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Manager, Underwriting Salary

With approximately three-fourths of Managers of Underwriting in the United States reporting more than 10 years of experience in the field, this area is heavily weighted toward experienced professionals. Pay ranges from $58K to $134K per year and averages out to $86K annually. Total cash compensation to Managers of Underwriting approaches anywhere from $58K on the lower end to $134K on the higher end; in exceptional cases, this can include more than $20K from bonuses and upwards of $15K from profit sharing. Geography is the biggest factor affecting pay for this group, followed by experience level. Women Managers of Underwriting who took the survey just slightly outnumber men. Job satisfaction for Managers of Underwriting is high. Medical benefits are awarded to most, and a strong majority earn dental coverage. This report is based on responses to the PayScale salary survey.
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$56,185 - $121,501
MEDIAN: $86,190

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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.
$56,185 - $121,501  
$500 - $20,177  
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).
$57,911 - $133,956  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 412

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United States (change)

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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. The most common career progression for Managers of Underwriting leads to becoming an Underwriting Director, where average pay is $115K annually. However, many Managers of Underwriting also opt to become Mortgage Loan Underwriters. Typically, a Mortgage Loan Underwriter brings home $54K.

Manager, Underwriting Job Listings

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Popular Skills for Manager, Underwriting

Managers of Underwriting report using a diverse set of skills on the job. Most notably, skills in People Management, Insurance, Financial Analysis, and Loan Underwriting are correlated to pay that is above average, with boosts between 7 percent and 9 percent. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management and Risk Management / Risk Control. Most people familiar with 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.

For many Managers of Underwriting, more experience generally translates to higher pay. The average beginner in this position makes around $62K, but folks who have been around for five to 10 years see a markedly higher median salary of $85K. On average, Managers of Underwriting make $93K following one to two decades on the job. 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

up arrow 8%

National Average

up arrow 6%

up arrow 31%

Skills That Affect Manager, Underwriting Salaries

People Management
up arrow 9%

Financial Analysis
up arrow 7%

Loan Underwriting
up arrow 5%

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 94 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%