Underwriter, Commercial Real Estate Salary
Commercial Real Estate Underwriters in the United States take home approximately $74K per year on average. Geography and career length each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Men make up the majority of Commercial Real Estate Underwriters (66 percent) survey respondents. Medical benefits are awarded to almost all, and a large number earn dental coverage. This report is based on answers to PayScale's salary questionnaire.
Job Description for Underwriter, Commercial Real Estate
Underwriters in commercial real estate are tasked with advising loan- and credit-providers regarding the worthiness of borrowers for loans, and they must analyze all information related to a loan request in order to make these recommendations. These reviews include reading and examining financial records, available collateral, and creditworthiness of a prospective borrower, which is a commercial company or business rather than an individual.Read More...
Commercial real estate underwriters spend much of their workdays in an office, though visits to properties are occasionally necessary and they may work closely with a number of different parties. Reports and recommendations must be filed with supervisors, who ensure that the credit decisions adhere to company guidelines and philosophies, and they also communicate with potential borrowers throughout the application process to ensure that all records and necessary materials are received and in proper order.
Close attention to detail, computer skills, and proficiency in writing are essential for this position, and commercial real estate underwriters must be independent, motivated, and able to multitask with minimal supervision. Strong communication skills and knowledge of all aspects of the loan process, including applicable laws and regulations, are also necessary. A bachelor's degree in finance, real estate, business administration, or a related field is generally required for this position, and many employers also require prior experience in the field.
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Pay by Experience Level for Underwriter, Commercial Real Estate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. The average worker who claims fewer than five years of experience earns around $59K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $85K. Commercial Real Estate Underwriters who work for 10 to 20 years in their occupation tend to earn about $94K. Commercial Real Estate Underwriters with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $98K.