Average Underwriter Salary in Dominican Republic for 2024

In this article, we will look at the average Underwriter salary for 2024 in Dominican Republic 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 Dominican peso. To keep things simple, we are using the DOP currency code instead of the currency symbol $.

How Much Does an Underwriter Make in Dominican Republic?

An Underwriter working in Dominican Republic will typically earn around 112,600 DOP per year, and this can range from the lowest average salary of about 53,380 DOP to the highest average salary of 180,300 DOP.

Average Annual Salary
112,600 DOP
Average Monthly Salary
9,383 DOP

Lowest Annual Salary
53,380 DOP
Lowest Monthly Salary
4,448 DOP

Highest Annual Salary
180,300 DOP
Highest Monthly Salary
15,025 DOP

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

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 Underwriter Salaries in Dominican Republic

So we've looked at the average salaries an Underwriter will earn in Dominican Republic. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Underwriter can earn between 53,380 DOP and 180,300 DOP on average in Dominican Republic. 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 Underwriter in Dominican Republic is 119,700 DOP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 119,700 DOP, and 50% of the population earn more than 119,700 DOP.

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 Underwriter salary in Dominican Republic, 25% of the population are earning less than 77,120 DOP while 75% of the population earn more than 77,120 DOP.

75% of the population earn less than 159,100 DOP, and 25% of the population earn more than 159,100 DOP.

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.

Underwriter Salary by Experience Level in Dominican Republic

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 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 Underwriter in Dominican Republic that has less than two years of experience can expect to earn somewhere in the region of 62,060 DOP.
  • 2 - 5 Years Experience. With two to five years of experience the average Underwriter salary would increase to 83,640 DOP.
  • 5 - 10 Years Experience. From five to ten years of experience as an Underwriter, the average salary would be 119,900 DOP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 148,300 DOP.
  • 15 - 20 Years Experience. An Underwriter with 15 to 20 years of experience can earn an average of 154,700 DOP.
  • 20+ Years Experience. For an Underwriter with more than 20 years, the expected average salary increases to 169,000 DOP.

Average Salary by Experience Chart

0-2 Years
62,060 DOP
2-5 Years +38%
83,640 DOP
5-10 Years +42%
119,900 DOP
10-15 Years +22%
148,300 DOP
15-20 Years +6%
154,700 DOP
20+ Years +9%
169,000 DOP

Underwriter Salary by Education Level in Dominican Republic

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 Underwriter in Dominican Republic based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. An Underwriter in Dominican Republic with a high school education can earn an average salary of 75,040 DOP.

  • Certificate or Diploma. An Underwriter in Dominican Republic with a certificate or diploma education can earn an average salary of 109,340 DOP.

  • Bachelor's Degree. An Underwriter in Dominican Republic with a bachelor's degree education can earn an average salary of 168,100 DOP.

Average Salary by Education Chart

High School
75,040 DOP
Certificate or Diploma +51%
109,340 DOP
Bachelor's Degree +50%
168,100 DOP

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 Dominican Republic is around 99,300 to 298,000 DOP 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.

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 Dominican Republic, a male underwriter will earn an average of 119,080 DOP, while a female underwriter will earn around 106,820 DOP.

This means that a male underwriter earns approximately 11% more than a female underwriter for performing the same job.

Average Salary by Gender Chart in Dominican Republic

Male
119,080 DOP
Female -11%
106,820 DOP

Underwriter Average Pay Raise in Dominican Republic

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 Underwriter in Dominican Republic is around 10% every 17 months.

The national average pay raise across all professions and industries in Dominican Republic 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 ÷ 17 ) × 12  = 7%

What this means is that an Underwriter in Dominican Republic can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Dominican Republic for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Underwriter Bonus and Incentive Rates in Dominican Republic

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 Underwriter is a low bonus based job, with 30% of employees reporting at least one bonus in the last 12 months.

70% 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
30%
No Bonus
70%

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 Dominican Republic earn approximately 7% more than private sector employees in the same role.

Public Sector
247,800 DOP
Private Sector -7%
232,400 DOP

Salaries for Jobs Similar to an Underwriter

In the table below, we have salary information for jobs that are similar to an Underwriter in Dominican Republic.

Job Title Category Salary
Account Examiner Accounting and Finance 125,100 DOP
Account Executive Accounting and Finance 217,900 DOP
Accountant Accounting and Finance 164,200 DOP
Accounting Analyst Accounting and Finance 197,600 DOP
Accounting Assistant Accounting and Finance 124,400 DOP
Accounting Associate Accounting and Finance 125,100 DOP
Accounting Clerk Accounting and Finance 99,460 DOP
Accounting Coordinator Accounting and Finance 148,300 DOP
Accounting Head Accounting and Finance 344,600 DOP
Accounting Manager Accounting and Finance 354,000 DOP
Accounting Officer Accounting and Finance 125,700 DOP
Accounting Specialist Accounting and Finance 225,700 DOP
Accounting Supervisor Accounting and Finance 217,900 DOP
Accounting Technician Accounting and Finance 111,240 DOP
Accounting Unit Controller Accounting and Finance 286,400 DOP
Accounts Executive Accounting and Finance 221,500 DOP
Accounts Officer Accounting and Finance 124,400 DOP
Accounts Payable and Receivable Specialist Accounting and Finance 172,200 DOP
Accounts Payable Assistant Accounting and Finance 138,200 DOP
Accounts Payable Associate Accounting and Finance 151,800 DOP
Accounts Payable Clerk Accounting and Finance 117,600 DOP
Accounts Payable Manager Accounting and Finance 339,100 DOP
Accounts Receivable Administrator Accounting and Finance 233,600 DOP
Accounts Receivable Clerk Accounting and Finance 123,400 DOP
Accounts Receivable Financial Analyst Accounting and Finance 238,900 DOP
Accounts Receivable Manager Accounting and Finance 307,400 DOP
Accounts Receivable Team Leader Accounting and Finance 252,300 DOP
Assistant Accountant Accounting and Finance 125,100 DOP
Assistant Accounting Manager Accounting and Finance 311,700 DOP
Assistant Auditor Accounting and Finance 161,600 DOP
Assistant Corporate Controller Accounting and Finance 228,500 DOP
Assistant Finance Manager Accounting and Finance 327,800 DOP
Assistant Financial Controller Accounting and Finance 233,900 DOP
Audit Director Accounting and Finance 396,300 DOP
Audit Supervisor Accounting and Finance 290,800 DOP
Auditing Clerk Accounting and Finance 124,400 DOP
Auditing Manager Accounting and Finance 344,600 DOP
Billing Clerk Accounting and Finance 123,400 DOP
Billing Coordinator Accounting and Finance 154,700 DOP
Billing Specialist Accounting and Finance 176,800 DOP
Billing Supervisor Accounting and Finance 251,500 DOP
Bookkeeper Accounting and Finance 114,900 DOP
Bookkeeping Specialist Accounting and Finance 152,100 DOP
Budget Analyst Accounting and Finance 288,100 DOP
Budget Manager Accounting and Finance 330,700 DOP
Business Support Analyst Accounting and Finance 183,700 DOP
Capital Markets Associate Accounting and Finance 258,400 DOP
Cash Flow Analyst Accounting and Finance 258,400 DOP
Cash Management Manager Accounting and Finance 325,800 DOP
Cash Management Officer Accounting and Finance 180,500 DOP
Cashbook Clerk Accounting and Finance 117,380 DOP
Chartered Accountant Accounting and Finance 212,500 DOP
Chief Accountant Accounting and Finance 246,200 DOP
Collections Clerk Accounting and Finance 98,820 DOP
Collections Representative Accounting and Finance 142,300 DOP
Collections Specialist Accounting and Finance 172,200 DOP
Corporate Controller Accounting and Finance 259,100 DOP
Corporate Treasurer Accounting and Finance 320,500 DOP
Cost Accountant Accounting and Finance 163,800 DOP
Cost Accounting Manager Accounting and Finance 320,500 DOP
Cost Accounting Supervisor Accounting and Finance 267,100 DOP
Cost Analyst Accounting and Finance 275,200 DOP
Credit and Collection Manager Accounting and Finance 319,600 DOP
Credit and Collection Staff Accounting and Finance 127,700 DOP
Credit and Loans Officer Accounting and Finance 118,520 DOP
Credit Controller Accounting and Finance 228,500 DOP
Credit Manager Accounting and Finance 330,900 DOP
Debt Adviser Accounting and Finance 277,400 DOP
Debt Collector Accounting and Finance 128,900 DOP
Debtors Clerk Accounting and Finance 120,040 DOP
Debtors Controller Accounting and Finance 125,700 DOP
Deputy CFO Accounting and Finance 447,700 DOP
Deputy Head of Finance Accounting and Finance 459,700 DOP
Derivative Trader Accounting and Finance 273,300 DOP
Director of Finance Accounting and Finance 478,000 DOP
Economist Accounting and Finance 394,800 DOP
Equity Analyst Accounting and Finance 301,800 DOP
Escrow Assistant Accounting and Finance 152,100 DOP
Executive Accountant Accounting and Finance 190,500 DOP
External Auditor Accounting and Finance 221,500 DOP
Finance Administrator Accounting and Finance 187,500 DOP
Finance Analyst Accounting and Finance 301,600 DOP
Finance Associate Accounting and Finance 148,300 DOP
Finance Director Accounting and Finance 480,300 DOP
Finance Executive Accounting and Finance 340,000 DOP
Finance Licensing Clerk Accounting and Finance 119,900 DOP
Finance Licensing Manager Accounting and Finance 308,900 DOP
Finance Licensing Specialist Accounting and Finance 185,100 DOP
Finance Manager Accounting and Finance 485,200 DOP
Finance Officer Accounting and Finance 152,300 DOP
Finance President Accounting and Finance 489,500 DOP
Finance Relationship Manager Accounting and Finance 378,800 DOP
Finance Release Analyst Accounting and Finance 197,600 DOP
Finance Specialist Accounting and Finance 275,800 DOP
Finance Team Leader Accounting and Finance 369,900 DOP
Financial Accountant Accounting and Finance 172,200 DOP
Financial Actuary Accounting and Finance 239,300 DOP
Financial Administrator Accounting and Finance 268,900 DOP
Financial Advisor Accounting and Finance 292,000 DOP
Financial Analyst Accounting and Finance 312,400 DOP
Financial Applications Specialist Accounting and Finance 207,800 DOP
Financial Assistant Accounting and Finance 129,000 DOP
Financial Associate Accounting and Finance 136,200 DOP
Financial Associate Accounting and Finance 161,600 DOP
Financial Claims Analyst Accounting and Finance 216,800 DOP
Financial Claims Manager Accounting and Finance 305,600 DOP
Financial Claims Supervisor Accounting and Finance 273,300 DOP
Financial Clerk Accounting and Finance 129,000 DOP
Financial Commercial Analyst Accounting and Finance 245,300 DOP
Financial Compliance Analyst Accounting and Finance 254,800 DOP
Financial Consultant Accounting and Finance 225,700 DOP
Financial Controller Accounting and Finance 261,300 DOP
Financial Controller Accounting and Finance 268,900 DOP
Financial Coordinator Accounting and Finance 146,200 DOP
Financial Customer Service Manager Accounting and Finance 309,800 DOP
Financial Dealer and Broker Accounting and Finance 174,000 DOP
Financial Director Accounting and Finance 498,500 DOP
Financial Encoder Accounting and Finance 146,200 DOP
Financial Manager Accounting and Finance 442,200 DOP
Financial Manager Accounting and Finance 453,200 DOP
Financial Operations Manager Accounting and Finance 421,400 DOP
Financial Policy Analyst Accounting and Finance 266,000 DOP
Financial Project Manager Accounting and Finance 332,100 DOP
Financial Quantitative Analyst Accounting and Finance 277,400 DOP
Financial Reporting Consultant Accounting and Finance 239,000 DOP
Financial Reporting Manager Accounting and Finance 327,800 DOP
Financial Section Head Accounting and Finance 301,300 DOP
Financial Services Manager Accounting and Finance 437,300 DOP
Financial Services Sales Agent Accounting and Finance 183,600 DOP
Fixed Assets Administrator Accounting and Finance 172,200 DOP
Forensic Accountant Accounting and Finance 192,000 DOP
Fraud Detection Supervisor Accounting and Finance 200,000 DOP
Fraud Prevention Manager Accounting and Finance 351,200 DOP
Fund Accountant Accounting and Finance 159,100 DOP
Grants Coordinator Accounting and Finance 125,700 DOP
Group Financial Manager Accounting and Finance 454,900 DOP
Internal Auditor Accounting and Finance 228,500 DOP
Internal Control Adviser Accounting and Finance 254,800 DOP
Internal Control Officer Accounting and Finance 151,800 DOP
International Tax Director Accounting and Finance 394,500 DOP
Inventory Accountant Accounting and Finance 168,100 DOP
Investment Advisor Accounting and Finance 426,700 DOP
Investment Analyst Accounting and Finance 335,800 DOP
Investment Associate Accounting and Finance 263,900 DOP
Investment Broker Accounting and Finance 273,000 DOP
Investment Fund Manager Accounting and Finance 375,200 DOP
Investment Operations Manager Accounting and Finance 352,000 DOP
Investment Underwriter Accounting and Finance 137,400 DOP
Investor Accounting and Finance 222,300 DOP
Investor Relations Manager Accounting and Finance 332,100 DOP
KYC Team Leader Accounting and Finance 313,700 DOP
Loan Processor Accounting and Finance 138,800 DOP
Management Accountant Accounting and Finance 180,500 DOP
Management Economist Accounting and Finance 385,300 DOP
Paymaster Accounting and Finance 137,400 DOP
Payroll Administrator Accounting and Finance 215,100 DOP
Payroll Benefits Coordinator Accounting and Finance 185,100 DOP
Payroll Billing Manager Accounting and Finance 294,700 DOP
Payroll Clerk Accounting and Finance 139,100 DOP
Payroll Manager Accounting and Finance 308,900 DOP
Payroll Officer Accounting and Finance 150,000 DOP
Payroll Specialist Accounting and Finance 172,200 DOP
Payroll Supervisor Accounting and Finance 207,800 DOP
Pensions Administrator Accounting and Finance 174,000 DOP
Personal Financial Advisor Accounting and Finance 233,600 DOP
Pricing Analyst Accounting and Finance 277,400 DOP
Private Equity Analyst Accounting and Finance 301,800 DOP
Project Accountant Accounting and Finance 172,200 DOP
Proposal Development Coordinator Accounting and Finance 148,300 DOP
Receivables Accountant Accounting and Finance 154,700 DOP
Regulatory Accountant Accounting and Finance 189,300 DOP
Retirement Plan Analyst Accounting and Finance 259,100 DOP
Revenue Management Specialist Accounting and Finance 288,100 DOP
Revenue Recognition Analyst Accounting and Finance 308,300 DOP
Risk Management Director Accounting and Finance 404,600 DOP
Risk Management Supervisor Accounting and Finance 319,600 DOP
Staff Accountant Accounting and Finance 152,100 DOP
Tax Accountant Accounting and Finance 152,300 DOP
Tax Administrator Accounting and Finance 172,200 DOP
Tax Advisor Accounting and Finance 254,800 DOP
Tax Analyst Accounting and Finance 246,200 DOP
Tax Associate Accounting and Finance 148,300 DOP
Tax Consultant Accounting and Finance 273,300 DOP
Tax Director Accounting and Finance 383,300 DOP
Tax Examiner Accounting and Finance 176,800 DOP
Tax Manager Accounting and Finance 351,900 DOP
Tax Research Manager Accounting and Finance 340,000 DOP
Teller Accounting and Finance 96,220 DOP
Treasury Accountant Accounting and Finance 172,400 DOP
Treasury Analyst Accounting and Finance 263,200 DOP
Underwriting Assistant Accounting and Finance 112,760 DOP
Vice President of Finance Accounting and Finance 444,300 DOP

Salary Comparison by City

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

City Average Salary
Santo Domingo 128,900 DOP

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