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Manager, Underwriting Salary

Managers of Underwriting who are practiced in their profession and carry more than 10 years of experience make up about three in four of Managers of Underwriting. Pay fluctuates from $58K to $134K per year, but expected earnings average $86K per year. Overall cash earnings for Managers of Underwriting stretch from $58K on the lower end to $134K near the top, and the heftiest packages can encompass around $20K from bonuses and $15K from profit sharing. Residence and years of experience each impact pay for this group, with the former having the largest influence. Most Managers of Underwriting like their work and job satisfaction is high. Women make up a slight majority of Managers of Underwriting (54 percent) survey respondents. Medical benefits are awarded to a large number, and a fair number earn dental coverage. This snapshot results from replies to PayScale's salary survey.
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$56,045 - $121,272
MEDIAN: $86,214

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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.
$56,045 - $121,272  
$504 - $20,141  
Profit Sharing
$40.00 - $15,000  
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).
$57,786 - $133,700  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 417
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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 who advance into the role of a VP of Underwriting are fairly uncommon. VPs of Underwriting on average earn $129K per year. Going from Manager of Underwriting to Underwriting Director is the transition that occurs most often in this field, where the paychecks are $115K. Many others choose to work as Mortgage Loan Underwriters, where pay is typically $54K.

Manager, Underwriting Job Listings

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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 Insurance, Financial Analysis, Loan Underwriting, and People Management are correlated to pay that is above average, with boosts between 4 percent and 8 percent. Skills that seem to negatively impact pay include Customer Relationship 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. The average worker who claims fewer than five years of experience earns around $64K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $87K. On average, Managers of Underwriting make $94K following one to two decades on the job. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $98K.

Related Job Salaries

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Experience Affects Manager, Underwriting Salaries

up arrow 8%

National Average

up arrow 5%

up arrow 30%

Skills That Affect Manager, Underwriting Salaries

Financial Analysis
up arrow 7%

Loan Underwriting
up arrow 4%

People Management
up arrow 3%

Mortgage Loans
up arrow 3%

National Average

Risk Management / Risk Control
up arrow 4%

Customer Relationship Management (CRM)
up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 93 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: 80%
vision benefits Vision: 66% employee benefits None: 10%