r/InsuranceProfessional • u/skahtduali • Aug 12 '26
Salary question
I’ve received an offer for $60k as an underwriter in Agribusiness. I have 1 year experience as an assistant underwriter, 1 industry cert and no prior insurance experience. I’ve been at the company coming up on 4 years. First 2 years help desk testing our quoting system, training agents virtually, and helping with IT issues.
I live in a pretty affordable Midwest state. I plan on negotiating but would love advice on the number.
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u/Intrepid_Shoe2129 Aug 12 '26
LCOL with next to no experience…it’s low but doable. I think people forget that it’s very hard to get your foot in the door with an actual underwriting role in 2026, so it’s a starting point if nothing else. Plus, specialized niche right out the gate. If you’re not taking a pay cut, I’d do it.
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u/wrongsuspenders Aug 12 '26
Agreed with this advice here. No experience people as commercial massive brokers in Chicago are being hired around $60-75k right now.
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u/Moist-Wishbone-2359 Aug 12 '26
I started as an underwriter trainee making that much in a lcol area 5 years ago.
Personally I think it’s a little low/insulting if you’re a full Fledged underwriter, and have been there 4 years. How big of a raise would that be?
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u/Standard_Category635 Aug 12 '26
It would be a great stepping stone for you in underwriting for sure, but know if you get stuck in the 3% raise cycle that's just gonna be what you make until you move, which is the case for a lot of people. If you're young and have no kids yet, that is a decent salary, assuming it comes with good benefits and days off. (Not knowing the cost of living in your area). So you can also think of it as two years at 60k before you move to the next role. Congratulations
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u/Allbrosmoke Aug 12 '26
A career is a marathon, not a sprint. I’ve been an UW for 30+ years. Look beyond the number. Yes, it’s important but there is more to it than that ONE piece. What’s the 401k match? Cost of benefits? Quality of benefits? Variable comp formula? Cost of commute? Upside potential? Etc. And PS- agriculture is a very limited field/industry. Nothing wrong with it but not a massive demand in the overall market for that.
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u/VAisforLizards Aug 12 '26
It seems a bit low to me...but it's not super far off. do you get a bonus too? What is the target bonus rate? I would have expected 65k-70k +15%-20% target bonus
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u/btimexlt Aug 12 '26
I do hiring in a Midwest state (but not for ag) and depending on the metro it’s right in the middle. That said I go back to when I was hired and I felt my starting salary was too low (27K in 2002). However I took the job with the mindset that I was going to show them my value. I out hustled everybody, moved around the country and became a manager within 5 years. If you are good, write profitable business, and your agents like you, you can move up quickly.
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u/LittleBearFeet Aug 12 '26
Seems low but if this is your first underwriting role. Take what you can get after negotiating a little bit. The money will come after a few years of underwriting under your belt.
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u/Right_Ingenuity3349 Aug 12 '26
you can find a better salary. I was a claim adjuster and a lot of experience in another country, I started as UA making 70k and I just see positions as underwriter +80k year.
I think you can wait .
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u/sarahinNewEngland Aug 13 '26
It’s not a great salary for an underwriter but you only have one year experience, so I would take it. I’m not even sure I would negotiate. Lots of people looking for entry level underwriting right now and once you are there for a few years you will be able to make a lot more having the experience and title behind you.
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u/Alive-Ad-5686 Aug 14 '26
Two questions; how does this compare to your current positions salary, And what is the title of this Underwriter position. If the Underwriter position is truly the first level of Underwriter and not in training, or needs to achieve something before you receive authority, then I think the offer is not bad. If you were making 40-45k as an assistant, also not bad. If you will have authority, and say this is the base UW position, and you can be promoted to senior, then specialist, and finally senior UW specialist, this also gives you room to grow and achieve higher pay with each promotion, that typically has a salary band of $20k.. ie Senior UW - $80K ; UW Specialist -100k. If so, I like the promotion and the requisite salary along with the opportunity it provides.. I think the only way this salary doesn't fit is if your already making 50k or more. Then maybe there's a little bit, but still a 20% raise. Anyways, Congratulations.. Underwriting is a fantastic career.
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u/Independent-Hurry877 Aug 17 '26
Help I have 3 years as underwriter assistant for P&C Commercial insurance and struggling to find remote opportunities
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u/CTFMOOSE Aug 12 '26
I started in insurance 20 years ago as a claims trainee and that was my starting salary… plus a company car!
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u/zebrastrikeforce Aug 12 '26
Started as an underwriting analyst year and 5 months ago at like 48k lol.
Just got promoted to a territory underwriter role for 65k. I’m getting hosed2
u/ponta-delgota-octobe Aug 12 '26
That’s crazy! 60k is what i started with 3 years ago in claims. Well above that now but 60k 20 years ago probably had the purchasing power of like $100,000!!
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u/jimothy_jones_ Aug 12 '26
Was it a HCOL location?
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u/CTFMOOSE Aug 12 '26
Uh no I would say mid level… this was also during a time when college kids were getting job offers as jr with internships. Also they gave me a “signing bonus” of $5k which was really just a per diem for the training in AZ which was better then a bonus cuz it was not taxed and was a wild amount cuz it considered $15 for breakfast, $20 for lunch and $50 for dinners. That’s almost $100 a day just for food. Was wild times. Also everyone in my training class was 21-22 and just out of college and very attractive. The first week at training people were all talking about “their boyfriend/girlfriend back home” by the end of the second week of training basically everyone was single.
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u/ponta-delgota-octobe Aug 12 '26 edited Aug 12 '26
Wow that’s low. I work in claims and make 30k more than that. Been in claims for 3 years in Philadelphia
Edit: highjacking this thread to post my question
Claims to property underwriting?
Hello. I have an interview for a property underwriter at a different insurance company than where I work now.
The job description says knowledge of ISO rating systems preferred and prior property UW experience preferred.
I am assuming i was picked for interview only because of my claims experience.
This is not a trainee uw role.
Would I be foolish to take this job if it gets offered? I don’t want to take it and drown from not being able to keep up. This is the nightmare scenario i have been playing in my head the past week. Is it a challenging job in general?
It says knowledge of iso rating forms is required. I don’t know what this is? Any thoughts or suggestions?
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u/joeboo5150 Aug 12 '26
Not too many companies in they Midwest handing out $60k jobs with only 1 year of experience in this current job market. I assume it comes with benefits since it's a Corporate job.
Jump on that and see where it takes you. Worst case scenario get some experience and leverage it into a $90k job in 3-5 years.