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Underwriting specialist salary
Average underwriting specialist salary
$63,325
Understanding Underwriting Specialist Salaries
The average salary for an Underwriting Specialist stands at $63,325 per year, translating to about $30 per hour. Factors influencing this figure include geographic location, industry specifics, and years of experience. For example, specialists in higher demand regions or industries may see salaries surpass this average. Additionally, those with advanced experience often command higher wages, reflecting their expertise and responsibilities.
Regional Salary Variations
States such as California, New York, and Texas typically offer the highest salaries for underwriting specialists. These regions host a plethora of insurance companies and financial institutions, driving competition for skilled professionals. Understanding these regional salary dynamics can guide job seekers in their career decisions.
Career Advancement Opportunities
For those looking to increase their earning potential, pursuing additional certifications or specializations in underwriting can open doors to higher-paying roles. Networking within the industry and staying updated on market trends also enhances job prospects. Seek out positions that align with your career goals and expertise to maximize your salary potential.
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Where can an Underwriting Specialist earn more?
Underwriting specialist salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level underwriting specialist | $36,500 | $17.56 |
| Mid-level underwriting specialist | $61,800 | $29.69 |
| Senior-level underwriting specialist | $108,000 | $51.70 |
Underwriting specialist salary estimates from across the web
Average underwriting specialist salary by state
The average underwriting specialist salary in Massachusetts, New York, and Connecticut are the highest in the U.S. The lowest average underwriting specialist salary states are Louisiana, South Carolina, and Arkansas.
- State view
- County view
Highest paying states for underwriting specialists
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $88,630 | $42.61 |
| 2 | Delaware | $71,351 | $34.30 |
| 3 | Connecticut | $81,176 | $39.03 |
| 4 | Ohio | $71,508 | $34.38 |
| 5 | California | $80,234 | $38.57 |
| 6 | Pennsylvania | $72,032 | $34.63 |
| 7 | Illinois | $71,995 | $34.61 |
| 8 | Massachusetts | $98,238 | $47.23 |
| 9 | Arizona | $66,101 | $31.78 |
| 10 | Michigan | $63,810 | $30.68 |
| 11 | North Carolina | $65,096 | $31.30 |
| 12 | North Dakota | $63,313 | $30.44 |
| 13 | New Hampshire | $74,330 | $35.74 |
| 14 | Maine | $66,944 | $32.18 |
| 15 | Colorado | $66,038 | $31.75 |
| 16 | Texas | $64,332 | $30.93 |
| 17 | Indiana | $66,705 | $32.07 |
| 18 | Wisconsin | $65,517 | $31.50 |
| 19 | Kansas | $62,730 | $30.16 |
| 20 | District of Columbia | $76,109 | $36.59 |
| 21 | Vermont | $63,802 | $30.67 |
| 22 | Rhode Island | $64,395 | $30.96 |
| 23 | South Dakota | $58,268 | $28.01 |
| 24 | Nevada | $60,732 | $29.20 |
| 25 | Georgia | $62,965 | $30.27 |
| 26 | Iowa | $56,880 | $27.35 |
| 27 | Washington | $62,703 | $30.15 |
| 28 | Florida | $58,675 | $28.21 |
| 29 | Hawaii | $56,025 | $26.94 |
| 30 | New Jersey | $63,894 | $30.72 |
| 31 | Oregon | $60,217 | $28.95 |
| 32 | Utah | $55,466 | $26.67 |
| 33 | Minnesota | $60,689 | $29.18 |
| 34 | West Virginia | $56,578 | $27.20 |
| 35 | Wyoming | $52,676 | $25.32 |
| 36 | Montana | $57,136 | $27.47 |
| 37 | Idaho | $55,918 | $26.88 |
| 38 | Alaska | $45,464 | $21.86 |
| 39 | Maryland | $58,504 | $28.13 |
| 40 | Virginia | $58,070 | $27.92 |
| 41 | Nebraska | $52,845 | $25.41 |
| 42 | New Mexico | $56,742 | $27.28 |
| 43 | Missouri | $56,573 | $27.20 |
| 44 | Kentucky | $54,931 | $26.41 |
| 45 | Oklahoma | $56,039 | $26.94 |
| 46 | Tennessee | $53,467 | $25.71 |
| 47 | Louisiana | $49,975 | $24.03 |
| 48 | Alabama | $48,535 | $23.33 |
| 49 | Arkansas | $49,163 | $23.64 |
| 50 | South Carolina | $49,690 | $23.89 |
| 51 | Mississippi | $48,142 | $23.15 |
Highest paying cities for underwriting specialists
The highest-paying cities for underwriting specialists are Boston, MA, New York, NY, and San Francisco, CA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | Boston, MA | $98,387 | $47.30 |
| 2 | New York, NY | $88,717 | $42.65 |
| 3 | San Francisco, CA | $84,338 | $40.55 |
| 4 | Hartford, CT | $81,298 | $39.09 |
| 5 | Washington, DC | $76,191 | $36.63 |
| 6 | Chicago, IL | $72,357 | $34.79 |
| 7 | Philadelphia, PA | $72,329 | $34.77 |
| 8 | Wilmington, DE | $71,462 | $34.36 |
| 9 | Fort Wayne, IN | $68,735 | $33.05 |
| 10 | Phoenix, AZ | $66,248 | $31.85 |
| 11 | Denver, CO | $65,952 | $31.71 |
| 12 | Wauwatosa, WI | $65,624 | $31.55 |
| 13 | Bedford, TX | $64,920 | $31.21 |
| 14 | Johnston, RI | $64,380 | $30.95 |
| 15 | Jersey City, NJ | $64,004 | $30.77 |
| 16 | Alpharetta, GA | $63,479 | $30.52 |
| 17 | Lansing, MI | $63,241 | $30.40 |
| 18 | Charlotte, NC | $63,215 | $30.39 |
| 19 | Overland Park, KS | $62,997 | $30.29 |
| 20 | Seattle, WA | $62,899 | $30.24 |
Underwriting specialist salary details
An underwriting specialist's salary ranges from $39,000 a year at the 10th percentile to $101,000 at the 90th percentile.
What is an underwriting specialist's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $101,000 | $8,417 | $49 |
| 75th Percentile | $81,000 | $6,750 | $39 |
| Average | $63,325 | $5,277 | $30 |
| 25th Percentile | $49,000 | $4,083 | $24 |
| 10th Percentile | $39,000 | $3,250 | $19 |
Highest paying underwriting specialist jobs
The highest paying types of underwriting specialists are credit officer, senior credit analyst, and bank officer.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Closer | $29,291 | $2,441 | $14.08 | 7,560 |
| Mortgage Banker | $27,331 | $2,278 | $13.14 | 24,297 |
| Credit Officer | $129,478 | $10,790 | $62.25 | 60,323 |
| Bank Officer | $79,562 | $6,630 | $38.25 | 69,880 |
| Loan Officer | $45,817 | $3,818 | $22.03 | 63,663 |
| Mortgage Consultant | $38,934 | $3,245 | $18.72 | 24,057 |
Top companies hiring underwriting specialists now:
Which companies pay underwriting specialists the most?
Underwriting specialist salaries at AIG and Citi are the highest-paying according to our most recent salary estimates. In addition, the average underwriting specialist salary at companies like Berkshire Hathaway and W. R. Berkley are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | AIG | $106,241 | $51.08 |
| 2 | Citi | $105,515 | $50.73 |
| 3 | Berkshire Hathaway | $97,706 | $46.97 |
| 4 | W. R. Berkley | $97,592 | $46.92 |
| 5 | American Family Insurance | $87,544 | $42.09 |
| 6 | BERKLEY TECHNOLOGY SERVICES | $85,473 | $41.09 |
| 7 | The General | $82,874 | $39.84 |
| 8 | BCforward | $82,324 | $39.58 |
| 9 | Markel | $80,228 | $38.57 |
| 10 | Philadelphia Insurance Companies | $79,347 | $38.15 |
| 11 | Nationwide | $77,252 | $37.14 |
| 12 | Liberty Mutual Insurance | $77,169 | $37.10 |
| 13 | Allianz of America, Inc. | $77,016 | $37.03 |
| 14 | James River Group | $76,606 | $36.83 |
| 15 | Munich Reinsurance America, Inc. | $76,534 | $36.80 |
| 16 | James River Ins | $76,024 | $36.55 |
| 17 | Versapay | $75,866 | $36.47 |
| 18 | CNA Holding Corporation | $75,837 | $36.46 |
| 19 | The Independent Traveler | $75,812 | $36.45 |
| 20 | The Jonus Group | $75,150 | $36.13 |
Wage gap by gender, race and education
Underwriting specialist salary trends
The average underwriting specialist salary has risen by $9,668 over the last ten years. In 2014, the average underwriting specialist earned $53,657 annually, but today, they earn $63,325 a year. That works out to a 6% change in pay for underwriting specialists over the last decade.
Compare underwriting specialist salaries for cities or states with the national average over time.
Average underwriting specialist salary over time
Compare underwriting specialist salaries for individual cities or states with the national average.
Underwriting specialist salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $63,300 | $30.44 | +2.5% |
| 2025 | $61,800 | $29.69 | +0.9% |
| 2024 | $61,200 | $29.42 | -0.5% |
| 2023 | $61,500 | $29.58 | +3.0% |
| 2022 | $59,700 | $28.70 | +3.9% |
Recently added underwriting specialist salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| CNA Financial Corp | Underwriting Specialist (Commercial Middle Market) | Glastonbury, CT | 06/28/2025 | $72,000 |
| CNA Financial Corp | Underwriting Specialist (Commercial Middle Market) | Fine, NY | 06/28/2025 | $72,000 |
| Great American Insurance | Senior GL Underwriting Specialist-Environmental Division | New York, NY | 06/28/2025 | $100,000 |
| Continental Casualty Company | Underwriting Specialist (Commercial Middle Market) | Glastonbury, CT | 06/28/2025 | $72,000 |
| Arch Capital Group Ltd. | Underwriting Specialist, Property | Philadelphia, PA | 06/27/2025 | $133,753 |
| Arch Capital Group Ltd. | Underwriting Specialist, Middle Market Solutions | Memphis, TN | 06/27/2025 | $83,600 |
| Arch Capital Group Ltd. | Underwriting Specialist, Property | New York, NY | 06/27/2025 | $133,753 |
| Sumitomo Mitsui Financial Group | Underwriting Specialist-Marine Cargo | Lexington, NY | 06/27/2025 | $180,000 |
| Yrefy | Underwriting Specialist | Phoenix, AZ | 06/27/2025 | $50,000 |
| American International Group | Underwriting Specialist, Primary Casualty | Chicago, IL | 06/26/2025 | $104,600 |
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