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Banking Average Salaries in Italy 2024

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


Average Monthly Salary
3,990 EUR
( 47,900 EUR yearly)

LOW
1,250
EUR
AVERAGE
3,990
EUR
HIGH
8,140
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 Italy typically earns around 3,990 EUR. Salaries range from 1,250 EUR (lowest average) to 8,140 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 Italy 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 Analyst5,880 EUR
Assistant Bank Branch Manager5,200 EUR
Assistant Bank Manager6,660 EUR
ATM Manager5,650 EUR
ATM Service Technician1,570 EUR
Bank Accounts Analyst2,200 EUR
Bank Accounts Collector1,330 EUR
Bank Accounts Controller2,830 EUR
Bank Accounts Executive4,220 EUR
Bank Accounts Manager4,910 EUR
Bank Auditing Manager5,070 EUR
Bank Branch Manager7,060 EUR
Bank Branch Operations Coordinator3,010 EUR
Bank Clerk1,270 EUR
Bank Client Service Associate1,930 EUR
Bank Collector1,390 EUR
Bank Compliance Specialist3,490 EUR
Bank Manager7,920 EUR
Bank Operational Risk Manager7,550 EUR
Bank Operations Head8,010 EUR
Bank Operations Officer3,310 EUR
Bank Operations Specialist4,970 EUR
Bank Process Manager4,600 EUR
Bank Product Manager 5,120 EUR
Bank Programme Manager5,680 EUR
Bank Project Manager6,260 EUR
Bank Propositions Manager5,970 EUR
Bank Quantitative Analyst4,210 EUR
Bank Regional Manager8,050 EUR
Bank Regional Risk Officer4,120 EUR
Bank Relationship Manager5,930 EUR
Bank Relationship Officer2,820 EUR
Bank Sustainability Analyst4,800 EUR
Bank Teller1,360 EUR
Banker2,770 EUR
Banking Business Analyst4,230 EUR
Banking Business Development Officer2,500 EUR
Banking Business Planning Executive5,970 EUR
Banking Data Analyst4,950 EUR
Banking Product Manager4,940 EUR
Banking Reference Data Manager4,620 EUR
Banking Regulatory Compliance Officer5,100 EUR
Banking Risk Analyst4,270 EUR
Banking Technical Analyst2,130 EUR
Bankruptcy Coordinator2,970 EUR
Bill and Account Collector1,480 EUR
Blockchain Analyst3,620 EUR
Blockchain Architect4,220 EUR
Blockchain Auditor3,760 EUR
Blockchain Compliance Analyst3,900 EUR
Blockchain Consultant4,110 EUR
Blockchain Trade Facilitator3,300 EUR
Budget Analyst4,310 EUR
Capital Risk Manager7,700 EUR
Cards Marketing Manager5,180 EUR
Cash Management Manager7,010 EUR
Check Processing Manager5,210 EUR
Chief Blockchain Officer4,800 EUR
Commercial Vault Associate3,890 EUR
Corporate Banker2,890 EUR
Corporate Dealer4,390 EUR
Credit Analyst3,180 EUR
Credit and Collections Manager5,540 EUR
Credit Card Fraud Investigator4,270 EUR
Credit Portfolio Manager7,550 EUR
Credit Risk Analyst4,620 EUR
Credit Risk Associate4,590 EUR
Cryptocurrency Accountant2,650 EUR
Cryptocurrency Adviser5,170 EUR
Cryptocurrency Analyst3,890 EUR
Cryptocurrency Compliance Manager4,860 EUR
Cryptocurrency Trader4,370 EUR
Digital Banking Manager5,670 EUR
Digital Currency Analyst4,250 EUR
Direct Bank Sales Representative2,940 EUR
Exchange Control Consultant4,230 EUR
Executive Account Analyst4,150 EUR
Financial Bank Planning Consultant5,240 EUR
Financial Banking Analysis Manager6,170 EUR
Financial Banking Assistant2,010 EUR
Financial Banking Systems Manager5,770 EUR
Foreign Exchange Manager6,200 EUR
Fraud Analyst4,320 EUR
Fraud Detection Associate3,090 EUR
Fraud Detection Manager6,550 EUR
Fraud Detection Supervisor3,750 EUR
Internal Bank Audit Manager7,890 EUR
Internal Bank Auditor4,220 EUR
Internal Private Banker3,120 EUR
International Banking Manager8,100 EUR
Investment Banking Analyst6,000 EUR
Loan Analyst4,290 EUR
Loan Area Manager5,240 EUR
Loan Audit Team Leader4,900 EUR
Loan Branch Manager4,880 EUR
Loan Business Development Officer2,640 EUR
Loan Clerk1,400 EUR
Loan Collection and Recovery Manager4,800 EUR
Loan Collection Manager4,780 EUR
Loan Collector1,320 EUR
Loan Examiner1,760 EUR
Loan Officer1,530 EUR
Loan Processing Manager4,380 EUR
Loan Processor1,840 EUR
Loan Quality Assurance Auditor4,150 EUR
Loan Quality Assurance Manager4,640 EUR
Loan Quality Assurance Representative3,110 EUR
Loan Review Manager4,720 EUR
Loan Team Leader4,240 EUR
Loans Manager5,520 EUR
Mortgage Advisor2,930 EUR
Mortgage Collection Manager4,960 EUR
Mortgage Collector1,390 EUR
Mortgage Credit Analyst2,270 EUR
Mortgage Credit Manager4,800 EUR
Mortgage Development Manager5,530 EUR
Mortgage Document Reviewer1,890 EUR
Mortgage Funding Manager5,640 EUR
Mortgage Operations Manager7,000 EUR
Mortgage Payment Processing Clerk1,550 EUR
Mortgage Processing Manager4,540 EUR
Mortgage Processor1,790 EUR
Mortgage Quality Assurance Auditor4,040 EUR
Mortgage Quality Assurance Manager4,650 EUR
Mortgage Servicing Clerk1,390 EUR
Mortgage Servicing Manager4,440 EUR
Mortgage Underwriter1,750 EUR
Online Banking Manager6,920 EUR
Open Banking Strategist4,470 EUR
Payment Processing Clerk1,420 EUR
Personal Banker3,040 EUR
Personal Banking Advisor 3,050 EUR
Phone Banker2,080 EUR
Private Banker2,910 EUR
Reconciliation and Investigation Specialist3,380 EUR
Tax Officer2,480 EUR
Teller1,390 EUR
Trade Officer1,660 EUR
Trade Product Manager4,790 EUR
Trader2,020 EUR
Treasury Operations Officer3,530 EUR
Wealth Management Advisor6,200 EUR


Banking Jobs Pay Scale and Salaries in Italy

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

5% of people earn
4,050 EUR or more
10% of people earn
3,350 to 4,050 EUR
20% of people earn
1,820 EUR or less
65% of people earn
1,820 to 3,350 EUR
Minimum Salary
1,250 EUR
Median
3,620 EUR
Maximum
8,140 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 Italy range from 1,250 EUR (starting average salary) to 8,140 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 3,620 EUR, implying that half of the workforce in Italy 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 Italy earn less than 2,700 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,450 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 Italy. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,820 EUR to 3,350 EUR. Approximately 20% of salaries were below the 1,820 EUR mark, while 10% ranged from 3,350 EUR to 4,050 EUR. Only 5% of individuals earned a gross salary of 4,050 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 Italy 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 Italy, 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 Italy costs anywhere from 18,300 EUR to 54,900 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 / Italy

Salary comparison by gender Italy 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 Italy, the average difference between the salary of male and female employees is 6%.

Male
4,090 EUR
Female-5%
3,870 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Italy for all Careers

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

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

Professionals working in Banking in Italy 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 Italy 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.

Italy / All Professions

Annual Salary Increment Rate Italy
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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 Italy 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 / Italy

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Italy 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 / Italy


23 EUR per hour

The average hourly wage (pay per hour) in Banking in Italy is 23 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 Italy is 7 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
Bologna4,210 EUR
Catania4,140 EUR
Genova4,300 EUR
Milano4,620 EUR
Napoli4,540 EUR
Palermo4,380 EUR
Parma4,010 EUR
Rome4,700 EUR
Torino4,460 EUR
Trieste4,070 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 Italy is 5% on average across all career fields.

Private Sector
3,560 EUR
Public Sector+5%
3,750 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 Italy?

A good and competitive compensation would range anywhere between 3,620 EUR and 4,450 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 Italy ranges from 1,250 EUR to 2,700 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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