How Much Does an Underwriting Associate Make in 2025?
Underwriting Associates evaluate credit, loan, or insurance applications by analyzing financial and background information to assess risk. They determine eligibility and terms to help minimize losses while supporting business growth. Working closely with senior underwriters, they contribute to risk assessment and ensure compliance with regulations.
The U.S. Bureau of Labor Statistics (BLS) expects the number of underwriting associate jobs to decline by 4% over the next ten years. Despite that, it's still expected to produce an estimated 7,800 job openings every year from 2023 to 2033. Salary.com reports that the average salary of underwriting associates in 2025 is $54,101 per year.
This guide presents an overview of underwriting associate salaries, including salary data in every state and city in the US, key factors that influence them, and proven tips for increasing earnings.
What is the Average Underwriting Associate's Salary?
According to Salary.com, the average salary for underwriting associates in the United States for 2025 is $54,101 per year.
2025 Average Salary for Underwriting Associates: $54,101 per year ($26 per hour)
As of this writing, the average underwriting associate income is $26 per hour, with hourly wages that can go up to $31 or down to $20. Meanwhile, the average weekly and monthly salaries for underwriting associates are $1,040 and $4,508, respectively.
What is the Pay Range for an Underwriting Associate?
Salary.com reveals that the salary range for underwriting associates starts at $42,447 per year and can reach as high as $64,417. However, it's also important to note that this salary range for underwriting associates may vary and is heavily affected by key factors including education, level of experience, geographic location, and occupation demand.
Underwriting Associate Salary Range: $42,447 to $64,417 per year ($20 to $31 per hour)
| Percentile | By Hour | By Week | By Month | By Year |
|---|---|---|---|---|
| 10th Percentile | $20 | $816 | $3,537 | $42,447 |
| 25th Percentile | $23 | $923 | $4,000 | $48,001 |
| 50th Percentile (Median) | $26 | $1,040 | $4,508 | $54,101 |
| 75th Percentile | $29 | $1,144 | $4,958 | $59,501 |
| 90th Percentile | $31 | $1,239 | $5,368 | $64,417 |
Salary.com also reported that the average total compensation received by underwriting associates is $82,536. This already includes benefits and average additional cash compensation such as bonuses, health insurance, and time off.
Underwriting Associate Salary Factors
As previously mentioned, several factors can affect underwriting associate salaries. These include experience, location, and skills. Let's explore each of these in detail.
Years of Experience
The average salary for underwriting associates, based on years of experience, ranges from $52,653 per year for entry-level underwriting associates to $58,634 per year for expert-level underwriting associates with 8+ years of experience.
| Levels | Years of Experience | Average Salary per year |
|---|---|---|
| Entry Level Underwriting Associate | <1 | $52,653 |
| Intermediate Level Underwriting Associate | 1-2 | $53,393 |
| Senior Level Underwriting Associate | 2-4 | $55,336 |
| Specialist Level Underwriting Associate | 5-8 | $57,557 |
| Expert Level Underwriting Associate | 8+ | $58,634 |
Place of Work
BLS reported that the specific workplace significantly influences underwriting associate salaries. For instance, an underwriting associate working in the credit intermediation and related activities industry can earn as much as $90,000 in 2023. This figure is about 12% higher than the salaries of underwriting associates in the insurance agencies and brokerage sector.
| Place of Work | Median Annual Salary |
|---|---|
| Credit Intermediation and Related Activities | $90,000 |
| Other Insurance Related Activities | $81,870 |
| Direct Health and Medical Insurance Carriers | $81,240 |
| Direct Insurance (Except Life, Health, and Medical Carriers) | $79,350 |
| Insurance Agencies and Brokerage | $79,200 |
Skill Set
Underwriting associates with certain in-demand skills are also in line to increase their salaries. For instance, the Real-time Job Posting Salary Data Report shows that an underwriting associate with skills in group insurance can earn up to 11.73% more than those without.
On the other hand, an underwriting associate having insurance legal and regulatory environment skills is more likely to land a job with 10.80% demand.
| Skill | Demand | Salary Increase |
|---|---|---|
| Group Insurance | 10.50% | +11.73% |
| Data Collection | 10.00% | +8.71% |
| Insurance Legal and Regulatory Environment | 10.80% | +8.55% |
| Data Analytics | 10.00% | +8.43% |
| Billing | 10.00% | +7.58% |
| Data Entry | 10.40% | +7.54% |
Underwriting Associate Salary by City and State
A city or state must ensure compliance with the state minimum wage; therefore, the choice of location can also significantly impact the earning potential for this job title in the US. Talented and experienced underwriting associates can take advantage of this information to identify the most strategic locations for both living and working.
Highest Paying States for Underwriting Associates
Based on the Salary.com data, the District of Columbia offers the highest median annual wage for underwriting associates in the United States, at $59,801.
- District of Columbia: $59,801 per year (or $29 per hour)
- California: $59,601 per year (or $29 per hour)
- New Jersey: $58,601 per year (or $28 per hour)
- Massachusetts $58,801 per year (or $28 per hour)
- Alaska: $58,501 per year (or $28 per hour)
Underwriting Associate Salary by State
| State | Average Annual Salary |
|---|---|
| Alaska | $58,501 |
| Alabama | $49,701 |
| Arkansas | $48,801 |
| Arizona | $42,701 |
| California | $59,601 |
| Colorado | $55,101 |
| Connecticut | $57,801 |
| District of Columbia | $59,801 |
| Delaware | $54,701 |
| Florida | $51,101 |
| Georgia | $52,101 |
| Hawaii | $56,501 |
| Iowa | $51,701 |
| Idaho | $50,501 |
| Illinois | $55,101 |
| Indiana | $51,901 |
| Kansas | $51,501 |
| Kentucky | $50,901 |
| Louisiana | $51,401 |
| Massachusetts | $58,801 |
| Maryland | $55,701 |
| Maine | $52,701 |
| Michigan | $53,201 |
| Minnesota | $55,301 |
| Missouri | $51,401 |
| Mississippi | $48,201 |
| Montana | $51,001 |
| North Carolina | $51,401 |
| North Dakota | $53,401 |
| Nebraska | $50,901 |
| New Hampshire | $54,601 |
| New Jersey | $58,601 |
| New Mexico | $50,101 |
| Nevada | $53,501 |
| New York | $57,501 |
| Ohio | $52,601 |
| Oklahoma | $50,001 |
| Oregon | $54,901 |
| Pennsylvania | $53,801 |
| Rhode Island | $56,001 |
| South Carolina | $50,601 |
| South Dakota | $49,101 |
| Tennessee | $50,501 |
| Texas | $52,701 |
| Utah | $51,801 |
| Virginia | $54,401 |
| Vermont | $53,101 |
| Washington | $58,601 |
| Wisconsin | $53,201 |
| West Virginia | $48,701 |
| Wyoming | $51,801 |
Highest Paying Cities for Underwriting Associates
According to the Salary.com data, the city of San Jose, California is the highest-paying city for underwriting associates with $68,201 per year or $33 per hour. Recent underwriting associate salaries show that the 6 highest paying cities are as follows:
- San Jose, California: $68,201 per year (or $33 per hour)
- San Francisco, California: $67,501 per year ($32 per hour)
- Oakland, California: $66,001 per year ($32 per hour)
- New York, New York: $62,601 per year ($30 per hour)
- Queens Village, New York: $62,201 per year ($30 per hour)
- Paramus, New Jersey: $61,801 per year ($30 per hour)
Ways to Increase Your Salary as an Underwriting Associate
An Underwriting Associate supports the underwriting process by handling data entry, risk assessment, and communication with carriers and internal teams. This role offers a strong foundation for a career in insurance with opportunities for growth and skill development.
- Earn a bachelor's degree in business, finance, insurance, economics, or a related field.
- Gain relevant experience through internships, entry-level insurance roles, or targeted coursework.
- Develop proficiency with Microsoft Office and insurance software.
- Hone communication skills to interpret contract language and collaborate effectively.
- Build knowledge of insurance products, policy provisions, and rating systems.
- Pursue certifications like Associate in Commercial Underwriting (AU) or Chartered Property Casualty Underwriter (CPCU).
- Network within the industry to discover opportunities and mentorship.
- Demonstrate attention to detail, analytical thinking, and strong organization.
Starting as an Underwriting Associate offers valuable hands-on experience in underwriting and risk evaluation. With experience and continued learning, you can advance to more specialized underwriting roles and greater responsibilities. This career rewards technical expertise combined with clear communication and critical thinking.
Average National Salaries by Source
As of August 15, 2025, data references from five major salary-reporting websites indicate that the national average salary for underwriting associates in the US is $54,881 (unweighted).
SALARY.COM AVG. SALARY
$54,101/ year
INDEED.COM AVG. SALARY
$50,980/ year
GLASSDOOR AVG. SALARY
$82,000/ year
PAYSCALE AVG. SALARY
$47,778/ year
ZIPRECRUITER AVG. SALARY
$39,549/ year
