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The differences between marine underwriters and underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a marine underwriter has an average salary of $77,871, which is higher than the $61,751 average annual salary of an underwriter.
The top three skills for a marine underwriter include profitable business, risk analysis and loss ratio. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Marine Underwriter | Underwriter | |
| Yearly salary | $77,871 | $61,751 |
| Hourly rate | $37.44 | $29.69 |
| Growth rate | -4% | -4% |
| Number of jobs | 16,546 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 66% |
| Average age | 44 | 44 |
| Years of experience | - | - |
A marine underwriter provides insurance cover to necessary clients. The responsibilities of this position include providing insurance for naval vessels such as boats and ships and providing valuation for a vessel or cargo. To provide this valuation, they weigh in the value of the freight, the price of the vessel, and the area where the vessel operates. The valuation will ensure a client is adequately covered in cases of unforeseen losses.
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.
Marine underwriters and underwriters have different pay scales, as shown below.
| Marine Underwriter | Underwriter | |
| Average salary | $77,871 | $61,751 |
| Salary range | Between $53,000 And $113,000 | Between $39,000 And $96,000 |
| Highest paying City | - | Boston, MA |
| Highest paying state | - | Massachusetts |
| Best paying company | - | |
| Best paying industry | - | Manufacturing |
There are a few differences between a marine underwriter and an underwriter in terms of educational background:
| Marine Underwriter | Underwriter | |
| Most common degree | Bachelor's Degree, 77% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between marine underwriters' and underwriters' demographics:
| Marine Underwriter | Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 59.5% Female, 40.5% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 8.1% Unknown, 2.5% Hispanic or Latino, 10.5% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% | 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 | 9% | 9% |