The salary of an Underwriter I in the United States varies depending on several factors, including experience, location, education level, marketing trend and company sizes.
As of April 01, 2025, the average annual salary for an Underwriter I in the United States is $60,526. According to Salary.com, salaries can range from a low of $47,630 to a high of $73,786, with most professionals earning between $53,776 and $67,467.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $67,467 | $5,622 | $1,297 | $32 |
| Average | $60,526 | $5,044 | $1,164 | $29 |
| 25th Percentile | $53,776 | $4,481 | $1,034 | $26 |
An entry-level Underwriter I with less than 1 year of experience earns about $60,022. With 1-2 years of experience, the average salary increases to $60,526. For 2-4 years of experience, the pay typically rises to $61,769. Senior-level professionals with 5-8 years of experience earn around $62,598, and those with over 8 years of experience can expect an average of $62,805.
| Levels | Salary |
|---|---|
| Entry Level Underwriter I | $60,022 |
| Intermediate Level Underwriter I | $60,526 |
| Senior Level Underwriter I | $61,769 |
| Specialist Level Underwriter I | $62,598 |
| Expert Level Underwriter I | $62,805 |
| Entry Level | 1% |
| Mid Level | 0% |
| Senior Level | 2% |
| Top Level | 3% |
| Experienced | 4% |
Salaries in the United States differ widely between states due to factors like cost of living, local economies, and industry presence.
What Am I Worth?
Salaries in the United States can vary greatly between cities due to factors like cost of living, local economies, and industry presence.
As of April 01, 2025, our research reveals a significant shift in Underwriter I compensation over the past six years. For example, the median salary increased from $66,032 in 2023 to approximately $64,558 in 2024. (For a detailed analysis of Underwriter I salary trends, click here.)
Key factors like location, experience, industry demand, and economic growth significantly influence salary variations, making them important to consider.
Salary.com job board provides millions of Underwriter I information for you to search for. Click on search button below to see Underwriter I job openings or enter a new job title here.
Here are companies hiring for Underwriter I and their salaries, click below for more details.
| Core Compensation | ||||
| Core Compensation | Median | % of Total | ||
| Base Salary | $60,526 | 70.9% | ||
| Bonus | $0 | 0.0% | ||
| Value of Benefits | ||||
| Core Compensation | Median | % of Total | ||
| Social Security | $4,630 | 5.4% | ||
| 401K/403B | $2,845 | 3.3% | ||
| Disability | $484 | 0.6% | ||
| Healthcare | $6,056 | 7.1% | ||
| Pension | $3,329 | 3.9% | ||
| Time Off | $7,449 | 8.7% | ||
| Total Compensation | $85,319 | 100% | ||
| Degree Level | % of user with this level of education |
|---|---|
| High School | 17.6% |
| Associates | 6.5% |
| Bachelors | 61.1% |
| Masters | 14.8% |
What Am I Worth?
The average annual salary of Underwriter I is $60,526. In case you are finding an easy salary calculator, the average hourly pay of Underwriter I is $29; the average weekly pay of Underwriter I is $1,164; the average monthly pay of Underwriter I is $5,044.
An Underwriter I's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, an Underwriter I earns the most in San Jose, CA, where the annual salary of an Underwriter I is $76,341.
The highest pay for Underwriter I is $73,786.
The lowest pay for Underwriter I is $47,630.
Reviews and analyzes risk characteristics on insurance applications, renewals, and change requests. Utilizes underwriting guidelines, rules, standards, and levels of authority to accept, reject, or mitigate risk for applications and determine appropriate premiums, limits, and coverages. Calculates renewal rates. Ensures that underwriting activities comply with all industry and governmental regulations. May coordinate with field agents to collect or clarify information or decisions. Typically requires a bachelor's degree or equivalent. Typically reports to a supervisor or manager. Work is closely managed. Works on projects/matters of limited complexity in a support role. Typically requires 0-2 years of related experience.
Specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Health Insurance: Health insurance is a type of insurance coverage that pays for health and medical expenses. Health insurance covers some or all of the costs of routine care, emergency care, and treatment for chronic illnesses.
Financial Accounting: Financial accounting (or financial accountancy) is the field of accounting concerned with the summary, analysis and reporting of financial transactions related to a business. This involves the preparation of financial statements available for public use. Stockholders, suppliers, banks, employees, government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes. Financial accountancy is governed by both local and international accounting standards. Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements. On the other hand, International Financial Reporting Standards (IFRS) is a set of passionable accounting standards stating how particular types of transactions and other events should be reported in financial statements. IFRS are issued by the International Accounting Standards Board (IASB). With IFRS becoming more widespread on the international scene, consistency in financial reporting has become more prevalent between global organizations.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.
