Manager, Underwriting Salary

Managers of Underwriting in the United States tend to have a good amount of experience under their belt — approximately three in four have more than 10 years in the field. While pay runs from $62K to $132K per year, median earnings come to $85K annually. With some bonuses approaching $22K and certain profit sharing proceeds approaching $15K, overall incomes of Managers of Underwriting spread between $62K and $132K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by years of experience. Women make up a slight majority of Managers of Underwriting (56 percent) survey respondents. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Job satisfaction is reported as high by the vast majority of workers. The data in this summary comes from the PayScale salary survey.
Read More
$61,061 - $119,696
$61K
$85K
$120K
MEDIAN: $85,069
10%
50%
90%

Add this chart to your site: 640px    300px

$20.07 - $59.18
$20
$35
$59
MEDIAN: $34.96
10%
50%
90%

Add this chart to your site: 640px    300px

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$50K$100K$150K
Salary
$61,061 - $119,696  
   
Bonus
$1,917 - $22,198  
Profit Sharing
$0.00 - $14,639  
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).
)
$61,969 - $132,081  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 293
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$25$50$75
Hourly Rate
$20.07 - $59.18  
   
Overtime
$52.27  
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$50K$100K$150K
Bonus
$1,917 - $22,198  
   
Profit Sharing
$0.00 - $14,639  
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).
)
$61,969 - $132,081  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 11

Find Out Exactly What You Should Be Paid

United States (change)

Employers: Start Here »

Job Description for Manager, Underwriting

An underwriting manager manages the process of ascertaining client eligibility; that is, they supervise the employees who work directly with clients to assess whether or not they are qualified to receive the company's product. The manager might also work directly with clients. Most often, underwriting refers to the business conducted by financial institutes such as banks, credit unions, and other lenders; underwriting is also common in the insurance and real estate industries. An underwriting manager typically has his or her own office and spends the day working directly with other employees and/or clients. They verify employment documents, perform background checks, assess eligibility and risks, and prepare paperwork. The underwriting manager is responsible for making eligibility decisions as well.

Read More...

Manager, Underwriting Tasks

  • Recruit, manage, train, and evaluate the underwriting staff.
  • Assist in the development of agency objectives and budgets.
  • Establish key contacts and positive relationships with customers.
  • Respond to requests from loan officers and underwriters, and serve as the technical expert on issues such as risk analysis, rate development, and general underwriting responsibilities.
  • Manage the profit, growth, and retention of assigned business segments, and develop and oversee account earning plans.

Common Career Paths for Manager, Underwriting


Add this chart to your site:   640px 640px    300px 300px


Though some Managers of Underwriting move into positions like VP of Underwriting (where the average salary is $130K), this progression is not the norm. With an annual salary of $118K, Underwriting Director is the most common role for Managers of Underwriting to subsequently assume on their way up the ladder. Transitioning into a Mortgage Loan Underwriter role — which usually pays $56K — is also typical for Managers of Underwriting, though less common by comparison.

Manager, Underwriting Job Listings

Search for more jobs:

Popular Skills for Manager, Underwriting


Survey results suggest that Managers of Underwriting put a wide range of professional skills to use. Most notably, skills in Operations Management, Financial Analysis, Mortgage Loans, and Loan Underwriting are correlated to pay that is above average, with boosts in pay of 9 percent. Skills that pay less than market rate include Customer Relationship Management and Risk Management / Risk Control. It is often found that people who know Insurance are also skilled in Financial Analysis.

Pay by Experience Level for Manager, Underwriting

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


For many Managers of Underwriting, extensive experience does not lead to significantly more money. Workers with less than five years' experience earn around $78K on average, and those who have five to 10 years under their belts see a higher median salary of $84K. Managers of Underwriting see a median salary of $95K after reaching one to two decades on the job. 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 $96K.

Pay Difference by Location

National Average: $90,988

Larger city markers indicate a job is popular in that location.

Chicago is home to an above-average pay rate for Managers of Underwriting, 35 percent higher than the national average. Managers of Underwriting can also look forward to large paychecks in cities like San Francisco (+35 percent), Atlanta (+34 percent), Hartford (+29 percent), and Minneapolis (+23 percent). Kansas City ranks last in the field for pay, reporting salaries 12 percent below the national average.

Related Job Salaries

Key Stats for Manager, Underwriting

Gender

Female
56 %
Male
44 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 37 votes.
1-4 years
6%
5-9 years
19%
10-19 years
43%
20 years or more
32%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Manager, Underwriting Salaries

▲6%

▲4%

National Average
$91,000

▼7%

▼14%

Skills That Affect Manager, Underwriting Salaries

Operations Management
▲9%


Mortgage Loans
▲8%

People Management
▼0%

Loan Underwriting
▼0%

National Average
$91,000

▼1%

Risk Management / Risk Control
▼4%

Customer Relationship Management (CRM)
▼14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 37 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

1-4 years
6%
5-9 years
19%
10-19 years
43%
20 years or more
32%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 78%
vision benefits
Vision: 68%
dental benefits
None: 10%
ADVERTISEMENT