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The differences between underwriting specialists and specialists can be seen in a few details. Each job has different responsibilities and duties. Additionally, an underwriting specialist has an average salary of $63,325, which is higher than the $58,013 average annual salary of a specialist.
The top three skills for an underwriting specialist include customer service, underwriting guidelines and financial statements. The most important skills for a specialist are patients, customer service, and work ethic.
| Underwriting Specialist | Specialist | |
| Yearly salary | $63,325 | $58,013 |
| Hourly rate | $30.44 | $27.89 |
| Growth rate | -4% | 10% |
| Number of jobs | 25,164 | 358,433 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 49% |
| Average age | 44 | 42 |
| 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.
Specialists are employees who are responsible for specific tasks or activities in the department they are assigned to. The actions or tasks they work on are related to their educational background or work experiences. They are usually highly skilled in specializations related to the work they are assigned to. Specialists are also highly trained on the competencies that are required of their specialty. As such, they are focused on the skills and competencies that are needed to enhance their experience in their specific field further.
Underwriting specialists and specialists have different pay scales, as shown below.
| Underwriting Specialist | Specialist | |
| Average salary | $63,325 | $58,013 |
| Salary range | Between $39,000 And $101,000 | Between $32,000 And $104,000 |
| Highest paying City | Boston, MA | Jersey City, NJ |
| Highest paying state | Massachusetts | New Jersey |
| Best paying company | AIG | The Citadel |
| Best paying industry | Finance | - |
There are a few differences between an underwriting specialist and a specialist in terms of educational background:
| Underwriting Specialist | Specialist | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 49% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between underwriting specialists' and specialists' demographics:
| Underwriting Specialist | Specialist | |
| Average age | 44 | 42 |
| Gender ratio | Male, 39.0% Female, 61.0% | Male, 47.5% Female, 52.5% |
| 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, 11.4% Unknown, 5.4% Hispanic or Latino, 16.4% Asian, 10.5% White, 55.9% American Indian and Alaska Native, 0.4% |
| LGBT Percentage | 9% | 11% |