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The differences between audit managers and underwriting managers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-8 years to become both an audit manager and an underwriting manager. Additionally, an audit manager has an average salary of $121,419, which is higher than the $77,426 average annual salary of an underwriting manager.
The top three skills for an audit manager include CPA, internal audit and audit reports. The most important skills for an underwriting manager are customer service, portfolio, and risk management.
| Audit Manager | Underwriting Manager | |
| Yearly salary | $121,419 | $77,426 |
| Hourly rate | $58.37 | $37.22 |
| Growth rate | 17% | 17% |
| Number of jobs | 70,168 | 44,546 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 73% |
| Average age | 46 | 46 |
| Years of experience | 8 | 8 |
An audit manager is responsible for the complete audit process of finances in an organization. They work for banks and report directly to the audit committee. Based on findings gathered, a financial institution can gain vision into their variance and overall performance. They are also responsible for scheduling audits, initiating departmental audits, consolidation, and analysis of audit reports, and reviewing accounting procedures. Moreover, part of their tasks is to create audit finding presentations to be presented to the audit committee. It requires a high amount of accountability to be an effective audit manager.
Underwriting managers work mostly in the financial and insurance industries to provide management for all underwriting activities, including loan applications and insurance products. They oversee a team of associate-level staff, assigning them insurance or loan plans to evaluate and underwrite, ensuring that they comprehend expectations and timelines, and provide support by answering questions. They are team leaders, leading associate-level underwriters altogether activities, supporting risk management, and financial due diligence activities. In addition, underwriting managers also play a significant role in developing and enacting policies and procedures in regional offices.
Audit managers and underwriting managers have different pay scales, as shown below.
| Audit Manager | Underwriting Manager | |
| Average salary | $121,419 | $77,426 |
| Salary range | Between $82,000 And $178,000 | Between $50,000 And $119,000 |
| Highest paying City | Portland, ME | San Francisco, CA |
| Highest paying state | Maine | New York |
| Best paying company | Meta | W. R. Berkley |
| Best paying industry | Manufacturing | Insurance |
There are a few differences between an audit manager and an underwriting manager in terms of educational background:
| Audit Manager | Underwriting Manager | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 73% |
| Most common major | Accounting | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between audit managers' and underwriting managers' demographics:
| Audit Manager | Underwriting Manager | |
| Average age | 46 | 46 |
| Gender ratio | Male, 66.0% Female, 34.0% | Male, 49.5% Female, 50.5% |
| Race ratio | Black or African American, 7.6% Unknown, 4.1% Hispanic or Latino, 14.5% Asian, 10.2% White, 63.2% American Indian and Alaska Native, 0.3% | Black or African American, 7.9% Unknown, 4.1% Hispanic or Latino, 15.3% Asian, 7.8% White, 64.6% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 11% | 11% |