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The differences between junior underwriters 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 $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 an underwriter are customer service, investor guidelines, and mortgage loans.
| Junior Underwriter | Underwriter | |
| Yearly salary | $51,782 | $61,751 |
| Hourly rate | $24.90 | $29.69 |
| Growth rate | 4% | -4% |
| Number of jobs | 19,456 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 66% |
| 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.
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.
Junior underwriters and underwriters have different pay scales, as shown below.
| Junior Underwriter | Underwriter | |
| Average salary | $51,782 | $61,751 |
| Salary range | Between $34,000 And $77,000 | Between $39,000 And $96,000 |
| Highest paying City | Hicksville, NY | Boston, MA |
| Highest paying state | New York | Massachusetts |
| Best paying company | Chubb | |
| Best paying industry | Insurance | Manufacturing |
There are a few differences between a junior underwriter and an underwriter in terms of educational background:
| Junior Underwriter | Underwriter | |
| Most common degree | Bachelor's Degree, 56% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between junior underwriters' and underwriters' demographics:
| Junior Underwriter | Underwriter | |
| Average age | 45 | 44 |
| Gender ratio | Male, 28.7% Female, 71.3% | Male, 38.4% Female, 61.6% |
| 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, 9.2% 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% |