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The differences between junior underwriters and senior underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, which is higher than the $51,782 average annual salary of a junior underwriter.
The top three skills for a junior underwriter include loan programs, income documentation and credit reports. The most important skills for a senior underwriter are customer service, portfolio, and underwriting guidelines.
| Junior Underwriter | Senior Underwriter | |
| Yearly salary | $51,782 | $69,375 |
| Hourly rate | $24.90 | $33.35 |
| Growth rate | 4% | -4% |
| Number of jobs | 19,456 | 6,726 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 71% |
| Average age | 45 | 44 |
| Years of experience | 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 senior underwriter is responsible for evaluating the eligibility of an applicant for loan application processing. Senior underwriters verify the applicant's information, including their credit score and other valid documents, ensuring that the applicant fulfills the loan application's parameters. They check the applicant's portfolios and provide them the next necessary steps and the alternatives for loan types. A senior underwriter must have excellent knowledge of the loan processes and underwriting procedures to analyze applications and make accurate decisions.
Junior underwriters and senior underwriters have different pay scales, as shown below.
| Junior Underwriter | Senior Underwriter | |
| Average salary | $51,782 | $69,375 |
| Salary range | Between $34,000 And $77,000 | Between $44,000 And $108,000 |
| Highest paying City | Hicksville, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Chubb | Capital Group |
| Best paying industry | Insurance | Insurance |
There are a few differences between a junior underwriter and a senior underwriter in terms of educational background:
| Junior Underwriter | Senior Underwriter | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior underwriters' and senior underwriters' demographics:
| Junior Underwriter | Senior Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 42.0% Female, 58.0% |
| 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, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 8% | 9% |