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Banking Average Salaries in Kuwait 2020

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

Average Monthly Salary
1,440 KWD
( 17,300 KWD yearly)


A person working in Banking in Kuwait typically earns around 1,440 KWD per month. Salaries range from 810 KWD (lowest average) to 2,660 KWD (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. 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
AML Analyst1,810 KWD
Assistant Bank Branch Manager1,670 KWD
Assistant Bank Manager1,920 KWD
ATM Manager1,830 KWD
ATM Service Technician890 KWD
Bank Accounts Analyst1,180 KWD
Bank Accounts Controller1,310 KWD
Bank Accounts Executive1,450 KWD
Bank Accounts Manager1,570 KWD
Bank Auditing Manager1,540 KWD
Bank Branch Manager1,890 KWD
Bank Clerk940 KWD
Bank Compliance Specialist1,350 KWD
Bank Manager2,720 KWD
Bank Operational Risk Manager1,960 KWD
Bank Operations Head2,110 KWD
Bank Operations Officer1,290 KWD
Bank Operations Specialist1,710 KWD
Bank Process Manager1,350 KWD
Bank Product Manager 1,400 KWD
Bank Programme Manager1,770 KWD
Bank Project Manager1,810 KWD
Bank Propositions Manager1,810 KWD
Bank Quantitative Analyst1,430 KWD
Bank Regional Manager2,030 KWD
Bank Regional Risk Officer1,390 KWD
Bank Relationship Manager1,700 KWD
Bank Relationship Officer1,240 KWD
Banker1,270 KWD
Banking Business Analyst1,450 KWD
Banking Business Development Officer1,190 KWD
Banking Business Planning Executive1,820 KWD
Banking Product Manager1,660 KWD
Banking Reference Data Manager1,630 KWD
Banking Risk Analyst1,420 KWD
Banking Technical Analyst1,190 KWD
Bankruptcy Coordinator1,550 KWD
Budget Analyst1,460 KWD
Cards Marketing Manager1,690 KWD
Cash Management Manager1,890 KWD
Check Processing Manager1,830 KWD
Commercial Vault Associate1,350 KWD
Corporate Dealer1,540 KWD
Credit Analyst1,690 KWD
Credit and Collections Manager1,660 KWD
Credit Card Fraud Investigator1,430 KWD
Credit Portfolio Manager2,130 KWD
Credit Risk Analyst1,690 KWD
Credit Risk Associate1,510 KWD
Direct Bank Sales Representative1,310 KWD
Financial Bank Planning Consultant1,660 KWD
Financial Banking Analysis Manager1,800 KWD
Financial Banking Assistant1,240 KWD
Financial Banking Systems Manager1,780 KWD
Foreign Exchange Manager1,700 KWD
Fraud Analyst1,510 KWD
Fraud Detection Associate1,430 KWD
Fraud Detection Manager1,910 KWD
Fraud Detection Supervisor1,460 KWD
Internal Bank Audit Manager1,920 KWD
Internal Bank Auditor1,430 KWD
International Banking Manager2,240 KWD
Loan Analyst1,440 KWD
Loan Area Manager1,600 KWD
Loan Audit Team Leader1,630 KWD
Loan Branch Manager1,640 KWD
Loan Business Development Officer1,410 KWD
Loan Clerk970 KWD
Loan Collection Manager1,540 KWD
Loan Collector870 KWD
Loan Examiner1,120 KWD
Loan Processing Manager1,400 KWD
Loan Processor1,320 KWD
Loan Quality Assurance Auditor1,380 KWD
Loan Quality Assurance Manager1,560 KWD
Loan Quality Assurance Representative1,260 KWD
Loan Review Manager1,450 KWD
Loan Team Leader1,470 KWD
Mortgage Advisor1,420 KWD
Mortgage Collection Manager1,610 KWD
Mortgage Collector1,010 KWD
Mortgage Credit Analyst1,190 KWD
Mortgage Credit Manager1,370 KWD
Mortgage Development Manager1,710 KWD
Mortgage Document Reviewer1,110 KWD
Mortgage Funding Manager1,800 KWD
Mortgage Operations Manager1,920 KWD
Mortgage Payment Processing Clerk1,020 KWD
Mortgage Processing Manager1,500 KWD
Mortgage Processor1,080 KWD
Mortgage Quality Assurance Auditor1,470 KWD
Mortgage Quality Assurance Manager1,410 KWD
Mortgage Servicing Clerk860 KWD
Mortgage Servicing Manager1,520 KWD
Mortgage Underwriter990 KWD
Online Banking Manager1,900 KWD
Payment Processing Clerk940 KWD
Personal Banker1,440 KWD
Personal Banking Advisor 1,410 KWD
Phone Banker1,230 KWD
Private Banker1,520 KWD
Reconciliation and Investigation Specialist1,280 KWD
Teller910 KWD
Trade Officer1,050 KWD
Trade Product Manager1,570 KWD
Trader1,150 KWD
Treasury Operations Officer1,300 KWD

Banking Jobs Salary Distribution in Kuwait

Median and salary distribution monthly Kuwait Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Kuwait range from 810 KWD per month (minimum average salary) to 2,660 KWD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 1,330 KWD per month, which means that half (50%) of people working in Banking are earning less than 1,330 KWD while the other half are earning more than 1,330 KWD. 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.

  • Percentiles

    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 960 KWD while 75% of them are earning more than 960 KWD. Also from the diagram, 75% of people working in Banking are earning less than 1,840 KWD while 25% are earning more than 1,840 KWD.

What is the difference between the median and the average salary?

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 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

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 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.

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.

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.

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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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 degrees levels across many jobs, below are our findings.

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.

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 cerificate 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 Kuwait costs anywhere from 6,370 Kuwaiti Dinar(s) to 19,100 Kuwaiti Dinar(s) 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Kuwait Banking
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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? Male employees earn 10% more than their female counterparts.

1,360 KWD
1,500 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
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Banking Average Annual Salary Increment Percentage in Kuwait

How much are annual salary increments in Kuwait for Banking professionals? How often do employees get salary raises?


Banking professionals in Kuwait are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kuwait 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.

Kuwait / All Professions

Annual Salary Increment Rate Kuwait
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The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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%.

Annual Increment Rate By Industry 2019

Information Technology

Listed above are the average annual increase rates for each industry in Kuwait for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Kuwait

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kuwait Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

44% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Kuwait
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Where can you get paid more, working for a private company or for the government? Public sector employees in Kuwait earn 10% more than their private sector counterparts.

Private Sector
1,240 KWD
Public Sector+10%
1,360 KWD
Percentage increase and decrease are relative to the previous value

Banking Salary Forecast and Trend in Kuwait

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

Salary trends and forecast monthly Kuwait Banking
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Average Salary 2016
1,330 KWD
Average Salary 2017+4%
1,370 KWD
Average Salary 2018+1%
1,390 KWD
Average Salary 2019+2%
1,410 KWD
Percentage increase and decrease are relative to the previous value

Banking salaries in Kuwait are rising in the year 2020 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 continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Banking Hourly Average Wage in Kuwait

8 KWD per hour

The average hourly wage (pay per hour) in Kuwait is 8 KWD. This means that the average person in Kuwait earns approximately 8 KWD for every worked hour.

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

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 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 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.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Kuwait
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The average salary for Banking is 13% more than that of All Jobs.

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