Home > Salary > Nigeria > Underwriter Business Banking
An underwriter in business banking is responsible for assessing and evaluating loan applications and creditworthiness of businesses. They analyze financial statements, cash flow projections, market trends, and risk factors to determine the viability of lending to a company. Underwriters also review collateral and ensure compliance with lending policies and regulations. They communicate with clients, gather necessary documentation, and provide recommendations for loan approval or denial. Additionally, underwriters monitor existing loans, assess potential risks, and make recommendations for modifications or renewals. This role requires strong analytical skills, attention to detail, and knowledge of financial markets and lending practices.
Estimated Yearly Salary: 5,434,525 NGN
Estimated Monthly Salary: 452,877 NGN
Estimated Weekly Salary: 104,510 NGN per week
Estimated Hourly Salary: 2,613 NGN per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 437,158 NGN
Estimated Weekly Salary: 100,883 NGN per week
Estimated Hourly Salary: 2,522 NGN per hour
Last revision of data: 2024-01-07
Estimated Yearly Salary: 6,507 USD
Estimated Monthly Salary: 542 USD
Estimated Weekly Salary: 125 USD per week
Estimated Hourly Salary: 3 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 5,434,525 NGN
Estimated Monthly Salary: 452,877 NGN
Estimated Weekly Salary: 104,510 NGN per week
Estimated Hourly Salary: 2,613 NGN per hour
By working as Underwriter Business Banking a person can save up to 337 USD per month or 4,040 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Nigeria, see costs of living in Nigeria.
Estimated Yearly Salary for Underwriter Business Banking
Last revision of data: 2025-01-04
Data as of 2025
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Underwriter Business Banking salary in Nigeria
Average Yearly Salary of Underwriter Business Banking in Nigeria is approximately 5,434,525 NGN (6,507 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Underwriter Business Banking do?
An underwriter in business banking is responsible for assessing and evaluating loan applications and creditworthiness of businesses. They analyze financial statements, cash flow projections, market trends, and risk factors to determine the viability of lending to a company. Underwriters also review collateral and ensure compliance with lending policies and regulations. They communicate with clients, gather necessary documentation, and provide recommendations for loan approval or denial. Additionally, underwriters monitor existing loans, assess potential risks, and make recommendations for modifications or renewals. This role requires strong analytical skills, attention to detail, and knowledge of financial markets and lending practices.
Skills: underwriter, business banking, credit analysis, risk assessment, financial analysis, loan approval.
Job industry: Banking
Job industry: Banking
How much does Underwriter Business Banking make?
Salary details
How much does Underwriter Business Banking make?Estimated Yearly Salary: 5,434,525 NGN
Estimated Monthly Salary: 452,877 NGN
Estimated Weekly Salary: 104,510 NGN per week
Estimated Hourly Salary: 2,613 NGN per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 5,245,900 NGNEstimated Monthly Salary: 437,158 NGN
Estimated Weekly Salary: 100,883 NGN per week
Estimated Hourly Salary: 2,522 NGN per hour
Last revision of data: 2024-01-07Underwriter Business Banking estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 6,507 USD
Estimated Monthly Salary: 542 USD
Estimated Weekly Salary: 125 USD per week
Estimated Hourly Salary: 3 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Salary comparison to National average
Nigeria is a country located in West Africa. It is the most populous country on the African continent, with a population of over 200 million people. The country covers an area of about 923,768 square kilometers, making it the 32nd largest country in the world. Nigeria shares borders with Niger, Chad, Cameroon, and Benin.
Estimated national average yearly salary is 3,943,871 NGN (5,140 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Business Banking job salary compared to average salary in Nigeria.
Comparison shows that a person working as Underwriter Business Banking in Nigeria earns on average:
1.38 times the average salary (or 138% of average salary).
Estimated national average yearly salary is 3,943,871 NGN (5,140 USD). Value indicated is pre-tax. Below graph shows estimated Underwriter Business Banking job salary compared to average salary in Nigeria.
Comparison shows that a person working as Underwriter Business Banking in Nigeria earns on average:
1.38 times the average salary (or 138% of average salary).
Is Underwriter Business Banking a well paid job?
Yes, our data shows that Underwriter Business Banking is a well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Underwriter Business Banking?
High salary for Underwriter Business Banking would be somewhere between 5,977,978 NGN and 7,880,061 NGN. However this is an estimation based on Gaussian Distribution.How much can you save working as Underwriter Business Banking in Nigeria?
Living in Nigeria the approximate monthly expenses are: 206 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 5,434,525 NGN
Estimated Monthly Salary: 452,877 NGN
Estimated Weekly Salary: 104,510 NGN per week
Estimated Hourly Salary: 2,613 NGN per hour
By working as Underwriter Business Banking a person can save up to 337 USD per month or 4,040 USD yearly. Values are pre-tax.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Nigeria, see costs of living in Nigeria.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Niger, Chad, Cameroon, Benin. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Underwriter Business Banking
Cameroon is 2,092 USD
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Nigeria
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4. Neurosurgeon
(35,033,176 NGN per year, pre-tax.)
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(34,175,491 NGN per year, pre-tax.)
7. Oncologist
(34,169,925 NGN per year, pre-tax.)
(34,162,253 NGN per year, pre-tax.)
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10. Plastic surgeon
(34,129,168 NGN per year, pre-tax.)
Data as of 2025Random salary:
Vice president (vp), strategic alliances (10,648,451 NGN per year, pre-tax.)
Taxicab driver (2,470,607 NGN per year, pre-tax.)
Sustainability director (6,481,464 NGN per year, pre-tax.)
Electroencephalography (eeg), technician (3,547,219 NGN per year, pre-tax.)
Laboratory specialist (3,864,840 NGN per year, pre-tax.)
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