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The differences between property underwriters and senior 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 $69,375 average annual salary of a senior underwriter.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for a senior underwriter are customer service, portfolio, and underwriting guidelines.
| Property Underwriter | Senior Underwriter | |
| Yearly salary | $71,730 | $69,375 |
| Hourly rate | $34.49 | $33.35 |
| Growth rate | -4% | -4% |
| Number of jobs | 11,643 | 6,726 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 71% |
| 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 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.
Property underwriters and senior underwriters have different pay scales, as shown below.
| Property Underwriter | Senior Underwriter | |
| Average salary | $71,730 | $69,375 |
| Salary range | Between $45,000 And $111,000 | Between $44,000 And $108,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Chubb | Capital Group |
| Best paying industry | Finance | Insurance |
There are a few differences between a property underwriter and a senior underwriter in terms of educational background:
| Property Underwriter | Senior Underwriter | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and senior underwriters' demographics:
| Property Underwriter | Senior Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 42.0% Female, 58.0% |
| 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, 9.3% Unknown, 2.5% Hispanic or Latino, 9.4% Asian, 5.6% White, 72.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |