Career comparison
Credit Analyst vs. Insurance Underwriter
Side-by-side pay, training, growth and day-to-day duties to help you choose between two related careers.
Credit analysts earn more at the median ($83,510 vs. $81,370), while credit analysts usually get to work faster (Bank credit training programs of training). Credit analysts decide whether borrowers can repay by studying their finances. Insurance underwriters decide whether to insure people and businesses, and on what terms.
Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026
| Credit Analyst | Insurance Underwriter | |
|---|---|---|
| Median pay | $83,510 ($40.15/hr) | $81,370 ($39.12/hr) |
| Pay range (10th–90th) | $56,250 – $169,230 | $55,530 – $145,160 |
| Job growth, 2025–35 | -4.3% (a projected decline) | -3.8% (a projected decline) |
| Openings per year | 3,100 | 6,800 |
| Typical entry education | Bachelor's degree | Bachelor's degree |
| Training time | Bank credit training programs | Moderate on-the-job training |
| Key credential | CCBA | CPCU |
| Work setting | Credit analysts work in bank and corporate offices.. | Underwriters work in insurance company offices, and many work remotely.. |
What each job does
Credit Analyst
- Analyze financial statements
- Review credit reports
- Calculate financial ratios
- Write credit memos
- Recommend approvals or denials
Insurance Underwriter
- Review applications
- Assess risk
- Set premiums and terms
- Approve or decline coverage
- Work with agents and brokers
How they’re similar
Both careers involve working with information, desk work, working independently, and problem-solving. Both are part of the business & office field, so many skills transfer between them.
Which should you choose?
Choose credit analyst if…
- I like financial statements
- I’m skeptical in a healthy way
- I write clearly
Choose insurance underwriter if…
- I like analyzing risk
- I make decisions confidently
- I like rules with judgment
Still torn? Take the Credit Analyst fit quiz and the Insurance Underwriter fit quiz, or the full Career Match Quiz.
Quick comparisons
Which pays more, credit analyst or insurance underwriter?
Credit Analysts earn more at the median: $83,510 versus $81,370 for insurance underwriters, based on BLS May 2025 data.
Which takes less time to train for?
Credit Analysts typically train faster (Bank credit training programs) than insurance underwriters (Moderate on-the-job training).
Which career has better job growth?
BLS projects insurance underwriters to grow -3.8% from 2025–35, compared with -4.3% for credit analysts.