Managers of Underwriting who are practiced in their profession and carry more than 10 years of experience make up close to three-fourths of Managers of Underwriting. Pay fluctuates from $61K to $133K per year, but expected earnings average $85K annually. Total cash compensation for Managers of Underwriting runs from $61K to $133K depending on bonuses that can occasionally exceed $22K and profit sharing that can reach almost $12K. Residence is the biggest factor affecting pay for this group, followed by career duration. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 58 percent. Medical benefits are awarded to most, and a strong majority earn dental coverage. Job satisfaction for Managers of Underwriting is high. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$59,759 - $119,851
(Median)
$60K
$85K
$120K
MEDIAN: $85,260
10%
50%
90%

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$20.07 - $59.18
(Median)
$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
$59,759 - $119,851  
   
Bonus
$1,495 - $21,606  
Profit Sharing
$0.00 - $12,111  
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).
)
$60,617 - $132,940  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 310
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
$1,495 - $21,606  
   
Profit Sharing
$0.00 - $12,111  
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).
)
$60,617 - $132,940  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 11
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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

  • 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.
  • Establish key contacts and positive relationships with customers.
  • Recruit, manage, train, and evaluate the underwriting staff.
  • Assist in the development of agency objectives and budgets.

Common Career Paths for Manager, Underwriting


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Managers of Underwriting sometimes assume positions such as VPs of Underwriting. That role pays $130K per year on average. An Underwriting Director role is the most common promotion for Managers of Underwriting moving up the ladder, and pay for the position tends to be around the $117K mark. Another typical, albeit less common, transition for Managers of Underwriting is a Mortgage Loan Underwriter position, where earnings are usually $55K.

Manager, Underwriting Job Listings

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Popular Skills for Manager, Underwriting


Managers of Underwriting report using a wide range of professional skills. Most notably, skills in Mortgage Loans, Financial Analysis, Loan Underwriting, and People Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management and Risk Management / Risk Control. Those familiar with Insurance also tend to know 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 $66K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $87K. Managers of Underwriting see a median salary of $96K after reaching one to two decades on the job. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $93K by contrast.

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Experience Affects Manager, Underwriting Salaries



National Average
$91,000


Entry-Level
up arrow 28%

Skills That Affect Manager, Underwriting Salaries

Mortgage Loans
up arrow 8%


Loan Underwriting
0%

National Average
$91,000

People Management
up arrow 1%

Insurance
up arrow 3%

Risk Management / Risk Control
up arrow 4%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

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

Gender

Female
58 %
Male
42 %

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: 86%
dental benefits
Dental: 78%
medical benefits
Vision: 68%
dental benefits
None: 10%
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