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Underwriting manager salary
Average underwriting manager salary
$77,426
Average Underwriting Manager Salary
As of October 2025, the average salary for an underwriting manager stands at $77,426 annually. This translates to roughly $37 per hour. Salaries in this field can vary significantly based on several factors, including geographical location, years of experience, and the specific industry sector. For instance, underwriting managers in finance may earn more compared to those in insurance.
Salary by State
Understanding where underwriting managers earn the most can help job seekers target their job applications effectively. States such as California and New York often report higher salaries compared to the national average. These locations not only offer more job opportunities but also higher living costs, which can influence salary ranges.
Experience Level Impact
Experience plays a vital role in salary determination. Entry-level underwriting managers typically earn less than their seasoned counterparts. With five to ten years of experience, salaries can increase significantly, reflecting the manager’s ability to assess risk and make decisions that impact the company's bottom line.
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Where can an Underwriting Manager earn more?
Underwriting manager salaries by experience level
| Experience level | Avg. salary | Hourly rate |
|---|---|---|
| Entry-level underwriting manager | $53,200 | $25.59 |
| Mid-level underwriting manager | $82,400 | $39.61 |
| Senior-level underwriting manager | $127,000 | $60.88 |
Underwriting manager salary estimates from across the web
Average underwriting manager salary by state
The highest-paying states for underwriting managers are New York, Virginia, and California. The lowest average underwriting manager salary states are Wyoming, Utah, and Mississippi.
- State view
- County view
Highest paying states for underwriting managers
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | New York | $98,276 | $47.25 |
| 2 | Illinois | $91,228 | $43.86 |
| 3 | Connecticut | $91,693 | $44.08 |
| 4 | Delaware | $93,122 | $44.77 |
| 5 | Michigan | $86,865 | $41.76 |
| 6 | Virginia | $95,982 | $46.15 |
| 7 | New Jersey | $90,495 | $43.51 |
| 8 | California | $94,690 | $45.52 |
| 9 | Massachusetts | $93,405 | $44.91 |
| 10 | Ohio | $83,777 | $40.28 |
| 11 | Nevada | $83,492 | $40.14 |
| 12 | Pennsylvania | $84,174 | $40.47 |
| 13 | District of Columbia | $90,564 | $43.54 |
| 14 | Wisconsin | $86,158 | $41.42 |
| 15 | Maryland | $87,487 | $42.06 |
| 16 | Maine | $87,529 | $42.08 |
| 17 | Rhode Island | $84,958 | $40.85 |
| 18 | Washington | $82,623 | $39.72 |
| 19 | South Dakota | $83,129 | $39.97 |
| 20 | North Carolina | $77,333 | $37.18 |
| 21 | Kansas | $78,565 | $37.77 |
| 22 | Arizona | $74,089 | $35.62 |
| 23 | West Virginia | $79,182 | $38.07 |
| 24 | Colorado | $77,085 | $37.06 |
| 25 | Vermont | $82,844 | $39.83 |
| 26 | Texas | $71,094 | $34.18 |
| 27 | Tennessee | $73,287 | $35.23 |
| 28 | Iowa | $74,440 | $35.79 |
| 29 | Alaska | $79,375 | $38.16 |
| 30 | New Hampshire | $77,389 | $37.21 |
| 31 | Oklahoma | $76,228 | $36.65 |
| 32 | Indiana | $72,903 | $35.05 |
| 33 | New Mexico | $75,083 | $36.10 |
| 34 | North Dakota | $74,886 | $36.00 |
| 35 | Alabama | $73,432 | $35.30 |
| 36 | Minnesota | $73,680 | $35.42 |
| 37 | Louisiana | $72,516 | $34.86 |
| 38 | Idaho | $74,714 | $35.92 |
| 39 | Missouri | $70,238 | $33.77 |
| 40 | Oregon | $71,912 | $34.57 |
| 41 | Georgia | $69,430 | $33.38 |
| 42 | Arkansas | $67,835 | $32.61 |
| 43 | Utah | $65,900 | $31.68 |
| 44 | South Carolina | $69,025 | $33.19 |
| 45 | Kentucky | $68,905 | $33.13 |
| 46 | Montana | $67,524 | $32.46 |
| 47 | Florida | $63,602 | $30.58 |
| 48 | Hawaii | $47,265 | $22.72 |
| 49 | Wyoming | $66,560 | $32.00 |
| 50 | Nebraska | $64,603 | $31.06 |
| 51 | Mississippi | $65,190 | $31.34 |
Highest paying cities for underwriting managers
The highest-paying cities for underwriting managers are San Francisco, CA, New York, NY, and Manassas, VA.
| Rank | City | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | San Francisco, CA | $99,138 | $47.66 |
| 2 | New York, NY | $98,405 | $47.31 |
| 3 | Manassas, VA | $98,070 | $47.15 |
| 4 | Boston, MA | $93,337 | $44.87 |
| 5 | Chicago, IL | $91,687 | $44.08 |
| 6 | Hartford, CT | $91,367 | $43.93 |
| 7 | Fair Lawn, NJ | $90,806 | $43.66 |
| 8 | Washington, DC | $90,549 | $43.53 |
| 9 | Troy, MI | $87,381 | $42.01 |
| 10 | Frederick, MD | $87,313 | $41.98 |
| 11 | Philadelphia, PA | $84,631 | $40.69 |
| 12 | Seattle, WA | $83,070 | $39.94 |
| 13 | Raleigh, NC | $78,879 | $37.92 |
| 14 | Denver, CO | $77,172 | $37.10 |
| 15 | Phoenix, AZ | $74,191 | $35.67 |
| 16 | Minneapolis, MN | $73,635 | $35.40 |
| 17 | Portland, OR | $71,482 | $34.37 |
| 18 | Dallas, TX | $71,310 | $34.28 |
| 19 | Alpharetta, GA | $70,187 | $33.74 |
| 20 | Omaha, NE | $64,843 | $31.17 |
Underwriting manager salary details
An underwriting manager's salary ranges from $50,000 a year at the 10th percentile to $119,000 at the 90th percentile.
What is an underwriting manager's salary?
| Percentile | Annual salary | Monthly salary | Hourly rate |
|---|---|---|---|
| 90th Percentile | $119,000 | $9,917 | $57 |
| 75th Percentile | $97,000 | $8,083 | $47 |
| Average | $77,426 | $6,452 | $37 |
| 25th Percentile | $61,000 | $5,083 | $29 |
| 10th Percentile | $50,000 | $4,167 | $24 |
Highest paying underwriting manager jobs
The highest paying types of underwriting managers are audit manager, investments manager, and risk manager.
| Job title | Annual salary | Monthly salary | Hourly rate | Job openings |
|---|---|---|---|---|
| Cash Manager | $93,363 | $7,780 | $44.89 | 60,517 |
| Tax Manager | $96,100 | $8,008 | $46.20 | 79,204 |
| Manager | $58,651 | $4,888 | $28.20 | 1,236,194 |
| Finance Center Manager | $58,763 | $4,897 | $28.25 | 151,642 |
| Branch Manager | $56,291 | $4,691 | $27.06 | 333,883 |
| Business Relationship Manager | $87,741 | $7,312 | $42.18 | 114,003 |
Top companies hiring underwriting managers now:
Which companies pay underwriting managers the most?
Underwriting manager salaries at W. R. Berkley and Guidestone Financial Resources are the highest-paying according to our most recent salary estimates. In addition, the average underwriting manager salary at companies like CVS Health and AIG are highly competitive.
| Rank | Company | Average salary | Hourly rate |
|---|---|---|---|
| 1 | W. R. Berkley | $111,571 | $53.64 |
| 2 | Guidestone Financial Resources | $111,447 | $53.58 |
| 3 | CVS Health | $109,735 | $52.76 |
| 4 | AIG | $106,988 | $51.44 |
| 5 | Nuveen Investments | $105,028 | $50.49 |
| 6 | Aetna | $102,635 | $49.34 |
| 7 | XL America Inc | $100,090 | $48.12 |
| 8 | Legal & General Investment Management America | $99,259 | $47.72 |
| 9 | BERKLEY TECHNOLOGY SERVICES | $96,923 | $46.60 |
| 10 | American Family Insurance | $94,666 | $45.51 |
| 11 | Teachers Insurance & Annuity Association of America | $94,123 | $45.25 |
| 12 | Swiss Reinsurance America Corporation | $91,504 | $43.99 |
| 13 | CopperPoint Insurance Companies | $91,210 | $43.85 |
| 14 | The Hanover Insurance Group | $90,862 | $43.68 |
| 15 | Zurich | $90,765 | $43.64 |
| 16 | American Express | $90,631 | $43.57 |
| 17 | Century Communities | $90,628 | $43.57 |
| 18 | Great American Insurance | $90,513 | $43.52 |
| 19 | The Travelers Companies | $90,262 | $43.40 |
| 20 | PMA Companies | $90,049 | $43.29 |
Wage gap by gender, race and education
Underwriting manager salary trends
The average underwriting manager salary has risen by $15,591 over the last ten years. In 2014, the average underwriting manager earned $61,835 annually, but today, they earn $77,426 a year. That works out to a 10% change in pay for underwriting managers over the last decade.
Compare underwriting manager salaries for cities or states with the national average over time.
Average underwriting manager salary over time
Compare underwriting manager salaries for individual cities or states with the national average.
Underwriting manager salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2025 | $77,400 | $37.22 | +3.2% |
| 2024 | $75,000 | $36.03 | +1.5% |
| 2023 | $73,900 | $35.51 | +2.3% |
| 2022 | $72,200 | $34.70 | +2.7% |
| 2021 | $70,300 | $33.78 | +3.1% |
Recently added underwriting manager salaries
| Company | Job | Location | Date added | Salary |
|---|---|---|---|---|
| Argo Group | Underwriting Manager, Garage | Los Angeles, CA | 06/29/2025 | $162,800 |
| Cfins | Underwriting Manager-Excess Umbrella Retail | Alpharetta, GA | 06/29/2025 | $74,900 |
| Cake Mortgage Corp | Post-Close Underwriter, Manager | Los Angeles, CA | 06/28/2025 | $90,000 |
| Hub International | Underwriting Manager | Brentwood, TN | 06/27/2025 | $90,000 |
| Pennymac | Underwriter Manager | Tampa, FL | 06/25/2025 | $68,000 |
| Argo Group International Holdings Ltd. | Underwriting Manager, Garage | Denver, CO | 06/24/2025 | $135,600 |
| Argo Group | Underwriting Manager, Garage | Chicago, IL | 06/24/2025 | $149,100 |
| Premera Blue Cross | Underwriting Manager | Mountlake Terrace, WA | 06/24/2025 | $119,900 |
| First Tech Federal Credit Union | Consumer Lending Underwriting Manager | Rocklin, CA | 06/21/2025 | $105,000 |
| Western National Group & Umialik Insurance | Personal Lines Underwriting Manager | Edina, MN | 06/21/2025 | $102,200 |
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