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The differences between credit administrators and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriter has an average salary of $61,751, which is higher than the $59,271 average annual salary of a credit administrator.
The top three skills for a credit administrator include financial statements, credit card payments and real estate. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Credit Administrator | Underwriter | |
| Yearly salary | $59,271 | $61,751 |
| Hourly rate | $28.50 | $29.69 |
| Growth rate | -8% | -4% |
| Number of jobs | 55,726 | 8,510 |
| Job satisfaction | 2 | 3 |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 66% |
| Average age | 39 | 44 |
| Years of experience | 2 | - |
A credit administrator oversees the credit operations in a company, ensuring efficiency and client satisfaction. They typically conduct research and analysis, handle credit portfolios, perform credit risk assessments, monitor credit accounts, validate requirements, evaluate applications, and develop strategies to optimize operations. A credit administrator may also perform a variety of clerical tasks such as preparing and processing documents, answering calls and correspondence, organizing information, and maintaining records. Moreover, they must lead and encourage staff to reach goals, all while enforcing and promoting the company's policies and regulations.
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
Credit administrators and underwriters have different pay scales, as shown below.
| Credit Administrator | Underwriter | |
| Average salary | $59,271 | $61,751 |
| Salary range | Between $33,000 And $106,000 | Between $39,000 And $96,000 |
| Highest paying City | New York, NY | Boston, MA |
| Highest paying state | New York | Massachusetts |
| Best paying company | BNY Mellon | |
| Best paying industry | - | Manufacturing |
There are a few differences between a credit administrator and an underwriter in terms of educational background:
| Credit Administrator | Underwriter | |
| Most common degree | Bachelor's Degree, 63% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between credit administrators' and underwriters' demographics:
| Credit Administrator | Underwriter | |
| Average age | 39 | 44 |
| Gender ratio | Male, 28.4% Female, 71.6% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 8.1% Unknown, 2.7% Hispanic or Latino, 10.0% Asian, 9.4% White, 69.5% American Indian and Alaska Native, 0.3% | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 11% | 9% |