Salary AI Book a Demo
upper level job

Underwriter I Salary in the United States

How much does an Underwriter I make in the United States?

As of September 01, 2026, the average salary for an Underwriter I in the United States is $60,516 per year, which breaks down to an hourly rate of $29.

However, an Underwriter I's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $72,812
  • Majority Range (25th-75th percentile): $53,565 to $66,952
  • Entry-Level (10th percentile): $47,236
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Underwriter I Salaries

An Underwriter I's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education and company size can directly affect your earning potential.

How Experience Level Affects Underwriter I Salaries?

Experience is a primary driver of an Underwriter I's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:

  • Underwriter I (0-2 years): $60,516
  • Underwriter II (2-4 years): $71,302
  • Underwriter III (4-7 years): $92,694
  • Underwriter IV (7+ years): $108,278
  • Underwriter V (7-10 years): $133,425
Job Role Years of Experience Average Salary
Underwriter I0-2 years$60,516
Underwriter II2-4 years$71,302
Underwriter III4-7 years$92,694
Underwriter IV7+ years$108,278
Underwriter V7-10 years$133,425
View as Graph

How Do Underwriter I Salaries Vary from State to State?

Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Underwriter Is. For example, consider the average annual salaries in these key locations:
  • District of Columbia: $67,003.
  • California: $66,749.
  • Massachusetts: $65,860.

Top Paying Cities for Underwriter Is

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $76,329
  • San Francisco: $75,493
  • Oakland: $73,902

What Skills Can Increase an Underwriter I's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 7.06% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • Financial Services (Mentioned in 1.53% Job Postings): A services provided by the finance industry, which encompasses a broad range of businesses that manage money. These services involve banking, brokerage, mortgages, credit cards, payment services, real estate, investment funds, taxes and accounting.
  • Microsoft Office (Mentioned in 1.23% Job Postings): 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.
Skills Demand Percentage
Analysis 7.06%
Financial Services 1.53%
Microsoft Office 1.23%
See More Skills

What skills can make your compensation higher?

Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on an Underwriter I's salary.

  • Credit Administration: Can increase your salary by up to 29%.
  • Team Operations: Can increase your salary by up to 14%.
  • Due Diligence: Can increase your salary by up to 13%.
Skill Salary Salary % Increase
Credit Administration $78,066
29%
Team Operations $68,988
14%
Due Diligence $68,383
13%
Get Latest Data

Underwriter I Salary by Company Size: Startups vs. Enterprise

Underwriter I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $65,481. While startup companies pay approximate $55,458.

Underwriter I Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $55,458
Growth Stage 51~500 $58,643
Established 501~5000 $63,241
Enterprise 5000+ $65,481

Underwriter I Salary by Industry: Top Paying Sectors

For Underwriter I roles, the industry you choose can affect earning potential by as much as 100% (the gap between the highest and lowest paying industries). Data shows that the Insurance and Financial Services sectors offer the strongest compensation, at 50% above the average. In contrast, Underwriter positions in Retail & Wholesale or Edu., Gov't. & Nonprofit typically offer lower base pay, as these industries often view Underwriter I as a support function rather than a direct revenue driver.

The top paying industries for an Underwriter I

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Insurance$90,774$44.050%
Financial Services$72,619$35.020%
Healthcare$66,568$32.010%

How Education impacts an Underwriter I's Salary?

Your level of education can impact your salary potential. While many Underwriter I enter the field with a Bachelor's Degree, higher education can lead to more specialized and higher-paying roles.

According to our 100% employer-reported salary data, the median salary for an Underwriter I with a Bachelor's Degree is between $58,971 and $62,808.

Underwriter I Salaries by Degree Level

Typical Education for Underwriter I
Degree Level % of user with this level of education
No Diploma 17.6%
High School 17.6%
Associates 6.5%
Bachelors 61.1%
Masters 14.8%
Doctorate 0.0%
View as Graph

Underwriter I Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how an Underwriter I's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on September 01, 2026
$53,565
Average $60,516/year
$66,952
$4,464
Average $5,043/month
$5,579
$1,030
Average $1,164/week
$1,288
$26
Average $29/hour
$32
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $66,952 $5,579 $1,288 $32
Average $60,516 $5,043 $1,164 $29
25th Percentile $53,565 $4,464 $1,030 $26

Underwriter I Salary Growth & Career Path

Underwriter I

Next Role

Advancement

Promotions are the fastest way to increase your earnings. As an Underwriter I, you have the following paths for advancement. The table below compares the salary raises for common next-step roles. By comparing these figures, you can choose the career path that best meets your financial goals.

Next Step Role Estimate Salary Projected Raise
Health Underwriting Cost Analyst $71,175 18%
Underwriter II - Life $71,302 18%
Underwriter - Complex Medical $71,302 18%
Underwriter II - P&C $71,302 18%

Most common benefits for Underwriter I

  • Social Security
  • 401 (k)
  • Disability
  • Healthcare
  • Pension
  • Time Off (days)

Common company salaries for Underwriter I

Here are companies hiring for Underwriter I and their salaries, click below for more details.

Find Your Next Underwriter I Job

Ready to take the next step in your career? Browse thousands of current Underwriter I job openings on our job board. Use the search bar below to find your perfect match.

For Employees

Analyze the market and your qualifications to negotiate your salary with confidence.

Get a Salary Increase

Search thousands of open positions to find your next opportunity.

Search Job Openings

For Employers

Individualize employee pay based on unique job requirements and personal qualifications.

Adjust Employee Salary

Get the latest market price for benchmark jobs and jobs in your industry.

Price My Industry Jobs

FAQ about Underwriter I

1. Where can an Underwriter I earn the most?

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 $76,329.

2. What is the highest pay for Underwriter I?

The highest pay for Underwriter I is $72,812.

3. What is the lowest pay for Underwriter I?

The lowest pay for Underwriter I is $47,236.

4. What are the responsibilities of Underwriter I?

Responsible for reviewing and analyzing risk characteristics on insurance applications, renewals, and change requests. Utilizes underwriting guidelines, rules, and standards to accept, reject, or mitigate risk for applications. Calculates renewal rates, and determines appropriate premiums, limits, and coverages. Ensures compliance with all industry and governmental regulations. May coordinate with field agents to collect or clarify information or decisions. Requires a bachelor's degree. Typically reports to a manager. Work is closely managed. Works on projects/matters of limited complexity in a support role. Typically requires 0-2 years of related experience.

5. What industry pays the highest salary for Underwriter I?

The Insurance industry offers the highest average compensation for Underwriter I roles, with salaries approximately 50% above the market median.

Where Does Our Salary Data Come From?

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.

Are you an HR manager or compensation specialist?

Salary.com's CompAnalyst platform offers:

  • Detailed skills and competency reports for specific positions
  • Job and employee pricing reports
  • Compensation data tools, salary structures, surveys and benchmarks.
Learn about CompAnalyst