Manager, Underwriting Salary

Managers of Underwriting in the United States tend to be well-versed in their field, and nearly three-fourths have more than 10 years of experience. Average salary is expected to be around $86K annually, but may range from $57K to $132K per year. Overall cash earnings for Managers of Underwriting stretch from $57K on the lower end to $132K near the top, and the heftiest packages can encompass around $20K from bonuses and $15K from profit sharing. Geographic location is the biggest factor affecting pay for this group, followed by career length. Medical benefits are awarded to most, and a strong majority earn dental coverage. Women Managers of Underwriting who took the survey just slightly outnumber men. Most Managers of Underwriting report high levels of job satisfaction. This overview is based on answers to PayScale's salary questionnaire.
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$55,611 - $119,699
MEDIAN: $85,753

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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.
$55,611 - $119,699  
$204.26 - $20,079  
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).
$57,406 - $131,801  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 411
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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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Managers of Underwriting do not often transition into VP of Underwriting roles. The role averages $129K per year. 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.

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Popular Skills for Manager, Underwriting

Managers of Underwriting generally report applying a varied skill set to their work. Most notably, skills in Financial Analysis, Insurance, Mortgage Loans, and Loan Underwriting are correlated to pay that is above average, with boosts between 3 percent and 6 percent. At the other end of the pay range are skills like Customer Relationship Management, People Management, and Risk Management / Risk Control. Most people skilled in Financial Analysis are similarly competent in 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 lot of experience tend to enjoy higher earnings. Although individuals who have less than five years' experience earn $64K on average, people with five to 10 years benefit from a notably larger average of $86K. Managers of Underwriting with one to two decades of relevant experience report an average salary of approximately $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.

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Experience Affects Manager, Underwriting Salaries

National Average

up arrow 5%

up arrow 30%

Skills That Affect Manager, Underwriting Salaries

Financial Analysis
up arrow 6%

Mortgage Loans
up arrow 3%

Loan Underwriting
up arrow 1%

National Average

Risk Management / Risk Control
up arrow 3%

People Management
up arrow 7%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 90 votes.


54 %
46 %

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: 10%