Underwriter Education Requirements

Candidates who would like to function as underwriters need to carry out the crucial task of guaranteeing the creditability of the individual or firm to repay back the loan amount. This is done after extensive analysis is carried out about the loan taker. Candidates who would like to become underwriters need to have a high level of education, at least a master degree in business administration in finance specialization. There is good career scope in this field as the number of loan takers is huge and the qualified underwriters are always in great demand.

In the process of loan approval, the underwriter plays a very important role for final disbursal of the loan amount. The following given points highlight the educational requirements, degrees and certifications, qualifications and training, and salary details relevant for the position of an underwriter.

Underwriter Educational Requirements

  • Candidates should complete their education in finance and accounting from the top colleges and universities in the United States.
  • Candidates can also take associate programs and diploma programs from good colleges and universities and pass the examinations with good grades.
  • Candidates should develop their knowledge in other courses like statistics, business law, market research, business management strategies, etc in order to execute the responsibilities of an underwriter successfully.

Underwriter Degree, Courses, and Certifications

The following courses are relevant for those candidates who are interested to set up the career as an underwriter:

  • Bachelor of Business Administration in Finance
  • Associate of Arts in Accounting
  • Graduate Accounting Certificate
  • MBA in Business Administration – Finance
  • BS in Accounting and Finance

Underwriter Qualifications and Training

Candidates can gain additional certifications in the subjects mentioned above, although not mandatory but preferable. Candidates should develop good negotiation skills and good interpersonal skills.

Underwriter Colleges and Universities

Underwriter Wages and Salaries

The job of an underwriter is available in many sectors like insurance – both commercial insurance and general insurance, mortgage lending and credit product companies, banking firms, health insurance, etc. It is advisable to possess at least 1-4 years of experience in order to become an underwriter. Candidates would be able to get the basic salary, profit sharing, bonus and commission as part of their gross compensation. According to the salary estimates by Pay Scale and released in the form of the National Salary data, the annual compensation of an underwriter is in the range of $34,000 to $80,000 with the median salary being $54,000 per annum approximately.

Category: Banking Education Requirements

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