Junior Underwriter Salary

Median pay for Junior Underwriters in the United States is around $45K per year. Residence and years of experience each impact pay for this group, with the former having the largest influence. Women account for the majority of Junior Underwriters who responded to the questionnaire — 66 percent to be exact. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The majority of workers are highly satisfied with their job. The numbers in this rundown were provided by PayScale's salary survey participants.

$34,660 - $59,503
(Median)
$35K
$45K
$60K
MEDIAN: $45,287
10%
50%
90%

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$13.09 - $21.69
(Median)
$13
$17
$22
MEDIAN: $17.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$20K$40K$60K
Salary
$34,660 - $59,503  
   
Bonus
$0.00 - $5,190  
Profit Sharing
$1,000 - $1,965  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$31,993 - $59,438  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 126
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$12$24$36
Hourly Rate
$13.09 - $21.69  
   
Overtime
$18.00 - $35.00  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Bonus
$0.00 - $5,190  
   
Profit Sharing
$1,000 - $1,965  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$31,993 - $59,438  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 38
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Job Description for Junior Underwriter

A junior underwriter generally work under an underwriter, helping carry out the duties required in determining whether or not a loan should be given. The junior underwriter performs many of the same duties as an underwriter, such as investigating loan eligibility, making decisions on whether or not loans are to be granted, and explaining why a loan was granted or denied as required. Quality checks and reports are often required of a junior underwriter. They also put together documentation, update data, and create reports relating to the loans.

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Junior Underwriter Tasks

  • Enter and track information, ensure files are completed.
  • Review and monitor loans.
  • Assist with underwriting process.
  • Sign off on underwriting conditions.

Junior Underwriter Job Listings

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Junior Underwriters only report a few specific skills. Those who have experience with Insurance, Loan Underwriting, and Loan Processing can expect to be compensated well for these skills. Loan Processing and Loan Underwriting, on the other hand, are typically associated with much lower pay.

Pay by Experience Level for Junior Underwriter

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Junior Underwriters with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Folks who are navigating the first five years of their careers have a median salary of approximately $43K in this position. Those who have been around for five to 10 years don't get much more, though; the median salary in that group is $44K. Junior Underwriters bring in $48K after working for 10 to 20 years. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $50K, demonstrating that compensation is roughly commensurate with experience in the end.

Related Job Salaries

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Experience Affects Junior Underwriter Salaries

Late-Career
up arrow 12%

Experienced
up arrow 8%

Mid-Career
0%

National Average
$44,000

Entry-Level
up arrow 3%

Skills That Affect Junior Underwriter Salaries

Insurance
up arrow 6%

National Average
$44,000

Loan Underwriting
up arrow 21%

Loan Processing
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 26 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
14%
1-4 years
49%
5-9 years
14%
10-19 years
17%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 79%
vision benefits Vision: 72% employee benefits None: 10%
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