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The differences between processors 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 $32,098 average annual salary of a processor.
The top three skills for a processor include data entry, customer service and patients. The most important skills for an underwriter are customer service, investor guidelines, and mortgage loans.
| Processor | Underwriter | |
| Yearly salary | $32,098 | $61,751 |
| Hourly rate | $15.43 | $29.69 |
| Growth rate | -3% | -4% |
| Number of jobs | 11,448 | 8,510 |
| Job satisfaction | - | 3 |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 66% |
| Average age | 50 | 44 |
| Years of experience | 12 | - |
Processors are employees who deal with clients and ensure that the clients' requests are provided. Processors usually handle loans or any other related claims. They are in charge of managing the submission of the clients' rights. They communicate the requirements to clients, schedule appointments, receive requirements submitted by clients, validate the requirements, and endorse further processing and approval requirements. Processors act as the bridge between clients and other institutions. They also communicate the request's status to clients and assist should it be needed after approval.
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.
Processors and underwriters have different pay scales, as shown below.
| Processor | Underwriter | |
| Average salary | $32,098 | $61,751 |
| Salary range | Between $24,000 And $41,000 | Between $39,000 And $96,000 |
| Highest paying City | Randolph, MA | Boston, MA |
| Highest paying state | California | Massachusetts |
| Best paying company | Argonne National Laboratory | |
| Best paying industry | Finance | Manufacturing |
There are a few differences between a processor and an underwriter in terms of educational background:
| Processor | Underwriter | |
| Most common degree | Bachelor's Degree, 35% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | - | University of Pennsylvania |
Here are the differences between processors' and underwriters' demographics:
| Processor | Underwriter | |
| Average age | 50 | 44 |
| Gender ratio | Male, 34.0% Female, 66.0% | Male, 38.4% Female, 61.6% |
| Race ratio | Black or African American, 6.7% Unknown, 4.5% Hispanic or Latino, 10.7% Asian, 4.7% White, 72.3% American Indian and Alaska Native, 1.1% | 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 | 7% | 9% |