Junior Underwriters in the United States take home approximately $46K annually on average. Career duration is the biggest factor affecting pay for this group, followed by geography. Most report receiving medical coverage from their employers and a large number collect dental insurance. The majority of Junior Underwriters claim high levels of job satisfaction. Female Junior Underwriters make up most of the survey respondents at 70 percent. This overview is based on answers to PayScale's salary questionnaire.

$34,946 - $62,782
(Median)
$35K
$46K
$63K
MEDIAN: $46,190
10%
50%
90%

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$13.99 - $25.95
(Median)
$14
$19
$26
MEDIAN: $18.00
10%
50%
90%

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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$21K$42K$63K
Salary
$34,946 - $62,782  
   
Bonus
$4.79 - $9,183  
Profit Sharing
$1,017  
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).
)
$34,253 - $61,567  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 124
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$14$28$42
Hourly Rate
$13.99 - $25.95  
   
Overtime
$18.50 - $41.94  
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$28K$56K$84K
Bonus
$4.79 - $9,183  
   
Profit Sharing
$1,017  
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).
)
$34,253 - $61,567  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 33
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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.

Common Career Paths for Junior Underwriter


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At the upper end, Junior Underwriters who move into a Senior Underwriter role can end up with a hefty increase in pay. The average income for Senior Underwriters is a much higher $73K per year.

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.


Relatively untried employees who have less than five years' experience have a median salary of $45K. Those who have been around for five to 10 years can expect to take home more — $49K on average. Junior Underwriters see a median salary of $54K after reaching one to two decades on the job. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $52K on average.

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Experience Affects Junior Underwriter Salaries

Experienced
up arrow 16%

Late-Career
up arrow 12%

Mid-Career
up arrow 5%

National Average
$46,000

Entry-Level
up arrow 3%

Skills That Affect Junior Underwriter Salaries

Insurance
up arrow 1%

National Average
$46,000

Loan Underwriting
up arrow 3%

Loan Processing
up arrow 24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 19 votes.

Gender

Female
70 %
Male
30 %

Years of Experience

Less than 1 year
17%
1-4 years
56%
5-9 years
11%
10-19 years
10%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 80%
medical benefits
Vision: 66%
dental benefits
None: 11%
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