As of March 01, 2025, the average annual salary for a Vice President of Underwriting in Grand Rapids, MI is $305,710. Salary.com reports that pay typically ranges from $252,930 to $361,090, with most professionals earning between $204,877 and $411,511.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $361,090 | $30,091 | $6,944 | $174 |
| Average | $305,710 | $25,476 | $5,879 | $147 |
| 25th Percentile | $252,930 | $21,078 | $4,864 | $122 |
An entry-level Vice President of Underwriting with under 1 year experience makes about $270,253. With less than 2 years of experience, a mid-level Vice President of Underwriting makes around $274,927. After 2-4 years, the Vice President of Underwriting pay rises to about $281,160. Those senior Vice President of Underwriting with 5-8 years of experience earn roughly $290,508, and those Vice President of Underwriting having 8 years or more experience are expected to earn about $302,194 on average.
| Levels | Salary |
|---|---|
| Entry Level Vice President of Underwriting | $270,253 |
| Intermediate Level Vice President of Underwriting | $274,927 |
| Senior Level Vice President of Underwriting | $281,160 |
| Specialist Level Vice President of Underwriting | $290,508 |
| Expert Level Vice President of Underwriting | $302,194 |
| Entry Level | 12% |
| Mid Level | 10% |
| Senior Level | 8% |
| Top Level | 5% |
| Experienced | 1% |
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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.
Accounting: Creating financial statements and reports based on the summary of financial and business transactions.
Data Mining: Data mining is the process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. Data mining is an interdisciplinary subfield of computer science and statistics with an overall goal to extract information (with intelligent methods) from a data set and transform the information into a comprehensible structure for further use. Data mining is the analysis step of the "knowledge discovery in databases" process, or KDD. Aside from the raw analysis step, it also involves database and data management aspects, data pre-processing, model and inference considerations, interestingness metrics, complexity considerations, post-processing of discovered structures, visualization, and online updating. The difference between data analysis and data mining is that data analysis is used to test models and hypotheses on the dataset, e.g., analyzing the effectiveness of a marketing campaign, regardless of the amount of data; in contrast, data mining uses machine-learning and statistical models to uncover clandestine or hidden patterns in a large volume of data.
| Skill | Salary | Demand |
|---|---|---|
|
Insurance Law
|
$357,681 |
17%
|
|
Flexibility
|
$354,624 |
16%
|
|
Data Analysis
|
$348,509 |
14%
|
|
Products and Services
|
$330,167 |
8%
|
|
Partnering
|
$330,167 |
8%
|
|
Loan Review
|
$327,110 |
7%
|
