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Underwriter Average Salary in Thailand 2024

How much money does a person working as Underwriter make in Thailand?


Average Monthly Salary
49,300 THB
( 592,000 THB yearly)

LOW
25,100
THB
AVERAGE
49,300
THB
HIGH
75,900
THB
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Underwriter in Thailand typically earns around 49,300 THB. Salaries range from 25,100 THB (lowest) to 75,900 THB (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Underwriter salaries in Thailand vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Underwriter Pay Scale and Salaries in Thailand

Median and salary distribution Thailand Underwriter monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
45,000 THB or more
10% of people earn
40,000 to 45,000 THB
20% of people earn
28,900 THB or less
65% of people earn
28,900 to 40,000 THB
Minimum Salary
25,100 THB
Median
45,200 THB
Maximum
75,900 THB




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Underwriter in Thailand range from 25,100 THB (starting salary) to 75,900 THB (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 45,200 THB, half of the professionals who work as Underwriter in Thailand earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Underwriter in Thailand earn less than 37,300 THB, while 75% earn more. Similarly, the chart shows that 75% earn less than 51,500 THB while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Underwriter in Thailand compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 28,900 THB to 40,000 THB. About 20% of salaries are below the 28,900 THB mark, while 10% fall within the range of 40,000 THB to 45,000 THB. Only 5% of individuals have salaries exceeding 45,000 THB.

Salary Comparison by Years of Experience / Underwriter / Thailand

How do experience and age affect pay?

0 - 2 Years
28,200 THB
2 - 5 Years+31%
36,800 THB
5 - 10 Years+40%
51,600 THB
10 - 15 Years+20%
62,000 THB
15 - 20 Years+9%
67,300 THB
20+ Years+8%
72,600 THB
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Thailand Underwriter
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Underwriter and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 28,200 THB.

While someone with an experience level between two and five years is expected to earn 36,800 THB, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 51,600 THB, 40% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 62,000 THB, 20% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 67,300 THB, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 72,600 THB, 8% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Underwriter / Thailand

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Underwriter.

High School
32,300 THB
Certificate or Diploma+47%
47,500 THB
Bachelor's Degree+53%
72,900 THB
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Thailand Underwriter
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Underwriter in order to make a comparison.


Level 1: High School

Employees at this education level have an average salary of 32,300 THB.


Level 2: Certificate or Diploma

At this level, the average salary becomes 47,500 THB, 47% more than the previous level.


Level 3: Bachelor's Degree

At this level, the average salary becomes 72,900 THB, 53% more than the previous level.



Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Underwriter / Thailand

Salary comparison by gender Thailand Underwriter monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Underwriter in Thailand, the average difference between the salary of male and female employees is 13%.

Male
52,500 THB
Female-12%
46,400 THB
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Thailand for all Careers

Salary comparison by gender monthly Thailand
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Average Annual Salary Increment Percentage / Underwriter / Thailand

How much are annual salary increments in Thailand for individuals working as Underwriter? How often do employees get salary raises?

Individuals working as Underwriter in Thailand are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Annual Salary Increment Rate Thailand Underwriter
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Thailand / All Professions

Annual Salary Increment Rate Thailand
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Thailand is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Underwriter / Thailand

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Thailand Underwriter
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72% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 28% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 1% to 3% of their annual salary.

Received Bonus
28%
No Bonus
72%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Average Hourly Wage / Underwriter / Thailand


280 THB per hour

The average hourly wage (pay per hour) for individuals working as Underwriter in Thailand is 280 THB.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Underwriter in Thailand is 150 THB. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner53,900 THB+9%
Account Executive85,600 THB+74%
Accountant70,100 THB+42%
Accounting Analyst82,800 THB+68%
Accounting Assistant55,700 THB+13%
Accounting Associate52,800 THB+7%
Accounting Clerk42,600 THB-14%
Accounting Coordinator64,600 THB+31%
Accounting Head136,000 THB+180%
Accounting Manager144,000 THB+190%
Accounting Officer50,700 THB+3%
Accounting Specialist94,200 THB+91%
Accounting Supervisor94,200 THB+91%
Accounting Technician51,300 THB+4%
Accounting Unit Controller115,000 THB+130%
Accounts Executive91,000 THB+85%
Accounts Officer55,300 THB+12%
Accounts Payable and Receivable Specialist71,700 THB+45%
Accounts Payable Assistant56,800 THB+15%
Accounts Payable Associate61,400 THB+25%
Accounts Payable Clerk51,300 THB+4%
Accounts Payable Manager138,000 THB+180%
Accounts Receivable Administrator107,000 THB+120%
Accounts Receivable Clerk52,800 THB+7%
Accounts Receivable Financial Analyst98,100 THB+99%
Accounts Receivable Manager140,000 THB+180%
Accounts Receivable Team Leader99,000 THB+100%
Algorithmic Trading Specialist124,000 THB+150%
Assistant Accountant56,200 THB+14%
Assistant Accounting Manager129,000 THB+160%
Assistant Auditor71,600 THB+45%
Assistant Corporate Controller99,000 THB+100%
Assistant Finance Manager146,000 THB+200%
Assistant Financial Controller97,500 THB+98%
Audit Director167,000 THB+240%
Audit Supervisor129,000 THB+160%
Auditing Clerk55,300 THB+12%
Auditing Manager141,000 THB+190%
Billing Clerk55,700 THB+13%
Billing Coordinator61,000 THB+24%
Billing Specialist75,100 THB+52%
Billing Supervisor108,000 THB+120%
Bookkeeper47,200 THB-4%
Bookkeeping Specialist69,900 THB+42%
Budget Analyst125,000 THB+150%
Budget Manager138,000 THB+180%
Business Support Analyst80,800 THB+64%
Capital Markets Associate104,000 THB+110%
Cash Flow Analyst102,000 THB+110%
Cash Management Manager136,000 THB+180%
Cash Management Officer80,300 THB+63%
Cashbook Clerk47,300 THB-4%
Chartered Accountant90,600 THB+84%
Chief Accountant100,000 THB+100%
Chief Financial Technology Officer146,000 THB+200%
Collections Clerk44,600 THB-10%
Collections Representative61,600 THB+25%
Collections Specialist70,600 THB+43%
Corporate Controller109,000 THB+120%
Corporate Treasurer132,000 THB+170%
Cost Accountant67,400 THB+37%
Cost Accounting Manager140,000 THB+180%
Cost Accounting Supervisor111,000 THB+130%
Cost Analyst114,000 THB+130%
Credit and Collection Manager133,000 THB+170%
Credit and Collection Staff54,300 THB+10%
Credit and Loans Officer52,300 THB+6%
Credit Controller96,600 THB+96%
Credit Manager153,000 THB+210%
Debt Adviser121,000 THB+150%
Debt Collector54,200 THB+10%
Debtors Clerk50,300 THB+2%
Debtors Controller50,700 THB+3%
Deputy CFO189,000 THB+280%
Deputy Head of Finance195,000 THB+300%
Derivative Trader117,000 THB+140%
Director of Finance217,000 THB+340%
E-commerce Accountant70,300 THB+43%
Economist167,000 THB+240%
Equity Analyst124,000 THB+150%
Escrow Assistant60,200 THB+22%
Executive Accountant81,600 THB+65%
External Auditor96,200 THB+95%
Finance Administrator81,400 THB+65%
Finance Analyst130,000 THB+160%
Finance Associate61,600 THB+25%
Finance Data Analyst109,000 THB+120%
Finance Director212,000 THB+330%
Finance Executive146,000 THB+200%
Finance Licensing Clerk49,800 THB+1%
Finance Licensing Manager134,000 THB+170%
Finance Licensing Specialist77,000 THB+56%
Finance Manager204,000 THB+310%
Finance Officer66,900 THB+36%
Finance President217,000 THB+340%
Finance Relationship Manager157,000 THB+220%
Finance Release Analyst82,300 THB+67%
Finance Specialist111,000 THB+130%
Finance Team Leader 162,000 THB+230%
Financial Accountant68,100 THB+38%
Financial Actuary109,000 THB+120%
Financial Administrator118,000 THB+140%
Financial Advisor123,000 THB+150%
Financial Analyst133,000 THB+170%
Financial Applications Specialist86,800 THB+76%
Financial Assistant56,800 THB+15%
Financial Associate65,900 THB+34%
Financial Claims Analyst97,300 THB+97%
Financial Claims Manager131,000 THB+170%
Financial Claims Supervisor111,000 THB+130%
Financial Clerk51,400 THB+4%
Financial Commercial Analyst104,000 THB+110%
Financial Compliance Analyst114,000 THB+130%
Financial Compliance Officer109,000 THB+120%
Financial Consultant95,100 THB+93%
Financial Controller116,000 THB+140%
Financial Coordinator65,500 THB+33%
Financial Customer Service Manager123,000 THB+150%
Financial Data Scientist129,000 THB+160%
Financial Dealer and Broker78,500 THB+59%
Financial Director208,000 THB+320%
Financial Encoder58,000 THB+18%
Financial Manager187,000 THB+280%
Financial Modelling Analyst127,000 THB+160%
Financial Operations Manager174,000 THB+250%
Financial Policy Analyst107,000 THB+120%
Financial Project Manager145,000 THB+190%
Financial Quantitative Analyst117,000 THB+140%
Financial Reporting Consultant104,000 THB+110%
Financial Reporting Manager132,000 THB+170%
Financial Section Head136,000 THB+180%
Financial Services Manager174,000 THB+250%
Financial Services Sales Agent77,700 THB+58%
Financial Technology Consultant113,000 THB+130%
Financial Wellness Coach149,000 THB+200%
FinTech Analyst115,000 THB+130%
Fixed Assets Administrator71,000 THB+44%
Forensic Accountant79,300 THB+61%
Fraud Detection Supervisor84,500 THB+71%
Fraud Prevention Manager142,000 THB+190%
Fund Accountant67,600 THB+37%
Grants Coordinator54,400 THB+10%
Green Finance Analyst108,000 THB+120%
Group Financial Manager211,000 THB+330%
Internal Auditor93,200 THB+89%
Internal Control Adviser108,000 THB+120%
Internal Control Officer60,700 THB+23%
International Tax Director162,000 THB+230%
Inventory Accountant72,900 THB+48%
Investment Advisor192,000 THB+290%
Investment Analyst144,000 THB+190%
Investment Associate119,000 THB+140%
Investment Broker112,000 THB+130%
Investment Fund Manager161,000 THB+230%
Investment Operations Manager151,000 THB+210%
Investment Underwriter62,200 THB+26%
Investor89,800 THB+82%
Investor Relations Manager142,000 THB+190%
KYC Team Leader141,000 THB+190%
Loan Processor55,400 THB+12%
Management Accountant76,100 THB+54%
Management Economist164,000 THB+230%
Paymaster57,900 THB+17%
Payroll Administrator95,000 THB+93%
Payroll Benefits Coordinator75,000 THB+52%
Payroll Billing Manager126,000 THB+160%
Payroll Clerk63,700 THB+29%
Payroll Manager123,000 THB+150%
Payroll Officer61,000 THB+24%
Payroll Specialist74,000 THB+50%
Payroll Supervisor87,000 THB+76%
Pensions Administrator74,700 THB+51%
Personal Financial Advisor103,000 THB+110%
Pricing Analyst111,000 THB+130%
Private Equity Analyst130,000 THB+160%
Project Accountant77,300 THB+57%
Proposal Development Coordinator62,800 THB+27%
Quantitative Trader102,000 THB+110%
Receivables Accountant63,700 THB+29%
Regulatory Accountant80,400 THB+63%
Retirement Plan Analyst109,000 THB+120%
Revenue Management Specialist115,000 THB+130%
Revenue Recognition Analyst129,000 THB+160%
Risk Management Director174,000 THB+250%
Risk Management Supervisor145,000 THB+190%
Staff Accountant67,900 THB+38%
Tax Accountant66,800 THB+35%
Tax Administrator75,800 THB+54%
Tax Advisor109,000 THB+120%
Tax Analyst110,000 THB+120%
Tax Associate61,000 THB+24%
Tax Consultant117,000 THB+140%
Tax Director156,000 THB+220%
Tax Examiner74,000 THB+50%
Tax Manager138,000 THB+180%
Tax Research Manager140,000 THB+180%
Teller41,400 THB-16%
Treasury Accountant73,500 THB+49%
Treasury Analyst119,000 THB+140%
Underwriter49,300 THB-0%
Underwriting Assistant47,000 THB-5%
Vice President of Finance188,000 THB+280%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Thailand is 7% on average across all career fields.

Private Sector
94,300 THB
Public Sector+7%
101,000 THB
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Underwriter in Thailand?

A good and competitive compensation would range anywhere between 45,200 THB and 51,500 THB. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Underwriter in Thailand ranges from 25,100 THB to 37,300 THB. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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