With three-fourths of Managers of Underwriting in the United States reporting more than 10 years of experience, the field is heavily weighted toward experienced professionals. Average pay for Managers of Underwriting is $86K annually and can range from $62K on the lower end to $133K per year near the higher end. In the world of Managers of Underwriting, overall cash allowance can occasionally include more than $22K from bonuses and, in some exceptional cases, $14K from profit sharing, causing incomes to vary widely between $62K and $133K. Geography is the biggest factor affecting pay for this group, followed by tenure. Women make up a slight majority of Managers of Underwriting (57 percent) survey respondents. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction for Managers of Underwriting is high. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$61,222 - $119,966
$61K
$86K
$120K
MEDIAN: $85,961
10%
50%
90%

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$20.07 - $59.18
$20
$35
$59
MEDIAN: $34.00
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$50K$100K$150K
Salary
$61,222 - $119,966  
   
Bonus
$1,965 - $21,859  
Profit Sharing
$0.34 - $14,486  
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).
)
$61,821 - $133,102  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 308
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
$1,965 - $21,859  
   
Profit Sharing
$0.34 - $14,486  
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).
)
$61,821 - $133,102  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 11

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United States (change)

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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.

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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


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Managers of Underwriting who advance into the role of a VP of Underwriting are fairly uncommon. VPs of Underwriting on average earn $130K per year. More often than not, an Underwriting Director role is the next step for Managers of Underwriting moving up in the field. Director, Underwritings usually make $118K per year. Many other Managers of Underwriting choose to take on a Mortgage Loan Underwriter role, where salaries are typically $56K.

Manager, Underwriting Job Listings

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Popular Skills for Manager, Underwriting


Managers of Underwriting report using a pretty varied skill set on the job. Most notably, skills in Operations Management, Mortgage Loans, Financial Analysis, and Loan Underwriting are correlated to pay that is above average, with boosts in pay of 7 percent. At the other end of the pay range are skills like Customer Relationship Management and Risk Management / Risk Control. Those proficient in Insurance are, more often than not, 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.


The average worker who claims fewer than five years of experience earns around $69K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $87K. For Managers of Underwriting, 10 to 20 years of experience on the job amounts to an average salary of $97K. Folks who claim more than 20 years of relevant experience actually report a comparatively lower median income of $95K.

Related Job Salaries

Key Stats for Manager, Underwriting

Gender

Female
57 %
Male
43 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 39 votes.
1-4 years
5%
5-9 years
19%
10-19 years
43%
20 years or more
33%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Manager, Underwriting Salaries



National Average
$92,000



Skills That Affect Manager, Underwriting Salaries


Operations Management
up arrow 7%

Mortgage Loans
up arrow 7%


National Average
$92,000



Risk Management / Risk Control
up arrow 5%

Customer Relationship Management (CRM)
up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 39 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

1-4 years
5%
5-9 years
19%
10-19 years
43%
20 years or more
33%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 79%
vision benefits
Vision: 68%
dental benefits
None: 10%
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