Insurance companies make big profits, and joining them as employees is often a high-paying job. Although this description seems very capitalistic, we can't fool ourselves; one works to earn money. One of the most important jobs within these companies is the Underwriting Associate since it is in charge of evaluating the financial risks of both clients and the company itself in order to decide whether a proposal is feasible or not.

The Underwriter Associates receive the submitted forms and sit down to study them. In order to do this, they rely on some computer programs and algorithms, which help them to calculate the risks. Now, if the risk is calculated by computers, what is the role of the Underwriting Associate then? The answer is simple: the Underwriting Associate is responsible for analyzing particular situations that cannot be entrusted to the software. Therefore, to occupy this position, you must be very careful, analytical, and precise, but you also need some cunning and intuition.

Educational requirements for the Underwriting Associate position include a bachelor's degree in a business-related field and a certificate of a business or personal insurance training. In addition, companies almost always require three years of work experience in the same sector. If you get the job, you can earn about $76,000 a year, and depending on your achievements; you can also get some very attractive commissions.

What Does an Underwriting Associate Do

There are certain skills that many underwriting associates have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed organizational skills, analytical skills and detail oriented.

Learn more about what an Underwriting Associate does

How To Become an Underwriting Associate

If you're interested in becoming an underwriting associate, one of the first things to consider is how much education you need. We've determined that 68.1% of underwriting associates have a bachelor's degree. In terms of higher education levels, we found that 5.9% of underwriting associates have master's degrees. Even though most underwriting associates have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become an Underwriting Associate

Underwriting Associate Career Paths

Average Salary for an Underwriting Associate

Underwriting Associates in America make an average salary of $47,503 per year or $23 per hour. The top 10 percent makes over $74,000 per year, while the bottom 10 percent under $30,000 per year.
Average Underwriting Associate Salary
$47,503 Yearly
$22.84 hourly
$30,000
10 %
$47,000
Median
$74,000
90 %

What Am I Worth?

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How To Become an Underwriting Associate
How To Become an Underwriting Associate Career Overview

States With The Most Underwriting Associate Jobs

Mouse over a state to see the number of active underwriting associate jobs in each state. The darker areas on the map show where underwriting associates earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Underwriting Associate Jobs By State

RankStateNumber of JobsAverage Salary
1California949$49,572
2Texas776$43,626
3Florida505$43,558
4Illinois479$52,582
5New York464$64,777
6Ohio394$51,104
7Michigan374$45,268
8Arizona366$47,835
9North Carolina366$47,332
10Pennsylvania349$52,389
11Georgia287$47,473
12New Jersey246$54,448
13Colorado237$45,818
14Washington234$49,778
15Minnesota224$44,401
16Indiana211$48,715
17Virginia195$41,839
18Massachusetts190$69,955
19Missouri174$42,093
20Maryland167$42,668
21Tennessee137$40,131
22Oregon129$42,093
23Wisconsin128$47,452
24Kansas124$46,566
25Iowa120$42,019
26Utah120$39,044
27South Carolina117$36,940
28Kentucky116$40,606
29Connecticut113$61,320
30Alabama97$36,816
31Nevada81$42,303
32Nebraska74$39,325
33Louisiana71$37,788
34Oklahoma65$41,957
35Maine58$49,023
36Idaho56$40,172
37New Mexico52$40,503
38Mississippi52$36,497
39South Dakota51$43,455
40Arkansas47$37,181
41Delaware46$52,942
42Wyoming38$38,732
43New Hampshire37$54,930
44North Dakota36$47,470
45Montana36$43,225
46Rhode Island34$48,376
47West Virginia33$40,490
48Hawaii27$44,793
49Vermont24$47,110
50Alaska20$42,276

Underwriting Associate Education

Underwriting Associate Majors

32.9 %
12.0 %

Underwriting Associate Degrees

Bachelors

68.1 %

Associate

16.4 %

Masters

5.9 %

Top Colleges for Underwriting Associates

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

3. University of Minnesota - Twin Cities

Minneapolis, MN • Private

In-State Tuition
$14,760
Enrollment
31,451

4. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

5. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

6. SUNY at Binghamton

Vestal, NY • Private

In-State Tuition
$9,808
Enrollment
13,990

7. Ball State University

Muncie, IN • Private

In-State Tuition
$9,896
Enrollment
15,529

8. Florida State University

Tallahassee, FL • Private

In-State Tuition
$5,656
Enrollment
32,072

9. Butler University

Indianapolis, IN • Private

In-State Tuition
$41,120
Enrollment
4,553

10. University of Wisconsin - Madison

Madison, WI • Private

In-State Tuition
$10,555
Enrollment
30,360

Top Skills For an Underwriting Associate

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 18.7% of underwriting associates listed customer service on their resume, but soft skills such as organizational skills and analytical skills are important as well.

Choose From 10+ Customizable Underwriting Associate Resume templates

Zippia allows you to choose from different easy-to-use Underwriting Associate templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Underwriting Associate resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Underwriting Associate Demographics

Underwriting Associate Gender Distribution

Female
Female
65%
Male
Male
35%

After extensive research and analysis, Zippia's data science team found that:

  • Among underwriting associates, 65.2% of them are women, while 34.8% are men.

  • The most common race/ethnicity among underwriting associates is White, which makes up 70.9% of all underwriting associates.

  • The most common foreign language among underwriting associates is Spanish at 32.1%.

Work Experience Programs For Underwriting Associates

Virtual work experience programs replicate work at top companies and help you gain the skills to be successful when applying and working there. In only a few hours, learn the relevant tools necessary to complete a typical work day at that company. Virtual work experience programs are 100% free, open-access, and self-paced. No experience or application is required!

Audit Program

Company: Grant Thornton Australia

Cost: Free

Duration: 5-6 hours

Workplace Preparation Program

Company: ANZ

Cost: Free

Duration: 5-6 hours

Digital Intelligence in Business Transformation Program

Company: PwC Switzerland

Cost: Free

Duration: 7-8 hours

Business and Human Rights Program

Company: Clifford Chance

Cost: Free

Duration: 7.5-8.5 hours

Data Visualisation: Empowering Business with Effective Insights Program

Company: Tata

Cost: Free

Duration: 3.5-4.5 hours

Public Health Policy & Management Program

Company: Australasian Society for HIV, Viral Hepatitis and Sexual Health Medicine

Cost: Free

Duration: 5-6 hours

Software Engineering Program

Company: J.P. Morgan

Cost: Free

Duration: 5 hours

Data Analytics Program

Company: General Electric

Cost: Free

Duration: 5-6 hours

Getting Ready to Join the Workforce Program

Company: Standard Bank

Cost: Free

Duration: 4-4.5 hours

Global Finance and Business Management Program

Company: JPMorgan Chase & Co.

Cost: Free

Duration: 4-5 hours

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Best States For an Underwriting Associate

Some places are better than others when it comes to starting a career as an underwriting associate. The best states for people in this position are Massachusetts, New York, Connecticut, and New Hampshire. Underwriting associates make the most in Massachusetts with an average salary of $69,955. Whereas in New York and Connecticut, they would average $64,777 and $61,320, respectively. While underwriting associates would only make an average of $54,930 in New Hampshire, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Underwriting Associate Jobs:
464
Highest 10% Earn:
$101,000
Location Quotient:
1.1

2. Connecticut

Total Underwriting Associate Jobs:
113
Highest 10% Earn:
$95,000
Location Quotient:
1.04

3. Illinois

Total Underwriting Associate Jobs:
479
Highest 10% Earn:
$78,000
Location Quotient:
1.23
Full List Of Best States For Underwriting Associates

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Top Underwriting Associate Employers

Most Common Employers For Underwriting Associate

RankCompanyAverage SalaryHourly RateJob Openings
1AIG$80,506$38.7017
2Markel$65,513$31.5012
3Chubb$63,952$30.7591
4The Hartford$51,930$24.9731
5Nationwide$51,504$24.7612
6MetLife$50,504$24.2814
7Cigna$50,048$24.0612
8Bank of America$47,299$22.7425
9Mutual of Omaha$47,048$22.6222
10American Property Casualty Insurance Association$45,389$21.8213

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