As of July 01, 2026, the average salary for a Loan Underwriting Manager II in the United States is $139,871 per year, which breaks down to an hourly rate of $67.
However, a Loan Underwriting Manager II's salary can vary significantly. Here’s a look at the typical salary range:
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A Loan Underwriting Manager II's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, education, and company size can directly affect your earning potential.
Experience is a primary driver of a Loan Underwriting Manager II's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:
| Job Role | Years of Experience | Average Salary |
|---|---|---|
| Loan Underwriter IV | 7+ years | $103,774 |
| Loan Underwriting Supervisor | 7+ years | $95,495 |
| Loan Underwriting Manager I | 7+ years | $106,525 |
| Loan Underwriting Manager II | 7+ years | $139,871 |
| Consumer Credit Director | 7+ years | $202,049 |
What Am I Worth?
Your salary can change significantly depending on where you work. States with a higher cost of living and strong industrial sectors often pay more to attract Loan Underwriting Manager IIs. For example, consider the average annual salaries in these key locations:
Loan Underwriting Manager II salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $149,200. While startup companies pay approximate $126,613.
| Company Size | Employees | Average Salary |
|---|---|---|
| Startup | 1~50 | $126,613 |
| Growth Stage | 51~500 | $133,813 |
| Established | 501~5000 | $144,214 |
| Enterprise | 5000+ | $149,200 |
For Loan Underwriting Manager II roles, the industry you choose can impact your earning potential by as much as 20% (the gap between the highest and lowest paying industries). Data shows that the highest-paying industry, Financial Services, offers compensation 10% above the average. Conversely, Loan Underwriting Manager positions in Business Services typically offer lower base pay, as this sector often view Loan Underwriting Manager II as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $153,858 | $74.0 | 10% |
Your level of education can impact your salary potential. While many Loan Underwriting Manager IIs enter the field with a Bachelor's Degree degree, higher education can lead to more specialized and higher-paying roles.
According to our 100% employer-reported salary data, the median salary for a Loan Underwriting Manager II with a Bachelor's Degree is between $142,654 and $154,905).
Loan Underwriting Manager II Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 8.0% |
| High School | 24.0% |
| Associates | 4.0% |
| Bachelors | 40.0% |
| Masters | 24.0% |
| Doctorate | 0.0% |
Understanding how a Loan Underwriting Manager II's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.
Last Updated on July 01, 2026For a Loan Underwriting Manager II, the most direct path to higher earnings is advancing to the Loan Underwriting Director role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $202,049 - a projected growth of 44% over your current level.
Salaries for a Loan Underwriting Manager II can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $127,046 in 2023 to around $125,856 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Loan Underwriting Manager II salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
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| 2023 | $127,046 |
| 2024 | $127,793 |
| 2025 | $125,856 |
| 2026 |
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| 2027 |
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A Loan Underwriting Manager II's earning potential can vary widely depending on several factors, including location, industry, experience, education, and the specific employer. According to the latest salary data by Salary.com, a Loan Underwriting Manager II earns the most in San Jose, CA, where the annual salary of a Loan Underwriting Manager II is $176,419.
The highest pay for Loan Underwriting Manager II is $147,790.
The lowest pay for Loan Underwriting Manager II is $111,237.
Manages the underwriting unit that evaluates the risk of loan and credit applications against the firm's objectives and borrowing guidelines using analysis and assessment of creditworthiness criteria. Reviews the applicant's financial status, documents, data, and applicable collateral. Makes approval, rejection, or modification decisions based on underwriting guidelines and established approval limits. May present to a loan committee. Defines the loan structure consisting of interest rates, repayment terms, and allowed loan amounts. Complies with all federal regulations, state laws, and internal policies related to lending. Responds to escalations of non-conforming loans that require approval review using an exception process. Requires a bachelor's degree. Typically reports to a director. Typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. Typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments.
The Financial Services industry offers the highest average compensation for Loan Underwriting Manager II roles, with salaries approximately 10% above the market median.
Salary.com provides salary estimates, histograms, trends, and comparisons using data from employer job postings and third-party sources.
We offer detailed salary information across multiple percentiles for your reference. (Click here to learn Why the Salary Midpoint Formula Is Crucial for Achieving Pay Equity.)
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