How to hire a commercial underwriter

How to hire a commercial underwriter, step by step

Here's a step-by-step commercial underwriter hiring guide:

• Step 1: Identify your hiring needs
• Step 2: Create an ideal candidate profile
• Step 3: Make a budget
• Step 4: Write a commercial underwriter job description
• Step 5: Post your job
• Step 6: Interview candidates
• Step 7: Send a job offer and onboard your new commercial underwriter
• Step 8: Go through the hiring process checklist

What does a commercial underwriter do?

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1. Identify your hiring needs

   First, determine the employments status of the commercial underwriter you need to hire. Certain commercial underwriter roles might require a full-time employee, whereas others can be done by part-time workers or contractors.

   Determine employee vs contractor status

   Is the person you're thinking of hiring a US citizen or green card holder?

   Yes

   No

   Hiring the perfect commercial underwriter also involves considering the ideal background you'd like them to have. Depending on what industry or field they have experience in, they'll bring different skills to the job. It's also important to consider what levels of seniority and education the job requires and what kind of salary such a candidate would likely demand.

   This list shows salaries for various types of commercial underwriters.

   Type of Commercial Underwriter	Description	Hourly rate
   Commercial Underwriter	Insurance underwriters decide whether to provide insurance and under what terms. They evaluate insurance applications and determine coverage amounts and premiums.	$19-40
   Bank Officer	A bank officer is in charge of overseeing the daily operations at banking establishments, ensuring efficiency and client satisfaction. Their responsibilities include gathering and analyzing requests, approving and denying loan applications, providing consultations, processing client requests, and producing progress reports... Show more	$27-52
   Mortgage Banker	A Mortgage Banker is specialized in offering financing to buy homes or refinance previous mortgages. They work as part of a banks loan department.	$4-37

   Show more

2. Create an ideal candidate profile

   Common skills:

   • Real Estate
   • Customer Service
   • Financial Analysis
   • Credit Analysis
   • Cash Flow
   • Risk Management
   • Strong Analytical
   • Cash Flow Analysis
   • Tax Returns
   • Commercial Loans
   • Credit Risk
   • Financial Data
   • Credit Worthiness
   • Underwriting Guidelines

   Check all skills

   Responsibilities:

   • Handle new and renewal multi-line policies.
   • Quoted new business and handle multi-line commercial accounts for this retailer.
   • Front office administration; maintain A/R and A/P for 1000+ commercial lines clients and 2000+ personal lines clients.
   • Market banking services to individuals, as well as to small businesses and corporations through networking and cross-selling.
   • Update loan origination systems to ensure that pipeline reports reflect the most current status for active loan in process.
   • Work along with the owner and accounting staff on all financial matters, A/R, A/P, payroll, and taxes.

   More commercial underwriter duties

3. Make a budget

   Including a salary range in your commercial underwriter job description is a great way to entice the best and brightest candidates. A commercial underwriter salary can vary based on several factors:

   • Location. For example, commercial underwriters' average salary in mississippi is 36% less than in washington.
   • Seniority. Entry-level commercial underwriters earn 51% less than senior-level commercial underwriters.
   • Certifications. A commercial underwriter with a few certifications under their belt will likely demand a higher salary.
   • Company. Working for a prestigious company or an exciting start-up can make a huge difference in a commercial underwriter's salary.

   Average commercial underwriter salary

   $59,051yearly

   $28.39 hourly rate

   ---

   Entry-level commercial underwriter salary

   $41,000 yearly salary

   Updated January 23, 2026

   Average commercial underwriter salary by state

   Rank	State	Avg. salary	Hourly rate
   1	Washington	$71,928	$35
   2	Massachusetts	$70,432	$34
   3	California	$68,225	$33
   4	District of Columbia	$67,606	$33
   5	New York	$67,252	$32
   6	Pennsylvania	$63,620	$31
   7	Connecticut	$63,235	$30
   8	Delaware	$62,612	$30
   9	Florida	$62,271	$30
   10	Colorado	$61,199	$29
   11	North Carolina	$60,883	$29
   12	Georgia	$59,787	$29
   13	Maryland	$58,191	$28
   14	Texas	$58,056	$28
   15	Illinois	$57,922	$28
   16	Indiana	$57,662	$28
   17	Kansas	$56,429	$27
   18	Arizona	$55,704	$27
   19	Michigan	$55,449	$27
   20	Oregon	$55,040	$26

   Average commercial underwriter salary by company

   Company

   Rank	Company	Average salary	Hourly rate	Job openings
   1	J.P. Morgan	$95,840	$46.08
   2	Stripe	$94,946	$45.65	5
   3	Santander Private Banking International	$92,551	$44.50	3
   4	Fidelity National Financial	$90,615	$43.56	3
   5	Leumi	$89,170	$42.87
   6	Santander Bank	$78,053	$37.53	3
   7	Philadelphia Insurance Companies	$76,742	$36.90	10
   8	BERKLEY TECHNOLOGY SERVICES	$75,471	$36.28	69
   9	Merchants Insurance Group	$75,007	$36.06
   10	First Foundation	$72,874	$35.04
   11	W. R. Berkley	$72,245	$34.73	52
   12	EMC Insurance	$71,984	$34.61	22
   13	Cushman & Wakefield	$71,875	$34.56
   14	JPMorgan Chase & Co.	$68,757	$33.06	156
   15	The Travelers Companies	$68,420	$32.89	46
   16	Chubb	$68,139	$32.76	253
   17	Merchants Bonding	$67,743	$32.57	3
   18	Zurich	$67,540	$32.47	108
   19	The Hanover Insurance Group	$66,697	$32.07	59
   20	Great American Insurance	$66,658	$32.05	42

4. Writing a commercial underwriter job description

   A job description for a commercial underwriter role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a commercial underwriter job description:

   Commercial underwriter job description example

   PMC Commercial Trust is a well-established, publicly traded company. We are currently seeking a Commercial Loan Underwriter within our Commercial Lending Division. As a nationwide direct lender, we originate loans both conventionally and through utilization of the Small Business Administration 7(a) government lending program. Based on our experience and track record, we have earned the distinction of being an SBA Preferred Lender, the highest achievable. This designation gives us the authority to quickly approve and close loans while providing personalized service to borrowers. The Commercial Loan Underwriter is responsible for developing loan applications through the underwriting and closing process while complying with all company and SBA policies and procedures.
   
   ESSENTIAL FUNCTIONS:Packaging, closing, and servicing of commercial loans complying with all company and SBA policies and procedures.Underwriting duties include analyzing personal and business financial statements, tax returns, credit reports, cash flows, collateral, project costs/budgets, and borrower's management ability to present a complete application to Loan Committee.Preparation of SBA credit memorandum and other required documents for submission to SBA.Coordinating the closing of loans with Closing Attorney, Title Company, and Borrower.Review loan closing documents to ensure proper documentation of loans.Act as intermediary between Borrowers, Loan Committee, and Closing Attorney while ensuring a high level of customer satisfaction.
   
   EDUCATION/EXPERIENCE REQUIREMENTS:Bachelor's Degree and SBA experience strongly desired. Ability to analyze financial statements, tax returns and determine credit worthiness Ability to coordinate loan closing process.
   
   KNOWLEDGE, SKILLS AND ABILITIES:Excellent communication (written and verbal), analytical, and interpersonal skills.Deadline driven and able to manage multiple tasks to completion.Ability to work efficiently and independently and proactively seek or devise solutions to address needs within the area of responsibility.Ability to apply common-sense understanding to carry out overall guidelines or instructions.Ability to solve practical problems and collaborate with resources to obtain an efficient result.
   
   For more information please visit: www.pmctrust.com. If you possess these qualifications and would like to work for a well-established, publicly traded company in a casual work environment and have a true desire to learn, apply now!! PMC is always looking for great people to assist us!!
   #LI-EB1
   
   CIM does not accept unsolicited resumes from Agencies. Any unsolicited resumes received from Agencies will be considered property of CIM and no fees will be due or paid. If you wish to become an approved Agency with CIM or any of its Affiliates, please contact a member of the CIM Talent Acquisition Team.

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5. Post your job

   There are various strategies that you can use to find the right commercial underwriter for your business:

   • Consider promoting from within or recruiting from your existing workforce.
   • Ask for referrals from friends, family members, and current employees.
   • Attend job fairs at local colleges to find candidates who meet your education requirements.
   • Use social media platforms like LinkedIn, Facebook, and Twitter to reach potential job candidates.

   Post your job online:

   • Post your commercial underwriter job on Zippia to find and recruit commercial underwriter candidates who meet your exact specifications.
   • Use field-specific websites such as efinancialcareers, financialjobsweb.com, careerbank, financial job bank.
   • Post a job on free websites.

6. Interview candidates

   Recruiting commercial underwriters requires you to bring your A-game to the interview process. The first interview should introduce the company and the role to the candidate as much as they present their background experience and reasons for applying for the job. During later interviews, you can go into more detail about the technical details of the job and ask behavioral questions to gauge how they'd fit into your current company culture.

   It's also good to ask about candidates' unique skills and talents. You can move on to the technical interview if a candidate is good enough for the next step.

   The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

7. Send a job offer and onboard your new commercial underwriter

   Once you've decided on a perfect commercial underwriter candidate, it's time to write an offer letter. In addition to salary, it should include benefits and perks available to the employee. Qualified candidates may be considered for other positions, so make sure your offer is competitive. Candidates may wish to negotiate. Once you've settled on the details, formalize your agreement with a contract.

   You should also follow up with applicants who don't get the job with an email letting them know that you've filled the position.

   After that, you can create an onboarding schedule for a new commercial underwriter. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.

8. Go through the hiring process checklist

   • Determine employee type (full-time, part-time, contractor, etc.)
   • Submit a job requisition form to the HR department
   • Define job responsibilities and requirements
   • Establish budget and timeline
   • Determine hiring decision makers for the role
   • Write job description
   • Post job on job boards, company website, etc.
   • Promote the job internally
   • Process applications through applicant tracking system
   • Review resumes and cover letters
   • Shortlist candidates for screening
   • Hold phone/virtual interview screening with first round of candidates
   • Conduct in-person interviews with top candidates from first round
   • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
   • Conduct background checks on top candidates
   • Check references of top candidates
   • Consult with HR and hiring decision makers on job offer specifics
   • Extend offer to top candidate(s)
   • Receive formal job offer acceptance and signed employment contract
   • Inform other candidates that the position has been filled
   • Set and communicate onboarding schedule to new hire(s)
   • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)

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How much does it cost to hire a commercial underwriter?