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The differences between senior underwriters and commercial underwriters can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior underwriter has an average salary of $69,375, which is higher than the $59,051 average annual salary of a commercial underwriter.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a commercial underwriter are real estate, customer service, and financial analysis.
| Senior Underwriter | Commercial Underwriter | |
| Yearly salary | $69,375 | $59,051 |
| Hourly rate | $33.35 | $28.39 |
| Growth rate | -4% | -4% |
| Number of jobs | 6,726 | 31,908 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | - | - |
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.
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.
Senior underwriters and commercial underwriters have different pay scales, as shown below.
| Senior Underwriter | Commercial Underwriter | |
| Average salary | $69,375 | $59,051 |
| Salary range | Between $44,000 And $108,000 | Between $41,000 And $84,000 |
| Highest paying City | New York, NY | Olympia, WA |
| Highest paying state | New York | Washington |
| Best paying company | Capital Group | J.P. Morgan |
| Best paying industry | Insurance | Finance |
There are a few differences between a senior underwriter and a commercial underwriter in terms of educational background:
| Senior Underwriter | Commercial Underwriter | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 75% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and commercial underwriters' demographics:
| Senior Underwriter | Commercial Underwriter | |
| Average age | 44 | 44 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 48.7% Female, 51.3% |
| Race ratio | 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% | 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% |