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Banking Average Salaries in Belgium 2024

How much money does a person working in Banking make in Belgium?


Average Monthly Salary
6,680 EUR
( 80,200 EUR yearly)

LOW
2,400
EUR
AVERAGE
6,680
EUR
HIGH
13,200
EUR
All salary figures displayed here are per month except when noted otherwise.
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.

A person working in Banking in Belgium typically earns around 6,680 EUR. Salaries range from 2,400 EUR (lowest average) to 13,200 EUR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Belgium exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst9,090 EUR
Assistant Bank Branch Manager8,210 EUR
Assistant Bank Manager10,400 EUR
ATM Manager9,050 EUR
ATM Service Technician2,890 EUR
Bank Accounts Analyst4,010 EUR
Bank Accounts Collector2,490 EUR
Bank Accounts Controller4,920 EUR
Bank Accounts Executive7,220 EUR
Bank Accounts Manager7,660 EUR
Bank Auditing Manager8,420 EUR
Bank Branch Manager10,800 EUR
Bank Branch Operations Coordinator5,290 EUR
Bank Clerk2,550 EUR
Bank Client Service Associate3,330 EUR
Bank Collector2,560 EUR
Bank Compliance Specialist5,700 EUR
Bank Manager12,700 EUR
Bank Operational Risk Manager13,000 EUR
Bank Operations Head12,400 EUR
Bank Operations Officer5,290 EUR
Bank Operations Specialist8,270 EUR
Bank Process Manager7,400 EUR
Bank Product Manager 8,230 EUR
Bank Programme Manager8,920 EUR
Bank Project Manager10,100 EUR
Bank Propositions Manager9,730 EUR
Bank Quantitative Analyst6,710 EUR
Bank Regional Manager12,600 EUR
Bank Regional Risk Officer6,760 EUR
Bank Relationship Manager9,560 EUR
Bank Relationship Officer4,690 EUR
Bank Sustainability Analyst7,380 EUR
Bank Teller2,620 EUR
Banker4,900 EUR
Banking Business Analyst6,940 EUR
Banking Business Development Officer4,350 EUR
Banking Business Planning Executive9,250 EUR
Banking Data Analyst7,730 EUR
Banking Product Manager8,670 EUR
Banking Reference Data Manager7,470 EUR
Banking Regulatory Compliance Officer8,090 EUR
Banking Risk Analyst7,110 EUR
Banking Technical Analyst3,990 EUR
Bankruptcy Coordinator5,210 EUR
Bill and Account Collector2,680 EUR
Blockchain Analyst6,190 EUR
Blockchain Architect6,570 EUR
Blockchain Auditor6,000 EUR
Blockchain Compliance Analyst6,320 EUR
Blockchain Consultant6,740 EUR
Blockchain Trade Facilitator5,930 EUR
Budget Analyst6,990 EUR
Capital Risk Manager12,300 EUR
Cards Marketing Manager8,820 EUR
Cash Management Manager11,600 EUR
Check Processing Manager8,870 EUR
Chief Blockchain Officer7,840 EUR
Commercial Vault Associate6,660 EUR
Corporate Banker5,050 EUR
Corporate Dealer7,260 EUR
Credit Analyst5,310 EUR
Credit and Collections Manager9,080 EUR
Credit Card Fraud Investigator7,210 EUR
Credit Portfolio Manager12,400 EUR
Credit Risk Analyst7,300 EUR
Credit Risk Associate7,490 EUR
Cryptocurrency Accountant4,620 EUR
Cryptocurrency Adviser8,710 EUR
Cryptocurrency Analyst6,140 EUR
Cryptocurrency Compliance Manager7,680 EUR
Cryptocurrency Trader7,080 EUR
Digital Banking Manager9,110 EUR
Digital Currency Analyst6,820 EUR
Direct Bank Sales Representative5,200 EUR
Exchange Control Consultant7,320 EUR
Executive Account Analyst7,040 EUR
Financial Bank Planning Consultant8,460 EUR
Financial Banking Analysis Manager9,710 EUR
Financial Banking Assistant3,530 EUR
Financial Banking Systems Manager9,410 EUR
Foreign Exchange Manager10,200 EUR
Fraud Analyst7,380 EUR
Fraud Detection Associate4,910 EUR
Fraud Detection Manager10,000 EUR
Fraud Detection Supervisor5,970 EUR
Internal Bank Audit Manager12,500 EUR
Internal Bank Auditor6,990 EUR
Internal Private Banker5,230 EUR
International Banking Manager13,200 EUR
Investment Banking Analyst10,100 EUR
Loan Analyst6,580 EUR
Loan Area Manager8,620 EUR
Loan Audit Team Leader8,100 EUR
Loan Branch Manager7,420 EUR
Loan Business Development Officer4,300 EUR
Loan Clerk2,760 EUR
Loan Collection and Recovery Manager7,760 EUR
Loan Collection Manager8,400 EUR
Loan Collector2,490 EUR
Loan Examiner3,240 EUR
Loan Officer2,940 EUR
Loan Processing Manager7,470 EUR
Loan Processor3,460 EUR
Loan Quality Assurance Auditor6,640 EUR
Loan Quality Assurance Manager7,500 EUR
Loan Quality Assurance Representative5,260 EUR
Loan Review Manager7,870 EUR
Loan Team Leader7,220 EUR
Loans Manager9,360 EUR
Mortgage Advisor4,730 EUR
Mortgage Collection Manager7,840 EUR
Mortgage Collector2,570 EUR
Mortgage Credit Analyst3,960 EUR
Mortgage Credit Manager7,970 EUR
Mortgage Development Manager8,390 EUR
Mortgage Document Reviewer3,220 EUR
Mortgage Funding Manager8,840 EUR
Mortgage Operations Manager11,700 EUR
Mortgage Payment Processing Clerk3,010 EUR
Mortgage Processing Manager8,030 EUR
Mortgage Processor3,180 EUR
Mortgage Quality Assurance Auditor6,500 EUR
Mortgage Quality Assurance Manager7,530 EUR
Mortgage Servicing Clerk2,610 EUR
Mortgage Servicing Manager7,480 EUR
Mortgage Underwriter3,160 EUR
Online Banking Manager11,500 EUR
Open Banking Strategist7,150 EUR
Payment Processing Clerk2,760 EUR
Personal Banker5,200 EUR
Personal Banking Advisor 5,380 EUR
Phone Banker3,630 EUR
Private Banker5,260 EUR
Reconciliation and Investigation Specialist5,690 EUR
Tax Officer4,470 EUR
Teller2,630 EUR
Trade Officer3,190 EUR
Trade Product Manager7,620 EUR
Trader3,520 EUR
Treasury Operations Officer5,960 EUR
Wealth Management Advisor9,460 EUR


Banking Jobs Pay Scale and Salaries in Belgium

Median and salary distribution Belgium Banking monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
6,570 EUR or more
10% of people earn
5,520 to 6,570 EUR
20% of people earn
3,190 EUR or less
65% of people earn
3,190 to 5,520 EUR
Minimum Salary
2,400 EUR
Median
5,920 EUR
Maximum
13,200 EUR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Banking in Belgium range from 2,400 EUR (starting average salary) to 13,200 EUR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 5,920 EUR, implying that half of the workforce in Belgium earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Belgium earn less than 4,530 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 7,190 EUR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Belgium. The analysis revealed that roughly 65% of all reported salaries fell within the range of 3,190 EUR to 5,520 EUR. Approximately 20% of salaries were below the 3,190 EUR mark, while 10% ranged from 5,520 EUR to 6,570 EUR. Only 5% of individuals earned a gross salary of 6,570 EUR or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Banking in Belgium having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Banking in Belgium, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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 Belgium costs anywhere from 30,800 EUR to 92,500 EUR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / Belgium

Salary comparison by gender Belgium Banking monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in Belgium, the average difference between the salary of male and female employees is 6%.

Male
6,880 EUR
Female-5%
6,520 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Belgium for all Careers

Salary comparison by gender monthly Belgium
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Average Annual Salary Increment Percentage / Banking / Belgium

How much are annual salary increments in Belgium for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in Belgium are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Annual Salary Increment Rate Belgium Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Belgium / All Professions

Annual Salary Increment Rate Belgium
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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

The average salary increase in one year (12 months) in Belgium is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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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 / Banking / Belgium

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Belgium Banking
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23% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 77% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
77%
No Bonus
23%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, 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 Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These 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 GeneratorsSupporting 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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


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.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

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.

Hourly Average Wage / Banking / Belgium


39 EUR per hour

The average hourly wage (pay per hour) in Banking in Belgium is 39 EUR.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

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 in Banking in Belgium is 14 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Antwerp7,740 EUR
Brugge (Bruges)6,700 EUR
Brussel6,910 EUR
Charleroi7,340 EUR
Gent (Ghent)7,590 EUR
Leuven6,350 EUR
Liege7,210 EUR
Namur6,600 EUR

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 Belgium is 5% on average across all career fields.

Private Sector
6,020 EUR
Public Sector+5%
6,340 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Banking in Belgium?

A good and competitive compensation would range anywhere between 5,920 EUR and 7,190 EUR. 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 jobs in Banking in Belgium ranges from 2,400 EUR to 4,530 EUR. 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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