As of May 18, 2021, the average salary for an Underwriting Manager in the United States is $119,594 per year, which breaks down to an hourly rate of $57.
However, an Underwriting Manager's salary can vary significantly. Here’s a look at the typical salary range:
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An Underwriting Manager'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, education and company size can directly affect your earning potential.
Experience is a primary driver of an Underwriting Manager'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 V | 7-10 years | $133,464 |
| Underwriting Supervisor | 10+ years | $104,424 |
| Underwriting Manager | 10+ years | $119,594 |
| Underwriting Senior Manager | 10+ years | $162,996 |
| Underwriting Director | 10+ years | $196,352 |
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 Underwriting Managers. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Leadership | 4.56% |
| Quality Control | 1.14% |
| Wholesale | 0.87% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Reinsurance
|
$124,378 |
4%
|
|
Pricing
|
$123,182 |
3%
|
|
Presentation
|
$123,182 |
3%
|
|
Products and Services
|
$121,986 |
2%
|
|
Decision Making
|
$121,986 |
2%
|
|
Initiative
|
$121,986 |
2%
|
Your level of education can impact your salary potential. While many Underwriting Managers enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for an Underwriting Manager with a Bachelor's Degree is between $126,430 and $137,032).
Underwriting Manager Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 0.5% |
| High School | 12.7% |
| Associates | 9.8% |
| Bachelors | 51.2% |
| Masters | 24.4% |
| Doctorate | 1.5% |
Understanding how an Underwriting Manager'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.
Last Updated on May 18, 2021Promotions are the fastest way to increase your earnings. As an Underwriting Manager, 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 Director | $163,394 | 37% |
| Life Underwriting Director | $163,394 | 37% |
| Property Casualty Underwriting Director | $222,182 | 86% |
| Underwriting Senior Manager | $162,996 | 36% |
Salaries for an Underwriting Manager can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $119,242 in 2023 to around $116,486 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Underwriting Manager salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $119,242 |
| 2024 | $118,085 |
| 2025 | $116,486 |
| 2026 |
View More
|
| 2027 |
View More
|
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An Underwriting Manager's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, an Underwriting Manager earns the most in San Jose, CA, where the annual salary of an Underwriting Manager is $150,844.
The highest pay for Underwriting Manager is $135,739.
The lowest pay for Underwriting Manager is $105,216.
Manages daily operations of the underwriting process. Implements underwriting strategy and operational policies for product lines. Oversees the review and approval process for decisions and recommendations related to complex cases. Defines and establishes procedures for risk criteria, application and renewal, and acceptance and rejection. Develops underwriting team expertise with coaching, support and educational programs. Requires a bachelor's degree. Typically reports to a senior manager. Manages subordinate staff in the day-to-day performance of their jobs. True first level manager. Ensures that project/department milestones/goals are met and adhering to approved budgets. Has full authority for personnel actions. Typically requires 5 years experience in the related area as an individual contributor. 1 - 3 years supervisory experience may be required. Extensive knowledge of the function and department processes.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
With the most extensive online, real-time compensation data available, Salary.com helps you pinpoint your exact pay target.
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