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The differences between underwriting specialists 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 $63,325 average annual salary of an underwriting specialist.
The top three skills for an underwriting specialist include customer service, underwriting guidelines and financial statements. The most important skills for a senior credit analyst are credit analysis, customer service, and real estate.
| Underwriting Specialist | Senior Credit Analyst | |
| Yearly salary | $63,325 | $86,364 |
| Hourly rate | $30.44 | $41.52 |
| Growth rate | -4% | 17% |
| Number of jobs | 25,164 | 15,221 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Average age | 44 | 39 |
| Years of experience | - | 2 |
An underwriting specialist is responsible for reviewing clients' applications in availing financial services and determining their eligibility by analyzing credit scores and risk potential. Underwriting specialists record all necessary information and may ask for additional requirements for further investigation. They assess policy applications and implement terms and conditions upon approval and ensure that the clients understood the process to prevent miscommunication and payment delays. An underwriting specialist must have extensive knowledge of the loan and insurance disciplines to identify coverage and limitations for efficient contract negotiations.
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.
Underwriting specialists and senior credit analysts have different pay scales, as shown below.
| Underwriting Specialist | Senior Credit Analyst | |
| Average salary | $63,325 | $86,364 |
| Salary range | Between $39,000 And $101,000 | Between $59,000 And $125,000 |
| Highest paying City | Boston, MA | White Plains, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | AIG | Apple |
| Best paying industry | Finance | Finance |
There are a few differences between an underwriting specialist and a senior credit analyst in terms of educational background:
| Underwriting Specialist | Senior Credit Analyst | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 71% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between underwriting specialists' and senior credit analysts' demographics:
| Underwriting Specialist | Senior Credit Analyst | |
| Average age | 44 | 39 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 54.6% Female, 45.4% |
| Race ratio | Black or African American, 8.9% Unknown, 2.5% Hispanic or Latino, 10.0% Asian, 5.8% White, 72.4% 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% |