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Bank Quantitative Analyst Average Salary in Monaco 2024

How much money does a person working as Bank Quantitative Analyst make in Monaco?


Average Monthly Salary
4,340 EUR
( 52,100 EUR yearly)

LOW
2,300
EUR
AVERAGE
4,340
EUR
HIGH
6,600
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 as Bank Quantitative Analyst in Monaco typically earns around 4,340 EUR. Salaries range from 2,300 EUR (lowest) to 6,600 EUR (highest).


Salary Variance

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



Bank Quantitative Analyst Pay Scale and Salaries in Monaco

Median and salary distribution Monaco Bank Quantitative Analyst monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
3,900 EUR or more
10% of people earn
3,480 to 3,900 EUR
20% of people earn
2,570 EUR or less
65% of people earn
2,570 to 3,480 EUR
Minimum Salary
2,300 EUR
Median
3,920 EUR
Maximum
6,600 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 for the position Bank Quantitative Analyst in Monaco range from 2,300 EUR (starting salary) to 6,600 EUR (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 3,920 EUR, half of the professionals who work as Bank Quantitative Analyst in Monaco 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 Bank Quantitative Analyst in Monaco earn less than 3,260 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 4,430 EUR 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 Bank Quantitative Analyst in Monaco compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 2,570 EUR to 3,480 EUR. About 20% of salaries are below the 2,570 EUR mark, while 10% fall within the range of 3,480 EUR to 3,900 EUR. Only 5% of individuals have salaries exceeding 3,900 EUR.

Salary Comparison by Years of Experience / Bank Quantitative Analyst / Monaco

How do experience and age affect pay?

0 - 2 Years
2,650 EUR
2 - 5 Years+23%
3,250 EUR
5 - 10 Years+42%
4,600 EUR
10 - 15 Years+17%
5,380 EUR
15 - 20 Years+10%
5,910 EUR
20+ Years+6%
6,260 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Monaco Bank Quantitative Analyst
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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. We broke down salaries by experience level for people working as Bank Quantitative 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 2,650 EUR.

While someone with an experience level between two and five years is expected to earn 3,250 EUR, 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 4,600 EUR, 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 5,380 EUR, 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 5,910 EUR, 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 6,260 EUR, 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
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Salary Comparison By Education / Bank Quantitative Analyst / Monaco

How do education levels affect salaries?

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

Bachelor's Degree
2,990 EUR
Master's Degree+93%
5,790 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Monaco Bank Quantitative Analyst
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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 Bank Quantitative Analyst in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 2,990 EUR.


Level 2: Master's Degree

At this level, the average salary becomes 5,790 EUR, 93% 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 Monaco costs anywhere from 21,300 EUR to 63,800 EUR 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
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Salary and Compensation Comparison By Gender / Bank Quantitative Analyst / Monaco

Salary comparison by gender Monaco Bank Quantitative Analyst 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? For the people who work as Bank Quantitative Analyst in Monaco, the average difference between the salary of male and female employees is 14%.

Male
4,560 EUR
Female-12%
4,000 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Monaco for all Careers

Salary comparison by gender monthly Monaco
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Average Annual Salary Increment Percentage / Bank Quantitative Analyst / Monaco

How much are annual salary increments in Monaco for individuals working as Bank Quantitative Analyst? How often do employees get salary raises?

Individuals working as Bank Quantitative Analyst in Monaco are likely to observe a salary increase of approximately 9% every 27 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco Bank Quantitative Analyst
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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.

Monaco / All Professions

Annual Salary Increment Rate Monaco
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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 Monaco is 2%.

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 / Bank Quantitative Analyst / Monaco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Monaco Bank Quantitative Analyst
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41% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 59% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
59%
No Bonus
41%

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 / Bank Quantitative Analyst / Monaco


25 EUR per hour

The average hourly wage (pay per hour) for individuals working as Bank Quantitative Analyst in Monaco is 25 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 as Bank Quantitative Analyst in Monaco is 13 EUR. 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 Analyst6,210 EUR+43%
Assistant Bank Branch Manager5,310 EUR+22%
Assistant Bank Manager7,250 EUR+67%
ATM Manager5,820 EUR+34%
ATM Service Technician1,900 EUR-56%
Bank Accounts Analyst2,680 EUR-38%
Bank Accounts Collector1,730 EUR-60%
Bank Accounts Controller3,220 EUR-26%
Bank Accounts Executive4,820 EUR+11%
Bank Accounts Manager5,230 EUR+20%
Bank Auditing Manager5,660 EUR+30%
Bank Branch Manager7,560 EUR+74%
Bank Branch Operations Coordinator3,540 EUR-18%
Bank Clerk1,700 EUR-61%
Bank Client Service Associate2,160 EUR-50%
Bank Collector1,650 EUR-62%
Bank Compliance Specialist3,860 EUR-11%
Bank Manager8,980 EUR+110%
Bank Operational Risk Manager8,610 EUR+98%
Bank Operations Head8,430 EUR+94%
Bank Operations Officer3,710 EUR-15%
Bank Operations Specialist5,420 EUR+25%
Bank Process Manager4,770 EUR+10%
Bank Product Manager 5,710 EUR+31%
Bank Programme Manager5,770 EUR+33%
Bank Project Manager6,970 EUR+60%
Bank Propositions Manager6,550 EUR+51%
Bank Quantitative Analyst4,340 EUR-0%
Bank Regional Manager8,550 EUR+97%
Bank Regional Risk Officer4,680 EUR+8%
Bank Relationship Manager6,620 EUR+52%
Bank Relationship Officer3,030 EUR-30%
Bank Sustainability Analyst5,060 EUR+17%
Bank Teller1,850 EUR-57%
Banker3,190 EUR-27%
Banking Business Analyst4,680 EUR+8%
Banking Business Development Officer3,000 EUR-31%
Banking Business Planning Executive6,310 EUR+45%
Banking Data Analyst5,410 EUR+25%
Banking Product Manager5,740 EUR+32%
Banking Reference Data Manager4,810 EUR+11%
Banking Regulatory Compliance Officer5,230 EUR+20%
Banking Risk Analyst4,790 EUR+10%
Banking Technical Analyst2,650 EUR-39%
Bankruptcy Coordinator3,490 EUR-20%
Bill and Account Collector1,860 EUR-57%
Blockchain Analyst4,150 EUR-4%
Blockchain Architect4,500 EUR+4%
Blockchain Auditor4,200 EUR-3%
Blockchain Compliance Analyst4,080 EUR-6%
Blockchain Consultant4,440 EUR+2%
Blockchain Trade Facilitator3,930 EUR-10%
Budget Analyst4,620 EUR+6%
Capital Risk Manager8,510 EUR+96%
Cards Marketing Manager5,880 EUR+35%
Cash Management Manager8,160 EUR+88%
Check Processing Manager5,770 EUR+33%
Chief Blockchain Officer5,160 EUR+19%
Commercial Vault Associate4,680 EUR+8%
Corporate Banker3,550 EUR-18%
Corporate Dealer4,770 EUR+10%
Credit Analyst3,680 EUR-15%
Credit and Collections Manager6,420 EUR+48%
Credit Card Fraud Investigator4,720 EUR+9%
Credit Portfolio Manager8,710 EUR+100%
Credit Risk Analyst4,970 EUR+14%
Credit Risk Associate4,940 EUR+14%
Cryptocurrency Accountant3,030 EUR-30%
Cryptocurrency Adviser5,830 EUR+34%
Cryptocurrency Analyst4,200 EUR-3%
Cryptocurrency Compliance Manager5,360 EUR+23%
Cryptocurrency Trader4,560 EUR+5%
Digital Banking Manager5,850 EUR+35%
Digital Currency Analyst4,410 EUR+2%
Direct Bank Sales Representative3,470 EUR-20%
Exchange Control Consultant4,750 EUR+9%
Executive Account Analyst4,720 EUR+9%
Financial Bank Planning Consultant5,870 EUR+35%
Financial Banking Analysis Manager6,760 EUR+56%
Financial Banking Assistant2,270 EUR-48%
Financial Banking Systems Manager6,180 EUR+42%
Foreign Exchange Manager6,870 EUR+58%
Fraud Analyst4,810 EUR+11%
Fraud Detection Associate3,370 EUR-22%
Fraud Detection Manager6,850 EUR+58%
Fraud Detection Supervisor4,170 EUR-4%
Internal Bank Audit Manager8,230 EUR+90%
Internal Bank Auditor4,710 EUR+8%
Internal Private Banker3,450 EUR-21%
International Banking Manager9,060 EUR+110%
Investment Banking Analyst6,740 EUR+55%
Loan Analyst4,520 EUR+4%
Loan Area Manager5,800 EUR+34%
Loan Audit Team Leader5,450 EUR+25%
Loan Branch Manager5,100 EUR+17%
Loan Business Development Officer3,020 EUR-30%
Loan Clerk1,790 EUR-59%
Loan Collection and Recovery Manager5,250 EUR+21%
Loan Collection Manager5,570 EUR+28%
Loan Collector1,720 EUR-60%
Loan Examiner2,280 EUR-48%
Loan Officer1,910 EUR-56%
Loan Processing Manager4,870 EUR+12%
Loan Processor2,310 EUR-47%
Loan Quality Assurance Auditor4,520 EUR+4%
Loan Quality Assurance Manager5,210 EUR+20%
Loan Quality Assurance Representative3,720 EUR-14%
Loan Review Manager5,150 EUR+19%
Loan Team Leader4,830 EUR+11%
Loans Manager6,250 EUR+44%
Mortgage Advisor3,230 EUR-26%
Mortgage Collection Manager5,470 EUR+26%
Mortgage Collector1,650 EUR-62%
Mortgage Credit Analyst2,610 EUR-40%
Mortgage Credit Manager5,360 EUR+23%
Mortgage Development Manager5,760 EUR+33%
Mortgage Document Reviewer2,250 EUR-48%
Mortgage Funding Manager5,720 EUR+32%
Mortgage Operations Manager7,630 EUR+76%
Mortgage Payment Processing Clerk2,000 EUR-54%
Mortgage Processing Manager5,320 EUR+22%
Mortgage Processor2,150 EUR-50%
Mortgage Quality Assurance Auditor4,410 EUR+2%
Mortgage Quality Assurance Manager5,230 EUR+20%
Mortgage Servicing Clerk1,800 EUR-59%
Mortgage Servicing Manager5,270 EUR+21%
Mortgage Underwriter2,240 EUR-48%
Online Banking Manager8,080 EUR+86%
Open Banking Strategist4,620 EUR+6%
Payment Processing Clerk1,800 EUR-59%
Personal Banker3,420 EUR-21%
Personal Banking Advisor 3,590 EUR-17%
Phone Banker2,400 EUR-45%
Private Banker3,490 EUR-20%
Reconciliation and Investigation Specialist4,030 EUR-7%
Tax Officer2,980 EUR-31%
Teller1,860 EUR-57%
Trade Officer2,120 EUR-51%
Trade Product Manager5,180 EUR+19%
Trader2,440 EUR-44%
Treasury Operations Officer4,110 EUR-5%
Wealth Management Advisor6,470 EUR+49%

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 Monaco is 10% on average across all career fields.

Private Sector
4,130 EUR
Public Sector+10%
4,550 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 for the job title Bank Quantitative Analyst in Monaco?

A good and competitive compensation would range anywhere between 3,920 EUR and 4,430 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 a careers like Bank Quantitative Analyst in Monaco ranges from 2,300 EUR to 3,260 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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