Manager, Underwriting Salary

Managers of Underwriting in the United States tend to be well-versed in their field, and approximately three in four 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. Total cash compensation to Managers of Underwriting approaches anywhere from $57K on the lower end to $132K 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. Medical benefits are awarded to most, and a strong majority earn dental coverage. Work is enjoyable for Managers of Underwriting, who typically claim high levels of job satisfaction. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Read More
$54,860 - $119,562
MEDIAN: $85,679

Add this chart to your site: 640px    300px

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.
$54,860 - $119,562  
$206.08 - $20,062  
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).
$56,818 - $131,637  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 414
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)

Comp Managers: Start Here »

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

Add this chart to your site:   640px 640px    300px 300px

Though some Managers of Underwriting move into positions like VP of Underwriting (where the average salary is $128K), this progression is not the norm. As Managers of Underwriting progress in their field, many go on to become Underwriting Directors. In fact, this transition is more common than anything else, and pay for the position is usually $115K per year. Another common career choice for Managers of Underwriting is to move into a Mortgage Loan Underwriter role. Typically, Mortgage Loan Underwriters get paid $54K.

Manager, Underwriting Job Listings

Search for more jobs:

Popular Skills for Manager, Underwriting

Survey results show that Managers of Underwriting use a fair number of skills. 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. Skills that are correlated to lower pay, on the other hand, include Customer Relationship Management, People Management, and Risk Management / Risk Control. The majority of those who know 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, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Those in the early stages of their career can expect to make around $61K; however, individuals with five to 10 years of experience bring in $86K on average — a distinctly larger sum. Managers of Underwriting who work for 10 to 20 years in their occupation tend to earn about $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.

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)

Comp Managers: Start Here »

Experience Affects Manager, Underwriting Salaries

National Average

up arrow 5%

up arrow 33%

Skills That Affect Manager, Underwriting Salaries

Mortgage Loans
up arrow 3%

National Average

Loan Underwriting
up arrow 2%

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 88 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%