Junior Underwriter Salary

Junior Underwriters in the United States take home an average $45K annually. Geographic location is the biggest factor affecting pay for this group, followed by years of experience. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction for Junior Underwriters is high. There are more female Junior Underwriters who answered the questionnaire than male, making up 66 percent. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$34,495 - $62,297
(Median)
$34K
$45K
$62K
MEDIAN: $45,158
10%
50%
90%

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$13.27 - $22.34
(Median)
$13
$17
$22
MEDIAN: $17.00
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
$34,495 - $62,297  
   
Bonus
$0.00 - $5,192  
Profit Sharing
$1,512  
Commission
$3,000  
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).
)
$32,327 - $61,244  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 159
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
$13.27 - $22.34  
   
Overtime
$17.94 - $34.56  
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 - $5,192  
   
Commission
$3,000  
Profit Sharing
$1,512  
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).
)
$32,327 - $61,244  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 45
United States (change)

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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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Many Junior Underwriters move into Underwriter roles, in which average pay is a slightly higher $50K per year.

Junior Underwriter Job Listings

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Junior Underwriters who responded to the survey report just a handful of professional 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 as a skill 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. People who have worked for fewer than five years bring home $43K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $44K. After working for 10 to 20 years, Junior Underwriters make a median salary of $49K. Junior Underwriters who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $50K.

Related Job Salaries

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Experience Affects Junior Underwriter Salaries

Late-Career
up arrow 12%

Experienced
up arrow 10%

National Average
$44,000

Mid-Career
up arrow 2%

Entry-Level
up arrow 4%

Skills That Affect Junior Underwriter Salaries

Insurance
up arrow 5%

Loan Underwriting
up arrow 1%

National Average
$44,000

Loan Processing
up arrow 21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 28 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
15%
1-4 years
50%
5-9 years
12%
10-19 years
16%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 80%
medical benefits
Vision: 69%
dental benefits
None: 9%
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