Show me the money...

Get new comments by email
You can cancel email alerts at anytime.
Comments (11)

Host

What are typical underwriter salaries? Do some companies pay a lot more for this position than others? What does a top earner make in this field?

What skills should you learn to increase your salary?

Reply - Report abuse

Twinkle Toes in Minneapolis, Minnesota

75 months ago

Well, I just had my second interview for a major insurance company and the starting wage was 40K. She said because I have two bachelor's degrees and have been in the working world for two years I would get a raise after 4 months. Straight out of college she said would stay at 40K till they worked their way up. I am not sure what the top pay scale is?

- Was this comment helpful? Yes (3) / No (3) Reply - Report abuse

dave in Denver, Colorado

72 months ago

Underwriter salaries vary according to the company and the line of insurance you are underwriting. Personal lines underwriters generally make a few thousand less than commercial underwriters because commercial underwriting is so much more complex than personal lines. Farm underwriters make about what personal lines underwriters make. Sounds like you landed an entry level position. If you stay in underwriting, go commercial and give it some time because it generally takes several years before you know enough to get a high paying position, but once you get the experience and credentials such as CPCU, CIC, AU, etc., you will demand a higher salary. Last year I made $82,000 as a commercial underwriter and that is not the top pay in the field. Specialty underwriters can make a lot more than that. Get a mentor to help you navigate the best path to success in Commercial lines. Best of luck to you!

- Was this comment helpful? Yes (11) / No (2) Reply - Report abuse

Oceans11 in Aliso Viejo, California

72 months ago

Also, I found out the hard way not all Underwriting is created equal! Like many residential mortgage underwriters I thought highly of my skill set & after being off for over a year I landed a Group Medical Underwriting position & it's infinitely more difficult than anything in the residential mortgage arena. On top of that I'm getting paid $1000 less per month to do literally 10 times more work & I have to retain 10 times as much information. The learning curve was brutal but I'm finally starting to see some light & enjoying it very much.

- Was this comment helpful? Yes (1) / No Reply - Report abuse

Crazy in Atlanta, Georgia

69 months ago

I have worked for 10 years for a large insurance company as a personal lines underwriter and make $49K. I have a college degree in insurance, 2 designations, and 13 years of total insurance work experience. I'm trying to move to commercial lines but am having a hard time trying to figure out what a fair offer would be.

- Was this comment helpful? Yes (1) / No (4) Reply - Report abuse

MarioKart in Madison, Wisconsin

53 months ago

Any advice of how to get into Commercial Underwriting. I have a degree in business and have tried some local insurance companies which I'd like to work for.

- Was this comment helpful? Yes / No Reply - Report abuse

aladdin in Seattle, Washington

45 months ago

I've worked in group medical underwriting for five years. It's the only "real" experience I have because I was hired right out of college (bachelor degree in economics) and have been here ever since. I started at $44K and currently make $55K. I think this is on the lower end of group underwriting; everyone says my company doesn't pay much. It certainly doesn't pay enough for the abuse I endure!!!

- Was this comment helpful? Yes (3) / No Reply - Report abuse

Roo52 in Wallace, Michigan

24 months ago

I just started fresh out of college this past June with no insurance background. I am a commercial lines underwriter... The hr rep from the company was at my schools career fair.. no one was really paying that much attention to him and i was waiting in line to speak to another hr rep from completely different company. he looked nice and so i just started up the usual questions with him. then the following semester i saw him there again and he remembered me and told me that i should apply... i ended up applying for 4 different positions there, and was offered the uw job. i figured, what the heck? and went for it...Spent 10 straight weeks in a classroom type atmosphere training then a few weeks was mentored by an experienced underwriter. Was given my own territory and agents and have a limited issuing authority in early November. When I got hired, I didn't even know what underwriting was and really didn't know until about a week into training... So you can tell its been a very long frustrating road, but I'm starting to feel a little more comfortable. My starting pay was $36,000. But I will be getting a considerable raise in next coming weeks. I do enjoy the job and I'm glad it's working out like it is... Since I started, I've won box seat tickets to a Packer game, was given free liquor and a lot of other free stuff, and made some pretty awesome friends.

- Was this comment helpful? Yes (14) / No Reply - Report abuse

Mom19 in Covington, Georgia

12 months ago

Can you tell us what company this was for and what your major is? I'm working on my Bachelor's and would like some direction for the underwriting positions that are available. Thanks.

Roo52 in Wallace, Michigan said: I just started fresh out of college this past June with no insurance background. I am a commercial lines underwriter... The hr rep from the company was at my schools career fair.. no one was really paying that much attention to him and i was waiting in line to speak to another hr rep from completely different company. he looked nice and so i just started up the usual questions with him. then the following semester i saw him there again and he remembered me and told me that i should apply... i ended up applying for 4 different positions there, and was offered the uw job. i figured, what the heck? and went for it...Spent 10 straight weeks in a classroom type atmosphere training then a few weeks was mentored by an experienced underwriter. Was given my own territory and agents and have a limited issuing authority in early November. When I got hired, I didn't even know what underwriting was and really didn't know until about a week into training... So you can tell its been a very long frustrating road, but I'm starting to feel a little more comfortable. My starting pay was $36,000. But I will be getting a considerable raise in next coming weeks. I do enjoy the job and I'm glad it's working out like it is... Since I started, I've won box seat tickets to a Packer game, was given free liquor and a lot of other free stuff, and made some pretty awesome friends.

- Was this comment helpful? Yes / No Reply - Report abuse

Roo52 in Sheboygan, Wisconsin

12 months ago

This was at Acuity. My major was communications. Not everyone in my training class was as clueless as me. Some actually went to school for insurance and some had agency experience. There were 16 people in my class. About 9 were fresh out of college. They truly try to hire good people who they think has what it takes to learn and keep up with the industry.

- Was this comment helpful? Yes / No Reply - Report abuse

Mom19 in Covington, Georgia

12 months ago

Thanks for the quick reply! And the very helpful information! Sounds like you found yourself a great company to work for!

- Was this comment helpful? Yes / No Reply - Report abuse

» Sign in or create an account to comment on this topic.