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Underwriter Specialist salary in Canada

Average Yearly Salary of Underwriter Specialist in Canada is approximately 96,667 CAD (97,136 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.

What does Underwriter Specialist do?

occupation personasAn underwriter specialist is a professional who works in the insurance industry and is responsible for evaluating and assessing insurance applications. Their main role is to determine the level of risk associated with insuring a person or property and decide whether to approve or deny the application. Underwriter specialists carefully review all relevant information, such as medical records, financial statements, and policy details, to make informed decisions. They also calculate premiums and establish coverage limits based on their analysis. This occupation requires strong analytical skills, attention to detail, and knowledge of insurance policies and regulations. Effective communication skills are also essential as underwriter specialists often interact with clients, agents, and other professionals in the insurance industry.

Skills: underwriter specialist, insurance industry, risk assessment, policy evaluation, premium calculation, analytical skills
Job industry: Insurance


How much does Underwriter Specialist make?

Salary details
How much does Underwriter Specialist make?
Estimated Yearly Salary: 96,667 CAD
Estimated Monthly Salary: 8,056 CAD
Estimated Weekly Salary: 1,859 CAD per week
Estimated Hourly Salary: 46 CAD per hour
Values are pre-tax
Last revision of data: 2025-01-04

Comparing salary to last year:
Estimated Yearly Salary: 93,517 CAD
Estimated Monthly Salary: 7,793 CAD
Estimated Weekly Salary: 1,798 CAD per week
Estimated Hourly Salary: 45 CAD per hour
Last revision of data: 2024-01-05



Underwriter Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:
Estimated Yearly Salary: 97,136 USD
Estimated Monthly Salary: 8,095 USD
Estimated Weekly Salary: 1,868 USD per week
Estimated Hourly Salary: 47 USD per hour


Difference in salary year over year or average salary increase is approximately up arrow 3 %

About these results Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.

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Salary comparison to National average

Canada is a vast country located in North America. It has a population of approximately 38 million people, making it the second-largest country by land area and the tenth-largest by population. With a total area of about 9.98 million square kilometers, Canada is known for its breathtaking landscapes, including mountains, forests, lakes, and coastlines.

Estimated national average yearly salary is 70,966 CAD (52,960 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Specialist job salary compared to average salary in Canada.
Comparison shows that a person working as Underwriter Specialist in Canada earns on average:
1.36 times the average salary (or 136% of average salary).

Is Underwriter Specialist a well paid job?

Yes, our data shows that Underwriter Specialist is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.

What is considered a high salary for Underwriter Specialist?

High salary for Underwriter Specialist would be somewhere between 106,334 CAD and 140,167 CAD. However this is an estimation based on Gaussian Distribution.

How much can you save working as Underwriter Specialist in Canada?

Living in Canada the approximate monthly expenses are: 2,118 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.

Estimated Yearly Salary: 96,667 CAD
Estimated Monthly Salary: 8,056 CAD
Estimated Weekly Salary: 1,859 CAD per week
Estimated Hourly Salary: 46 CAD per hour
By working as Underwriter Specialist a person can save up to 5,976 USD per month or 71,715 USD yearly. Values are pre-tax.

NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.

For more information regarding expenses in Canada, see costs of living in Canada.

Salary comparison to region and neighbouring coutries

Country's neighbours are: United States of America.
To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).

Estimated Yearly Salary for Underwriter Specialist

United States Of America is 104,435 USDup arrow 8%
Details on Underwriter Specialist salary in United States Of America
Last revision of data: 2025-01-04

Salary increase per years of experience

Based on data available the salary increase per years of experience is as following

    0 years (beginner) equals base salary
    1 to 5 years of experience yields up arrow+12% salary increase
    6 to 10 years of experience yields up arrow+25% salary increase
    11 to 15 years of experience yields up arrow+16% salary increase
    16 to 25 years of experience yields up arrow+9% salary increase
    more than 25 years of experience yields up arrow+10% salary increase
NOTE: Details based on limited set of data. Percentages may vary. The salary increase over years of experience can vary widely based on factors such as job industry, job role, location, company size, and individual performance. To gain even larger increase in salary one is advised to switch jobs and / or employer.

Top 10 highest salaries in Canada

(552,602 CAD per year, pre-tax.)
(460,219 CAD per year, pre-tax.)
(446,188 CAD per year, pre-tax.)
(430,825 CAD per year, pre-tax.)
(430,370 CAD per year, pre-tax.)
(421,037 CAD per year, pre-tax.)
(420,203 CAD per year, pre-tax.)
(419,967 CAD per year, pre-tax.)
(419,948 CAD per year, pre-tax.)
(419,552 CAD per year, pre-tax.)

Data as of 2025

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The salary figures on this website are meant for reference purposes exclusively. We collect salary data from multiple sources, but do not guarantee complete accuracy. Users should on their own confirm salaries before making career decisions. Salary fluctuations occur due to company policies, negotiation skills, and experience levels. We deny any guarantee regarding the correctness of the listed salary data. By using this site, you agree that salary data is subject to updates.