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Banking Average Salaries in Philippines 2024

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


Average Monthly Salary
48,800 PHP
( 585,000 PHP yearly)

LOW
15,300
PHP
AVERAGE
48,800
PHP
HIGH
99,500
PHP
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 Philippines typically earns around 48,800 PHP. Salaries range from 15,300 PHP (lowest average) to 99,500 PHP (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 Philippines 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 Analyst67,700 PHP
Assistant Bank Branch Manager57,700 PHP
Assistant Bank Manager74,000 PHP
ATM Manager60,700 PHP
ATM Service Technician18,000 PHP
Bank Accounts Analyst26,300 PHP
Bank Accounts Collector16,000 PHP
Bank Accounts Controller31,500 PHP
Bank Accounts Executive50,100 PHP
Bank Accounts Manager56,500 PHP
Bank Auditing Manager56,300 PHP
Bank Branch Manager80,900 PHP
Bank Branch Operations Coordinator35,800 PHP
Bank Clerk15,500 PHP
Bank Client Service Associate20,300 PHP
Bank Collector14,900 PHP
Bank Compliance Specialist41,200 PHP
Bank Manager95,500 PHP
Bank Operational Risk Manager88,600 PHP
Bank Operations Head93,600 PHP
Bank Operations Officer36,000 PHP
Bank Operations Specialist58,000 PHP
Bank Process Manager49,000 PHP
Bank Product Manager 57,800 PHP
Bank Programme Manager62,900 PHP
Bank Project Manager75,300 PHP
Bank Propositions Manager68,800 PHP
Bank Quantitative Analyst44,200 PHP
Bank Regional Manager90,500 PHP
Bank Regional Risk Officer46,900 PHP
Bank Relationship Manager71,300 PHP
Bank Relationship Officer29,900 PHP
Bank Sustainability Analyst54,300 PHP
Bank Teller16,100 PHP
Banker31,400 PHP
Banking Business Analyst48,400 PHP
Banking Business Development Officer30,500 PHP
Banking Business Planning Executive65,500 PHP
Banking Data Analyst54,200 PHP
Banking Product Manager58,000 PHP
Banking Reference Data Manager49,600 PHP
Banking Regulatory Compliance Officer53,900 PHP
Banking Risk Analyst47,000 PHP
Banking Technical Analyst26,200 PHP
Bankruptcy Coordinator33,500 PHP
Bill and Account Collector16,600 PHP
Blockchain Analyst40,500 PHP
Blockchain Architect45,600 PHP
Blockchain Auditor43,400 PHP
Blockchain Compliance Analyst43,600 PHP
Blockchain Consultant44,300 PHP
Blockchain Trade Facilitator40,600 PHP
Budget Analyst46,100 PHP
Capital Risk Manager92,600 PHP
Cards Marketing Manager62,100 PHP
Cash Management Manager82,900 PHP
Check Processing Manager59,500 PHP
Chief Blockchain Officer52,200 PHP
Commercial Vault Associate48,500 PHP
Corporate Banker34,200 PHP
Corporate Dealer48,100 PHP
Credit Analyst36,200 PHP
Credit and Collections Manager67,400 PHP
Credit Card Fraud Investigator50,200 PHP
Credit Portfolio Manager88,500 PHP
Credit Risk Analyst51,100 PHP
Credit Risk Associate52,200 PHP
Cryptocurrency Accountant30,900 PHP
Cryptocurrency Adviser58,300 PHP
Cryptocurrency Analyst42,400 PHP
Cryptocurrency Compliance Manager56,500 PHP
Cryptocurrency Trader49,200 PHP
Digital Banking Manager64,300 PHP
Digital Currency Analyst45,000 PHP
Direct Bank Sales Representative33,400 PHP
Exchange Control Consultant51,000 PHP
Executive Account Analyst46,500 PHP
Financial Bank Planning Consultant59,600 PHP
Financial Banking Analysis Manager72,400 PHP
Financial Banking Assistant22,800 PHP
Financial Banking Systems Manager63,200 PHP
Foreign Exchange Manager72,600 PHP
Fraud Analyst48,900 PHP
Fraud Detection Associate35,000 PHP
Fraud Detection Manager71,300 PHP
Fraud Detection Supervisor41,000 PHP
Internal Bank Audit Manager89,200 PHP
Internal Bank Auditor46,100 PHP
Internal Private Banker33,700 PHP
International Banking Manager94,600 PHP
Investment Banking Analyst68,100 PHP
Loan Analyst45,600 PHP
Loan Area Manager57,700 PHP
Loan Audit Team Leader54,000 PHP
Loan Branch Manager51,900 PHP
Loan Business Development Officer30,100 PHP
Loan Clerk17,100 PHP
Loan Collection and Recovery Manager54,500 PHP
Loan Collection Manager56,100 PHP
Loan Collector16,000 PHP
Loan Examiner20,700 PHP
Loan Officer18,400 PHP
Loan Processing Manager49,600 PHP
Loan Processor22,200 PHP
Loan Quality Assurance Auditor48,500 PHP
Loan Quality Assurance Manager52,400 PHP
Loan Quality Assurance Representative37,500 PHP
Loan Review Manager55,000 PHP
Loan Team Leader47,800 PHP
Loans Manager66,100 PHP
Mortgage Advisor31,900 PHP
Mortgage Collection Manager57,700 PHP
Mortgage Collector15,700 PHP
Mortgage Credit Analyst24,700 PHP
Mortgage Credit Manager55,800 PHP
Mortgage Development Manager62,100 PHP
Mortgage Document Reviewer20,600 PHP
Mortgage Funding Manager59,200 PHP
Mortgage Operations Manager83,700 PHP
Mortgage Payment Processing Clerk17,900 PHP
Mortgage Processing Manager56,200 PHP
Mortgage Processor21,500 PHP
Mortgage Quality Assurance Auditor45,100 PHP
Mortgage Quality Assurance Manager55,400 PHP
Mortgage Servicing Clerk16,100 PHP
Mortgage Servicing Manager54,900 PHP
Mortgage Underwriter20,100 PHP
Online Banking Manager86,300 PHP
Open Banking Strategist47,300 PHP
Payment Processing Clerk17,100 PHP
Personal Banker35,200 PHP
Personal Banking Advisor 34,700 PHP
Phone Banker23,500 PHP
Private Banker33,900 PHP
Reconciliation and Investigation Specialist38,900 PHP
Tax Officer29,700 PHP
Teller16,200 PHP
Trade Officer19,200 PHP
Trade Product Manager53,400 PHP
Trader24,000 PHP
Treasury Operations Officer43,100 PHP
Wealth Management Advisor67,000 PHP


Banking Jobs Pay Scale and Salaries in Philippines

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

5% of people earn
50,900 PHP or more
10% of people earn
42,200 to 50,900 PHP
20% of people earn
22,900 PHP or less
65% of people earn
22,900 to 42,200 PHP
Minimum Salary
15,300 PHP
Median
45,500 PHP
Maximum
99,500 PHP




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 Philippines range from 15,300 PHP (starting average salary) to 99,500 PHP (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 45,500 PHP, implying that half of the workforce in Philippines 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 Philippines earn less than 34,000 PHP, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 56,000 PHP, 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 Philippines. The analysis revealed that roughly 65% of all reported salaries fell within the range of 22,900 PHP to 42,200 PHP. Approximately 20% of salaries were below the 22,900 PHP mark, while 10% ranged from 42,200 PHP to 50,900 PHP. Only 5% of individuals earned a gross salary of 50,900 PHP 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 Philippines 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 Philippines, 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 Philippines costs anywhere from 224,000 PHP to 671,000 PHP 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 / Philippines

Salary comparison by gender Philippines 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 Philippines, the average difference between the salary of male and female employees is 15%.

Male
52,100 PHP
Female-13%
45,400 PHP
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Philippines for all Careers

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

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

Professionals working in Banking in Philippines are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Philippines 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.

Philippines / All Professions

Annual Salary Increment Rate Philippines
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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 Philippines is 5%.

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 / Philippines

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Philippines Banking
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20% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 80% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
80%
No Bonus
20%

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 / Philippines


280 PHP per hour

The average hourly wage (pay per hour) in Banking in Philippines is 280 PHP.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 Philippines is 88 PHP. 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
Antipolo53,500 PHP
Cagayan de Oro51,800 PHP
Cebu55,400 PHP
Dasmarinas46,800 PHP
Davao57,400 PHP
Kalookan56,300 PHP
Las Pinas48,900 PHP
Makati47,900 PHP
Manila58,200 PHP
Paranaque50,800 PHP
Pasig52,600 PHP
Quezon City59,200 PHP
Taguig54,600 PHP
Valenzuela49,700 PHP

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 Philippines is 12% on average across all career fields.

Private Sector
42,300 PHP
Public Sector+12%
47,300 PHP
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 Philippines?

A good and competitive compensation would range anywhere between 45,500 PHP and 56,000 PHP. 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 Philippines ranges from 15,300 PHP to 34,000 PHP. 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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