $213,000 a year. Here are some typical earnings for underwriters:
- $40,000 for the lowest 10%
- $55,727 for the 20th percentile
- $71,455 for the median, or the middle of the range
- $87,182 for the 80th percentile
- $102,909 for the 90th percentile
- $118,636 for the 95th percentile
- $134,364 for the 98th percentile
- $150,091 for the 99th percentile
- $165,818 for the 99.5th percentile
- $181,545 for the 99.9th percentile
- $197,273 for the absolute highest earners
- $213,000 for the very top earners
What are the highest paying cities for a Underwriter?

-
Stamford, CT
Average Salary: $140,694
Stamford is home to many insurance giants. It's a great place to work as a specialist in evaluating risk. Companies like The Hartford and Travelers offer excellent opportunities.
Find Underwriter jobs in Stamford, CT
-
Boston, MA
Average Salary: $120,843
Boston offers a dynamic job market for insurance specialists. Proximity to top universities means constant learning and networking. Work with companies like Liberty Mutual.
Find Underwriter jobs in Boston, MA
-
San Francisco, CA
Average Salary: $115,223
In San Francisco, underwriting roles are in high demand due to the tech boom. Companies like Allstate and Transamerica provide cutting-edge opportunities.
Find Underwriter jobs in San Francisco, CA
-
Chicago, IL
Average Salary: $113,206
Chicago is a hub for insurance firms. It’s an excellent city for those looking to grow in their careers. Major employers include Allstate and CNA Financial.
Find Underwriter jobs in Chicago, IL
-
Philadelphia, PA
Average Salary: $111,033
Philadelphia has a rich history in insurance. Working here offers a blend of tradition and innovation. Key companies include Penn Mutual and Jefferson Health Plans.
Find Underwriter jobs in Philadelphia, PA
-
Kansas City, MO
Average Salary: $109,702
Kansas City offers a stable environment for insurance professionals. Companies like Shelter and Liberty Mutual are prominent employers.
Find Underwriter jobs in Kansas City, MO
-
Washington, DC
Average Salary: $109,322
Washington, DC, is perfect for those interested in government-linked roles. Agencies like FEMA offer unique opportunities.
Find Underwriter jobs in Washington, DC
-
Cincinnati, OH
Average Salary: $107,880
Cincinnati has a strong insurance sector. It's a great place to develop your skills. Companies like Nationwide and Cincinnati Insurance are leaders in the field.
Find Underwriter jobs in Cincinnati, OH
-
Charlotte, NC
Average Salary: $107,708
Charlotte offers a blend of urban and suburban lifestyles. It’s home to big banks and insurance companies like Bank of America Merrill Lynch.
Find Underwriter jobs in Charlotte, NC
-
Atlanta, GA
Average Salary: $107,511
Atlanta is growing rapidly in the insurance sector. It’s a great place for professionals to expand their horizons. Employers like SunTrust Bank are prominent.
Find Underwriter jobs in Atlanta, GA
What are the best companies a Underwriter can work for?

-
GEICO
Average Salary: $217,556
GEICO offers exciting opportunities for Underwriters to help manage risk by evaluating insurance applications. They operate across the United States, making it easier for candidates to find positions in various locations.
-
PGIM
Average Salary: $177,955
PGIM values its Underwriters for their ability to analyze financial risks. The company has offices in many major cities in the U.S., providing ample job opportunities.
-
Munich Re
Average Salary: $160,131
Munich Re is a top choice for Underwriters who want to work with a global leader in reinsurance. With operations in several countries, they offer diverse career paths for risk assessment and evaluation.
-
Swiss Re
Average Salary: $157,472
Swiss Re is known for its innovative approach to risk management. Underwriters at Swiss Re work in various locations worldwide, contributing to the company's mission of making the world more resilient.
-
QBE
Average Salary: $155,148
QBE offers Underwriters the chance to work in a dynamic environment focused on providing insurance solutions. They operate in multiple countries, offering global career opportunities.
-
Citi
Average Salary: $154,524
Citi provides Underwriters with a unique blend of financial services and risk management. With a presence in numerous countries, Citi offers diverse roles and international experience.
-
HDI Global Insurance Company
Average Salary: $153,846
HDI Global Insurance Company values the expertise of Underwriters in assessing and managing risks. They have offices in many locations, offering various opportunities for career growth.
-
General Placement Service
Average Salary: $153,387
General Placement Service is a leader in insurance placement and risk management. Underwriters here work in multiple locations, providing a chance to impact the insurance industry significantly.
-
Fannie Mae
Average Salary: $151,712
Fannie Mae offers Underwriters the chance to play a key role in the mortgage industry. They have offices across the U.S., providing numerous opportunities for those looking to specialize in mortgage risk assessment.
-
Wells Fargo
Average Salary: $145,618
Wells Fargo provides a solid platform for Underwriters to manage financial risks. With a presence in many U.S. cities, they offer a variety of roles in risk assessment and insurance.
How to earn more as a Underwriter?
Earning more as an Underwriter requires dedication and smart career moves. Increasing your income in this field often depends on several key factors. Focusing on these areas can lead to higher earnings and more job satisfaction.
First, gaining more experience can help Underwriters earn more. The more you work in the field, the more knowledgeable you become. Experienced Underwriters often understand the market better. This knowledge can help them make smarter decisions. Companies value this experience and often offer higher pay for it. Gaining certifications can also boost your income. Certifications show your skills and dedication to the job. They can make you a more attractive candidate to employers. Continuing education in this field is important for long-term success.
Another way to increase earnings is by specializing in a niche. Underwriters who focus on areas like health, life, or property insurance often have more opportunities for higher pay. Specializing allows Underwriters to become experts in their chosen field. This expertise can lead to better job offers and promotions. Networking with other professionals in your niche can also open doors to higher-paying jobs.
- Gain experience: The more you work, the more you learn.
- Get certifications: These show your skills and dedication.
- Specialize in a niche: Focus on areas like health or property insurance.
- Network: Connect with other professionals in your field.
- Continue education: Stay updated with the latest trends and skills.



