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Manager, Underwriting Salary

The majority of Managers of Underwriting in the United States — roughly three in four — boast more than 10 years of experience in their profession. Salaries stretch from $58K to $134K per year, and the median is $85K annually. Final cash compensation to Managers of Underwriting varies from around $58K to approximately $134K; choice pay grades include potential for bonuses and profit sharing as high as $20K and $15K, respectively. Career duration is the biggest factor affecting pay for this group, followed by geography. Job satisfaction for Managers of Underwriting is high. Women make up a slight majority of Managers of Underwriting (53 percent) survey respondents. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$55,616 - $121,275
MEDIAN: $85,095

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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.
$55,616 - $121,275  
$881 - $20,115  
Profit Sharing
$39.73 - $15,101  
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).
$57,917 - $133,783  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 403
United States (change)

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.


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 not commonly seen, Managers of Underwriting who transition into a VP of Underwriting position may see a rise in pay. The median salary for VPs of Underwriting is $129K per year. 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 $114K mark. Another typical, albeit less common, transition for Managers of Underwriting is a Mortgage Loan Underwriter position, where earnings are usually $54K.

Manager, Underwriting Job Listings

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Managers of Underwriting report using a diverse set of skills on the job. Most notably, skills in People Management, Financial Analysis, Insurance, and Loan Underwriting are correlated to pay that is above average, with boosts between 10 percent and 13 percent. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management, Mortgage Loans, and Risk Management / Risk Control. Financial Analysis and Insurance are also commonly seen together.

Pay by Experience Level for Manager, Underwriting

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

Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Survey participants with less than five years' experience pocket $65K on average, but those with five to 10 years of experience enjoy a much bigger median of $83K. Managers of Underwriting who work for 10 to 20 years in their occupation tend to earn about $93K. 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 $100K.

Related Job Salaries

Experience Affects Manager, Underwriting Salaries

up arrow 10%

up arrow 3%

National Average

up arrow 8%

up arrow 28%

Skills That Affect Manager, Underwriting Salaries

People Management
up arrow 13%

Financial Analysis
up arrow 11%

up arrow 10%

Loan Underwriting
up arrow 7%

National Average

Risk Management / Risk Control
up arrow 5%

Mortgage Loans
up arrow 9%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 111 votes.


53 %
47 %

Years of Experience

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

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 80%
vision benefits Vision: 65% employee benefits None: 9%