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
|Assistant Manager||85,500 KES|
|ATM Service Technician||150,000 KES|
|Banking Operations Department Manager||372,500 KES|
|Banking Product Manager||250,000 KES|
|Business Development Officer||50,000 KES|
|Credit Analyst||57,500 KES|
|Credit and Collections Manager||60,000 KES|
|Internal Audit Manager||75,000 KES|
|Internal Auditor||251,000 KES|
|Loan Branch Manager||200,000 KES|
|Loan Business Development Officer||199,932 KES|
|Loan Clerk||35,000 KES|
|Loan Collector||75,000 KES|
|Loan Processor||740,000 KES|
|Loan Quality Assurance Manager||50,000 KES|
|Operations Head||56,000 KES|
|Payment Processing Clerk||30,000 KES|
|Personal Banker||58,000 KES|
|Private Banker||332,500 KES|
|Regional Manager||325,000 KES|
|Relationship Manager||185,833 KES|
|Relationship Officer||43,000 KES|
Banking Jobs Salary Distribution in Kenya
25% of people earn
50% of people earn
75% of people earn
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.
|Average Salary 2016|| = |
|Average Salary 2017|| +3% |
|Average Salary 2018|| +2% |
|Average Salary 2019|| +2% |
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
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