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Underwriter Careers

There is more than meets the eye when it comes to being an underwriter. For example, did you know that they make an average of $32.8 an hour? That's $68,217 a year!

Between 2018 and 2028, the career is expected to grow -5% and produce -5,400 job opportunities across the U.S.

What Does an Underwriter Do

There are certain skills that many underwriters have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed initiative, detail oriented and interpersonal skills.

When it comes to the most important skills required to be an underwriter, we found that a lot of resumes listed 12.5% of underwriters included loan portfolio, while 10.7% of resumes included underwriting guidelines, and 9.8% of resumes included customer service. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.

When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the underwriter job title. But what industry to start with? Most underwriters actually find jobs in the finance and insurance industries.

How To Become an Underwriter

If you're interested in becoming an underwriter, one of the first things to consider is how much education you need. We've determined that 50.2% of underwriters have a bachelor's degree. In terms of higher education levels, we found that 13.0% of underwriters have master's degrees. Even though most underwriters have a college degree, it's possible to become one with only a high school degree or GED.

Choosing the right major is always an important step when researching how to become an underwriter. When we researched the most common majors for an underwriter, we found that they most commonly earn bachelor's degree degrees or high school diploma degrees. Other degrees that we often see on underwriter resumes include associate degree degrees or master's degree degrees.

You may find that experience in other jobs will help you become an underwriter. In fact, many underwriter jobs require experience in a role such as senior underwriter. Meanwhile, many underwriters also have previous career experience in roles such as customer service representative or loan processor.

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Average Salary
$68,217
Average Salary
Job Growth Rate
-5%
Job Growth Rate
Job Openings
10,373
Job Openings

Underwriter Career Paths

Top Careers Before Underwriter

Top Careers After Underwriter

What is the right job for my career path?

Tell us your goals and we'll match you with the rights job to get there.

Average Salary for an Underwriter

Underwriters in America make an average salary of $68,217 per year or $33 per hour. The top 10 percent makes over $100,000 per year, while the bottom 10 percent under $46,000 per year.
Average Salary
$68,217

Best Paying Cities

City
ascdesc
Average Salarydesc
San Francisco, CA
Salary Range63k - 107k$82k$82,315
Boston, MA
Salary Range63k - 106k$82k$82,177
Hicksville, NY
Salary Range61k - 105k$81k$80,516
Philadelphia, PA
Salary Range57k - 98k$75k$75,414
Detroit, MI
Salary Range56k - 99k$75k$74,941
Silver Spring, MD
Salary Range56k - 97k$74k$74,255
$44k
$107k

Recently Added Salaries

Job TitleCompanyascdescCompanyascdescStart DateascdescSalaryascdesc
SME Underwriter #053818
SME Underwriter #053818
"Bank of The West"
"Bank of The West"
03/31/2021
03/31/2021
$70,00003/31/2021
$70,000
Underwriter-Remote
Underwriter-Remote
Richmond American Homes
Richmond American Homes
03/28/2021
03/28/2021
$85,00003/28/2021
$85,000
Underwriter
Underwriter
Randstad
Randstad
03/27/2021
03/27/2021
$37,56603/27/2021
$37,566
Credit Underwriter
Credit Underwriter
Randstad
Randstad
03/26/2021
03/26/2021
$41,74003/26/2021
$41,740
Credit Underwriter
Credit Underwriter
Love's Travel Stops & Country Stores
Love's Travel Stops & Country Stores
03/26/2021
03/26/2021
$100,00003/26/2021
$100,000
See More Recent Salaries

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Underwriter Resumes

Designing and figuring out what to include on your resume can be tough, not to mention time-consuming. That's why we put together a guide that is designed to help you craft the perfect resume for becoming an Underwriter. If you're needing extra inspiration, take a look through our selection of templates that are specific to your job.

Learn How To Write an Underwriter Resume

At Zippia, we went through countless Underwriter resumes and compiled some information about how best to optimize them. Here are some suggestions based on what we found, divided by the individual sections of the resume itself.

View Detailed Information

Underwriter Demographics

Gender

female

59.2 %

male

36.9 %

unknown

4.0 %

Ethnicity

White

71.9 %

Hispanic or Latino

10.4 %

Black or African American

8.4 %

Foreign Languages Spoken

Spanish

63.8 %

French

5.5 %

Chinese

3.8 %
See More Demographics

Underwriter Education

Majors

Business
36.2 %
Finance
11.5 %

Degrees

Bachelors

56.2 %

Certificate

15.2 %

Associate

13.2 %

Top Colleges for Underwriters

1. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition
$55,584
Enrollment
10,764

2. Boston University

Boston, MA • Private

In-State Tuition
$53,948
Enrollment
17,238

3. University of Minnesota - Twin Cities

Minneapolis, MN • Public

In-State Tuition
$14,760
Enrollment
31,451

4. Northwestern University

Evanston, IL • Private

In-State Tuition
$54,568
Enrollment
8,451

5. University of Southern California

Los Angeles, CA • Private

In-State Tuition
$56,225
Enrollment
19,548

6. SUNY at Binghamton

Vestal, NY • Public

In-State Tuition
$9,808
Enrollment
13,990

7. Ball State University

Muncie, IN • Public

In-State Tuition
$9,896
Enrollment
15,529

8. Florida State University

Tallahassee, FL • Public

In-State Tuition
$5,656
Enrollment
32,072

9. Butler University

Indianapolis, IN • Private

In-State Tuition
$41,120
Enrollment
4,553

10. University of Wisconsin - Madison

Madison, WI • Public

In-State Tuition
$10,555
Enrollment
30,360
See More Education Info
Job type you want
Full Time
Part Time
Internship
Temporary

Top Skills For an Underwriter

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 12.5% of underwriters listed loan portfolio on their resume, but soft skills such as initiative and detail oriented are important as well.

  • Loan Portfolio, 12.5%
  • Underwriting Guidelines, 10.7%
  • Customer Service, 9.8%
  • Credit Reports, 8.7%
  • Financial Statements, 7.6%
  • Other Skills, 50.7%
  • See All Underwriter Skills

Best States For an Underwriter

Some places are better than others when it comes to starting a career as an underwriter. The best states for people in this position are Massachusetts, New York, California, and Oklahoma. Underwriters make the most in Massachusetts with an average salary of $82,198. Whereas in New York and California, they would average $79,996 and $79,753, respectively. While underwriters would only make an average of $78,774 in Oklahoma, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. Kansas

Total Underwriter Jobs:
137
Highest 10% Earn:
$131,000
Location Quotient:
1.25
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

2. Michigan

Total Underwriter Jobs:
386
Highest 10% Earn:
$125,000
Location Quotient:
1.38
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here

3. New York

Total Underwriter Jobs:
546
Highest 10% Earn:
$131,000
Location Quotient:
1.18
Location Quotient is a measure used by the Bureau of Labor Statistics (BLS) to determine how concentrated a certain industry is in a single state compared to the nation as a whole. You can read more about how BLS calculates location quotients here
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Top Underwriter Employers

We've made finding a great employer to work for easy by doing the hard work for you. We looked into employers that employ underwriters and discovered their number of underwriter opportunities and average salary. Through our research, we concluded that Wells Fargo was the best, especially with an average salary of $58,931. Bank of America follows up with an average salary of $58,434, and then comes JPMorgan Chase with an average of $64,550. In addition, we know most people would rather work from home. So instead of having to change careers, we identified the best employers for remote work as an underwriter. The employers include Freedom Mortgage, Realogy, and Fairway Independent Mortgage

1. Wells Fargo
4.7
Avg. Salary: 
$58,931
Underwriters Hired: 
668+
2. Bank of America
4.8
Avg. Salary: 
$58,434
Underwriters Hired: 
365+
3. JPMorgan Chase
4.9
Avg. Salary: 
$64,550
Underwriters Hired: 
229+
4. State Farm
4.6
Avg. Salary: 
$75,196
Underwriters Hired: 
153+
5. Randstad USA
4.1
Avg. Salary: 
$69,192
Underwriters Hired: 
110+
6. American International Group
4.8
Avg. Salary: 
$76,926
Underwriters Hired: 
109+

Underwriter Videos

Updated October 2, 2020