Find The Best Underwriting Associate Jobs For You

Where do you want to work?

0 selections

Working as an Underwriting Associate

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.

There is more than meets the eye when it comes to being an underwriting associate. For example, did you know that they make an average of $23.16 an hour? That's $48,169 a year!

Between 2018 and 2028, the career is expected to grow -5% and produce -5,400 job opportunities across the U.S.

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, math skills and analytical skills.

When it comes to the most important skills required to be an underwriting associate, we found that a lot of resumes listed 17.0% of underwriting associates included customer service, while 15.2% of resumes included underwriting guidelines, and 8.6% of resumes included life insurance. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the underwriting associate job title. But what industry to start with? Most underwriting associates actually find jobs in the insurance and finance industries.

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 58.6% of underwriting associates have a bachelor's degree. In terms of higher education levels, we found that 11.1% 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.

Choosing the right major is always an important step when researching how to become an underwriting associate. When we researched the most common majors for an underwriting associate, we found that they most commonly earn bachelor's degree degrees or associate degree degrees. Other degrees that we often see on underwriting associate resumes include master's degree degrees or high school diploma degrees.

You may find that experience in other jobs will help you become an underwriting associate. In fact, many underwriting associate jobs require experience in a role such as customer service representative. Meanwhile, many underwriting associates also have previous career experience in roles such as underwriting assistant or underwriter.

What is the right job for my career path?

Tell us your goals and we'll match you with the right jobs to get there.

Average Salary$48,169
Job Growth Rate-5%

Underwriting Associate Career Paths

Top Careers Before Underwriting Associate

Top Careers After Underwriting Associate

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for an Underwriting Associate

Underwriting Associates in America make an average salary of $48,169 per year or $23 per hour. The top 10 percent makes over $94,000 per year, while the bottom 10 percent under $24,000 per year.
Average Salary
$48,169

Best Paying Cities

City
Average Salary
New York, NY
Salary Range55k - 111k$78k$78,335
Philadelphia, PA
Salary Range53k - 108k$76k$75,909
New Haven, CT
Salary Range52k - 104k$74k$73,893
San Francisco, CA
Salary Range51k - 99k$71k$71,466
Boston, MA
Salary Range50k - 97k$70k$70,003
Pontiac, MI
Salary Range45k - 97k$67k$66,702
$33k
$111k

Recently Added Salaries

Job TitleCompanyCompanyStart DateSalary
Underwriting Associate-Middle Markets P&C
Underwriting Associate-Middle Markets P&C
CNA Financial
CNA Financial
01/23/2021
01/23/2021
$50,00001/23/2021
$50,000
Underwriting Associate
Underwriting Associate
Randstad
Randstad
01/13/2021
01/13/2021
$35,47901/13/2021
$35,479
Underwriting Associate-Middle Market P&C
Underwriting Associate-Middle Market P&C
CNA Financial
CNA Financial
12/25/2020
12/25/2020
$50,00012/25/2020
$50,000
Underwriting Associate-Middle Market P&C
Underwriting Associate-Middle Market P&C
CNA Financial
CNA Financial
12/18/2020
12/18/2020
$50,00012/18/2020
$50,000
Underwriting Associate-Middle Market P&C
Underwriting Associate-Middle Market P&C
CNA Financial
CNA Financial
11/10/2020
11/10/2020
$50,00011/10/2020
$50,000
See More Recent Salaries

Calculate your salary

Use Zippia's Salary Calculator to see how your pay matches up.

Underwriting Associate Demographics

Gender

female

61.0 %

male

33.4 %

unknown

5.5 %

Ethnicity

White

71.7 %

Hispanic or Latino

10.0 %

Black or African American

9.2 %

Foreign Languages Spoken

Spanish

32.1 %

Mandarin

10.7 %

Chinese

8.9 %
See More Demographics

Underwriting Associate Education

Majors

Business
33.1 %
Finance
13.0 %

Degrees

Bachelors

58.6 %

Associate

12.6 %

Masters

11.1 %

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 • Public

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 • Public

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

7. Ball State University

Muncie, IN • Public

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

8. Florida State University

Tallahassee, FL • Public

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 • Public

In-State Tuition
$10,555
Enrollment
30,360
See More Education Info
Job type you want
Full Time
Part Time
Internship
Temporary

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, 17.0% of underwriting associates listed customer service on their resume, but soft skills such as organizational skills and math skills are important as well.

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 New Jersey, New York, Pennsylvania, and Rhode Island. Underwriting associates make the most in New Jersey with an average salary of $81,014. Whereas in New York and Pennsylvania, they would average $77,690 and $74,276, respectively. While underwriting associates would only make an average of $73,835 in Rhode Island, 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. Pennsylvania

Total Underwriting Associate Jobs:
29
Highest 10% Earn:
$141,000
Location Quotient:
1.71
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. New York

Total Underwriting Associate Jobs:
40
Highest 10% Earn:
$146,000
Location Quotient:
2
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. Connecticut

Total Underwriting Associate Jobs:
15
Highest 10% Earn:
$139,000
Location Quotient:
3.1
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
View Full List

How Do Underwriting Associate Rate Their Jobs?

Working as an Underwriting Associate? Share your experience anonymously.
Rate
Do you work as an Underwriting Associate?
Rate how you like work as Underwriting Associate. It's anonymous and will only take a minute.
Rate

Top Underwriting Associate Employers

1. Chubb Limited
5.0
Avg. Salary: 
$97,478
Underwriting Associates Hired: 
85+
2. Zurich
4.9
Avg. Salary: 
$89,911
Underwriting Associates Hired: 
38+
3. CNA Financial
4.4
Avg. Salary: 
$49,179
Underwriting Associates Hired: 
36+
4. Comerica
4.9
Avg. Salary: 
$47,270
Underwriting Associates Hired: 
25+
5. Bank of America
4.8
Avg. Salary: 
$52,783
Underwriting Associates Hired: 
23+
6. Allstate
4.7
Avg. Salary: 
$35,326
Underwriting Associates Hired: 
23+

Underwriting Associate Videos

Updated October 2, 2020