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Junior Underwriter Salary

Median pay for Junior Underwriters in the United States is around $45K annually. Geographic location is the biggest factor affecting pay for this group, followed by career duration. The majority of workers are highly satisfied with their job. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The majority of Junior Underwriters (66 percent) who took the survey are female. This snapshot results from replies to PayScale's salary survey.

$34,490 - $60,442
(Median)
$34K
$45K
$60K
MEDIAN: $45,209
10%
50%
90%

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$13.14 - $21.07
(Median)
$13
$17
$21
MEDIAN: $16.00
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$21K$42K$63K
Salary
$34,490 - $60,442  
   
Bonus
$0.00 - $5,500  
Profit Sharing
$1,200 - $2,000  
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).
)
$31,526 - $60,102  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 110
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
$13.14 - $21.07  
   
Overtime
$17.88 - $35.23  
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 - $5,500  
   
Profit Sharing
$1,200 - $2,000  
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).
)
$31,526 - $60,102  
Country: United States | Currency: USD | Updated: 31 Mar 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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Pay by Experience Level for Junior Underwriter

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


For Junior Underwriters, more experience in the field does not usually mean bigger paychecks. Salaries for inexperienced workers average out to $45K, and those with five to 10 years' experience earn a higher median of $42K. Junior Underwriters see a median salary of $48K after reaching one to two decades on the job. More than 20 years of experience mean a somewhat bigger median paycheck of $50K, but it's not much more than what less experienced people make.

Related Job Salaries

United States (change)

Experience Affects Junior Underwriter Salaries

Late-Career
up arrow 15%

Experienced
up arrow 10%

Mid-Career
up arrow 3%

National Average
$43,000

Entry-Level
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 26 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
15%
1-4 years
47%
5-9 years
14%
10-19 years
19%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 77%
vision benefits Vision: 71% employee benefits None: 12%