Insurance Underwriters: Salary, Job Description, How To Become One, and Quiz

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Insurance Underwriters career information
pros and cons of being an Insurance Underwriter

Insurance Underwriters

review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.

$76880
Salary
70%
Job Satisfaction
Hard
Becoming One
Declining
Job Growth
Suitable Personality

Insurance Underwriters

Salary, Job Description, How To Become One, and More


In this career summary, you will find out what the job of an Insurance Underwriter is about and what it is like.

After reading this, you will have a good idea on what the job is about and decide if this is the right career for you.



Job description

Insurance Underwriters review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.


    Read more about what does an Insurance Underwriter really do at work and what is it like being and working as one.




    Become one

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    Salary

    Average salary
    $76880 per year

    Average hourly wage
    $37 per hour


    Insurance Underwriters with little to no experience tend to make between $42260 and $53200 while the more experienced ones can earn over $93550 per year.

    Top 5 paying statesHourlyAnnual
    NY$45$92,810
    NJ$43$88,510
    CA$42$88,140
    DC$42$87,010
    CT$41$85,010

    One of the easiest ways to increase your salary as an Insurance Underwriter is to move to a higher paying state like NY. Right now, the highest paying states for Insurance Underwriters are NY, NJ, CA, DC and CT.

    However a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be twice as high than where you are currently at now.

    Three other factors that can increase your salary as an Insurance Underwriter is the degree you hold, the industry you work in and lastly the company you work for.



    Requirements

    Recommended degree level
    Bachelor’s Degree

    We asked other Insurance Underwriters what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a High School Diploma.

    Other than that, we also asked them what did they major in and here are the most popular majors that came up.

    Actuarial Science
    Insurance

    Read more about how to become an Insurance Underwriter and the degree, training and education you need.



    Pros and Cons

    Here are some of the pros and cons of being an Insurance Underwriter.

    PROS
    Suitable for people who likes to follow routines
    Suitable for people who values relationships between co-workers and customers and wants to work in a friendly non-competitive environment
    This career is perfect for people who love to work indoors.
    Very good salary
    CONS
    Not suitable for people who likes to work with designs
    It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
    Demand for this career is declining



    What is the job like

    Job satisfaction
    70%

    Is this job meaningful
    37%


    70% of Insurance Underwriters said they were satisfied with their job and 37% said they feel like their job is making other people’s lives better.



    Is this right for me

    Best personality for this career
    The Organizers and The Entrepreneurs


    You can read more about these career personality types here.

    People who are suitable for this job tends to like following set procedures and routines. They like working with data and details more than with ideas..

    They also like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business.



    How we can help

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