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The differences between property underwriters and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a property underwriter has an average salary of $71,730, which is higher than the $59,051 average annual salary of a commercial underwriter.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Property Underwriter | Commercial Underwriter | |
| Yearly salary | $71,730 | $59,051 |
| Hourly rate | $34.49 | $28.39 |
| Growth rate | -4% | -4% |
| Number of jobs | 11,643 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | - | - |
Property Underwriters will require skills in underwriting guidelines, sales territories, CPCU, analysis, math, interpersonal communication, and a bachelor's degree in economics, business, accounting, finance, or mathematics for this career choice. Also, on-the-job training may be needed from senior underwriters and completion of certification programs. Paying an annual salary of $82K, those who choose this career will help determine coverage amounts and premiums on property. This may include houses, land, boats, cars, or other properties of sufficient value.
A commercial underwriter is responsible for processing commercial loan applications, evaluating payment agreements and terms of service, validating customers' information, and requesting additional documents as needed. Commercial underwriters analyze the credit qualifications of an applicant, including financial history, account statements, and outstanding loan applications, if any. They identify potential credit risks for the loan request and advice the applicants for alternative loan options according to their needs and qualifications. A commercial underwriter responds to the applicants' inquiries and concerns regarding their loan applications and provides timely decisions for their requests.
Property underwriters and commercial underwriters have different pay scales, as shown below.
| Property Underwriter | Commercial Underwriter | |
| Average salary | $71,730 | $59,051 |
| Salary range | Between $45,000 And $111,000 | Between $41,000 And $84,000 |
| Highest paying City | Boston, MA | Olympia, WA |
| Highest paying state | Massachusetts | Washington |
| Best paying company | Chubb | J.P. Morgan |
| Best paying industry | Finance | Finance |
There are a few differences between a property underwriter and a commercial underwriter in terms of educational background:
| Property Underwriter | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and commercial underwriters' demographics:
| Property Underwriter | Commercial Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 48.7% Female, 51.3% |
| Race ratio | Black or African American, 9.7% Unknown, 2.5% Hispanic or Latino, 9.9% Asian, 5.7% White, 71.9% American Indian and Alaska Native, 0.4% | Black or African American, 9.9% Unknown, 2.5% Hispanic or Latino, 9.3% Asian, 5.5% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |