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The differences between property underwriters and underwriting specialists 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 $63,325 average annual salary of an underwriting specialist.
The top three skills for a property underwriter include CPCU, underwriting guidelines and insurance coverage. The most important skills for an underwriting specialist are customer service, underwriting guidelines, and financial statements.
| Property Underwriter | Underwriting Specialist | |
| Yearly salary | $71,730 | $63,325 |
| Hourly rate | $34.49 | $30.44 |
| Growth rate | -4% | -4% |
| Number of jobs | 11,643 | 25,164 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 73% |
| 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.
An underwriting specialist is responsible for reviewing clients' applications in availing financial services and determining their eligibility by analyzing credit scores and risk potential. Underwriting specialists record all necessary information and may ask for additional requirements for further investigation. They assess policy applications and implement terms and conditions upon approval and ensure that the clients understood the process to prevent miscommunication and payment delays. An underwriting specialist must have extensive knowledge of the loan and insurance disciplines to identify coverage and limitations for efficient contract negotiations.
Property underwriters and underwriting specialists have different pay scales, as shown below.
| Property Underwriter | Underwriting Specialist | |
| Average salary | $71,730 | $63,325 |
| Salary range | Between $45,000 And $111,000 | Between $39,000 And $101,000 |
| Highest paying City | Boston, MA | Boston, MA |
| Highest paying state | Massachusetts | Massachusetts |
| Best paying company | Chubb | AIG |
| Best paying industry | Finance | Finance |
There are a few differences between a property underwriter and an underwriting specialist in terms of educational background:
| Property Underwriter | Underwriting Specialist | |
| Most common degree | Bachelor's Degree, 75% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between property underwriters' and underwriting specialists' demographics:
| Property Underwriter | Underwriting Specialist | |
| Average age | 44 | 44 |
| Gender ratio | Male, 47.1% Female, 52.9% | Male, 39.0% Female, 61.0% |
| 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, 8.9% Unknown, 2.5% Hispanic or Latino, 10.0% Asian, 5.8% White, 72.4% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 9% |