Senior-level underwriters in Canada may earn as much as $130,000 or more in yearly salary, new research by Impact Recruitment shows.
The P&C recruitment agency’s 2024 Insurance Salary Guide details salary ranges for underwriters and their assistants and breaks down compensation per province and level of experience, though it may vary per firm.
Though underwriters are generally paid a flat salary (unlike the often commission-based brokers), the research is not inclusive of bonuses, commissions or other forms of compensation.
In Toronto and the surrounding area, senior underwriters (those with six or more years of experience) can expect to earn between $85,000 to $130,000 in salary. Intermediate underwriters (three to five years) can expect $65,000 to $85,000 and junior underwriters (two or less fewer) can expect $55,000 to $65,000.
“Ontario’s Greater Toronto Area…
