As of March 01, 2025, the average annual salary for a Loan Underwriter I in Wayne, NJ is $72,062. Salary.com reports that pay typically ranges from $61,738 to $82,409, with most professionals earning between $52,339 and $91,829.
| Annual Salary |
Monthly Pay |
Weekly Pay |
Hourly Wage |
|
| 75th Percentile | $71,597 | $5,966 | $1,377 | $34 |
| Average | $62,608 | $5,217 | $1,204 | $30 |
| 25th Percentile | $53,639 | $4,470 | $1,032 | $26 |
An entry-level Loan Underwriter I with under 1 year experience makes about $70,382. With less than 2 years of experience, a mid-level Loan Underwriter I makes around $71,448. After 2-4 years, the Loan Underwriter I pay rises to about $73,734. Those senior Loan Underwriter I with 5-8 years of experience earn roughly $74,191, and those Loan Underwriter I having 8 years or more experience are expected to earn about $74,496 on average.
| Levels | Salary |
|---|---|
| Entry Level Loan Underwriter I | $70,382 |
| Intermediate Level Loan Underwriter I | $71,448 |
| Senior Level Loan Underwriter I | $73,734 |
| Specialist Level Loan Underwriter I | $74,191 |
| Expert Level Loan Underwriter I | $74,496 |
| Entry Level | 12% |
| Mid Level | 14% |
| Senior Level | 18% |
| Top Level | 18% |
| Experienced | 19% |
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Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.
Analysis: Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
Microsoft Office: Microsoft Office is a suite of desktop productivity applications that is designed by Microsoft for business use. You can create documents containing text and images, work with data in spreadsheets and databases, create presentations and posters.
Commercial Banking: Is a profit oriented banking by providing loans to customers and charging interest. The bank’s funds come from money deposited by the bank customers in saving accounts, checking accounts, money market accounts, and certificates of deposit (CDs).
| Skill | Salary | Demand |
|---|---|---|
|
Portfolio Management
|
$97,284 |
35%
|
|
Decision Making
|
$97,284 |
35%
|
|
Balance Sheet
|
$97,284 |
35%
|
|
Integrity
|
$93,681 |
30%
|
|
Critical Thinking
|
$93,681 |
30%
|
|
Flexibility
|
$90,078 |
25%
|
