Junior Underwriter Salary

Earnings for Junior Underwriters in the United States come in at around $45K annually on average. Residence is the biggest factor affecting pay for this group, followed by experience level. For the most part, Junior Underwriters enjoy their work and report high levels of job satisfaction. The majority of Junior Underwriters (67 percent) who took the survey are women. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$34,596 - $59,450
(Median)
$35K
$45K
$59K
MEDIAN: $45,196
10%
50%
90%

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$13.12 - $22.15
(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
$34,596 - $59,450  
   
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).
)
$32,058 - $59,342  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 127
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
$13.12 - $22.15  
   
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).
)
$32,058 - $59,342  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 39
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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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Survey takers who work as Junior Underwriters usually 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 as skills, however, tend to be associated with significantly smaller paychecks.

Pay by Experience Level for Junior Underwriter

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


Junior Underwriters with a lot of experience do not necessarily enjoy more money. The average inexperienced worker's salary is approximately $43K, and people with five to 10 years of experience bring in more at around $44K on average. The average pay reported by folks with 10 to 20 years of experience is around $48K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $49K.

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Experience Affects Junior Underwriter Salaries

Late-Career
up arrow 11%

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
67 %
Male
33 %

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