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Banking Average Salaries in Kenya 2019

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

125,783 KES per month
Average Monthly Salary
A person working in Banking in Kenya typically earns around 125,783 KES per month.
This is the average monthly salary including housing, transport, and other benefits.
Salaries differ drasticly between different Banking jobs. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Assistant Manager85,500 KES
ATM Service Technician150,000 KES
Banking Operations Department Manager372,500 KES
Banking Product Manager250,000 KES
Business Development Officer50,000 KES
Clerk40,000 KES
Credit Analyst57,500 KES
Credit and Collections Manager60,000 KES
Internal Audit Manager75,000 KES
Internal Auditor251,000 KES
Loan Branch Manager200,000 KES
Loan Business Development Officer199,932 KES
Loan Clerk35,000 KES
Loan Collector75,000 KES
Loan Processor740,000 KES
Loan Quality Assurance Manager50,000 KES
Operations Head56,000 KES
Payment Processing Clerk30,000 KES
Personal Banker58,000 KES
Private Banker332,500 KES
Regional Manager325,000 KES
Relationship Manager185,833 KES
Relationship Officer43,000 KES
Teller45,444 KES

Banking Jobs Salary Distribution in Kenya

25% of people earn
45,000 KES
or less
50% of people earn
58,000 KES
or less
75% of people earn
127,500 KES
or less
Minimum
21,000 KES
Median
58,000 KES
Maximum
740,000 KES

Abount These Figures: Salary Range, Median and Percentiles

The Banking salaries in Kenya range between 21,000 KES per month (minimum salary) to 740,000 KES per month (maximum salary).

The median salary is 58,000 KES per month, which means that half (50%) of people working in Banking are earning less than 58,000 KES while the other half are earning more than 58,000 KES. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 45,000 KES while 75% of them are earning more than 45,000 KES. Also from the diagram, 75% of people working in Banking are earning less than 127,500 KES while 25% are earning more than 127,500 KES.

What is the difference between the median and the average salary? What should you be looking at?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plently of room for improvement. If your wage is in between the average and median, then things can be a bit confusing. We have written a guide to explain all the different senarios. How to compare your salary

Banking Salary Forecast and Trend in Kenya

How do Banking salaries change over time? Listed below is a chart that shows the average salary in recent years.

2016201720182019
Average Salary 2016    =  
117,838 KES
Average Salary 2017    +3%  
121,137 KES
Average Salary 2018    +2%  
123,076 KES
Average Salary 2019    +2%  
125,783 KES
Percentage increase and decrease are relative to the previous value
Banking salaries in Kenya are rising in the year 2019 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continous increase in pay in 2020 and future years. These numbers differ slightly from industry to another.

Banking Hourly Average Wage in Kenya

645 KES per hour
Average Hourly Wage

The average hourly wage (pay per hour) in Kenya for Banking is 645 KES. This means that the average person in Kenya earns approximatly 645 KES for every worked hour.


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

The hourly wage is the salary paid in one working hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix 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 annual vacation allowance. The figures mentioned above are good approximation and they are considered to the be the standard.

Salary Comparison of Banking Jobs in Kenya

125,783 KES
145,371 KES
Average Salary
Banking
Average Salary
All Jobs
We compared Kenya salaries for Banking and All Jobs and we found that Banking salaries are 13% less than those of All Jobs.

Salary Comparison By City

CityAverage Salary
Eldoret42,000 KES
Nairobi136,140 KES
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