Manager, Underwriting Salary

Managers of Underwriting in the United States are often veterans in their line of work, with nearly three in four bringing more than 10 years of experience to the table. Salaries slide in at $86K per year on average but can range from $58K to $132K per year. Cash earnings for Managers of Underwriting — which occasionally include more than $20K from bonuses and more than $15K from profit sharing — stretch from around $58K to approximately $132K. Experience level and the particular city each impact pay for this group, with the former having the largest influence. A large number report receiving medical coverage from their employers and most collect dental insurance. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. Job satisfaction is reported as high by the vast majority of workers. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
Read More
$55,834 - $120,527
(Median)
$56K
$86K
$120K
MEDIAN: $86,249
10%
50%
90%

Add this chart to your site: 640px    300px

$9.90 - $42.41
(Median)
$9
$30
$42
MEDIAN: $30
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
$55,834 - $120,527  
   
Bonus
$881 - $20,233  
Profit Sharing
$40.85 - $14,681  
Commission
$8,599  
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).
)
$58,330 - $132,201  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 456
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
$9.90 - $42.41  
   
Overtime
$50.70  
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
$881 - $20,233  
   
Commission
$8,599  
Profit Sharing
$40.85 - $14,681  
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).
)
$58,330 - $132,201  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 11
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: 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

  • 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


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


It's not very common for Managers of Underwriting to move on to become VPs of Underwriting. Average pay for a VP of Underwriting is $129K annually. Becoming an Underwriting Director is, more often than not, the most common role that Managers of Underwriting move into when they're ready for the next step in their career. The average salary for the position is $116K. Another frequent advance is for Managers of Underwriting to assume a Mortgage Loan Underwriter role; in this role, workers often earn $55K.

Manager, Underwriting Job Listings

Search for more jobs:

Popular Skills for Manager, Underwriting


Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Financial Analysis, Mortgage Loans, Loan Underwriting, and Insurance are correlated to pay that is above average, with boosts in pay of 7 percent. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management and Risk Management / Risk Control. Most people who know Financial Analysis also know Insurance.

Pay by Experience Level for Manager, Underwriting

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


Experience is an important factor influencing the compensation of Managers of Underwriting. Respondents with less than five years' experience take home $65K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $86K. Managers of Underwriting claiming one to two decades of experience make an estimated median of $94K. Managers of Underwriting with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $98K.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Manager, Underwriting Salaries



National Average
$91,000


Entry-Level
up arrow 29%

Skills That Affect Manager, Underwriting Salaries


Mortgage Loans
up arrow 7%

Loan Underwriting
up arrow 5%

Insurance
up arrow 4%

People Management
0%

National Average
$91,000

Risk Management / Risk Control
up arrow 4%

Customer Relationship Management (CRM)
up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 92 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

1-4 years
6%
5-9 years
19%
10-19 years
40%
20 years or more
35%

Common Health Benefits

medical benefits
Medical: 89%
dental benefits
Dental: 80%
medical benefits
Vision: 66%
dental benefits
None: 9%
ADVERTISEMENT