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The differences between junior underwriters and loan administrators can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a junior underwriter and a loan administrator. Additionally, a junior underwriter has an average salary of $51,782, which is higher than the $42,859 average annual salary of a loan administrator.
The top three skills for a junior underwriter include loan programs, income documentation and credit reports. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Junior Underwriter | Loan Administrator | |
| Yearly salary | $51,782 | $42,859 |
| Hourly rate | $24.90 | $20.61 |
| Growth rate | 4% | 4% |
| Number of jobs | 19,456 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 58% |
| Average age | 45 | 45 |
| Years of experience | 6 | 6 |
Working alongside senior underwriters, a junior underwriter is in charge of performing research and analysis to determine the eligibility of clients for insurance products and services. Their responsibilities include gathering and analyzing requirements, inspecting financial histories, participating in handling underwriting conditions, and monitoring current and past loans of a client. Should there be any complicated issues and concerns, they must report to the senior underwriter right away. Furthermore, a junior underwriter must carry out tasks while adhering to the company's policies and regulations.
A Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Junior underwriters and loan administrators have different pay scales, as shown below.
| Junior Underwriter | Loan Administrator | |
| Average salary | $51,782 | $42,859 |
| Salary range | Between $34,000 And $77,000 | Between $31,000 And $59,000 |
| Highest paying City | Hicksville, NY | Seattle, WA |
| Highest paying state | New York | Hawaii |
| Best paying company | Chubb | BNY Mellon |
| Best paying industry | Insurance | Finance |
There are a few differences between a junior underwriter and a loan administrator in terms of educational background:
| Junior Underwriter | Loan Administrator | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior underwriters' and loan administrators' demographics:
| Junior Underwriter | Loan Administrator | |
| Average age | 45 | 45 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 23.2% Female, 76.8% |
| Race ratio | Black or African American, 9.0% Unknown, 4.6% Hispanic or Latino, 15.7% Asian, 6.3% White, 63.9% American Indian and Alaska Native, 0.5% | Black or African American, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 8% | 8% |