Mortgage Underwriter Average Salary in Seoul 2024
How much money does a person working as Mortgage Underwriter make in Seoul?
LOW
917,000
KRW AVERAGE
1,950,000
KRW HIGH
3,080,000
KRW
A person working as Mortgage Underwriter in Seoul typically earns around 1,950,000 KRW. Salaries range from 917,000 KRW (lowest) to 3,080,000 KRW (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Mortgage Underwriter salaries in Seoul vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Mortgage Underwriter Pay Scale and Salaries in Seoul
/seoul/banking/mortgage-underwriter/median-and-salary-distribution-monthly-seoul-mortgage-underwriter.jpg "Median and salary distribution Seoul Mortgage Underwriter monthly")
Salary Structure and Pay Scale Comparison
1,840,000 KRW or more
1,610,000 to 1,840,000 KRW
1,120,000 KRW or less
1,120,000 to 1,610,000 KRW
 917,000 KRW |
1,850,000 KRW |
3,080,000 KRW |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Mortgage Underwriter in Seoul range from 917,000 KRW (starting salary) to 3,080,000 KRW (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 1,850,000 KRW, half of the professionals who work as Mortgage Underwriter in Seoul earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Mortgage Underwriter in Seoul earn less than 1,500,000 KRW, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,130,000 KRW while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Mortgage Underwriter in Seoul compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,120,000 KRW to 1,610,000 KRW. About 20% of salaries are below the 1,120,000 KRW mark, while 10% fall within the range of 1,610,000 KRW to 1,840,000 KRW. Only 5% of individuals have salaries exceeding 1,840,000 KRW.
Salary Comparison by Years of Experience / Mortgage Underwriter / Seoul
How do experience and age affect pay?
| 0 - 2 Years | 1,060,000 KRW | |
| 2 - 5 Years | +38% | 1,460,000 KRW |
| 5 - 10 Years | +42% | 2,080,000 KRW |
| 10 - 15 Years | +22% | 2,530,000 KRW |
| 15 - 20 Years | +6% | 2,670,000 KRW |
| 20+ Years | +9% | 2,910,000 KRW |
/seoul/banking/mortgage-underwriter/salary-comparison-by-years-of-experience-monthly-seoul-mortgage-underwriter.jpg "Salary comparison by years of experience monthly Seoul Mortgage Underwriter")
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Mortgage Underwriter and this is what we found.
Employees with less than two years of experience earn approximately 1,060,000 KRW.
While someone with an experience level between two and five years is expected to earn 1,460,000 KRW, 38% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,080,000 KRW, 42% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 2,530,000 KRW, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 2,670,000 KRW, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 2,910,000 KRW, 9% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Mortgage Underwriter / Seoul
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Mortgage Underwriter.
| Bachelor's Degree | 1,460,000 KRW | |
| Master's Degree | +83% | 2,670,000 KRW |
/seoul/banking/mortgage-underwriter/salary-comparison-by-education-level-monthly-seoul-mortgage-underwriter.jpg "Salary comparison by education level monthly Seoul Mortgage Underwriter")
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Mortgage Underwriter in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 1,460,000 KRW.
Level 2: Master's Degree
At this level, the average salary becomes 2,670,000 KRW, 83% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Korea (South) costs anywhere from 19,500,000 KRW to 58,500,000 KRW and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Mortgage Underwriter / Seoul
/banking/mortgage-underwriter/salary-comparison-by-gender-monthly-korea-(south)-mortgage-underwriter.jpg "Salary comparison by gender Korea (South) Mortgage Underwriter monthly")
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Mortgage Underwriter in Korea (South), the average difference between the salary of male and female employees is 6%.
| Male | 1,880,000 KRW | |
| Female | -6% | 1,780,000 KRW |
Salary Comparison By Gender in Korea (South) for all Careers
/salary-comparison-by-gender-monthly-korea-(south).jpg "Salary comparison by gender monthly Korea (South)")
Average Annual Salary Increment Percentage / Mortgage Underwriter / Seoul
How much are annual salary increments in Seoul for individuals working as Mortgage Underwriter? How often do employees get salary raises?
Individuals working as Mortgage Underwriter in Korea (South) are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.
/banking/mortgage-underwriter/annual-salary-increment-rate-korea-(south)-mortgage-underwriter.jpg "Annual Salary Increment Rate Korea (South) Mortgage Underwriter")
Korea (South) / All Professions
/annual-salary-increment-rate-korea-(south).jpg "Annual Salary Increment Rate Korea (South)")
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Mortgage Underwriter / Korea (South)
How much and how often are bonuses being awarded?/banking/mortgage-underwriter/annual-salary-bonus-rate-korea-(south)-mortgage-underwriter.jpg "Annual Salary Bonus Rate Korea (South) Mortgage Underwriter")
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/mortgage-underwriter/annual-salary-bonus-rate-korea-(south)-mortgage-underwriter.jpg
100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Mortgage Underwriter / Seoul
11,300 KRW per hourThe average hourly wage (pay per hour) for individuals working as Mortgage Underwriter in Seoul is 11,300 KRW.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Mortgage Underwriter in Seoul is 5,290 KRW. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Banking |  -100% | |
| AML Analyst | 6,480,000 KRW |  +230% |
| Assistant Bank Branch Manager | 5,720,000 KRW | +190% |
| Assistant Bank Manager | 7,550,000 KRW | +290% |
| ATM Manager | 6,590,000 KRW | +240% |
| ATM Service Technician | 1,700,000 KRW | -13% |
| Bank Accounts Analyst | 2,510,000 KRW | +29% |
| Bank Accounts Collector | 1,540,000 KRW | -21% |
| Bank Accounts Controller | 3,260,000 KRW | +67% |
| Bank Accounts Executive | 4,990,000 KRW | +160% |
| Bank Accounts Manager | 5,410,000 KRW | +180% |
| Bank Auditing Manager | 5,660,000 KRW | +190% |
| Bank Branch Manager | 7,530,000 KRW | +290% |
| Bank Branch Operations Coordinator | 3,570,000 KRW | +83% |
| Bank Clerk | 1,490,000 KRW | -24% |
| Bank Client Service Associate | 2,050,000 KRW | +5% |
| Bank Collector | 1,610,000 KRW | -18% |
| Bank Compliance Specialist | 4,220,000 KRW | +120% |
| Bank Manager | 9,490,000 KRW | +390% |
| Bank Operational Risk Manager | 8,830,000 KRW | +350% |
| Bank Operations Head | 9,070,000 KRW | +360% |
| Bank Operations Officer | 3,780,000 KRW | +94% |
| Bank Operations Specialist | 5,540,000 KRW | +180% |
| Bank Process Manager | 5,030,000 KRW | +160% |
| Bank Product Manager | 5,970,000 KRW | +210% |
| Bank Programme Manager | 6,230,000 KRW | +220% |
| Bank Project Manager | 7,270,000 KRW | +270% |
| Bank Propositions Manager | 6,690,000 KRW | +240% |
| Bank Quantitative Analyst | 4,470,000 KRW | +130% |
| Bank Regional Manager | 10,000,000 KRW | +410% |
| Bank Regional Risk Officer | 5,120,000 KRW | +160% |
| Bank Relationship Manager | 6,890,000 KRW | +250% |
| Bank Relationship Officer | 3,200,000 KRW | +64% |
| Bank Sustainability Analyst | 5,680,000 KRW | +190% |
| Bank Teller | 1,680,000 KRW | -14% |
| Banker | 3,280,000 KRW | +68% |
| Banking Business Analyst | 4,910,000 KRW | +150% |
| Banking Business Development Officer | 2,980,000 KRW | +53% |
| Banking Business Planning Executive | 6,790,000 KRW | +250% |
| Banking Data Analyst | 5,450,000 KRW | +180% |
| Banking Product Manager | 5,780,000 KRW | +200% |
| Banking Reference Data Manager | 5,380,000 KRW | +180% |
| Banking Regulatory Compliance Officer | 5,790,000 KRW | +200% |
| Banking Risk Analyst | 4,930,000 KRW | +150% |
| Banking Technical Analyst | 2,670,000 KRW | +37% |
| Bankruptcy Coordinator | 3,410,000 KRW | +75% |
| Bill and Account Collector | 1,780,000 KRW | -9% |
| Blockchain Analyst | 4,300,000 KRW | +120% |
| Blockchain Architect | 4,670,000 KRW | +140% |
| Blockchain Auditor | 4,280,000 KRW | +120% |
| Blockchain Compliance Analyst | 4,560,000 KRW | +130% |
| Blockchain Consultant | 4,470,000 KRW | +130% |
| Blockchain Trade Facilitator | 4,140,000 KRW | +110% |
| Budget Analyst | 4,870,000 KRW | +150% |
| Capital Risk Manager | 8,940,000 KRW | +360% |
| Cards Marketing Manager | 5,910,000 KRW | +200% |
| Cash Management Manager | 8,620,000 KRW | +340% |
| Check Processing Manager | 6,580,000 KRW | +240% |
| Chief Blockchain Officer | 5,570,000 KRW | +190% |
| Commercial Vault Associate | 4,930,000 KRW | +150% |
| Corporate Banker | 3,550,000 KRW | +82% |
| Corporate Dealer | 4,910,000 KRW | +150% |
| Credit Analyst | 3,940,000 KRW | +100% |
| Credit and Collections Manager | 6,410,000 KRW | +230% |
| Credit Card Fraud Investigator | 5,070,000 KRW | +160% |
| Credit Portfolio Manager | 8,700,000 KRW | +350% |
| Credit Risk Analyst | 5,600,000 KRW | +190% |
| Credit Risk Associate | 5,160,000 KRW | +160% |
| Cryptocurrency Accountant | 2,950,000 KRW | +51% |
| Cryptocurrency Adviser | 5,930,000 KRW | +200% |
| Cryptocurrency Analyst | 4,590,000 KRW | +140% |
| Cryptocurrency Compliance Manager | 5,330,000 KRW | +170% |
| Cryptocurrency Trader | 4,940,000 KRW | +150% |
| Digital Banking Manager | 6,820,000 KRW | +250% |
| Digital Currency Analyst | 4,820,000 KRW | +150% |
| Direct Bank Sales Representative | 3,590,000 KRW | +84% |
| Exchange Control Consultant | 4,990,000 KRW | +160% |
| Executive Account Analyst | 4,940,000 KRW | +150% |
| Financial Bank Planning Consultant | 6,500,000 KRW | +230% |
| Financial Banking Analysis Manager | 7,220,000 KRW | +270% |
| Financial Banking Assistant | 2,420,000 KRW | +24% |
| Financial Banking Systems Manager | 6,460,000 KRW | +230% |
| Foreign Exchange Manager | 7,150,000 KRW | +270% |
| Fraud Analyst | 5,120,000 KRW | +160% |
| Fraud Detection Associate | 3,660,000 KRW | +88% |
| Fraud Detection Manager | 7,720,000 KRW | +300% |
| Fraud Detection Supervisor | 4,130,000 KRW | +110% |
| Internal Bank Audit Manager | 9,200,000 KRW | +370% |
| Internal Bank Auditor | 4,580,000 KRW | +130% |
| Internal Private Banker | 3,400,000 KRW | +74% |
| International Banking Manager | 10,000,000 KRW | +410% |
| Investment Banking Analyst | 7,320,000 KRW | +280% |
| Loan Analyst | 4,610,000 KRW | +140% |
| Loan Area Manager | 6,060,000 KRW | +210% |
| Loan Audit Team Leader | 5,670,000 KRW | +190% |
| Loan Branch Manager | 5,250,000 KRW | +170% |
| Loan Business Development Officer | 2,930,000 KRW | +50% |
| Loan Clerk | 1,770,000 KRW | -9% |
| Loan Collection and Recovery Manager | 5,780,000 KRW | +200% |
| Loan Collection Manager | 5,590,000 KRW | +190% |
| Loan Collector | 1,630,000 KRW | -16% |
| Loan Examiner | 2,030,000 KRW | +4% |
| Loan Officer | 1,800,000 KRW | -8% |
| Loan Processing Manager | 5,190,000 KRW | +170% |
| Loan Processor | 2,240,000 KRW | +15% |
| Loan Quality Assurance Auditor | 4,700,000 KRW | +140% |
| Loan Quality Assurance Manager | 5,410,000 KRW | +180% |
| Loan Quality Assurance Representative | 3,730,000 KRW | +91% |
| Loan Review Manager | 5,260,000 KRW | +170% |
| Loan Team Leader | 4,860,000 KRW | +150% |
| Loans Manager | 6,300,000 KRW | +220% |
| Mortgage Advisor | 3,450,000 KRW | +77% |
| Mortgage Collection Manager | 5,440,000 KRW | +180% |
| Mortgage Collector | 1,570,000 KRW | -20% |
| Mortgage Credit Analyst | 2,640,000 KRW | +35% |
| Mortgage Credit Manager | 5,180,000 KRW | +170% |
| Mortgage Development Manager | 6,150,000 KRW | +220% |
| Mortgage Document Reviewer | 2,160,000 KRW | +11% |
| Mortgage Funding Manager | 6,000,000 KRW | +210% |
| Mortgage Operations Manager | 8,570,000 KRW | +340% |
| Mortgage Payment Processing Clerk | 1,760,000 KRW | -10% |
| Mortgage Processing Manager | 5,490,000 KRW | +180% |
| Mortgage Processor | 2,230,000 KRW | +14% |
| Mortgage Quality Assurance Auditor | 4,730,000 KRW | +140% |
| Mortgage Quality Assurance Manager | 5,590,000 KRW | +190% |
| Mortgage Servicing Clerk | 1,610,000 KRW | -18% |
| Mortgage Servicing Manager | 5,290,000 KRW | +170% |
| Mortgage Underwriter | 1,950,000 KRW | -0% |
| Online Banking Manager | 8,780,000 KRW | +350% |
| Open Banking Strategist | 5,070,000 KRW | +160% |
| Payment Processing Clerk | 1,670,000 KRW | -14% |
| Personal Banker | 3,520,000 KRW | +80% |
| Personal Banking Advisor | 3,730,000 KRW | +91% |
| Phone Banker | 2,430,000 KRW | +24% |
| Private Banker | 3,530,000 KRW | +81% |
| Reconciliation and Investigation Specialist | 3,780,000 KRW | +94% |
| Tax Officer | 2,830,000 KRW | +45% |
| Teller | 1,660,000 KRW | -15% |
| Trade Officer | 1,890,000 KRW | -3% |
| Trade Product Manager | 5,610,000 KRW | +190% |
| Trader | 2,430,000 KRW | +24% |
| Treasury Operations Officer | 4,220,000 KRW | +120% |
| Wealth Management Advisor | 6,860,000 KRW | +250% |
Salary Comparison By City
| City | Average Salary |
| Seoul | 1,950,000 KRW |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Korea (South) is 6% on average across all career fields.
| Private Sector | 3,780,000 KRW | |
| Public Sector | +6% | 4,000,000 KRW |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Mortgage Underwriter in Seoul?
A good and competitive compensation would range anywhere between 1,850,000 KRW and 2,130,000 KRW. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Mortgage Underwriter in Seoul ranges from 917,000 KRW to 1,500,000 KRW. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
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