A person working in Banking in Morocco typically earns around 27,300 MAD per month. Salaries range from 15,400 MAD (lowest average) to 50,400 MAD (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.
|Job Title||Average Salary|
|AML Analyst||33,900 MAD|
|Assistant Bank Branch Manager||28,800 MAD|
|Assistant Bank Manager||33,600 MAD|
|ATM Manager||33,100 MAD|
|ATM Service Technician||16,500 MAD|
|Bank Accounts Analyst||23,200 MAD|
|Bank Accounts Controller||25,500 MAD|
|Bank Accounts Executive||26,200 MAD|
|Bank Accounts Manager||29,300 MAD|
|Bank Auditing Manager||29,500 MAD|
|Bank Branch Manager||35,000 MAD|
|Bank Clerk||17,500 MAD|
|Bank Compliance Specialist||23,600 MAD|
|Bank Manager||51,800 MAD|
|Bank Operational Risk Manager||35,600 MAD|
|Bank Operations Head||41,800 MAD|
|Bank Operations Officer||24,100 MAD|
|Bank Operations Specialist||30,300 MAD|
|Bank Process Manager||24,800 MAD|
|Bank Product Manager||25,900 MAD|
|Bank Programme Manager||30,500 MAD|
|Bank Project Manager||32,500 MAD|
|Bank Propositions Manager||32,400 MAD|
|Bank Quantitative Analyst||24,900 MAD|
|Bank Regional Manager||35,200 MAD|
|Bank Regional Risk Officer||25,100 MAD|
|Bank Relationship Manager||30,400 MAD|
|Bank Relationship Officer||23,400 MAD|
|Banking Business Analyst||26,600 MAD|
|Banking Business Development Officer||22,500 MAD|
|Banking Business Planning Executive||33,700 MAD|
|Banking Product Manager||30,200 MAD|
|Banking Reference Data Manager||29,400 MAD|
|Banking Risk Analyst||25,200 MAD|
|Banking Technical Analyst||21,900 MAD|
|Bankruptcy Coordinator||28,400 MAD|
|Budget Analyst||26,000 MAD|
|Cards Marketing Manager||33,100 MAD|
|Cash Management Manager||36,900 MAD|
|Check Processing Manager||33,200 MAD|
|Commercial Vault Associate||26,000 MAD|
|Corporate Dealer||28,400 MAD|
|Credit Analyst||30,500 MAD|
|Credit and Collections Manager||31,000 MAD|
|Credit Card Fraud Investigator||27,600 MAD|
|Credit Portfolio Manager||38,500 MAD|
|Credit Risk Analyst||30,500 MAD|
|Credit Risk Associate||28,700 MAD|
|Direct Bank Sales Representative||23,500 MAD|
|Financial Bank Planning Consultant||29,900 MAD|
|Financial Banking Analysis Manager||31,000 MAD|
|Financial Banking Assistant||22,100 MAD|
|Financial Banking Systems Manager||32,800 MAD|
|Foreign Exchange Manager||32,300 MAD|
|Fraud Analyst||28,200 MAD|
|Fraud Detection Associate||27,900 MAD|
|Fraud Detection Manager||32,700 MAD|
|Fraud Detection Supervisor||26,700 MAD|
|Internal Bank Audit Manager||33,800 MAD|
|Internal Bank Auditor||25,900 MAD|
|International Banking Manager||41,900 MAD|
|Loan Analyst||26,400 MAD|
|Loan Area Manager||28,400 MAD|
|Loan Audit Team Leader||28,900 MAD|
|Loan Branch Manager||30,000 MAD|
|Loan Business Development Officer||24,100 MAD|
|Loan Clerk||18,900 MAD|
|Loan Collection Manager||27,900 MAD|
|Loan Collector||16,900 MAD|
|Loan Examiner||20,100 MAD|
|Loan Processing Manager||26,000 MAD|
|Loan Processor||22,900 MAD|
|Loan Quality Assurance Auditor||27,400 MAD|
|Loan Quality Assurance Manager||28,800 MAD|
|Loan Quality Assurance Representative||24,100 MAD|
|Loan Review Manager||25,700 MAD|
|Loan Team Leader||26,900 MAD|
|Mortgage Advisor||24,300 MAD|
|Mortgage Collection Manager||28,500 MAD|
|Mortgage Collector||18,500 MAD|
|Mortgage Credit Analyst||22,300 MAD|
|Mortgage Credit Manager||26,500 MAD|
|Mortgage Development Manager||31,000 MAD|
|Mortgage Document Reviewer||20,700 MAD|
|Mortgage Funding Manager||31,400 MAD|
|Mortgage Operations Manager||35,300 MAD|
|Mortgage Payment Processing Clerk||17,400 MAD|
|Mortgage Processing Manager||29,700 MAD|
|Mortgage Processor||20,100 MAD|
|Mortgage Quality Assurance Auditor||26,100 MAD|
|Mortgage Quality Assurance Manager||25,800 MAD|
|Mortgage Servicing Clerk||16,400 MAD|
|Mortgage Servicing Manager||27,100 MAD|
|Mortgage Underwriter||18,700 MAD|
|Online Banking Manager||36,600 MAD|
|Payment Processing Clerk||16,900 MAD|
|Personal Banker||26,200 MAD|
|Personal Banking Advisor||25,300 MAD|
|Phone Banker||21,600 MAD|
|Private Banker||28,200 MAD|
|Reconciliation and Investigation Specialist||24,100 MAD|
|Trade Officer||18,000 MAD|
|Trade Product Manager||27,900 MAD|
|Treasury Operations Officer||24,600 MAD|
Banking salaries in Morocco range from 15,400 MAD per month (minimum average salary) to 50,400 MAD per month (maximum average salary, actual maximum is higher).
The median salary is 28,900 MAD per month, which means that half (50%) of people working in Banking are earning less than 28,900 MAD while the other half are earning more than 28,900 MAD. 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 19,900 MAD while 75% of them are earning more than 19,900 MAD. Also from the diagram, 75% of people working in Banking are earning less than 42,000 MAD while 25% are earning more than 42,000 MAD.
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
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.
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.
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.
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.
A Master's degree program or any post-graduate program in Morocco costs anywhere from 121,000 Moroccan Dirham(s) to 362,000 Moroccan Dirham(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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees earn 22% more than their female counterparts.
Banking professionals in Morocco are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
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.
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
Listed above are the average annual increase rates for each industry in Morocco 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.
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.
20% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 80% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
Where can you get paid more, working for a private company or for the government? Public sector employees in Morocco earn 8% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+3%|
|Average Salary 2019||+3%|
Banking salaries in Morocco are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% 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.
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.
The average salary for Banking is 13% more than that of All Jobs.