HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Credit Analyst Average Salary in Kuwait 2024

How much money does a person working as Credit Analyst make in Kuwait?


Average Monthly Salary
1,160 KWD
( 13,900 KWD yearly)

LOW
610
KWD
AVERAGE
1,160
KWD
HIGH
1,760
KWD
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 as Credit Analyst in Kuwait typically earns around 1,160 KWD. Salaries range from 610 KWD (lowest) to 1,760 KWD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Credit Analyst salaries in Kuwait vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Credit Analyst Pay Scale and Salaries in Kuwait

Median and salary distribution Kuwait Credit Analyst monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/median-and-salary-distribution-monthly-kuwait-credit-analyst.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
1,040 KWD or more
10% of people earn
930 to 1,040 KWD
20% of people earn
680 KWD or less
65% of people earn
680 to 930 KWD
Minimum Salary
610 KWD
Median
1,040 KWD
Maximum
1,760 KWD




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 for the position Credit Analyst in Kuwait range from 610 KWD (starting salary) to 1,760 KWD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 1,040 KWD, half of the professionals who work as Credit Analyst in Kuwait earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Credit Analyst in Kuwait earn less than 870 KWD, while 75% earn more. Similarly, the chart shows that 75% earn less than 1,180 KWD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Credit Analyst in Kuwait compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 680 KWD to 930 KWD. About 20% of salaries are below the 680 KWD mark, while 10% fall within the range of 930 KWD to 1,040 KWD. Only 5% of individuals have salaries exceeding 1,040 KWD.

Salary Comparison by Years of Experience / Credit Analyst / Kuwait

How do experience and age affect pay?

0 - 2 Years
700 KWD
2 - 5 Years+23%
860 KWD
5 - 10 Years+42%
1,220 KWD
10 - 15 Years+17%
1,430 KWD
15 - 20 Years+10%
1,570 KWD
20+ Years+6%
1,660 KWD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Kuwait Credit Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/salary-comparison-by-years-of-experience-monthly-kuwait-credit-analyst.jpg

The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Credit Analyst and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 700 KWD.

While someone with an experience level between two and five years is expected to earn 860 KWD, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 1,220 KWD, 42% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 1,430 KWD, 17% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 1,570 KWD, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 1,660 KWD, 6% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Salary Comparison By Education / Credit Analyst / Kuwait

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Credit Analyst.

Bachelor's Degree
800 KWD
Master's Degree+94%
1,540 KWD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Kuwait Credit Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/salary-comparison-by-education-level-monthly-kuwait-credit-analyst.jpg

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Credit Analyst in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 800 KWD.


Level 2: Master's Degree

At this level, the average salary becomes 1,540 KWD, 94% more than the previous level.



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 Kuwait costs anywhere from 6,350 KWD to 19,000 KWD and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you 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 the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Salary and Compensation Comparison By Gender / Credit Analyst / Kuwait

Salary comparison by gender Kuwait Credit Analyst monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/salary-comparison-by-gender-monthly-kuwait-credit-analyst.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Credit Analyst in Kuwait, the average difference between the salary of male and female employees is 12%.

Male
1,210 KWD
Female-10%
1,080 KWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Kuwait for all Careers

Salary comparison by gender monthly Kuwait
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/salary-comparison-by-gender-monthly-kuwait.jpg


Average Annual Salary Increment Percentage / Credit Analyst / Kuwait

How much are annual salary increments in Kuwait for individuals working as Credit Analyst? How often do employees get salary raises?

Individuals working as Credit Analyst in Kuwait are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kuwait Credit Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/annual-salary-increment-rate-kuwait-credit-analyst.jpg


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.

Kuwait / All Professions

Annual Salary Increment Rate Kuwait
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/annual-salary-increment-rate-kuwait.jpg

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 Kuwait is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

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 / Credit Analyst / Kuwait

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kuwait Credit Analyst
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/banking/credit-analyst/annual-salary-bonus-rate-kuwait-credit-analyst.jpg

66% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 34% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.

Received Bonus
34%
No Bonus
66%

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.

Average Hourly Wage / Credit Analyst / Kuwait


7 KWD per hour

The average hourly wage (pay per hour) for individuals working as Credit Analyst in Kuwait is 7 KWD.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 as Credit Analyst in Kuwait is 4 KWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Banking-100%
AML Analyst2,040 KWD+77%
Assistant Bank Branch Manager1,750 KWD+52%
Assistant Bank Manager2,330 KWD+100%
ATM Manager2,000 KWD+73%
ATM Service Technician510 KWD-56%
Bank Accounts Analyst740 KWD-36%
Bank Accounts Collector480 KWD-58%
Bank Accounts Controller960 KWD-17%
Bank Accounts Executive1,450 KWD+26%
Bank Accounts Manager1,700 KWD+47%
Bank Auditing Manager1,650 KWD+43%
Bank Branch Manager2,350 KWD+100%
Bank Branch Operations Coordinator1,030 KWD-11%
Bank Clerk450 KWD-61%
Bank Client Service Associate660 KWD-43%
Bank Collector490 KWD-58%
Bank Compliance Specialist1,260 KWD+9%
Bank Manager2,690 KWD+130%
Bank Operational Risk Manager2,610 KWD+130%
Bank Operations Head2,660 KWD+130%
Bank Operations Officer1,110 KWD-4%
Bank Operations Specialist1,710 KWD+48%
Bank Process Manager1,500 KWD+30%
Bank Product Manager 1,720 KWD+49%
Bank Programme Manager1,910 KWD+65%
Bank Project Manager2,260 KWD+96%
Bank Propositions Manager2,010 KWD+74%
Bank Quantitative Analyst1,430 KWD+24%
Bank Regional Manager2,870 KWD+150%
Bank Regional Risk Officer1,500 KWD+30%
Bank Relationship Manager2,140 KWD+85%
Bank Relationship Officer940 KWD-19%
Bank Sustainability Analyst1,560 KWD+35%
Bank Teller480 KWD-58%
Banker1,000 KWD-13%
Banking Business Analyst1,450 KWD+26%
Banking Business Development Officer870 KWD-25%
Banking Business Planning Executive2,050 KWD+77%
Banking Data Analyst1,630 KWD+41%
Banking Product Manager1,710 KWD+48%
Banking Reference Data Manager1,630 KWD+41%
Banking Regulatory Compliance Officer1,700 KWD+47%
Banking Risk Analyst1,420 KWD+23%
Banking Technical Analyst750 KWD-35%
Bankruptcy Coordinator1,030 KWD-11%
Bill and Account Collector510 KWD-56%
Blockchain Analyst1,280 KWD+11%
Blockchain Architect1,360 KWD+18%
Blockchain Auditor1,230 KWD+6%
Blockchain Compliance Analyst1,290 KWD+12%
Blockchain Consultant1,370 KWD+19%
Blockchain Trade Facilitator1,160 KWD+0%
Budget Analyst1,460 KWD+26%
Capital Risk Manager2,780 KWD+140%
Cards Marketing Manager1,740 KWD+51%
Cash Management Manager2,450 KWD+110%
Check Processing Manager1,840 KWD+59%
Chief Blockchain Officer1,560 KWD+35%
Commercial Vault Associate1,350 KWD+17%
Corporate Banker1,010 KWD-13%
Corporate Dealer1,550 KWD+34%
Credit Analyst1,160 KWD+0%
Credit and Collections Manager1,840 KWD+59%
Credit Card Fraud Investigator1,430 KWD+24%
Credit Portfolio Manager2,700 KWD+130%
Credit Risk Analyst1,550 KWD+34%
Credit Risk Associate1,510 KWD+31%
Cryptocurrency Accountant910 KWD-21%
Cryptocurrency Adviser1,790 KWD+55%
Cryptocurrency Analyst1,360 KWD+18%
Cryptocurrency Compliance Manager1,720 KWD+49%
Cryptocurrency Trader1,410 KWD+22%
Digital Banking Manager1,980 KWD+71%
Digital Currency Analyst1,420 KWD+23%
Direct Bank Sales Representative1,000 KWD-13%
Exchange Control Consultant1,480 KWD+28%
Executive Account Analyst1,470 KWD+27%
Financial Bank Planning Consultant1,910 KWD+65%
Financial Banking Analysis Manager2,140 KWD+85%
Financial Banking Assistant700 KWD-39%
Financial Banking Systems Manager2,040 KWD+77%
Foreign Exchange Manager2,000 KWD+73%
Fraud Analyst1,560 KWD+35%
Fraud Detection Associate1,010 KWD-13%
Fraud Detection Manager2,290 KWD+98%
Fraud Detection Supervisor1,240 KWD+7%
Internal Bank Audit Manager2,650 KWD+130%
Internal Bank Auditor1,430 KWD+24%
Internal Private Banker1,040 KWD-10%
International Banking Manager2,780 KWD+140%
Investment Banking Analyst2,040 KWD+77%
Loan Analyst1,440 KWD+25%
Loan Area Manager1,740 KWD+51%
Loan Audit Team Leader1,630 KWD+41%
Loan Branch Manager1,640 KWD+42%
Loan Business Development Officer900 KWD-22%
Loan Clerk480 KWD-58%
Loan Collection and Recovery Manager1,680 KWD+45%
Loan Collection Manager1,660 KWD+44%
Loan Collector470 KWD-59%
Loan Examiner630 KWD-45%
Loan Officer540 KWD-53%
Loan Processing Manager1,580 KWD+37%
Loan Processor670 KWD-42%
Loan Quality Assurance Auditor1,380 KWD+19%
Loan Quality Assurance Manager1,560 KWD+35%
Loan Quality Assurance Representative1,060 KWD-8%
Loan Review Manager1,620 KWD+40%
Loan Team Leader1,470 KWD+27%
Loans Manager1,850 KWD+60%
Mortgage Advisor1,020 KWD-12%
Mortgage Collection Manager1,750 KWD+52%
Mortgage Collector450 KWD-61%
Mortgage Credit Analyst740 KWD-36%
Mortgage Credit Manager1,580 KWD+37%
Mortgage Development Manager1,840 KWD+59%
Mortgage Document Reviewer640 KWD-45%
Mortgage Funding Manager1,920 KWD+66%
Mortgage Operations Manager2,500 KWD+120%
Mortgage Payment Processing Clerk560 KWD-52%
Mortgage Processing Manager1,560 KWD+35%
Mortgage Processor620 KWD-46%
Mortgage Quality Assurance Auditor1,470 KWD+27%
Mortgage Quality Assurance Manager1,550 KWD+34%
Mortgage Servicing Clerk490 KWD-58%
Mortgage Servicing Manager1,570 KWD+36%
Mortgage Underwriter590 KWD-49%
Online Banking Manager2,400 KWD+110%
Open Banking Strategist1,490 KWD+29%
Payment Processing Clerk500 KWD-57%
Personal Banker1,060 KWD-8%
Personal Banking Advisor 1,040 KWD-10%
Phone Banker700 KWD-39%
Private Banker1,030 KWD-11%
Reconciliation and Investigation Specialist1,130 KWD-2%
Tax Officer830 KWD-28%
Teller510 KWD-56%
Trade Officer600 KWD-48%
Trade Product Manager1,740 KWD+51%
Trader670 KWD-42%
Treasury Operations Officer1,220 KWD+6%
Wealth Management Advisor2,000 KWD+73%

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 Kuwait is 10% on average across all career fields.

Private Sector
1,230 KWD
Public Sector+10%
1,360 KWD
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 for the job title Credit Analyst in Kuwait?

A good and competitive compensation would range anywhere between 1,040 KWD and 1,180 KWD. 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 a careers like Credit Analyst in Kuwait ranges from 610 KWD to 870 KWD. 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


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic

©Salary Explorer 2024