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Junior Underwriter Salary

The average Junior Underwriter in the United States can expect to rake in roughly $45K per year. Location and tenure each impact pay for this group, with the former having the largest influence. There are more female Junior Underwriters who answered the questionnaire than male, making up 64 percent. Most Junior Underwriters like their work and job satisfaction is high. Medical benefits are awarded to a large number, and a fair number earn dental coverage. The data for this snapshot was collected from individuals who took PayScale's salary survey.
$34,396 - $61,277
(Median)
34K
45K
51K
61K
MEDIAN: $44,945
10%
50%
75%
90%

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$12.91 - $21.70
(Median)
13
17
19
22
MEDIAN: $17.00
10%
50%
75%
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
$34,396 - $61,277  
   
Bonus
$0.00 - $5,175  
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).
)
$31,460 - $61,665  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 100
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
$12.91 - $21.70  
   
Overtime
$17.62 - $33.73  
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 - $5,175  
   
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).
)
$31,460 - $61,665  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 32
United States (change)

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.


Junior Underwriters with a lot of experience do not necessarily enjoy more money. During the first five years of their careers, Junior Underwriters see a median income of $41K. Survey respondents with five to 10 years of experience report an only modestly higher median of $43K. Junior Underwriters who work for 10 to 20 years in their occupation tend to earn about $48K. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $50K.

Experience Affects Junior Underwriter Salaries

Late-Career
up arrow 16%

Experienced
up arrow 12%

National Average
$43,000

Mid-Career
up arrow 1%

Entry-Level
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 22 votes.

Gender

Female
64 %
Male
36 %

Years of Experience

Less than 1 year
11%
1-4 years
48%
5-9 years
16%
10-19 years
20%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 77%
vision benefits Vision: 66% employee benefits None: 11%