How much does an Underwriter II make in Chicago, IL? The average Underwriter II salary in Chicago, IL is $76,624 as of February 26, 2024, but the range typically falls between $68,610 and $88,429. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target. 

Underwriter II Salaries by Percentile
Percentile Salary Location Last Updated
10th Percentile Underwriter II Salary $61,313 Chicago,IL February 26, 2024
25th Percentile Underwriter II Salary $68,610 Chicago,IL February 26, 2024
50th Percentile Underwriter II Salary $76,624 Chicago,IL February 26, 2024
75th Percentile Underwriter II Salary $88,429 Chicago,IL February 26, 2024
90th Percentile Underwriter II Salary $99,176 Chicago,IL February 26, 2024
25% $68,610 10% $61,313 90% $99,176 75% $88,429 $76,624 50%(Median) Didn’t find job title? Click
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What skills does an Underwriter II need?

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.

1.

Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.

2.

Tax Return: Calculating an entity’s income earned with the amount of tax payable to the government, organizations, or potential taxpayers.

3.

Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.

Analysis 0.07%
Tax Return 0.01%
Microsoft Office 0.01%
Others 99.91%

Job Description for Underwriter II

Underwriter II 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. Being an Underwriter II calculates renewal rates. Ensures that underwriting activities comply with all industry and governmental regulations. Additionally, Underwriter II 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. The Underwriter II occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be an Underwriter II typically requires 2-4 years of related experience. (Copyright 2024 Salary.com)... View full job description

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Job Openings for Underwriter II in Chicago, IL

Career Path for Underwriter II

A career path is a sequence of jobs that leads to your short- and long-term career goals. Some follow a linear career path within one field, while others change fields periodically to achieve career or personal goals.

For Underwriter II, the first career path typically starts with a Health Underwriter, Sr. position, and then Health Underwriting Manager.

The second career path typically starts with an Underwriter (Life) III position, and then progresses to Life Underwriting Supervisor.

The third career path typically starts with an Underwriter (P/C) III position, and then progresses to Underwriter (P/C) IV.

Additionally, the fourth career path typically starts with an Underwriter III position, and then progresses to Underwriter IV.

Those that have already made the climb...
Pamela J. Shelley-Kessler, Co-President, Chief Financial Officer and Corporate Secretary
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC's investment portfolio includes 208 properties in 27 states wi... More
Fiscal Year Ended in 2022
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Underwriter II salary varies from city to city. Compared with national average salary of Underwriter II, the highest Underwriter II salary is in San Francisco, CA, where the Underwriter II salary is 25.0% above. The lowest Underwriter II salary is in Miami, FL, where the Underwriter II salary is 2.9% lower than national average salary.

City, State Compared to national average
City, State San Francisco, CA Compared to national average
+ 25.0%
City, State Washington, DC Compared to national average
+ 11.3%
City, State Miami, FL Compared to national average
-2.9%
City, State Chicago, IL Compared to national average
+ 5.5%
City, State Boston, MA Compared to national average
+ 12.7%
City, State New York, NY Compared to national average
+ 17.5%
City, State Dallas, TX Compared to national average
-0.7%

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Average Base Salary

Core compensation

 
 
 
68610
88429
76624

Average Total Cash Compensation

Includes base and annual incentives

 
 
 
71288
94068
80348
These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Underwriter II in Chicago, IL. The base salary for Underwriter II ranges from $68,610 to $88,429 with the average base salary of $76,624. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $71,288 to $94,068 with the average total cash compensation of $80,348.
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68610
88429

 

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About Chicago, Illinois    Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third mos....More

Chicago, Illinois  area prices were up 0.8% from a year ago    View the Cost of Living in Chicago, Illinois

Underwriter II Salary in popular cities: AuroraRockfordJoliet

Skills associated with Underwriter II: Loss Run Analysis, Risk Analysis, Contract Review, Policy Analysis ...More

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