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Is $50k salary low for a licensed advisor
Your location and years of experience sound comparable/fair for a UW in my experience. I have 8 YOE in underwriting and know people who started at 0 yrs and people at 30 yrs and salaries are all over the place in UW. The size of the book/premium also has a lot to do with compensation. What I have learned is that people who move around the most (every 2-3 yrs) are the best compensated in underwriting. If your company has opportunity to learn and move up consider staying at least another year. But if it doesn’t and you were wanting to look around anyways now is a great time. I wish I would have had someone tell me to look harder and not give up on finding a better company to work at when I was a UW at 2 YOE. But the market was different then. I think you would be successful in time with the desire to learn and hit the job market right now, it is hot. But if you love your job and company also consider the benefits you may already have that don’t include compensation.
Current insurance graduates are getting $65-70k out of college in Chicago at various companies.
I have no context but it does sound low, but also what’s your experience and credentials? And where are you located?
I need to live to chi then. I’m at 62k with 10 years of experience in PL as an acc manager. South Florida for context.
It’s so expensive to live there tho…
I would say that’s low if you have experience
I started at travelers out of college 10 years ago as a commercial accounts underwriter in Chicago and my starting salary was $50k. So I think your offer is low.
I also know someone who had 3 years experience as a property underwriter at chubb, left and went to ironshore and salary was $120k. In Chicago. Just for reference.
Depends on experience, location, etc.
I am located in Ohio with 2 years of experience
I am located in Ohio and I have 2 years of experience
Not horrible given low cost of living and just starting. Get your CPCU and with 3 years of CL experience you can make a move at like $90k- $130k
That's within the pay range for State Farm with that experience.
Do you have experience? If you are an assistant with no experience I would think it was good. If you have experience of say 5 years than I would say it is low
I started at 52k when I graduated college a few years ago (Michigan). When I hit 2 years I was at 69k. I think 52 is low especially if you are near a major city.
That was my starting salary as a trainee in 2016 in the Dallas area. Do with that information what you will.
Seems low! I would target $62k-$70k depending on if you are a high performer.
I've been a workers compensation underwriter at the same company for 2.5 years and I make $38,500 a year. I think I may be underpaid as well but not sure!
Underpaid for sure, this is where they started me as a UWA 8 years ago with no insurance or business experience. I came from automotive and supply chain.
Not sure about your location but I make $64k @ Liberty as Underwriter Assistant.
D&O policy issuance, 8 years, remote, also bonus every spring.
I was making almost $70k with no experience in UW but I had a big ops background
I would say yes. I started in commercial insurance on the agency side with no experience, as an associate and brought home $50k last year. I would expect more for your position
Very low for the amount of work you’d have to do.
The Senior analyst consultant position is a step below UW and pays between 25-35 an Hr.
That’s the starting salary for an UW coming straight out of college and/or going into an UW training program at a large P&C carrier (Travelers, HIG, etc). If you have 2 years of desk experience you’re on the low end now.
Depends on market, but probably. Depending on your experience and background, you could perhaps negotiate a higher salary!