John Michael "Mike" McDonough

John Michael "Mike" McDonough

Chicago, Illinois, United States
20K followers 500+ connections

About

Thanks for taking the time to learn more about me through my LinkedIn profile. I…

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Articles by John Michael "Mike"

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Activity

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Experience

Education

  • Western Illinois University Graphic

    Western Illinois University

    -

    Activities and Societies: Water Polo Club, Marathon training

    Well rounded education with a wide variety of classes and life experiences gained while working and attending WIU in Macomb,IL

Volunteer Experience

  • Love INC Graphic

    Volunteer

    Love INC

    - 16 years 1 month

    Economic Empowerment

    Volunteering with over 150 others from local churches to pick up furniture donations in Lake County Illinois and then distribute furniture to people who are in need of furniture. Our church also has been visiting people in a local nursing home with our dogs as part of "Dog Day" and this has blessed everyone involved.

Publications

  • Making the right insurance hire in 2023

    gsr4you.com/blog/

    Guidance for hiring the right insurance talent in 2023

    See publication
  • Underwriting for Recent Grads Why underwriting is a promising field for graduates and young professionals.

    General Search & Recruitment

    Underwriting for Recent Grads

    Underwriting for Recent Grads
    Why underwriting is a promising field for graduates and young professionals.
    By: Mike McDonough

    In the past few years, we’ve seen hundreds of underwriting opportunities come through our office. We’ve filled quite a few for upper level and executive underwriters, but we’re seeing more and more positions for recent grads and professionals with just a few years of experience. Below are just a few reasons why pursuing…

    Underwriting for Recent Grads

    Underwriting for Recent Grads
    Why underwriting is a promising field for graduates and young professionals.
    By: Mike McDonough

    In the past few years, we’ve seen hundreds of underwriting opportunities come through our office. We’ve filled quite a few for upper level and executive underwriters, but we’re seeing more and more positions for recent grads and professionals with just a few years of experience. Below are just a few reasons why pursuing a career in underwriting, especially insurance underwriting, could pay off for younger candidates in the field.

    Salary
    The median starting salary for an underwriter is around $55,000, but some new hires on the coast are seeing entry-level jobs start at $70,000 and above. Most professionals see that number rise by $5,000-$7,000 after they accrue around 5 years of experience. If that sounds like a good start, it should only get more lucrative in the future. In the last 10 years alone, the median annual salary for underwriters has risen by $10,000. Most analysts see this number continuing to grow as the role becomes more in demand in the years to come.

    Security
    In addition to the financial security, a career in underwriting also offers a great deal of job security for professionals in the field. Most hiring managers in the underwriting industry see at least 6% growth for the position in the future. There’s so much demand in the industry that hiring managers are actively recruiting Insurance underwriters from other fields to train and transition into the role. This field is also more recession-proof than most industries because insurance companies tend to be conservative with their hiring and staffing, even during economic booms.

    Upward Mobility
    If job security and financial stability aren’t enough... http://gsr4you.com/2017/02/20/underwriting/

    See publication
  • November Job Market Observations

    Mike McDonough

    Observations for Insurance Industry Job Market.

    See publication
  • July Job Market Observations

    Mike McDonough

    July Job Market Observations for the Insurance Industry

    See publication

Courses

  • Born to Win Course

    -

Projects

Honors & Awards

  • 2013 Top Split Producer, 2018 Top Split Producer

    National Insurance Recruiters Association

    Recently elected to serve as President on the Board of the National Insurance Recruiters Association in May of 2015 and again in May of 2017.

    Completed more search assignments with split partners than any of the other member companies for 2013. Underwriting Talent and Claims Leadership Talent was the area where Mike had the most split placements.
    http://insurancerecruiters.com/

Languages

  • English

    -

Organizations

  • Hidden Jobs 4 you http://hiddenjobs4you.com/

    Co-Founder

    - Present

    Co-Founded a Job Board to uncover hidden jobs for all. This job board provides services to assist individuals elevate careers and human resources and talent acquisition experts identify talent in all industries. Check www.hiddenjobs4you.com

  • National Insurance Recruiters Association (NIRA) http://insurancerecruiters.com/

    Board Member

    - Present

    Recently elected to serve as President of this global recruiting association. Working with executive recruiting firms to identify talented people and place more insurance people in insurance jobs nationally. Placing Underwriting Executives and other key leaders is where my firm has had the most success. Our processes and research team is outstanding.Have developed business relationships with other recruiting firm owners who are committed to delivering outstanding results to both client…

    Recently elected to serve as President of this global recruiting association. Working with executive recruiting firms to identify talented people and place more insurance people in insurance jobs nationally. Placing Underwriting Executives and other key leaders is where my firm has had the most success. Our processes and research team is outstanding.Have developed business relationships with other recruiting firm owners who are committed to delivering outstanding results to both client companies and individuals. nirassn.com

  • Professional Liability Underwriting Society

    Member

    - Present

    Partnering with professional liability companies, reinsurers, brokers, wholesales to assist in recruiting top underwriting talent or making progress in reaching career objectives. Have been active in this association for many years. Delivering talent and opportunities for advancement to people seeking insurance jobs or clients looking for talented and hard to identify top performers.

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