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Commercial underwriter salary
Average commercial underwriter salary
$59,051
Understanding the Commercial Underwriter Salary
The average salary for a commercial underwriter is approximately $59,051 annually. However, salaries can vary widely based on factors such as location, experience level, and the specific industry in which one is employed. For instance, commercial underwriters in states like New York and California often earn more due to higher living costs and demand for skilled professionals.
Experience plays a crucial role in determining salary. Entry-level underwriters typically earn less, while those with several years of experience can command significantly higher wages. Additionally, specialized roles often come with increased compensation.
To maximize earning potential, aspiring commercial underwriters should consider pursuing certifications and gaining experience in high-demand industries. Continuous education and networking can also open doors to higher-paying positions within the field.
Where to Find Higher Salaries
Identifying the right location and industry can greatly impact your salary as a commercial underwriter. Researching job openings and salary data on platforms like Zippia can help you make informed decisions about your career path.
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Where can a Commercial Underwriter earn more?
Commercial underwriter salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level commercial underwriter | $34,100 | $16.37 |
| Mid-level commercial underwriter | $57,600 | $27.69 |
| Senior-level commercial underwriter | $100,000 | $48.21 |
Commercial underwriter salary estimates from across the web
Average commercial underwriter salary by state
The average commercial underwriter salary in Washington, Massachusetts, and New York are the highest in the U.S. The lowest average commercial underwriter salary states are South Carolina, Nebraska, and Alabama.
- State view
- County view
Highest paying states for commercial underwriters
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Washington | $70,976 | $34.12 |
| 2 | Connecticut | $63,556 | $30.56 |
| 3 | Delaware | $62,630 | $30.11 |
| 4 | Massachusetts | $70,277 | $33.79 |
| 5 | New York | $67,024 | $32.22 |
| 6 | Florida | $62,152 | $29.88 |
| 7 | Pennsylvania | $63,348 | $30.46 |
| 8 | North Carolina | $59,573 | $28.64 |
| 9 | California | $64,866 | $31.19 |
| 10 | Colorado | $61,178 | $29.41 |
| 11 | Georgia | $59,683 | $28.69 |
| 12 | Indiana | $58,017 | $27.89 |
| 13 | Illinois | $57,590 | $27.69 |
| 14 | New Jersey | $65,408 | $31.45 |
| 15 | Texas | $58,095 | $27.93 |
| 16 | North Dakota | $56,600 | $27.21 |
| 17 | Arizona | $55,704 | $26.78 |
| 18 | Michigan | $56,011 | $26.93 |
| 19 | Kansas | $56,371 | $27.10 |
| 20 | New Hampshire | $60,928 | $29.29 |
| 21 | District of Columbia | $67,572 | $32.49 |
| 22 | Wisconsin | $56,832 | $27.32 |
| 23 | Virginia | $60,495 | $29.08 |
| 24 | Ohio | $52,052 | $25.02 |
| 25 | Hawaii | $57,266 | $27.53 |
| 26 | Oregon | $55,350 | $26.61 |
| 27 | South Dakota | $51,462 | $24.74 |
| 28 | Minnesota | $55,866 | $26.86 |
| 29 | Nevada | $53,943 | $25.93 |
| 30 | Utah | $50,667 | $24.36 |
| 31 | Maine | $54,104 | $26.01 |
| 32 | Rhode Island | $54,109 | $26.01 |
| 33 | Maryland | $58,079 | $27.92 |
| 34 | West Virginia | $50,095 | $24.08 |
| 35 | Wyoming | $48,184 | $23.17 |
| 36 | Iowa | $49,217 | $23.66 |
| 37 | Idaho | $51,701 | $24.86 |
| 38 | Tennessee | $49,047 | $23.58 |
| 39 | Montana | $53,166 | $25.56 |
| 40 | Oklahoma | $51,649 | $24.83 |
| 41 | Missouri | $50,669 | $24.36 |
| 42 | Alabama | $45,946 | $22.09 |
| 43 | Kentucky | $48,629 | $23.38 |
| 44 | Arkansas | $45,800 | $22.02 |
| 45 | Vermont | $52,401 | $25.19 |
| 46 | Alaska | $51,036 | $24.54 |
| 47 | Mississippi | $45,479 | $21.86 |
| 48 | New Mexico | $50,509 | $24.28 |
| 49 | South Carolina | $46,718 | $22.46 |
| 50 | Louisiana | $45,659 | $21.95 |
| 51 | Nebraska | $46,678 | $22.44 |
Highest paying cities for commercial underwriters
The highest-paying cities for commercial underwriters are Olympia, WA, Braintree Town, MA, and San Francisco, CA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Olympia, WA | $71,928 | $34.58 |
| 2 | Braintree Town, MA | $70,432 | $33.86 |
| 3 | San Francisco, CA | $68,225 | $32.80 |
| 4 | Washington, DC | $67,606 | $32.50 |
| 5 | New York, NY | $67,252 | $32.33 |
| 6 | Philadelphia, PA | $63,620 | $30.59 |
| 7 | Hartford, CT | $63,235 | $30.40 |
| 8 | Wilmington, DE | $62,612 | $30.10 |
| 9 | Tampa, FL | $62,271 | $29.94 |
| 10 | Centennial, CO | $61,199 | $29.42 |
| 11 | Raleigh, NC | $60,883 | $29.27 |
| 12 | Alpharetta, GA | $59,787 | $28.74 |
| 13 | Baltimore, MD | $58,191 | $27.98 |
| 14 | Houston, TX | $58,056 | $27.91 |
| 15 | Chicago, IL | $57,922 | $27.85 |
| 16 | Indianapolis, IN | $57,662 | $27.72 |
| 17 | Overland Park, KS | $56,429 | $27.13 |
| 18 | Phoenix, AZ | $55,704 | $26.78 |
| 19 | Lansing, MI | $55,449 | $26.66 |
| 20 | Portland, OR | $55,040 | $26.46 |
Commercial underwriter salary details
A commercial underwriter's salary ranges from $41,000 a year at the 10th percentile to $84,000 at the 90th percentile.
What is a commercial underwriter's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $84,000 | $7,000 | $40 |
| 75th Percentile | $71,000 | $5,917 | $34 |
| Average | $59,051 | $4,921 | $28 |
| 25th Percentile | $48,000 | $4,000 | $23 |
| 10th Percentile | $41,000 | $3,417 | $20 |
Highest paying commercial underwriter jobs
The highest paying types of commercial underwriters are credit officer, senior credit analyst, and bank officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Bank Officer | $79,562 | $6,630 | $38.25 | 69,880 |
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Credit Officer | $129,478 | $10,790 | $62.25 | 60,323 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Insurance Analyst | $55,424 | $4,619 | $26.65 | 44,280 |
| Loan Analyst | $37,857 | $3,155 | $18.20 | 24,756 |
Top companies hiring commercial underwriters now:
Which companies pay commercial underwriters the most?
Commercial underwriter salaries at J.P. Morgan and Stripe are the highest-paying according to our most recent salary estimates. In addition, the average commercial underwriter salary at companies like Santander Private Banking International and Fidelity National Financial are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | J.P. Morgan | $95,840 | $46.08 |
| 2 | Stripe | $94,946 | $45.65 |
| 3 | Santander Private Banking International | $92,551 | $44.50 |
| 4 | Fidelity National Financial | $90,615 | $43.56 |
| 5 | Leumi | $89,170 | $42.87 |
| 6 | Santander Bank | $78,053 | $37.53 |
| 7 | Philadelphia Insurance Companies | $76,742 | $36.90 |
| 8 | BERKLEY TECHNOLOGY SERVICES | $75,471 | $36.28 |
| 9 | Merchants Insurance Group | $75,007 | $36.06 |
| 10 | First Foundation | $72,874 | $35.04 |
| 11 | W. R. Berkley | $72,245 | $34.73 |
| 12 | EMC Insurance | $71,984 | $34.61 |
| 13 | Cushman & Wakefield | $71,875 | $34.56 |
| 14 | JPMorgan Chase & Co. | $68,757 | $33.06 |
| 15 | The Travelers Companies | $68,420 | $32.89 |
| 16 | Chubb | $68,139 | $32.76 |
| 17 | Merchants Bonding | $67,743 | $32.57 |
| 18 | Zurich | $67,540 | $32.47 |
| 19 | The Hanover Insurance Group | $66,697 | $32.07 |
| 20 | Great American Insurance | $66,658 | $32.05 |
Wage gap by gender, race and education
Commercial underwriter salary trends
The average commercial underwriter salary has risen by $9,015 over the last ten years. In 2014, the average commercial underwriter earned $50,036 annually, but today, they earn $59,051 a year. That works out to a 6% change in pay for commercial underwriters over the last decade.
Compare commercial underwriter salaries for cities or states with the national average over time.
Average commercial underwriter salary over time
Compare commercial underwriter salaries for individual cities or states with the national average.
Commercial underwriter salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $59,100 | $28.39 | +2.5% |
| 2024 | $57,600 | $27.69 | +0.9% |
| 2023 | $57,100 | $27.44 | -0.5% |
| 2022 | $57,400 | $27.59 | +3.0% |
| 2021 | $55,700 | $26.76 | +3.9% |
Recently added commercial underwriter salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Axos Bank | Commercial Real Estate Underwriter | San Diego, CA | 06/30/2025 | $75,000 |
| Get It-Finance | Commercial Underwriter (Hybrid)-Remote | WFH | Bloomington, IN | 06/29/2025 | $82,821 |
| Get It-Finance | Commercial Multiple Peril (CMP) Underwriter-Hybrid-Remote | WFH | Anaheim, CA | 06/29/2025 | $75,000 |
| Get It-Executive | Commercial Underwriter (Hybrid)-Remote | Knoxville, TN | 06/29/2025 | $75,000 |
| Get It-Finance | Commercial Underwriter (Hybrid)-Remote-WFH | Arlington, TX | 06/29/2025 | $80,000 |
| Emergent Holdings Career Section | Senior Multiline Commercial Underwriter Remote | Lansing, MI | 06/29/2025 | $80,400 |
| Great American Insurance | Commercial Surety Underwriter-Bonds Division | Kane, PA | 06/28/2025 | $74,400 |
| Great American Insurance | Senior Commercial Surety Underwriter-Bonds Division | Downe, NJ | 06/28/2025 | $115,250 |
| Heffernan | Commercial Package Underwriter | Petaluma, CA | 06/28/2025 | $110,000 |
| Everbank | SR. Commercial Loan Underwriter-Industrial | Sacramento, CA | 06/28/2025 | $104,380 |
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