How much does a Underwriting Manager make?
An Underwriting Manager plays a key role in the insurance industry. They assess risks and decide which policies to offer. This job often comes with a good salary. The average yearly salary for an Underwriting Manager is around $140,655. This means that many people in this role earn a comfortable income.
The salary for Underwriting Managers can vary based on experience and location. Some managers earn less than the average, while others earn much more. For example, the lowest 10% of earners make about $58,300 a year. On the other hand, the top 10% earn over $225,000 annually. This wide range shows that there are opportunities for growth and higher earnings with experience and skill.
What are the highest paying cities for a Underwriting Manager?

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San Francisco, CA
Average Salary: $180,701
In San Francisco, professionals lead teams that assess risk for insurance policies. The tech-driven environment offers many opportunities for growth. Companies like Goldman Sachs and Salesforce provide competitive benefits.
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Los Angeles, CA
Average Salary: $172,711
Los Angeles offers a dynamic market for underwriting. The city's diverse industries create unique challenges. Firms like State Farm and Allstate are prominent employers.
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Boston, MA
Average Salary: $170,856
Boston's underwriting scene is rich with history and innovation. The city's strong financial sector offers many job opportunities. Companies like Liberty Mutual and MassMutual are leaders in the field.
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Chicago, IL
Average Salary: $165,239
Chicago provides a robust environment for underwriting professionals. The city's diverse economy offers many sectors to explore. Major firms include Allstate and CNA Financial.
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Denver, CO
Average Salary: $161,338
Denver offers a growing market for underwriting. The city's outdoor lifestyle complements a stable career. Companies like Rocky Mountain Insurance and Nationwide are key players.
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Philadelphia, PA
Average Salary: $157,923
Philadelphia has a strong tradition in underwriting. The city's historic institutions offer stability. Employers like Cigna and Independence Blue Cross are well-known.
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Atlanta, GA
Average Salary: $154,432
Atlanta provides a fast-paced environment for underwriting. The city's growth attracts many companies. Key employers include Aflac and Allstate.
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Washington, DC
Average Salary: $149,711
Washington, DC, offers a unique blend of politics and business. The city's diverse industries create varied opportunities. Major firms include MetLife and Prudential.
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Minneapolis, MN
Average Salary: $146,690
Minneapolis offers a friendly market for underwriting. The city's strong financial sector provides many job opportunities. Companies like U.S. Bank and Thrivent are prominent.
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Charlotte, NC
Average Salary: $145,164
Charlotte provides a growing market for underwriting. The city's financial hub offers many opportunities. Major firms include Bank of America and MetLife.
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What are the best companies a Underwriting Manager can work for?

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Liberty Mutual Insurance
Average Salary: $210,318
Liberty Mutual Insurance offers rewarding Underwriting Manager roles. They operate in many locations across the U.S. and globally. Managers here focus on risk assessment and policy creation. They work in offices in major cities like Boston, New York, and San Francisco.
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AXA
Average Salary: $179,633
AXA provides excellent opportunities for Underwriting Managers. They have offices in many countries, including France, the U.S., and Asia. Managers at AXA work on evaluating risks and managing insurance policies. They are based in cities like Paris, New York, and Singapore.
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AXA XL
Average Salary: $177,788
AXA XL offers competitive salaries for Underwriting Managers. They operate in various locations worldwide, including the U.S., Europe, and the Middle East. Managers here focus on risk management and underwriting policies. They work in offices in cities like London, New York, and Dubai.
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Zurich Insurance
Average Salary: $167,954
Zurich Insurance offers attractive roles for Underwriting Managers. They have offices in many countries, including the U.S., Europe, and Asia. Managers at Zurich work on assessing risks and creating insurance policies. They are based in cities like Zurich, New York, and Hong Kong.
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Wells Fargo
Average Salary: $163,374
Wells Fargo provides good opportunities for Underwriting Managers. They have branches in many U.S. cities. Managers here focus on evaluating risks and managing insurance policies. They work in offices in major cities like San Francisco, New York, and Charlotte.
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Great American Insurance Group
Average Salary: $161,958
Great American Insurance Group offers rewarding roles for Underwriting Managers. They operate in many U.S. locations. Managers here focus on risk assessment and policy creation. They work in offices in cities like Cincinnati, New York, and Los Angeles.
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U.S. Bank
Average Salary: $142,203
U.S. Bank offers competitive salaries for Underwriting Managers. They have branches in many U.S. cities. Managers here focus on evaluating risks and managing insurance policies. They work in offices in major cities like Minneapolis, New York, and San Francisco.
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CVS Health
Average Salary: $109,066
CVS Health provides good opportunities for Underwriting Managers. They have offices in many U.S. locations. Managers here focus on assessing risks and creating insurance policies. They work in offices in cities like Woonsocket, New York, and San Francisco.
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IAT Insurance Group
Average Salary: $78,394
IAT Insurance Group offers roles for Underwriting Managers. They operate in many U.S. locations. Managers here focus on evaluating risks and managing insurance policies. They work in offices in cities like New York, Los Angeles, and Chicago.
How to earn more as a Underwriting Manager?
Becoming an Underwriting Manager can lead to a rewarding career with good earning potential. To maximize your income, consider the following factors that can help you earn more in this role.
First, gaining experience in different areas of underwriting can make you more valuable. Each area, like health, property, or life insurance, has its own challenges. Mastering these can help you take on more complex tasks and earn a higher salary. Second, earning advanced certifications can boost your skills and knowledge. Certifications from recognized bodies show that you are committed to your career and can lead to higher-paying positions. Third, developing strong leadership skills can help you manage teams effectively. Good managers can lead their teams to better performance, which can result in higher bonuses and promotions. Fourth, networking with other professionals in the industry can open up new job opportunities. Attending industry events and joining professional groups can help you learn about new positions and get referrals. Finally, staying updated with the latest industry trends and regulations can help you make better decisions. Being knowledgeable about changes in the market can give you an edge over others and lead to higher earnings.
By focusing on these factors, an Underwriting Manager can increase their earning potential and advance their career.
- Gain experience in different areas of underwriting.
- Earn advanced certifications.
- Develop strong leadership skills.
- Network with other industry professionals.
- Stay updated with industry trends and regulations.