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The differences between underwriters and senior credit analysts can be seen in a few details. Each job has different responsibilities and duties. Additionally, a senior credit analyst has an average salary of $86,364, which is higher than the $61,751 average annual salary of an underwriter.
The top three skills for an underwriter include customer service, investor guidelines and mortgage loans. The most important skills for a senior credit analyst are credit analysis, customer service, and real estate.
| Underwriter | Senior Credit Analyst | |
| Yearly salary | $61,751 | $86,364 |
| Hourly rate | $29.69 | $41.52 |
| Growth rate | -4% | 17% |
| Number of jobs | 8,510 | 15,221 |
| Job satisfaction | 3 | - |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| 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 senior credit analyst is responsible for reviewing the loan applications of an individual and organization, determining their eligibility by evaluating their credit scores and financial history. Senior credit analysts assess the applicant's capability to pay according to terms and conditions and loan payment plans. They submit recommendation reports of qualified applicants for further investigation and have them submit additional documents as needed. A senior credit analyst decides on credit limits and may provide the applicants' loan and credit alternatives, requiring them to have excellent knowledge of the financial industry and loan options.
Underwriters and senior credit analysts have different pay scales, as shown below.
| Underwriter | Senior Credit Analyst | |
| Average salary | $61,751 | $86,364 |
| Salary range | Between $39,000 And $96,000 | Between $59,000 And $125,000 |
| Highest paying City | Boston, MA | White Plains, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Apple | |
| Best paying industry | Manufacturing | Finance |
There are a few differences between an underwriter and a senior credit analyst in terms of educational background:
| Underwriter | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 66% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriters' and senior credit analysts' demographics:
| Underwriter | Senior Credit Analyst | |
| Average age | 44 | 39 |
| Gender ratio | Male, 38.4% Female, 61.6% | Male, 54.6% Female, 45.4% |
| 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, 8.3% Unknown, 2.7% Hispanic or Latino, 9.9% Asian, 10.0% White, 68.8% American Indian and Alaska Native, 0.3% |
| LGBT Percentage | 9% | 11% |