How much does a Underwriting Assistant make?
An Underwriting Assistant plays a key role in the insurance and finance sectors. They help assess risks and determine the terms of insurance policies. The average yearly salary for this role is around $56,269. This figure can vary based on experience, location, and the specific company.
The salary range for Underwriting Assistants can be quite broad. At the lower end, some assistants earn around $36,000 per year. As they gain more experience, salaries can rise to over $86,000 annually. This range shows that there are good opportunities for growth in this field. Many assistants find that with additional training and certifications, they can move up to higher-paying positions.
What are the highest paying cities for a Underwriting Assistant?
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Los Angeles, CA
Average Salary: $99,849
In Los Angeles, you can find many opportunities in the insurance sector. Companies like Farmers Insurance and Anthem Blue Cross offer roles that involve analyzing risk and supporting underwriters. The city's diverse economy provides a dynamic environment for growth.
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Chicago, IL
Average Salary: $82,752
Chicago is home to major insurance firms such as Allstate and Aon. Working here means you'll be part of a bustling financial hub. You'll assist in evaluating insurance applications and ensuring policies meet company standards.
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Hartford, CT
Average Salary: $64,802
Hartford, known as the insurance capital, offers many jobs in this field. Companies like The Hartford and Aetna provide excellent opportunities. You'll be involved in reviewing applications and supporting the underwriting process.
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Atlanta, GA
Average Salary: $63,472
Atlanta has a growing insurance market with companies like Aflac and SunTrust. Working here means you'll be part of a vibrant industry. You'll help assess risks and support the underwriting team in making informed decisions.
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Boston, MA
Average Salary: $59,743
Boston offers a mix of traditional and modern insurance companies. Firms like Liberty Mutual and MassMutual offer roles that involve analyzing data and supporting underwriters. The city's rich history adds to its dynamic work environment.
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Miami, FL
Average Salary: $55,178
Miami's insurance sector is vibrant and diverse. Companies like State Farm and Allstate provide opportunities. You'll assist in evaluating risks and supporting the underwriting process in a lively and growing market.
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San Diego, CA
Average Salary: $53,445
San Diego has a strong insurance industry with companies like Farmers Insurance and Blue Shield. Working here means you'll be part of a supportive environment. You'll help assess risks and support the underwriting team.
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Denver, CO
Average Salary: $52,593
Denver offers a mix of traditional and modern insurance companies. Firms like Denver-based New York Life provide roles that involve analyzing data and supporting underwriters. The city's outdoor lifestyle adds to its appeal.
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Omaha, NE
Average Salary: $43,924
Omaha is known for its insurance companies like Berkshire Hathaway. Working here means you'll be part of a prestigious industry. You'll assist in evaluating risks and supporting the underwriting process in a stable and growing market.
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What are the best companies a Underwriting Assistant can work for?
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AXA XL
Average Salary: $91,762
AXA XL offers competitive salaries for Underwriting Assistants. They provide opportunities in various locations, including Paris, London, and New York. AXA XL focuses on providing insurance and reinsurance services globally.
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AXA
Average Salary: $86,957
AXA offers a solid salary for Underwriting Assistants. They have offices in major cities like Paris, New York, and Sydney. AXA is a global leader in insurance and asset management.
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USLI
Average Salary: $64,722
USLI provides a good salary for Underwriting Assistants. They operate in several locations, including New York and Chicago. USLI specializes in life and health insurance.
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Chubb Insurance
Average Salary: $59,404
Chubb Insurance offers a competitive salary for Underwriting Assistants. They have offices in major cities like Zurich and New York. Chubb is known for its comprehensive insurance services.
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Berkley
Average Salary: $58,464
Berkley offers a solid salary for Underwriting Assistants. They have offices in New York and London. Berkley specializes in property and casualty insurance.
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Liberty Mutual Insurance
Average Salary: $57,640
Liberty Mutual Insurance offers a good salary for Underwriting Assistants. They have offices in Boston and Toronto. Liberty Mutual is a leading provider of auto and home insurance.
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Crum & Forster
Average Salary: $54,577
Crum & Forster offers a competitive salary for Underwriting Assistants. They operate in major cities like New York and Chicago. Crum & Forster specializes in commercial insurance.
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Brown & Brown Insurance
Average Salary: $54,113
Brown & Brown Insurance offers a good salary for Underwriting Assistants. They have offices in many locations, including Atlanta and Miami. Brown & Brown is a leading insurance agency.
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RLI
Average Salary: $53,569
RLI offers a competitive salary for Underwriting Assistants. They have offices in Chicago and New York. RLI specializes in insurance for small businesses.
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TEKsystems
Average Salary: $53,368
TEKsystems offers a good salary for Underwriting Assistants. They have offices in major cities like Atlanta and San Francisco. TEKsystems is a leading provider of IT and financial services.
How to earn more as a Underwriting Assistant?
Becoming an Underwriting Assistant can lead to a rewarding career. To earn more in this role, focus on key areas that can boost your salary and job satisfaction. Gaining experience and expertise in underwriting can open up higher-paying positions. Networking with industry professionals can lead to better job opportunities. Continuing education and certifications can also enhance your skills and marketability. Staying updated with industry trends and regulations ensures you remain competitive. Seeking out mentorship from experienced underwriters can provide valuable insights and career advice.
Here are five factors to consider for earning more as an Underwriting Assistant:
- Experience: Gaining more experience can lead to higher-paying positions. Working in different areas of underwriting can broaden your skill set.
- Certifications: Earning relevant certifications can make you more valuable. Certifications show your commitment to the field and your expertise.
- Networking: Building connections with industry professionals can lead to job opportunities. Attend industry events and join professional organizations to expand your network.
- Continuing Education: Taking courses and attending workshops can keep your skills sharp. Staying updated with the latest trends and regulations is crucial for career growth.
- Mentorship: Finding a mentor can provide guidance and support. Learning from experienced underwriters can help you navigate your career more effectively.
