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As of August 01, 2026, the average salary for an Underwriter in Virginia is $94,598 per year, which breaks down to an hourly rate of $45.
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 | $101,126 | $8,427 | $1,945 | $49 |
| Average | $94,598 | $7,883 | $1,819 | $45 |
| 25th Percentile | $86,358 | $7,196 | $1,661 | $42 |
Auto-Owners Insurance - Forest, VA
Stewart - Richmond, VA
Sentara - Virginia Beach, VA
Sentara - Norfolk, VA
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 | $61,446 |
| Underwrit... Level Underwriter | $72,398 |
| Underwrit... Level Underwriter | $94,118 |
| Underwrit... Level Underwriter | $109,943 |
| Underwrit... Level Underwriter | $135,478 |
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 | $141,896 | $68.0 | 50% |
| Healthcare | $113,517 | $55.0 | 20% |
| Insurance | $104,057 | $50.0 | 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 | $101,126 | $8,427 | $1,945 | $49 |
| Average | $94,598 | $7,883 | $1,819 | $45 |
| 25th Percentile | $86,358 | $7,196 | $1,661 | $42 |
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.
Kinsale Management, Inc
Richmond, VA
Kinsale Management, Inc | Richmond, VA
Job Description. Job Description. Launch Your Career in Underwriting with a Top-Performing E&S Insurer. Are you a recent college graduate or career changer... more
6 Days Ago
W.R. Berkley
Glen Allen, VA
W.R. Berkley | Glen Allen, VA
Berkley Aspire Job Post. Berkley Aspire is an excess & surplus lines insurer of commercial risks unable to find a home in the standard markets. We are an o... more
7 Days Ago
W.R. Berkley
Glen Allen, VA
W.R. Berkley | Glen Allen, VA
Berkley Aspire Job Post. Berkley Aspire is an excess & surplus lines insurer of commercial risks unable to find a home in the standard markets. We are an o... more
8 Days Ago
Andrews Federal Credit Union
Chantilly, VA
Andrews Federal Credit Union | Chantilly, VA
Commercial Underwriter. When you choose a job at Andrews Federal Credit Union, you give yourself the opportunity to grow, advance and make a difference. An... more
8 Days Ago
W.R. Berkley
Glen Allen, VA
W.R. Berkley | Glen Allen, VA
Casualty Underwriter. At Verus Specialty Insurance, a proud member of the esteemed W.R. Berkley Corporation, we stand as a leading Excess and Surplus Lines... more
10 Days Ago
W.R. Berkley
Glen Allen, VA
W.R. Berkley | Glen Allen, VA
Senior Underwriter. Berkley Mid-Atlantic Insurance Group is a member of W. R. Berkley Corporation, a Fortune 500 company that is listed on the New York Sto... more
9 Days Ago
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