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The differences between underwriters and credit analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriter has an average salary of $61,751, which is higher than the $61,422 average annual salary of a credit analyst.
The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for a credit analyst are customer service, credit analysis, and customer accounts.
| Underwriter | Credit Analyst | |
| Yearly salary | $61,751 | $61,422 |
| Hourly rate | $29.69 | $29.53 |
| Growth rate | -4% | -5% |
| Number of jobs | 8,510 | 16,406 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 65% |
| Average age | 44 | 39 |
| Years of experience | - | 2 |
An underwriter's duties depend on the line of work or industry involved, such as mortgage companies, insurance, or lending firms. However, an Underwriter's responsibility will mainly revolve around using their extensive expertise on how a company will achieve financial gains, and assessing the possible financial risks of a client by reviewing various aspects to determine their capacity to uphold monetary obligations. Most of the time, the Underwriter's tasks will also involve evaluating a client's credit history, health, assets, overall financial history.
A credit analyst's role is to assess and determine a client's capacity to uphold financial obligations when applying for loans or credit programs. Working for creditors like banks and lending firms, a credit analyst must interpret and analyze financial data and personal records, identify inconsistencies and risks, and verify necessary documentation in support of loan committees. Furthermore, a credit analyst must also perform administrative tasks such as preparing reports and applications, fulfilling document requests, reaching out to clients, and coordinating with colleagues to assure accuracy in all operations.
Underwriters and credit analysts have different pay scales, as shown below.
| Underwriter | Credit Analyst | |
| Average salary | $61,751 | $61,422 |
| Salary range | Between $39,000 And $96,000 | Between $40,000 And $93,000 |
| Highest paying City | Boston, MA | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Apollo Global Management | |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an underwriter and a credit analyst in terms of educational background:
| Underwriter | Credit Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 65% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriters' and credit analysts' demographics:
| Underwriter | Credit Analyst | |
| Average age | 44 | 39 |
| Gender ratio | Male, 38.4% Female, 61.6% | Male, 44.2% Female, 55.8% |
| Race ratio | Black or African American, 9.2% Unknown, 2.5% Hispanic or Latino, 9.6% Asian, 5.6% White, 72.7% American Indian and Alaska Native, 0.4% | Black or African American, 7.7% Unknown, 2.6% Hispanic or Latino, 9.5% Asian, 10.5% White, 69.4% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 9% | 11% |