Junior Underwriter Salary

Median pay for Junior Underwriters in the United States is around $45K annually. Location is the biggest factor affecting pay for this group, followed by experience level. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Female Junior Underwriters are more common than men among those who completed the survey; more than half (66 percent) are women. Work is enjoyable for Junior Underwriters, who typically claim high levels of job satisfaction. The data for this synopsis comes from respondents who took the PayScale salary survey.

$34,621 - $59,397

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$13.40 - $22.10

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$20K$40K$60K
Salary
$34,621 - $59,397  
   
Bonus
$0.00 - $5,175  
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).
)
$32,466 - $59,249  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 128
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$12$24$36
Hourly Rate
$13.40 - $22.10  
   
Overtime
$18.00 - $35.00  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$24K$48K$72K
Bonus
$0.00 - $5,175  
   
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).
)
$32,466 - $59,249  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 40
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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 note just a narrow range of job skills. Those who have experience with Insurance, Loan Underwriting, and Loan Processing can expect to be compensated well for these skills. Those listing Loan Processing and Loan Underwriting as skills, on the other hand, should be prepared for drastically 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 $49K, 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 11%

Experienced
up arrow 8%

National Average
$44,000

Mid-Career
up arrow 1%

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 25 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
14%
1-4 years
48%
5-9 years
14%
10-19 years
17%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 87% dental benefits Dental: 79%
vision benefits Vision: 72% employee benefits None: 9%
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