Function and Average Salary

• The average salary for an underwriting assistant, as of July 2011, was $42,000, according to jobs website Indeed. Property underwriting assistants are paid to help insurance underwriters manage and close commercial transactions. Because their focus is property insurance, underwriting assistants process escrow and real estate tax paperwork, as well as contractual agreements. Property underwriting assistants perform administrative duties such as copying, mailing, typing and filing. Their duties may also include database management, where they update applications with insurance rates and credit information.
  
  

Geography

• Property underwriting assistants averaged similar salaries nationwide, according to a July 2011 report on salary and jobs website, SalaryExpert. In Houston and Dallas, for example, underwriting assistants averaged $39,451 and $41,929, respectively. Workers in Chicago took home an average of $41,090 per year, while those in New York City reported an average annual wage of $40,429. They averaged $41,285 in Phoenix and $40,623 in Los Angeles.
  
  

Advancement

• No formal education requirements exist for insurance underwriters, according to the Bureau of Labor Statistics' "Occupational Outlook Handbook, 2010-11 Edition." Most employers, though, prefer that underwriters hold a bachelor's degree. By handling more complex projects, enrolling in continuing education or obtaining formal training, assistants can build the foundation necessary to become an experienced underwriter. The average annual wage for underwriters in the United States was $65,220, according to a May 2010 Bureau of Labor Statistics report. Earners within the 10th percentile to 25th percentile averaged between $36,700 and $45,650 annually. Top earners received average salaries between $79,790 and $102,540 per year.
  
  

Job Outlook

• Property underwriting assistants will experience slow job growth from 2008 to 2018, according to the Bureau of Labor Statistics. Overall employment of underwriters is projected to decrease 4 percent due to factors such as automation in the industry. Sophisticated software programs have allowed underwriters to perform more tasks in less time. As a result, employers will require less assistants to support underwriting professionals. Nevertheless, property underwriting assistants with a bachelor's degree in finance or a related discipline will receive the best job opportunities. Candidates with strong computer and communication skills will also be competitively positioned for jobs with high salary potential.