Manager, Underwriting Salary

Managers of Underwriting in the United States tend to have a good amount of experience under their belt — about three-fourths have more than 10 years in the field. While pay runs from $57K to $131K per year, median earnings come to $86K annually. Total cash earnings of Managers of Underwriting range from $57K on the low end to $131K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $20K and $15K, respectively. Geographic location is the biggest factor affecting pay for this group, followed by tenure. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Job satisfaction is high and work is enjoyable for most Managers of Underwriting. The data in this summary comes from the PayScale salary survey.
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$54,707 - $118,914

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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.
$54,707 - $118,914  
$207.29 - $20,009  
Profit Sharing
$248.32 - $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).
$56,625 - $130,852  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 418
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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.


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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There are some Managers of Underwriting — though it's uncommon — that transition into VPs of Underwriting, where earnings are an average $129K annually. 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.

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Popular Skills for Manager, Underwriting

Survey results imply that Managers of Underwriting put a diverse skill set to use. Most notably, skills in Financial Analysis, Insurance, Mortgage Loans, and People Management are correlated to pay that is above average, with boosts between 3 percent and 6 percent. Skills that pay less than market rate include Customer Relationship Management and Risk Management / Risk Control. Most people experienced in Financial Analysis also know People Management.

Pay by Experience Level for Manager, Underwriting

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

Managers of Underwriting with a rich background of experience are typically rewarded with larger paychecks. Relatively untried employees who have less than five years' experience make $60K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $86K. Managers of Underwriting claiming one to two decades of experience make an estimated median of $93K. Managers of Underwriting who have stuck around for more than two decades see earnings that are only slightly higher than those of folks who have worked for 10 to 20 years; the more senior group makes around $98K on average.

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Experience Affects Manager, Underwriting Salaries

National Average

up arrow 6%

up arrow 33%

Skills That Affect Manager, Underwriting Salaries

Mortgage Loans
up arrow 3%

National Average

People Management
up arrow 1%

Loan Underwriting
up arrow 2%

Risk Management / Risk Control
up arrow 3%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 87 votes.


55 %
45 %

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: 79%
vision benefits Vision: 65% employee benefits None: 9%