As of March 01, 2025, the average annual salary for a Insurance Underwriter I in Rapid City, SD is $55,800. Salary.com reports that pay typically ranges from $49,840 to $63,330, with most professionals earning between $44,414 and $70,186.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $63,330 | $5,278 | $1,218 | $30 |
| Average | $55,800 | $4,650 | $1,073 | $27 |
| 25th Percentile | $49,840 | $4,153 | $958 | $24 |
An entry-level Insurance Underwriter I with under 1 year experience makes about $54,687. With less than 2 years of experience, a mid-level Insurance Underwriter I makes around $55,127. After 2-4 years, the Insurance Underwriter I pay rises to about $56,458. Those senior Insurance Underwriter I with 5-8 years of experience earn roughly $57,345, and those Insurance Underwriter I having 8 years or more experience are expected to earn about $57,567 on average.
| Levels | Salary |
|---|---|
| Entry Level Insurance Underwriter I | $54,687 |
| Intermediate Level Insurance Underwriter I | $55,127 |
| Senior Level Insurance Underwriter I | $56,458 |
| Specialist Level Insurance Underwriter I | $57,345 |
| Expert Level Insurance Underwriter I | $57,567 |
| Entry Level | 2% |
| Mid Level | 1% |
| Senior Level | 1% |
| Top Level | 3% |
| Experienced | 3% |
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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.
| Skill | Salary | Demand |
|---|---|---|
|
Credit Administration
|
$71,982 |
29%
|
|
Team Operations
|
$63,612 |
14%
|
|
Due Diligence
|
$63,054 |
13%
|
|
Self Motivation
|
$62,496 |
12%
|
|
Accountability
|
$61,938 |
11%
|
|
Financial Accounting
|
$60,822 |
9%
|
