In South Africa, the average investment underwriter salary is R19,000. When it comes to mergers and acquisitions, investment underwriters come in handy. These individuals are also adept at researching the terms of securities to ensure that they are acceptable.
Investment Underwriters work for various investment firms in South Africa, and some work for international brands such as Morgan Stanley. Since the job of an investment underwriter necessitates care and diligence, a specific skill set is required.
Bonuses can help an investment underwriter increase his or her salary. An investment underwriter’s bonus in South Africa ranges from R5,000.00 to R92,000.00 per year. An investment underwriter’s bonus is heavily influenced by their performance.
Although investment underwriters receive high bonuses on average, this does not apply to every investment underwriter in South Africa. Only 26% of South African investment underwriters received a bonus in 2023. Those who received a bonus indicated that it ranged from 1% to 3% of their annual salary (Salary Explorer).
An investment underwriter’s income is made up of bonuses and a salary; however, an investment underwriter’s salary has its determinants. An investment underwriter’s salary is influenced by a variety of factors, just like the salaries of most professionals. Below, we look at the factors that influence an investment underwriter’s salary in South Africa.
Factors that influence the salary of an investment underwriter
Education
The salary of an investment underwriter is heavily influenced by their level of education. Investment Underwriters with a high school certificate earn the least, while those with a master’s degree earn the most. An investment underwriter with a high school certificate, for example, earns an average monthly salary of R14,100.00.
Those with only a high school certificate earn 14% less than investment underwriters with a national diploma. Investment Underwriters with a Bachelor’s degree earn R22,700.00 on average, which is 41% more than investment underwriters with a national diploma.
Those with a master’s degree earn an even higher salary, with an average monthly salary of R27,500.00. Master’s degree holders earn 21% more than investment underwriters with a bachelor’s degree.
Employer
An investment underwriter’s salary is heavily influenced by his or her employer. Employers pay different wages for different departments, and working for an employer who pays more than the average salary is more rewarding. Additionally, getting salary increases in between should be prioritized when working as an insurance Underwriter.
Another factor that influences an investment underwriter’s salary is their level of experience in the field. The discussion below shows how the level of experience affects an investment underwriter’s salary.
Salary of investment underwriters based on their level of experience
Salary of an investment underwriter with 0 – 2 years of work experience in 2024
An investment underwriter with 0 to 2 years of experience can expect to earn R11,700.00 per month on average. An investment underwriter with 0 years of experience earns the lowest salary, with an average monthly salary of R10,300.00.
Investment underwriters with 2 years of experience earn the highest salaries in this group, with an average monthly salary of R12,900.00.
Salary of an investment underwriter with 3 – 5 years of work experience in 2024
An investment underwriter with 3 to 5 years of experience earns an average monthly salary of R15,700.00. The salary represents a 34% increase in salary over the average salary of an investment underwriter with 0 to 2 years of experience.
Investment Underwriters with 5 years of experience earn the most in this category, with an average monthly salary of R17,900.00. The lowest-paid investment underwriters in this group are those with 3 years of experience, who earn an average monthly salary of R14,200.00.
Salary of an investment underwriter with 6 – 10 years of work experience in 2024
An investment underwriter with 6 to 10 years of experience earns an average monthly salary of R20,400.00. The salary represents a 30% increase over the average salary of investment underwriters with 3 to 5 years of experience.
Investment underwriters with 10 years of experience earn the most in this category, with an average monthly salary of R21,000.00. The lowest-paid investment underwriters in this category are those with 6 years of experience, and an average monthly salary of R16,100.00.
Salary of an investment underwriter with 11 – 15 years of work experience in 2024
An investment underwriter with 11 to 15 years of experience earns an average monthly salary of R24,700.00. The salary represents a 21% increase over the average salary of investment underwriters with 6 to 10 years of experience.
In this category, investment underwriters with 11 years of experience earn the least, with an average monthly salary of R22,300.00. Investment underwriters with 15 years of experience earn the most, with an average monthly salary of R25,700.00.
Salary of an investment underwriter with 16 – 20 years of work experience in 2024
An investment underwriter with 16 to 20 years of experience earns an average monthly salary of R27,000.00. The salary represents a 9% increase over the average salary of investment underwriters with 11 to 15 years of experience.
Investment Underwriters with 20+ years of experience earn the most, with an average monthly salary of R28,400.00. An investment underwriter with a master’s degree and 20+ years of experience can earn up to R30,300.00 per month.
Conclusion
An investment underwriter’s salary is higher than the national average for those with a master’s degree. Working as an investment underwriter with only a high school certificate, on the other hand, can limit one’s salary and increase the likelihood of earning less than the national average.
