As of August 01, 2026, the average salary for a Credit Underwriter in the United States is $59,350 per year, which breaks down to an hourly rate of $29.
However, a Credit Underwriter's salary can vary significantly. Here’s a look at the typical salary range:
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A Credit Underwriter'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 Credit Underwriter'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:
| Levels | Salary |
|---|---|
| Credit Un... Level Credit Underwriter | $58,883 |
| Underwrit... Level Credit Underwriter | $69,378 |
| Underwrit... Level Credit Underwriter | $90,191 |
| Underwrit... Level Credit Underwriter | $105,371 |
| Property ... Level Credit Underwriter | $112,151 |
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 Credit Underwriters. For example, consider the average annual salaries in these key locations:
Demanded Skills for the Role:
| Skills | Demand Percentage |
|---|---|
| Analysis | 7.49% |
| Tax Return | 1.45% |
| Financial Services | 1.14% |
| Skill | Salary | Salary % Increase |
|---|---|---|
|
Coaching
|
$66,472 |
12%
|
|
Business Development
|
$64,691 |
9%
|
|
Knowledge of Underwriting
|
$64,691 |
9%
|
|
Integrity
|
$62,317 |
5%
|
|
Financial Services
|
$61,724 |
4%
|
|
Accountability
|
$61,130 |
3%
|
For Credit Underwriter roles, the industry you choose can affect earning potential by as much as 50% (the gap between the highest and lowest paying industries). Data shows that the Financial Services and Insurance sectors offer the strongest compensation, at 20% above the average. In contrast, Credit Underwriter positions in Retail & Wholesale or Edu., Gov't. & Nonprofit typically offer lower base pay, as these industries often view Credit Underwriter as a support function rather than a direct revenue driver.
| Industry Sector | Average Annual Salary | Average Hourly Rate | Pay vs.Avg |
|---|---|---|---|
| Financial Services | $71,220 | $34.0 | 20% |
| Insurance | $68,252 | $33.0 | 15% |
| Business Services | $65,285 | $31.0 | 10% |
Your level of education can impact your salary potential. While many Credit Underwriters enter the field with a Associate'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 Credit Underwriter with a Associate's Degree is between $58,480 and $61,719).
Credit Underwriter Salaries by Degree Level
| Degree Level | % of user with this level of education |
|---|---|
| No Diploma | 0.3% |
| High School | 12.4% |
| Associates | 6.8% |
| Bachelors | 71.3% |
| Masters | 8.7% |
| Doctorate | 0.3% |
Understanding how a Credit Underwriter'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 August 01, 2026Salaries for a Credit Underwriter can change over time, reflecting shifts in market demand and the overall economy. The median salary decreased from $64,249 in 2023 to around $61,335 in 2025, reflecting changes in demand, location, experience, and the wider economy. For a detailed analysis of Credit Underwriter salary trends, .
| Year | Average Annual Salary |
|---|---|
| 2022 |
View More
|
| 2023 | $64,249 |
| 2024 | $62,814 |
| 2025 | $61,335 |
| 2026 |
View More
|
| 2027 |
View More
|
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The Financial Services industry offers the highest average compensation for Credit Underwriter roles, with salaries approximately 20% 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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