Average Insurance Underwriter Salary in Cagayan de Oro, Philippines for 2026

In this article, we will look at the average Insurance Underwriter salary for 2026 in Cagayan de Oro and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Philippine peso. To keep things simple, we are using the PHP currency code instead of the currency symbol ₱.

How Much Does an Insurance Underwriter Make in Cagayan De Oro?

An Insurance Underwriter working in Cagayan de Oro will typically earn around 413,900 PHP per year, and this can range from the lowest average salary of about 204,700 PHP to the highest average salary of 648,200 PHP.

Average Annual Salary413,900 PHP

Average Monthly Salary34,491 PHP

Average Lowest Salary204,700 PHP

Lowest Monthly Salary17,058 PHP

Average Highest Salary648,200 PHP

Highest Monthly Salary54,016 PHP

These are average salaries for an Insurance Underwriter in Cagayan de Oro and include benefits such as housing and transport. It's also possible for an Insurance Underwriter to earn more or less than the average salaries shown above.

Insurance Underwriter salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Insurance Underwriter Salaries in Cagayan de Oro

So we've looked at the average salaries an Insurance Underwriter will earn in Cagayan de Oro. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Insurance Underwriter can earn between 204,700 PHP and 648,200 PHP on average in Cagayan de Oro. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Insurance Underwriter in Cagayan de Oro is 420,800 PHP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 420,800 PHP, and 50% of the population earn more than 420,800 PHP.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Insurance Underwriter salary in Cagayan de Oro, 25% of the population are earning less than 283,400 PHP while 75% of the population earn more than 283,400 PHP.

75% of the population earn less than 545,300 PHP, and 25% of the population earn more than 545,300 PHP.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

If your salary is higher than the average and the median salary, you are earning well compared to others.
If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Insurance Underwriter Salary by Experience Level in Cagayan de Oro

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average Insurance Underwriter salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

0 - 2 Years Experience. An Insurance Underwriter in Cagayan de Oro that has less than two years of experience can expect to earn somewhere in the region of 239,300 PHP.
2 - 5 Years Experience. With two to five years of experience the average Insurance Underwriter salary would increase to 308,300 PHP.
5 - 10 Years Experience. From five to ten years of experience as an Insurance Underwriter, the average salary would be 428,400 PHP.
10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 528,600 PHP.
15 - 20 Years Experience. An Insurance Underwriter with 15 to 20 years of experience can earn an average of 565,100 PHP.
20+ Years Experience. For an Insurance Underwriter with more than 20 years, the expected average salary increases to 605,700 PHP.

Average Salary by Experience Chart

0-2 Years	-	239,300 PHP
2-5 Years	+29%	308,300 PHP
5-10 Years	+38%	428,400 PHP
10-15 Years	+24%	528,600 PHP
15-20 Years	+7%	565,100 PHP
20+ Years	+7%	605,700 PHP

Insurance Underwriter Salary by Education Level in Cagayan de Oro

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Insurance Underwriter in Cagayan de Oro based on the education level of the employees in order to find out whether a better education level would increase your salary.

Certificate or Diploma. An Insurance Underwriter in Cagayan de Oro with a certificate or diploma education can earn an average salary of 340,400 PHP.
Bachelor's Degree. An Insurance Underwriter in Cagayan de Oro with a bachelor's degree education can earn an average salary of 520,900 PHP.

Average Salary by Education Chart

Certificate or Diploma	-	340,400 PHP
Bachelor's Degree	+53%	520,900 PHP

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Philippines is around 223,000 to 669,000 PHP and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Insurance Underwriter Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Cagayan de Oro, a male insurance underwriter will earn an average of 420,100 PHP, while a female insurance underwriter will earn around 367,900 PHP.

This means that a male insurance underwriter earns approximately 14% more than a female insurance underwriter for performing the same job.

Average Salary by Gender Chart in Cagayan de Oro

Male	-	420,100 PHP
Female	-14%	367,900 PHP

Insurance Underwriter Average Pay Raise in Cagayan de Oro

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Insurance Underwriter in Cagayan de Oro is around 10% every 18 months.

The national average pay raise across all professions and industries in Philippines is around 8% every 18 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 10 ÷ 18 ) × 12  = 7%

What this means is that an Insurance Underwriter in Cagayan de Oro can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Cagayan de Oro for 2026

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Philippines.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking	-	9%
Energy	-	9%
Information Technology	-	9%
Healthcare	-	9%
Travel	-	9%
Construction	-	9%
Education	-	9%

Insurance Underwriter Bonus and Incentive Rates in Cagayan de Oro

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Insurance Underwriter is a low bonus based job, with 32% of employees reporting at least one bonus in the last 12 months.

68% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 0% to 4%.

Received Bonus	-	32%
No Bonus	-	68%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Philippines earn approximately 12% more than private sector employees in the same role.

Public Sector	-	563,300 PHP
Private Sector	-12%	504,300 PHP

Salaries for Jobs Similar to an Insurance Underwriter

In the table below, we have salary information for jobs that are similar to an Insurance Underwriter in Cagayan de Oro.

Job Title	Category	Salary
Actuarial Analyst	Insurance	689,900 PHP
Actuarial Assistant	Insurance	471,700 PHP
Actuarial Specialist	Insurance	513,300 PHP
Actuary	Insurance	672,600 PHP
Adjustment Insurance Clerk	Insurance	195,200 PHP
Assistant Broker	Insurance	330,700 PHP
Assistant Claims Manager	Insurance	559,000 PHP
Associate Insurance Representative	Insurance	283,400 PHP
Auditing Insurance Manager	Insurance	767,000 PHP
Broker	Insurance	504,300 PHP
Claim Advocacy Professional	Insurance	531,700 PHP
Claims Adjuster	Insurance	187,500 PHP
Claims Analyst	Insurance	279,400 PHP
Claims Examiner	Insurance	272,800 PHP
Claims Manager	Insurance	713,900 PHP
Claims Processor	Insurance	201,100 PHP
Claims Representative	Insurance	228,500 PHP
Claims Resolution Specialist	Insurance	555,800 PHP
Claims Supervisor	Insurance	524,400 PHP
Complaints Specialist	Insurance	504,400 PHP
Compliance Examiner	Insurance	476,600 PHP
Compliance Officer	Insurance	412,000 PHP
Compliance Reviewer	Insurance	504,500 PHP
Consultant	Insurance	501,400 PHP
Eligibility Interviewer	Insurance	582,700 PHP
Eligibility Specialist	Insurance	516,100 PHP
Insurance Account Manager	Insurance	619,000 PHP
Insurance Accounts Executive	Insurance	565,100 PHP
Insurance Adjuster	Insurance	492,400 PHP
Insurance Agent	Insurance	314,500 PHP
Insurance Analyst	Insurance	539,800 PHP
Insurance Appraiser	Insurance	539,700 PHP
Insurance Claims Clerk	Insurance	196,800 PHP
Insurance Examiner	Insurance	466,900 PHP
Insurance Investigator	Insurance	516,100 PHP
Insurance Manager	Insurance	890,700 PHP
Insurance Operations Manager	Insurance	938,700 PHP
Insurance Policy Processing Clerk	Insurance	197,600 PHP
Insurance Pricing Assistant	Insurance	428,400 PHP
Insurance Program Manager	Insurance	653,200 PHP
Insurance Project Manager	Insurance	641,900 PHP
Insurance Quality Assurance Agent	Insurance	437,300 PHP
Insurance Sales Agent	Insurance	308,900 PHP
Insurance Sales Director	Insurance	816,000 PHP
Insurance Sales Manager	Insurance	653,200 PHP
Insurance Sales Representative	Insurance	261,300 PHP
Insurance Team Leader	Insurance	578,500 PHP
Loss Control Specialist	Insurance	510,200 PHP
Loss Prevention Investigator	Insurance	533,000 PHP
Loss Prevention Manager	Insurance	727,400 PHP
Loss Prevention Specialist	Insurance	572,200 PHP
Marine Underwriter	Insurance	392,300 PHP
Medical Auditor	Insurance	524,700 PHP
Monitoring and Performance Officer	Insurance	378,800 PHP
Payment Services Specialist	Insurance	514,800 PHP
Policy Change Director	Insurance	836,800 PHP
Policy Change Supervisor	Insurance	559,000 PHP
Policy Change Technician	Insurance	243,000 PHP
Risk Analyst	Insurance	588,500 PHP
Risk Management Director	Insurance	987,200 PHP
Risk Management Supervisor	Insurance	683,800 PHP
Risk Manager	Insurance	991,000 PHP
Risk Modeling Manager	Insurance	965,000 PHP
Title Insurance Typist	Insurance	454,900 PHP
Training Manager	Insurance	574,200 PHP

Salary Comparison by City

If you want to compare salaries with different cities in Philippines, you can use the links below to explore the data for each specific city we have researched.

City	Average Salary
Antipolo	407,100 PHP
Cebu	430,000 PHP
Dasmarinas	378,300 PHP
Davao	440,200 PHP
Kalookan	440,200 PHP
Las Pinas	382,600 PHP
Makati	371,100 PHP
Manila	462,300 PHP
Paranaque	403,100 PHP
Pasig	394,500 PHP
Quezon City	472,100 PHP
Taguig	451,000 PHP
Valenzuela	404,600 PHP

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