Explore jobs
Find specific jobs
Explore careers
Explore professions
Best companies
Explore companies
The differences between senior underwriters and loan administrators 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 $42,859 average annual salary of a loan administrator.
The top three skills for a senior underwriter include customer service, portfolio and underwriting guidelines. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Senior Underwriter | Loan Administrator | |
| Yearly salary | $69,375 | $42,859 |
| Hourly rate | $33.35 | $20.61 |
| Growth rate | -4% | 4% |
| Number of jobs | 6,726 | 63,708 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 58% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
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 Loan Administrator is a person that takes care of all the documentation part of the loan process. Loans require a lot of documents and requirements, and a loan administrator is a person that helps the client accomplish all these requirements. It is also their job to help clients resolve issues and problems during the loan process. A Loan Administrator is a crucial and hectic job. The one qualified for this position must be good at handling pressure, be good at resolving issues, handle complaints, and communicate with people.
Senior underwriters and loan administrators have different pay scales, as shown below.
| Senior Underwriter | Loan Administrator | |
| Average salary | $69,375 | $42,859 |
| Salary range | Between $44,000 And $108,000 | Between $31,000 And $59,000 |
| Highest paying City | New York, NY | Seattle, WA |
| Highest paying state | New York | Hawaii |
| Best paying company | Capital Group | BNY Mellon |
| Best paying industry | Insurance | Finance |
There are a few differences between a senior underwriter and a loan administrator in terms of educational background:
| Senior Underwriter | Loan Administrator | |
| Most common degree | Bachelor's Degree, 71% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between senior underwriters' and loan administrators' demographics:
| Senior Underwriter | Loan Administrator | |
| Average age | 44 | 45 |
| Gender ratio | Male, 42.0% Female, 58.0% | Male, 23.2% Female, 76.8% |
| 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, 9.3% Unknown, 4.6% Hispanic or Latino, 16.2% Asian, 6.4% White, 63.0% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 9% | 8% |