What Is the Average Salary for a Property Underwriter Assistant?
- The U.S. Bureau of Labor Statistics reports entry-level underwriters are hired as assistant underwriters and work under the supervision of a senior underwriter. The 10th to 25th percentile range for underwriter salaries in the United States in 2010 was $36,700 to $45,650 per year, or $17.65 to $21.95 hourly.
- Once an assistant underwriter has worked a few years, the promotion to underwriter can come with a big pay raise. In 2010, the American average salary for underwriters was $65,220 per year, or $31.35 per hour -- a 42.9 percent increase from the upper range of salaries for assistant underwriters.
- The BLS provides averages only for underwriters, not assistant underwriters, by state. However, the numbers are relevant to assistant underwriters because average pay for underwriters affects their assistants' averages and earning potential. The state with the most employed underwriters in 2010 was New York, according to the BLS, with an average salary of $78,110 annually. Nebraska underwriters were paid a mean salary of $59,300 per year. Connecticut was the top-paying state, with a mean $83,310 annually.
- The employer's industry also plays a huge role in determining pay for both assistant underwriters and underwriters. Insurance carriers employed the most underwriters, with a mean $66,310 per year. Agencies, brokerages, and other insurance-related activities employed the second-most underwriters, with a mean $62,210 annually. According to the BLS, underwriters working in other miscellaneous financial investment activities earned an average $78,870 per year.