Junior Underwriter Salary

The average Junior Underwriter in the United States earns approximately $46K per year. Career duration and the particular city each impact pay for this group, with the former having the largest influence. The majority of Junior Underwriters claim high levels of job satisfaction. Female Junior Underwriters survey participants are more prevalent than men — 66 percent of professionals. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. The figures in this rundown are based on the results of PayScale's salary questionnaire.

$34,578 - $61,054
$35K
$46K
$61K
MEDIAN: $45,959
10%
50%
90%

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$13.48 - $25.91
$13
$19
$26
MEDIAN: $18.70
10%
50%
90%

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$0$61K
Salary $34,578 - $61,054
Bonus $290.87 - $9,717
Profit Sharing $1,000
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).
)
$34,323 - $61,354
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 111
Hourly Data $0$42
Hourly Rate $13.48 - $25.91
Overtime $19.09 - $42.89
Annual Data $0$61K
Bonus $290.87 - $9,717
Profit Sharing $1,000
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).
)
$34,323 - $61,354
  • Country: United States
  • Currency: USD
  • Updated: 11 Jul 2017
  • Individuals Reporting: 34

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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

  • Assist with underwriting process.
  • Sign off on underwriting conditions.
  • Enter and track information, ensure files are completed.
  • Review and monitor loans.

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 $74K per year.

Junior Underwriter Job Listings

Pay by Experience Level for Junior Underwriter

Pay by Experience for a Junior Underwriter has a positive trend. An entry-level Junior Underwriter with less than 5 years of experience can expect to earn an average total compensation of $44,000 based on 116 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Junior Underwriter with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $48,000 based on 20 salaries. An experienced Junior Underwriter which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $54,000 based on 21 salaries. A Junior Underwriter with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $50,000 based on 9 salaries.

Related Job Salaries

Key Stats for Junior Underwriter

Gender

Female
66 %
Male
34 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 12 votes.
Less than 1 year
14%
1-4 years
54%
5-9 years
13%
10-19 years
13%
20 years or more
5%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Junior Underwriter Salaries

Experienced
▲17%

Late-Career
▲8%

Mid-Career
▲4%

National Average
$46,000

▼4%

Skills That Affect Junior Underwriter Salaries

Insurance
▲1%

National Average
$46,000

Loan Underwriting
▼3%

Risk Management / Risk Control
▼3%

Mortgage Loans
▼14%

Loan Processing
▼24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 12 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
14%
1-4 years
54%
5-9 years
13%
10-19 years
13%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 78%
vision benefits
Vision: 66%
no benefits
None: 9%
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