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As of August 01, 2026, the average salary for an Underwriter in Michigan is $92,512 per year, which breaks down to an hourly rate of $44.
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 | $98,897 | $8,241 | $1,902 | $48 |
| Average | $92,512 | $7,709 | $1,779 | $44 |
| 25th Percentile | $84,454 | $7,038 | $1,624 | $41 |
SET SEG - East Lansing, MI
Michigan Staffing - Detroit, MI
United Wholesale Mortgage - Pontiac, MI
Auto-Owners Insurance - Traverse City, MI
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 | $60,092 |
| Underwrit... Level Underwriter | $70,802 |
| Underwrit... Level Underwriter | $92,043 |
| Underwrit... Level Underwriter | $107,519 |
| Underwrit... Level Underwriter | $132,492 |
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 | $138,768 | $67.0 | 50% |
| Healthcare | $111,015 | $53.0 | 20% |
| Insurance | $101,763 | $49.0 | 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 | $98,897 | $8,241 | $1,902 | $48 |
| Average | $92,512 | $7,709 | $1,779 | $44 |
| 25th Percentile | $84,454 | $7,038 | $1,624 | $41 |
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.
AD Mortgage
Troy, MI
AD Mortgage | Troy, MI
Job Description. Job Description. About this opportunity. At. AD Mortgage. we’ve been helping clients achieve their homeownership dreams for over 20 years ... more
6 Days Ago
AD Mortgage
Troy, MI
AD Mortgage | Troy, MI
Job Description. Job Description. The Mission: Become a Master Underwriter. At. AD Mortgage. we don’t just hire Underwriters. we build them. We are looking... more
6 Days Ago
Allied Insurance Managers Inc.
Rochester, MI
Allied Insurance Managers Inc. | Rochester, MI
Job Description. Job Description. We’re rapidly expanding and looking for an insurance underwriting assistant to help move insurance policy decisions forwa... more
7 Days Ago
Diedre Moire
Grand Rapids, MI
Diedre Moire | Grand Rapids, MI
Insurance Auto Dealership Underwriter - Grand Rapids, MI Insurance Underwriter Underwriting Production Underwriter Franchise Auto Dealerships Motorocycle T... more
8 Days Ago
Insight HRM
East Lansing, MI
Insight HRM | East Lansing, MI
Job Description. Job Description. Hybrid-Remote Work Available. Insight HRM is conducting a search for an experienced SBA Underwriter for the Michigan Cert... more
6 Days Ago
Member First Mortgage LLC
Grand Rapids, MI
Member First Mortgage LLC | Grand Rapids, MI
Job Description. Job Description. UnderwriterJob Details. Job Location. Remote. Position Type. Full Time. Schedule. Monday–Friday, 8:30 AM–5:00 PM. Descrip... more
6 Days Ago
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