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The differences between underwriters and loan administrators 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 $42,859 average annual salary of a loan administrator.
The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for a loan administrator are customer service, data entry, and loan administration.
| Underwriter | Loan Administrator | |
| Yearly salary | $61,751 | $42,859 |
| Hourly rate | $29.69 | $20.61 |
| Growth rate | -4% | 4% |
| Number of jobs | 8,510 | 63,708 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| Average age | 44 | 45 |
| Years of experience | - | 6 |
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 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.
Underwriters and loan administrators have different pay scales, as shown below.
| Underwriter | Loan Administrator | |
| Average salary | $61,751 | $42,859 |
| Salary range | Between $39,000 And $96,000 | Between $31,000 And $59,000 |
| Highest paying City | Boston, MA | Seattle, WA |
| Highest paying state | Massachusetts | Hawaii |
| Best paying company | BNY Mellon | |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an underwriter and a loan administrator in terms of educational background:
| Underwriter | Loan Administrator | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 58% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriters' and loan administrators' demographics:
| Underwriter | Loan Administrator | |
| Average age | 44 | 45 |
| Gender ratio | Male, 38.4% Female, 61.6% | Male, 23.2% Female, 76.8% |
| 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, 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% |