What is a senior underwriter?
Asked by: Mya Welch | Last update: November 19, 2025Score: 4.5/5 (28 votes)
How much do senior underwriters make in the US?
As of Jan 16, 2025, the average annual pay for a Senior Insurance Underwriter in the United States is $106,601 a year. Just in case you need a simple salary calculator, that works out to be approximately $51.25 an hour. This is the equivalent of $2,050/week or $8,883/month.
What is the salary of a top underwriter?
Average Salary for Insurance Underwriter
Insurance Underwriter in America make an average salary of $69,190 per year or $33.26 per hour. The top 10 percent makes over $87,500 per year, while the bottom 10 percent under $48,864 per year.
How many years does it take to be a senior underwriter?
At least 5 years of Financial lines underwriting experience. Solid underwriting fundamentals with specialties (or a strong desire to specialise) in Financial Institutions. Demonstrated understanding of financial analysis and financial markets.
Do underwriters make a lot of money?
average underwriter salary
Being an underwriter is typically a job that pays above-average wages. The U.S. Bureau of Labor Statistics (BLS) reports that underwriters make between $47,000 and $126,000 per year. On average, they earn $76,390 each year and get paid $36 per hour.
Mortgage Explainer: What is Underwriting?
What do underwriters do all day?
Job Duties
To underwrite means to accept liability for clients' potential losses. As such, underwriters review new applications or renew existing ones for insurance coverage for both individuals and companies.
Is underwriting a dying field?
Employment of insurance underwriters is projected to decline 4 percent from 2023 to 2033. Despite declining employment, about 7,800 openings for insurance underwriters are projected each year, on average, over the decade.
Is underwriting stressful?
Being an underwriter is highly stressful. I like my job and deadlines are a big stressor, because you gotta get things done on time for people.
What qualifies you to be an underwriter?
Key Takeaways. An underwriter assesses and takes on another party's risk in sectors such as debt and equity markets, mortgages, and insurance. You may need a bachelor's degree that includes coursework in economics, business, accounting, finance, or mathematics to become an underwriter.
What is the average age of an underwriter?
The workforce of Insurance underwriters in 2022 was 122,018 people, with 62.4% woman, and 37.6% men. The average age of male Insurance underwriters in the workforce is 40.8 and of female Insurance underwriters is 44.9, and the most common race/ethnicity for Insurance underwriters is White.
What state pays underwriters the most?
- New York, NY. $107,218 per year. 324 salaries reported.
- Boston, MA. $92,013 per year. 54 salaries reported.
- Houston, TX. $84,560 per year. 42 salaries reported.
- Phoenix, AZ. $79,567 per year. 60 salaries reported.
- Madison, WI. $73,834 per year. 25 salaries reported.
Are underwriters in high demand?
There are currently an estimated 125,500 underwriters in the United States. The underwriter job market is expected to shrink by -2.5% between 2022 and 2032.
What types of underwriters make the most money?
- Chief Underwriter. Salary range: $132,500-$257,000 per year. ...
- Underwriting Director. Salary range: $100,000-$168,500 per year. ...
- Property Underwriter. ...
- Casualty Underwriter. ...
- Underwriting Manager. ...
- Production Underwriter. ...
- Underwriting Consultant. ...
- Senior Underwriter.
How much does a senior underwriter make at Freddie Mac?
The estimated total pay range for a Senior Underwriter at Freddie Mac is $132K–$202K per year, which includes base salary and additional pay.
How much does a senior underwriter at Great American make?
The estimated total pay range for a Senior Underwriter at Great American Insurance Group is $112K–$162K per year, which includes base salary and additional pay.
Who pays the underwriter?
Underwriters who focus on financial investments will work with investors to determine the price of an offering. The insurance underwriting fees will usually be a set amount, while the underwriters who work with investors will receive their fees as a small percentage of the proceeds from the shares.
Can I be an underwriter with no experience?
Gaining relevant experience is crucial for aspiring underwriters. Entry-level positions such as Underwriting Assistant or Junior Underwriter provide opportunities to learn the ropes of risk evaluation and policy writing under the guidance of seasoned professionals.
Do underwriters work from home?
As a remote underwriter, you work from home to review loan applications with the goal of helping a lender decide whether or not a borrower should be offered financial support through insurance, a mortgage, or other loan options.
What is the personality of an underwriter?
Behavioral Qualities for a Insurance Underwriter
Careful in decisions and actions. Prudent. Judicious and discreet. Consistent.
Is underwriting a lot of math?
A bachelor's degree in finance, accounting, mathematics, or business and strong computer, analytical, and mathematical skills are typically required for an underwriter role.
Do underwriters make money?
Underwriters purchase debt securities—such as government bonds, corporate bonds, municipal bonds, or preferred stock—from the issuing body (usually a company or government agency) to resell them for a profit. This profit is known as the underwriting spread.
What is riskiest to the underwriter?
In the securities industry, underwriting risk usually arises if an underwriter overestimates demand for an underwritten issue or if market conditions change suddenly. In such cases, the underwriter may be required to hold part of the issue in its inventory or sell at a loss.
How much do junior underwriters make?
How much does a Junior Underwriter make? The estimated total pay for a Junior Underwriter is $71,312 per year, with an average salary of $65,847 per year.