Credit counselor vs underwriter

The differences between credit counselors 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 $40,227 average annual salary of a credit counselor.

The top three skills for a credit counselor include customer service, debt management and outbound calls. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.

Credit counselor vs underwriter overview

	Credit Counselor	Underwriter
Yearly salary	$40,227	$61,751
Hourly rate	$19.34	$29.69
Growth rate	-8%	-4%
Number of jobs	32,221	8,510
Job satisfaction	-	3
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 66%
Average age	45	44
Years of experience	2	-

Credit counselor vs underwriter salary

Credit counselors and underwriters have different pay scales, as shown below.

	Credit Counselor	Underwriter
Average salary	$40,227	$61,751
Salary range	Between $27,000 And $59,000	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	Google
Best paying industry	Finance	Manufacturing

Differences between credit counselor and underwriter education

There are a few differences between a credit counselor and an underwriter in terms of educational background:

	Credit Counselor	Underwriter
Most common degree	Bachelor's Degree, 47%	Bachelor's Degree, 66%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Credit counselor vs underwriter demographics

Here are the differences between credit counselors' and underwriters' demographics:

	Credit Counselor	Underwriter
Average age	45	44
Gender ratio	Male, 41.2% Female, 58.8%	Male, 38.4% Female, 61.6%
Race ratio	Black or African American, 9.2% Unknown, 4.6% Hispanic or Latino, 16.1% Asian, 6.4% White, 63.2% American Indian and Alaska Native, 0.5%	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	8%	9%

Differences between credit counselor and underwriter duties and responsibilities

Credit counselor example responsibilities.

Manage accounting operations, accounting close, account reporting and reconciliations.
Conduct underwriting reviews on FHA, VA, and other conforming and non-conforming loans within proper authority limits.
Gain thorough knowledge of FDCPA laws.
Complete in-service trainings, CPR training and medication certification course.
Determine services and assistance need through individual counseling for credit cards and for clients that are at risk for foreclosure.
Perform comprehensive financial assessment of homeowners facing financial crisis and at risk of foreclosure.

Underwriter example responsibilities.

Attain Jr. underwriter status and AUS underwriting authority.
Manage AUS findings and analyze approvals and results accordingly.
Complete initial review of appraisals, borrower credit documents, and DU/LP findings according to Fannie Mae and investor guidelines.
Research and develop SBA program.
Work on project putting together HPR policy.
Resolve issues preventing final disposition of REO properties.

Credit counselor vs underwriter skills

Common credit counselor skills

Customer Service, 19%
Debt Management, 14%
Outbound Calls, 10%
Inbound Calls, 8%
Payment Arrangements, 4%
Credit Reviews, 4%

Common underwriter skills

Customer Service, 11%
Investor Guidelines, 6%
Mortgage Loans, 5%
Underwriting Guidelines, 5%
Financial Statements, 4%
FHA, 3%