Manager, Underwriting Salary

Managers of Underwriting in the United States are often veterans in their line of work, with roughly three in four bringing more than 10 years of experience to the table. Salaries slide in at $86K annually on average but can range from $58K to $134K 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 $134K. Geography is the biggest factor affecting pay for this group, followed by years of experience. Most workers in this position report high levels of job satisfaction. Women make up a slight majority of Managers of Underwriting (54 percent) survey respondents. Medical benefits are awarded to most, and a strong majority earn dental coverage. The data in this summary comes from the PayScale salary survey.
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$55,721 - $121,675
(Median)
$56K
$86K
$120K
MEDIAN: $85,902
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$50K$100K$150K
Salary
$55,721 - $121,675  
   
Bonus
$490.68 - $20,218  
Profit Sharing
$39.45 - $15,364  
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).
)
$57,629 - $134,301  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 402

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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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While Managers of Underwriting do not often become VPs of Underwriting, the job pays $129K per year on average. With an annual salary of $115K, 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 $54K — is also typical for Managers of Underwriting, though less common by comparison.

Manager, Underwriting Job Listings

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Popular Skills for Manager, Underwriting


Managers of Underwriting seem to require a number of specific skills. Most notably, skills in People Management, Insurance, Financial Analysis, and Loan Underwriting are correlated to pay that is above average, with boosts between 8 percent and 12 percent. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management, Mortgage Loans, and Risk Management / Risk Control. Those proficient in Financial Analysis are, more often than not, also skilled in People Management.

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. Salaries for the relatively untried average out to around $62K, but survey participants with five to 10 years of experience earn a significantly higher median of $85K. For Managers of Underwriting, 10 to 20 years of experience on the job amounts to an average salary of $93K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $98K.

Related Job Salaries

United States (change)

Experience Affects Manager, Underwriting Salaries

Late-Career
up arrow 8%


National Average
$91,000

Mid-Career
up arrow 7%

Entry-Level
up arrow 32%

Skills That Affect Manager, Underwriting Salaries

People Management
up arrow 12%


Financial Analysis
up arrow 8%

Loan Underwriting
up arrow 7%

National Average
$91,000

Risk Management / Risk Control
up arrow 3%

Mortgage Loans
up arrow 10%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 96 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

1-4 years
5%
5-9 years
19%
10-19 years
38%
20 years or more
38%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 80%
vision benefits Vision: 66% employee benefits None: 9%