As of July 01, 2026, the average salary for an Underwriter I in Kentucky is $56,947 per year, which breaks down to an hourly rate of $27.
However, an Underwriter I's salary can vary significantly. Here’s a look at the typical salary range:
Compensation Planning
Develop a Job Description
Pay Equity
2026 Compensation Trend
AI-Powered HR
AI Onboarding
Underwriter I Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $62,978 | $5,248 | $1,211 | $30 |
| Average | $56,947 | $4,746 | $1,095 | $27 |
| 25th Percentile | $50,400 | $4,200 | $969 | $24 |
Auto-Owners Insurance - Lexington, KY
Zurich North America - , KY
Diedre Moire - Covington, KY
Zurich North America - , KY, United States, KY
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, and company size can directly affect your earning potential.
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:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Underwriter I | 0-2 years | $56,947 |
| Underwriter II | 2-4 years | $67,097 |
| Underwriter III | 4-7 years | $87,225 |
| Underwriter IV | 7+ years | $101,893 |
| Underwriter V | 7-10 years | $125,560 |
What Am I Worth?
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:
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:
Underwriter I salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $61,678. While startup companies pay approximate $52,229.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $52,229 |
| Growth Stage | 51~500 | $55,226 |
| Established | 501~5000 | $59,580 |
| Enterprise | 5000+ | $61,678 |
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.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Insurance | $85,421 | $41.0 | 50% |
| Financial Services | $68,337 | $33.0 | 20% |
| Healthcare | $62,642 | $30.0 | 10% |
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.
| Annual Salary | Monthly Pay | Weekly Pay | Hourly Wage | |
|---|---|---|---|---|
| 75th Percentile | $62,978 | $5,248 | $1,211 | $30 |
| Average | $56,947 | $4,746 | $1,095 | $27 |
| 25th Percentile | $50,400 | $4,200 | $969 | $24 |
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 | $66,634 | 17% |
| Underwriter II - Life | $67,097 | 18% |
| Underwriter - Complex Medical | $67,097 | 18% |
| Underwriter II - P&C | $67,097 | 18% |
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.
Get a Salary Increase
Analyze the market and your qualifications to negotiate your salary with confidence.
Search Job Openings
Search thousands of open positions to find your next opportunity.
Adjust Employee Salary
Individualize employee pay based on unique job requirements and personal qualifications.
Price My Industry Jobs
Get the latest market price for benchmark jobs and jobs in your industry.
Use Salary.com's Cost of Living Calculator to find out what income you need to maintain your standard of living in a different city and how much more or less money you need to budget for basic expenses.
Explore Cost of Living CalculatorSalary.com experts will help you thrive your workplaces.
Salary.com provides salary survey data for thousands of industry Jobs.
Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.
Salary.com's CompAnalyst platform offers:
