How to hire an Underwriter

How to hire an underwriter, step by step

Here's a step-by-step underwriter hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write an underwriter job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new underwriter
• Step 8: Go through the hiring process checklist

What does an Underwriter do?

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1. Identify your hiring needs

   Before you start hiring an underwriter, identify what type of worker you actually need. Certain positions might call for a full-time employee, while others can be done by a part-time worker or contractor.

   Determine Employee vs Contractor Status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   You should also consider the ideal background you'd like them an underwriter to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire an underwriter that fits the bill.

   This list presents underwriter salaries for various positions.

   Type Of Underwriter	Description	Hourly Rate
   Underwriter	Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.	$18-46
   Mortgage Consultant	A mortgage consultant is a professional who helps customers and businesses identify the best option for mortgage deals based on their financial resources. To maintain an excellent relationship with clients, mortgage consultants must possess a broad knowledge of the company's products to answer all the clients' queries and concerns... Show More	$11-30
   Loan Analyst	A loan analyst is responsible for determining the eligibility of loan applicants in purchasing loan services by analyzing their application documents, account statements, and financial and credit status. Loan analysts evaluate loan agreements and payment plans and explain feasibility to the customers and loan officers before granting the loan... Show More	$11-27

   Show more

2. Create an ideal candidate profile

   Common Skills:

   • Customer Service
   • Investor Guidelines
   • Mortgage Loans
   • Underwriting Guidelines
   • Financial Statements
   • FHA
   • Credit Decisions
   • Underwriting Process
   • Financial Analysis
   • Excellent Interpersonal
   • Strong Analytical
   • Income Documentation
   • Loan Applications
   • Tax Returns

   Check All Skills

   Responsibilities:

   • Attain Jr. underwriter status and AUS underwriting authority.
   • Manage AUS findings and analyze approvals and results accordingly.
   • Complete initial review of appraisals, borrower credit documents, and DU/LP findings according to Fannie Mae and investor guidelines.
   • Research and develop SBA program.
   • Work on project putting together HPR policy.
   • Resolve issues preventing final disposition of REO properties.

   More Underwriter duties

3. Make a budget

   Including a salary range in your underwriter job description is one of the best ways to attract top talent. An underwriter can vary based on:

   • Location. For example, underwriters' average salary in alaska is 49% less than in massachusetts.
   • Seniority. Entry-level underwriters 59% less than senior-level underwriters.
   • Certifications. An underwriter with certifications usually earns a higher salary.
   • Company. Working for an established firm or a new start-up company can make a big difference in an underwriter's salary.

   Average underwriter salary

   $61,751yearly

   $29.69 hourly rate

   ---

   Entry-level underwriter salary

   $39,000 yearly salary

   Updated March 29, 2025

   Average underwriter salary by state

   Rank	State	Avg. Salary	Hourly Rate
   1	Massachusetts	$82,491	$40
   2	New York	$82,136	$39
   3	California	$78,232	$38
   4	Connecticut	$73,156	$35
   5	Pennsylvania	$73,145	$35
   6	District of Columbia	$71,962	$35
   7	New Jersey	$68,526	$33
   8	Washington	$66,722	$32
   9	Colorado	$65,496	$31
   10	North Carolina	$65,347	$31
   11	Illinois	$64,999	$31
   12	Michigan	$64,187	$31
   13	Virginia	$63,605	$31
   14	Texas	$62,731	$30
   15	Arizona	$62,442	$30
   16	Oregon	$61,730	$30
   17	Maryland	$61,723	$30
   18	Ohio	$61,588	$30
   19	Wisconsin	$59,249	$28
   20	Kansas	$58,819	$28

   Average underwriter salary by company

   Company

   Rank	Company	Average Salary	Hourly Rate	Job Openings
   1	Google	$124,913	$60.05
   2	Priority Techno Holdings Inc.	$115,427	$55.49
   3	Banco Bilbao Vizcaya Argentaria	$112,307	$53.99
   4	Lemonade	$109,716	$52.75
   5	Low Income Investment Fund	$108,498	$52.16
   6	Santander Private Banking International	$103,982	$49.99
   7	Redwood Trust	$101,165	$48.64	2
   8	Baird	$100,557	$48.34
   9	Fora Financial	$100,540	$48.34
   10	City of Detroit	$99,941	$48.05
   11	W. R. Berkley	$99,582	$47.88	54
   12	Citi	$98,728	$47.47	23
   13	AIG	$97,657	$46.95	45
   14	Berkshire Hathaway	$97,191	$46.73	23
   15	Wipro Limited	$93,212	$44.81
   16	PEAK6	$92,652	$44.54	2
   17	Chubb	$92,146	$44.30	265
   18	Leumi	$91,855	$44.16
   19	First Foundation	$90,738	$43.62	2
   20	Signature Bank	$90,573	$43.54

4. Writing an Underwriter Job Description

   A good underwriter job description should include a few things:

   • Summary of the role
   • List of responsibilities
   • Required skills and experience

   Including a salary range and the first name of the hiring manager is also appreciated by candidates. Here's an example of an underwriter job description:

   Underwriter job description example

   Built on meritocracy, our unique company culture rewards self-starters and those who are committed to doing what is best for our customers.
   Halcyon Underwriters seeks a Production Underwriter to join our team in Maitland, FL.
   
   High performers for this position tend to be fast paced, analytical, intuitive, detail oriented and possess generally good business instincts & critical thinking skills.
   
   WHAT YOU'LL DO:
   Underwrite, quote and write new business. Review, underwrite and re-market renewal business as necessary. Develop and achieve annual sales goals. Maintain production reports and attend all sales meetings. Troubleshoot on existing accounts, handling the account whenever a situation arises. Supervise the daily activities of the assistant underwriters for new and renewal business. Maintain and develop strong agent relationships. Maintain and develop strong company relationships with underwriting and marketing personnel. Stay informed of changes in company guidelines, products, strategies, etc. and share information with other Underwriting staff. Pursue additional education and credentials for professional and personal development. Perform other specific duties and projects as assigned by the Exec. V.P. / Profit Center Leader.
   
   WHAT YOU'LL NEED:
   Holds an active state insurance license 2-20 Two to Five Years Commercial Multi-Line Insurance experience Carrier rating experience Sales and Production driven Strong PC skills including Word & Excel Must be detail-oriented and possess the ability to multi-task Ability to work well with others in a production team environment Committed to excellent customer service
   
   WHAT WE OFFER :
   
   •Excellent growth and advancement opportunities
   
   •Competitive pay based on experience •Paid Time Off (PTO)
   
   •Generous benefits package: health, dental, vision, 401(k), etc.
   
   •Employee Stock Purchase Plan
   
   WHO WE ARE :
   
   Halcyon Underwriters' relationship-based model has cast a nationwide footprint with both our retail and carrier partners. For over 36 years, Halcyon has and continues to perform as more than a traditional intermediary, offering a variety of coverages in the P&C and Personal Lines industries on a monoline or package basis. Halcyon provides market access, specialty program availability, and competitive pricing through A-Rated, Admitted as well as Non-Admitted Carriers.
   
   We are an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.
   
   #LI-SD1
   
   #LI-hybrid
   
   We are an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.

   Copy This Example

   

5. Post your job

   To find underwriters for your business, try out a few different recruiting strategies:

   • Consider internal talent. One of the most important talent pools for any company is its current employees.
   • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any underwriters they would recommend.
   • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level underwriters with the right educational background.
   • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.

   Post your job online:

   • Post your underwriter job on Zippia to find and attract quality underwriter candidates.
   • Use niche websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   Your first interview with underwriter candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new underwriter

   Once you've found the underwriter candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

   It's also important to follow up with applicants who do not get the job with an email letting them know that the position is filled.

   To prepare for the new underwriter first day, you should share an onboarding schedule with them that covers their first period on the job. You should also quickly complete any necessary paperwork, such as employee action forms and onboarding documents like I-9, benefits enrollment, and federal and state tax forms. Finally, Human Resources must ensure a new employee file is created for internal record keeping.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire an underwriter?