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As of August 01, 2026, the average salary for an Underwriter in Maryland is $96,862 per year, which breaks down to an hourly rate of $47.
However, an Underwriter's salary can vary significantly. Here’s a look at the typical salary range:
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Underwriter Salaries by Percentile
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $103,546 | $8,629 | $1,991 | $50 |
| Average | $96,862 | $8,072 | $1,863 | $47 |
| 25th Percentile | $88,425 | $7,369 | $1,700 | $43 |
New Freedom Financial LLC - Westminster, MD
Diedre Moire - Silver Spring, MD
Assurance Service, Inc./National Association of Social Workers - Frederick, MD
Encova Insurance - Baltimore, MD
An Underwriter'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'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:
| Levels | Salary |
|---|---|
| Underwrit... Level Underwriter | $62,917 |
| Underwrit... Level Underwriter | $74,131 |
| Underwrit... Level Underwriter | $96,370 |
| Underwrit... Level Underwriter | $112,574 |
| Underwrit... Level Underwriter | $138,721 |
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 Underwriters. 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:
For Underwriter 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 Financial Services and Healthcare 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 as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $145,292 | $70.0 | 50% |
| Healthcare | $116,234 | $56.0 | 20% |
| Insurance | $106,548 | $51.0 | 10% |
Understanding how an Underwriter'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 | $103,546 | $8,629 | $1,991 | $50 |
| Average | $96,862 | $8,072 | $1,863 | $47 |
| 25th Percentile | $88,425 | $7,369 | $1,700 | $43 |
Ready to take the next step in your career? Browse thousands of current Underwriter job openings on our job board. Use the search bar below to find your perfect match.
AssuredPartners
Cockeysville, MD
AssuredPartners | Cockeysville, MD
Employee Benefits Underwriter Level 2. At AssuredPartners, our Center of Excellence is hiring for a remote Employee Benefits Underwriter Level 2 position. ... more
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Housing Opportunity Com
Silver Spring, MD
Housing Opportunity Com | Silver Spring, MD
Job Description. Job Description. Senior Multifamily Underwriter. The Housing Opportunities Commission of Montgomery County (HOC) was established in 1974 t... more
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Allianz
Baltimore, MD
Allianz | Baltimore, MD
Reporting Line: RVP, Specialty UnderwritingDirectly responsible and accountable for the marketing and underwriting of the Surety portfolio for the Allianz ... more
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H.W. Kaufman Group
Cockeysville, MD
H.W. Kaufman Group | Cockeysville, MD
Commercial Lines Underwriter. Summary: When someone needs coverage for the unique, the unusual, or the unconventional, they come to Burns & Wilcox. Burns &... more
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Housing Opportunities Commission of Mont
Silver Spring, MD
Housing Opportunities Commission of Mont | Silver Spring, MD
Senior Multifamily Underwriter. The Housing Opportunities Commission of Montgomery County (HOC) was established in 1974 to better respond to the County's n... more
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INTEGRIS Health
MIAMI, OK
INTEGRIS Health | MIAMI, OK
Join our team as a Day Shift, Full-Time Outpatient / Acute Occupational Therapist at INTEGRIS Health Miami Hospital in Miami, OK. You may be eligible for a... more
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