Average Mortgage Underwriter Salary in Switzerland for 2024

In this article, we will look at the average Mortgage Underwriter salary for 2024 in Switzerland and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Swiss franc. To keep things simple, we are using the CHF currency code instead of the currency symbol Fr..

How Much Does a Mortgage Underwriter Make in Switzerland?

A Mortgage Underwriter working in Switzerland will typically earn around 59,900 CHF per year, and this can range from the lowest average salary of about 30,700 CHF to the highest average salary of 94,000 CHF.

Average Annual Salary
59,900 CHF
Average Monthly Salary
4,991 CHF

Lowest Annual Salary
30,700 CHF
Lowest Monthly Salary
2,558 CHF

Highest Annual Salary
94,000 CHF
Highest Monthly Salary
7,833 CHF

These are average salaries for a Mortgage Underwriter in Switzerland and include benefits such as housing and transport. It's also possible for a Mortgage Underwriter to earn more or less than the average salaries shown above.

Mortgage Underwriter salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Mortgage Underwriter Salaries in Switzerland

So we've looked at the average salaries a Mortgage Underwriter will earn in Switzerland. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Mortgage Underwriter can earn between 30,700 CHF and 94,000 CHF on average in Switzerland. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Mortgage Underwriter in Switzerland is 61,500 CHF. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 61,500 CHF, and 50% of the population earn more than 61,500 CHF.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Mortgage Underwriter salary in Switzerland, 25% of the population are earning less than 42,500 CHF while 75% of the population earn more than 42,500 CHF.

75% of the population earn less than 81,000 CHF, and 25% of the population earn more than 81,000 CHF.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Mortgage Underwriter Salary by Experience Level in Switzerland

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average mortgage underwriter salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Mortgage Underwriter in Switzerland that has less than two years of experience can expect to earn somewhere in the region of 35,500 CHF.
  • 2 - 5 Years Experience. With two to five years of experience the average Mortgage Underwriter salary would increase to 45,600 CHF.
  • 5 - 10 Years Experience. From five to ten years of experience as a Mortgage Underwriter, the average salary would be 64,100 CHF.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 79,700 CHF.
  • 15 - 20 Years Experience. A Mortgage Underwriter with 15 to 20 years of experience can earn an average of 81,900 CHF.
  • 20+ Years Experience. For a Mortgage Underwriter with more than 20 years, the expected average salary increases to 88,300 CHF.

Average Salary by Experience Chart

0-2 Years
35,500 CHF
2-5 Years +29%
45,600 CHF
5-10 Years +38%
64,100 CHF
10-15 Years +24%
79,700 CHF
15-20 Years +7%
81,900 CHF
20+ Years +7%
88,300 CHF

Mortgage Underwriter Salary by Education Level in Switzerland

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Mortgage Underwriter in Switzerland based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Mortgage Underwriter in Switzerland with a bachelor's degree education can earn an average salary of 45,000 CHF.

  • Master's Degree. A Mortgage Underwriter in Switzerland with a master's degree education can earn an average salary of 70,700 CHF.

Average Salary by Education Chart

Bachelor's Degree
45,000 CHF
Master's Degree +60%
70,700 CHF

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Switzerland is around 51,600 to 155,000 CHF and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Mortgage Underwriter Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Switzerland, a male mortgage underwriter will earn an average of 61,700 CHF, while a female mortgage underwriter will earn around 61,400 CHF.

This means that a male mortgage underwriter earns approximately 0% more than a female mortgage underwriter for performing the same job.

Average Salary by Gender Chart in Switzerland

Male
61,700 CHF
Female -0%
61,400 CHF

Mortgage Underwriter Average Pay Raise in Switzerland

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Mortgage Underwriter in Switzerland is around 12% every 13 months.

The national average pay raise across all professions and industries in Switzerland is around 9% every 15 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 13 ) × 12  = 11%

What this means is that a Mortgage Underwriter in Switzerland can expect to receive an average pay raise of around 11% every 12 months.

Annual Pay Raise by Industry in Switzerland for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Switzerland.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Mortgage Underwriter Bonus and Incentive Rates in Switzerland

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Mortgage Underwriter is a moderate bonus based job, with 57% of employees reporting at least one bonus in the last 12 months.

43% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
57%
No Bonus
43%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Switzerland earn approximately 5% more than private sector employees in the same role.

Public Sector
127,700 CHF
Private Sector -5%
121,800 CHF

Salaries for Jobs Similar to a Mortgage Underwriter

In the table below, we have salary information for jobs that are similar to a Mortgage Underwriter in Switzerland.

Job Title Category Salary
AML Analyst Banking 191,500 CHF
Assistant Bank Branch Manager Banking 172,200 CHF
Assistant Bank Manager Banking 215,100 CHF
ATM Manager Banking 183,600 CHF
ATM Service Technician Banking 51,800 CHF
Bank Accounts Analyst Banking 75,800 CHF
Bank Accounts Collector Banking 46,700 CHF
Bank Accounts Controller Banking 98,300 CHF
Bank Accounts Executive Banking 134,700 CHF
Bank Accounts Manager Banking 158,700 CHF
Bank Auditing Manager Banking 166,600 CHF
Bank Branch Manager Banking 233,800 CHF
Bank Branch Operations Coordinator Banking 96,000 CHF
Bank Clerk Banking 43,500 CHF
Bank Client Service Associate Banking 63,500 CHF
Bank Collector Banking 45,700 CHF
Bank Compliance Specialist Banking 121,800 CHF
Bank Manager Banking 280,600 CHF
Bank Operational Risk Manager Banking 255,000 CHF
Bank Operations Head Banking 280,600 CHF
Bank Operations Officer Banking 111,700 CHF
Bank Operations Specialist Banking 160,700 CHF
Bank Process Manager Banking 153,800 CHF
Bank Product Manager Banking 180,500 CHF
Bank Programme Manager Banking 191,500 CHF
Bank Project Manager Banking 218,500 CHF
Bank Propositions Manager Banking 200,600 CHF
Bank Quantitative Analyst Banking 142,100 CHF
Bank Regional Manager Banking 278,500 CHF
Bank Regional Risk Officer Banking 142,300 CHF
Bank Relationship Manager Banking 205,400 CHF
Bank Relationship Officer Banking 93,900 CHF
Bank Teller Banking 45,900 CHF
Banker Banking 96,600 CHF
Banking Business Analyst Banking 142,300 CHF
Banking Business Development Officer Banking 86,400 CHF
Banking Business Planning Executive Banking 192,600 CHF
Banking Product Manager Banking 167,100 CHF
Banking Reference Data Manager Banking 151,800 CHF
Banking Risk Analyst Banking 140,200 CHF
Banking Technical Analyst Banking 72,700 CHF
Bankruptcy Coordinator Banking 97,200 CHF
Bill and Account Collector Banking 45,600 CHF
Budget Analyst Banking 146,700 CHF
Capital Risk Manager Banking 268,200 CHF
Cards Marketing Manager Banking 183,900 CHF
Cash Management Manager Banking 238,200 CHF
Check Processing Manager Banking 177,200 CHF
Commercial Vault Associate Banking 130,400 CHF
Corporate Banker Banking 97,600 CHF
Corporate Dealer Banking 142,300 CHF
Credit Analyst Banking 111,700 CHF
Credit and Collections Manager Banking 193,400 CHF
Credit Card Fraud Investigator Banking 151,800 CHF
Credit Portfolio Manager Banking 259,700 CHF
Credit Risk Analyst Banking 161,300 CHF
Credit Risk Associate Banking 153,800 CHF
Direct Bank Sales Representative Banking 105,200 CHF
Exchange Control Consultant Banking 142,300 CHF
Executive Account Analyst Banking 134,700 CHF
Financial Bank Planning Consultant Banking 183,900 CHF
Financial Banking Analysis Manager Banking 199,700 CHF
Financial Banking Assistant Banking 67,000 CHF
Financial Banking Systems Manager Banking 189,800 CHF
Foreign Exchange Manager Banking 204,900 CHF
Fraud Analyst Banking 151,800 CHF
Fraud Detection Associate Banking 103,600 CHF
Fraud Detection Manager Banking 212,500 CHF
Fraud Detection Supervisor Banking 125,400 CHF
Internal Bank Audit Manager Banking 263,900 CHF
Internal Bank Auditor Banking 140,200 CHF
Internal Private Banker Banking 105,200 CHF
International Banking Manager Banking 272,900 CHF
Investment Banking Analyst Banking 212,500 CHF
Loan Analyst Banking 142,300 CHF
Loan Area Manager Banking 172,200 CHF
Loan Audit Team Leader Banking 164,100 CHF
Loan Branch Manager Banking 164,100 CHF
Loan Business Development Officer Banking 87,800 CHF
Loan Clerk Banking 45,600 CHF
Loan Collection and Recovery Manager Banking 163,500 CHF
Loan Collection Manager Banking 161,300 CHF
Loan Collector Banking 45,700 CHF
Loan Examiner Banking 59,800 CHF
Loan Officer Banking 52,000 CHF
Loan Processing Manager Banking 153,800 CHF
Loan Processor Banking 65,200 CHF
Loan Quality Assurance Auditor Banking 146,700 CHF
Loan Quality Assurance Manager Banking 164,100 CHF
Loan Quality Assurance Representative Banking 108,200 CHF
Loan Review Manager Banking 151,800 CHF
Loan Team Leader Banking 138,700 CHF
Loans Manager Banking 193,400 CHF
Mortgage Advisor Banking 95,500 CHF
Mortgage Collection Manager Banking 161,300 CHF
Mortgage Collector Banking 43,800 CHF
Mortgage Credit Analyst Banking 76,000 CHF
Mortgage Credit Manager Banking 158,700 CHF
Mortgage Development Manager Banking 183,600 CHF
Mortgage Document Reviewer Banking 64,900 CHF
Mortgage Funding Manager Banking 191,500 CHF
Mortgage Operations Manager Banking 241,200 CHF
Mortgage Payment Processing Clerk Banking 53,500 CHF
Mortgage Processing Manager Banking 152,900 CHF
Mortgage Processor Banking 59,800 CHF
Mortgage Quality Assurance Auditor Banking 142,100 CHF
Mortgage Quality Assurance Manager Banking 164,100 CHF
Mortgage Servicing Clerk Banking 48,600 CHF
Mortgage Servicing Manager Banking 153,800 CHF
Online Banking Manager Banking 233,800 CHF
Payment Processing Clerk Banking 47,200 CHF
Personal Banker Banking 97,600 CHF
Personal Banking Advisor Banking 109,000 CHF
Phone Banker Banking 67,800 CHF
Private Banker Banking 101,100 CHF
Reconciliation and Investigation Specialist Banking 118,900 CHF
Tax Officer Banking 85,700 CHF
Teller Banking 50,000 CHF
Trade Officer Banking 57,800 CHF
Trade Product Manager Banking 166,600 CHF
Trader Banking 69,600 CHF
Treasury Operations Officer Banking 119,700 CHF

Salary Comparison by City

If you want to compare salaries with different cities in Switzerland, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Basel 63,900 CHF
Bern 58,800 CHF
Biel 54,700 CHF
Geneve 64,900 CHF
Lausanne 61,400 CHF
Lugano 55,300 CHF
Luzern 62,100 CHF
St. Gallen 61,400 CHF
Winterthur 57,900 CHF
Zurich 65,900 CHF

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