Underwriter Average Salary in Prague 2024
How much money does a person working as Underwriter make in Prague?
LOW
16,500
CZK AVERAGE
33,700
CZK HIGH
52,500
CZK
A person working as Underwriter in Prague typically earns around 33,700 CZK. Salaries range from 16,500 CZK (lowest) to 52,500 CZK (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Underwriter salaries in Prague 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 Prague
Salary Structure and Pay Scale Comparison
31,200 CZK or more
27,600 to 31,200 CZK
19,600 CZK or less
19,600 to 27,600 CZK
 16,500 CZK |
31,400 CZK |
52,500 CZK |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Underwriter in Prague range from 16,500 CZK (starting salary) to 52,500 CZK (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 31,400 CZK, half of the professionals who work as Underwriter in Prague 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 Prague earn less than 25,700 CZK, while 75% earn more. Similarly, the chart shows that 75% earn less than 35,900 CZK 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 Prague compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 19,600 CZK to 27,600 CZK. About 20% of salaries are below the 19,600 CZK mark, while 10% fall within the range of 27,600 CZK to 31,200 CZK. Only 5% of individuals have salaries exceeding 31,200 CZK.
Salary Comparison by Years of Experience / Underwriter / Prague
How do experience and age affect pay?
| 0 - 2 Years | 19,500 CZK | |
| 2 - 5 Years | +29% | 25,100 CZK |
| 5 - 10 Years | +38% | 34,700 CZK |
| 10 - 15 Years | +24% | 43,000 CZK |
| 15 - 20 Years | +7% | 46,000 CZK |
| 20+ Years | +7% | 49,100 CZK |
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.
Employees with less than two years of experience earn approximately 19,500 CZK.
While someone with an experience level between two and five years is expected to earn 25,100 CZK, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 34,700 CZK, 38% 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 43,000 CZK, 24% 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 46,000 CZK, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 49,100 CZK, 7% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Underwriter / Prague
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Underwriter.
| High School | 25,100 CZK | |
| Certificate or Diploma | +43% | 35,900 CZK |
| Bachelor's Degree | +38% | 49,600 CZK |
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 25,100 CZK.
Level 2: Certificate or Diploma
At this level, the average salary becomes 35,900 CZK, 43% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 49,600 CZK, 38% more than the previous level.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Underwriter / Prague
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 Czech Republic, the average difference between the salary of male and female employees is 6%.
| Male | 29,200 CZK | |
| Female | -5% | 27,600 CZK |
Salary Comparison By Gender in Czech Republic for all Careers
Average Annual Salary Increment Percentage / Underwriter / Prague
How much are annual salary increments in Prague for individuals working as Underwriter? How often do employees get salary raises?
Individuals working as Underwriter in Czech Republic are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.
Czech Republic / All Professions
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
Worldwide Salary Raises: All Countries and All Jobs
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 / Czech Republic
How much and how often are bonuses being awarded?
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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 / Prague
190 CZK per hourThe average hourly wage (pay per hour) for individuals working as Underwriter in Prague is 190 CZK.This is the rate they get paid for every worked hour.
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 Prague is 95 CZK. 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 Title | Average Salary |
| Accounting and Finance |  -100% | |
| Account Examiner | 36,100 CZK |  +7% |
| Account Executive | 56,500 CZK | +68% |
| Accountant | 47,300 CZK | +41% |
| Accounting Analyst | 57,000 CZK | +69% |
| Accounting Assistant | 37,200 CZK | +11% |
| Accounting Associate | 33,900 CZK | +1% |
| Accounting Clerk | 28,200 CZK | -16% |
| Accounting Coordinator | 43,300 CZK | +29% |
| Accounting Head | 89,500 CZK | +170% |
| Accounting Manager | 94,600 CZK | +180% |
| Accounting Officer | 34,600 CZK | +3% |
| Accounting Specialist | 63,600 CZK | +89% |
| Accounting Supervisor | 65,500 CZK | +95% |
| Accounting Technician | 33,500 CZK | -0% |
| Accounting Unit Controller | 78,100 CZK | +130% |
| Accounts Executive | 61,500 CZK | +83% |
| Accounts Officer | 37,000 CZK | +10% |
| Accounts Payable and Receivable Specialist | 46,100 CZK | +37% |
| Accounts Payable Assistant | 37,200 CZK | +11% |
| Accounts Payable Associate | 43,100 CZK | +28% |
| Accounts Payable Clerk | 33,300 CZK | -1% |
| Accounts Payable Manager | 89,100 CZK | +160% |
| Accounts Receivable Administrator | 69,900 CZK | +110% |
| Accounts Receivable Clerk | 33,700 CZK | +0% |
| Accounts Receivable Financial Analyst | 63,200 CZK | +88% |
| Accounts Receivable Manager | 88,800 CZK | +160% |
| Accounts Receivable Team Leader | 66,500 CZK | +98% |
| Algorithmic Trading Specialist | 79,700 CZK | +140% |
| Assistant Accountant | 34,500 CZK | +3% |
| Assistant Accounting Manager | 87,300 CZK | +160% |
| Assistant Auditor | 46,400 CZK | +38% |
| Assistant Corporate Controller | 61,100 CZK | +82% |
| Assistant Finance Manager | 95,900 CZK | +180% |
| Assistant Financial Controller | 60,700 CZK | +80% |
| Audit Director | 107,000 CZK | +220% |
| Audit Supervisor | 86,000 CZK | +160% |
| Auditing Clerk | 37,000 CZK | +10% |
| Auditing Manager | 100,000 CZK | +200% |
| Billing Clerk | 36,500 CZK | +8% |
| Billing Coordinator | 43,800 CZK | +30% |
| Billing Specialist | 48,100 CZK | +43% |
| Billing Supervisor | 67,900 CZK | +100% |
| Bookkeeper | 29,400 CZK | -13% |
| Bookkeeping Specialist | 45,700 CZK | +36% |
| Budget Analyst | 77,300 CZK | +130% |
| Budget Manager | 93,100 CZK | +180% |
| Business Support Analyst | 52,400 CZK | +56% |
| Capital Markets Associate | 71,800 CZK | +110% |
| Cash Flow Analyst | 68,600 CZK | +100% |
| Cash Management Manager | 90,400 CZK | +170% |
| Cash Management Officer | 52,800 CZK | +57% |
| Cashbook Clerk | 30,600 CZK | -9% |
| Chartered Accountant | 59,000 CZK | +75% |
| Chief Accountant | 71,700 CZK | +110% |
| Chief Financial Technology Officer | 96,100 CZK | +190% |
| Collections Clerk | 28,800 CZK | -14% |
| Collections Representative | 38,600 CZK | +15% |
| Collections Specialist | 48,700 CZK | +45% |
| Corporate Controller | 71,300 CZK | +110% |
| Corporate Treasurer | 91,200 CZK | +170% |
| Cost Accountant | 46,600 CZK | +38% |
| Cost Accounting Manager | 95,300 CZK | +180% |
| Cost Accounting Supervisor | 73,700 CZK | +120% |
| Cost Analyst | 76,900 CZK | +130% |
| Credit and Collection Manager | 90,300 CZK | +170% |
| Credit and Collection Staff | 34,700 CZK | +3% |
| Credit and Loans Officer | 35,100 CZK | +4% |
| Credit Controller | 66,200 CZK | +97% |
| Credit Manager | 102,000 CZK | +200% |
| Debt Adviser | 76,100 CZK | +130% |
| Debt Collector | 37,300 CZK | +11% |
| Debtors Clerk | 32,300 CZK | -4% |
| Debtors Controller | 34,600 CZK | +3% |
| Deputy CFO | 125,000 CZK | +270% |
| Deputy Head of Finance | 127,000 CZK | +280% |
| Derivative Trader | 81,600 CZK | +140% |
| Director of Finance | 133,000 CZK | +300% |
| E-commerce Accountant | 48,200 CZK | +43% |
| Economist | 111,000 CZK | +230% |
| Equity Analyst | 86,500 CZK | +160% |
| Escrow Assistant | 39,700 CZK | +18% |
| Executive Accountant | 50,500 CZK | +50% |
| External Auditor | 68,000 CZK | +100% |
| Finance Administrator | 53,700 CZK | +60% |
| Finance Analyst | 87,500 CZK | +160% |
| Finance Associate | 40,300 CZK | +20% |
| Finance Data Analyst | 73,300 CZK | +120% |
| Finance Director | 137,000 CZK | +310% |
| Finance Executive | 103,000 CZK | +210% |
| Finance Licensing Clerk | 33,700 CZK | +0% |
| Finance Licensing Manager | 89,800 CZK | +170% |
| Finance Licensing Specialist | 51,200 CZK | +52% |
| Finance Manager | 131,000 CZK | +290% |
| Finance Officer | 44,900 CZK | +33% |
| Finance President | 136,000 CZK | +300% |
| Finance Relationship Manager | 112,000 CZK | +230% |
| Finance Release Analyst | 51,200 CZK | +52% |
| Finance Specialist | 78,000 CZK | +130% |
| Finance Team Leader | 108,000 CZK | +220% |
| Financial Accountant | 46,400 CZK | +38% |
| Financial Actuary | 73,700 CZK | +120% |
| Financial Administrator | 75,400 CZK | +120% |
| Financial Advisor | 86,000 CZK | +160% |
| Financial Analyst | 86,500 CZK | +160% |
| Financial Applications Specialist | 58,600 CZK | +74% |
| Financial Assistant | 38,000 CZK | +13% |
| Financial Associate | 45,500 CZK | +35% |
| Financial Claims Analyst | 62,900 CZK | +87% |
| Financial Claims Manager | 83,700 CZK | +150% |
| Financial Claims Supervisor | 78,100 CZK | +130% |
| Financial Clerk | 36,800 CZK | +9% |
| Financial Commercial Analyst | 69,900 CZK | +110% |
| Financial Compliance Analyst | 76,000 CZK | +130% |
| Financial Compliance Officer | 72,300 CZK | +110% |
| Financial Consultant | 62,000 CZK | +84% |
| Financial Controller | 75,400 CZK | +120% |
| Financial Coordinator | 40,900 CZK | +22% |
| Financial Customer Service Manager | 81,200 CZK | +140% |
| Financial Data Scientist | 85,400 CZK | +150% |
| Financial Dealer and Broker | 51,600 CZK | +53% |
| Financial Director | 133,000 CZK | +300% |
| Financial Encoder | 39,500 CZK | +17% |
| Financial Manager | 124,000 CZK | +270% |
| Financial Modelling Analyst | 83,000 CZK | +150% |
| Financial Operations Manager | 114,000 CZK | +240% |
| Financial Policy Analyst | 75,500 CZK | +120% |
| Financial Project Manager | 98,900 CZK | +190% |
| Financial Quantitative Analyst | 83,200 CZK | +150% |
| Financial Reporting Consultant | 68,500 CZK | +100% |
| Financial Reporting Manager | 93,000 CZK | +180% |
| Financial Section Head | 92,100 CZK | +170% |
| Financial Services Manager | 119,000 CZK | +250% |
| Financial Services Sales Agent | 48,900 CZK | +45% |
| Financial Technology Consultant | 73,100 CZK | +120% |
| Financial Wellness Coach | 95,900 CZK | +180% |
| FinTech Analyst | 81,000 CZK | +140% |
| Fixed Assets Administrator | 46,500 CZK | +38% |
| Forensic Accountant | 56,400 CZK | +68% |
| Fraud Detection Supervisor | 55,100 CZK | +64% |
| Fraud Prevention Manager | 91,800 CZK | +170% |
| Fund Accountant | 43,300 CZK | +29% |
| Grants Coordinator | 34,900 CZK | +4% |
| Green Finance Analyst | 71,900 CZK | +110% |
| Group Financial Manager | 140,000 CZK | +320% |
| Internal Auditor | 65,200 CZK | +94% |
| Internal Control Adviser | 70,300 CZK | +110% |
| Internal Control Officer | 39,200 CZK | +16% |
| International Tax Director | 112,000 CZK | +230% |
| Inventory Accountant | 48,900 CZK | +45% |
| Investment Advisor | 122,000 CZK | +260% |
| Investment Analyst | 90,600 CZK | +170% |
| Investment Associate | 80,900 CZK | +140% |
| Investment Broker | 77,400 CZK | +130% |
| Investment Fund Manager | 108,000 CZK | +220% |
| Investment Operations Manager | 104,000 CZK | +210% |
| Investment Underwriter | 41,400 CZK | +23% |
| Investor | 63,000 CZK | +87% |
| Investor Relations Manager | 89,300 CZK | +170% |
| KYC Team Leader | 94,100 CZK | +180% |
| Loan Processor | 39,800 CZK | +18% |
| Management Accountant | 54,000 CZK | +60% |
| Management Economist | 103,000 CZK | +210% |
| Paymaster | 39,100 CZK | +16% |
| Payroll Administrator | 62,600 CZK | +86% |
| Payroll Benefits Coordinator | 49,200 CZK | +46% |
| Payroll Billing Manager | 81,900 CZK | +140% |
| Payroll Clerk | 41,600 CZK | +24% |
| Payroll Manager | 87,900 CZK | +160% |
| Payroll Officer | 39,300 CZK | +17% |
| Payroll Specialist | 47,200 CZK | +40% |
| Payroll Supervisor | 61,700 CZK | +83% |
| Pensions Administrator | 47,000 CZK | +40% |
| Personal Financial Advisor | 72,200 CZK | +110% |
| Pricing Analyst | 79,700 CZK | +140% |
| Private Equity Analyst | 83,300 CZK | +150% |
| Project Accountant | 51,700 CZK | +54% |
| Proposal Development Coordinator | 39,500 CZK | +17% |
| Quantitative Trader | 65,100 CZK | +93% |
| Receivables Accountant | 43,200 CZK | +28% |
| Regulatory Accountant | 52,400 CZK | +56% |
| Retirement Plan Analyst | 71,300 CZK | +110% |
| Revenue Management Specialist | 74,600 CZK | +120% |
| Revenue Recognition Analyst | 90,300 CZK | +170% |
| Risk Management Director | 108,000 CZK | +220% |
| Risk Management Supervisor | 89,100 CZK | +160% |
| Staff Accountant | 46,100 CZK | +37% |
| Tax Accountant | 41,900 CZK | +25% |
| Tax Administrator | 49,900 CZK | +48% |
| Tax Advisor | 70,900 CZK | +110% |
| Tax Analyst | 71,300 CZK | +110% |
| Tax Associate | 37,900 CZK | +13% |
| Tax Consultant | 74,700 CZK | +120% |
| Tax Director | 109,000 CZK | +220% |
| Tax Examiner | 50,800 CZK | +51% |
| Tax Manager | 92,600 CZK | +180% |
| Tax Research Manager | 93,100 CZK | +180% |
| Teller | 27,300 CZK | -19% |
| Treasury Accountant | 48,700 CZK | +45% |
| Treasury Analyst | 75,700 CZK | +120% |
| Underwriter | 33,700 CZK | +0% |
| Underwriting Assistant | 31,800 CZK | -5% |
| Vice President of Finance | 123,000 CZK | +270% |
Salary Comparison By City
| City | Average Salary |
| Prague | 33,700 CZK |
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 Czech Republic is 7% on average across all career fields.
| Private Sector | 59,300 CZK | |
| Public Sector | +7% | 63,600 CZK |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Underwriter in Prague?
A good and competitive compensation would range anywhere between 31,400 CZK and 35,900 CZK. 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 Prague ranges from 16,500 CZK to 25,700 CZK. 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
