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That is partially on timing and the market. After those first few years, promotions start to matter more. You’ll start to manage those large accounts, but you won’t see the rewards of it until you get a title change.
I have several friends in underwriting that seem to be doing really well. I honestly think it depends on the company. I have seen several people jump to other companies to get bigger increases in salary.
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Job hopping works wonders for a significant pay bump.