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Banking Average Salaries in Myanmar 2020

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


Average Monthly Salary
592,000 MMK
( 7,110,000 MMK yearly)

LOW
186,000
MMK
AVERAGE
592,000
MMK
HIGH
1,220,000
MMK

A person working in Banking in Myanmar typically earns around 592,000 MMK per month. Salaries range from 186,000 MMK (lowest average) to 1,220,000 MMK (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 Analyst852,000 MMK
Assistant Bank Branch Manager682,000 MMK
Assistant Bank Manager910,000 MMK
ATM Manager807,000 MMK
ATM Service Technician211,000 MMK
Bank Accounts Analyst315,000 MMK
Bank Accounts Controller415,000 MMK
Bank Accounts Executive584,000 MMK
Bank Accounts Manager711,000 MMK
Bank Auditing Manager714,000 MMK
Bank Branch Manager980,000 MMK
Bank Clerk195,000 MMK
Bank Compliance Specialist506,000 MMK
Bank Manager1,090,000 MMK
Bank Operational Risk Manager1,100,000 MMK
Bank Operations Head1,120,000 MMK
Bank Operations Officer452,000 MMK
Bank Operations Specialist718,000 MMK
Bank Process Manager635,000 MMK
Bank Product Manager 749,000 MMK
Bank Programme Manager744,000 MMK
Bank Project Manager872,000 MMK
Bank Propositions Manager799,000 MMK
Bank Quantitative Analyst599,000 MMK
Bank Regional Manager1,190,000 MMK
Bank Regional Risk Officer624,000 MMK
Bank Relationship Manager825,000 MMK
Bank Relationship Officer377,000 MMK
Banker394,000 MMK
Banking Business Analyst604,000 MMK
Banking Business Development Officer373,000 MMK
Banking Business Planning Executive878,000 MMK
Banking Product Manager723,000 MMK
Banking Reference Data Manager659,000 MMK
Banking Risk Analyst581,000 MMK
Banking Technical Analyst306,000 MMK
Bankruptcy Coordinator405,000 MMK
Budget Analyst590,000 MMK
Cards Marketing Manager743,000 MMK
Cash Management Manager1,090,000 MMK
Check Processing Manager767,000 MMK
Commercial Vault Associate558,000 MMK
Corporate Dealer601,000 MMK
Credit Analyst480,000 MMK
Credit and Collections Manager793,000 MMK
Credit Card Fraud Investigator637,000 MMK
Credit Portfolio Manager1,140,000 MMK
Credit Risk Analyst635,000 MMK
Credit Risk Associate660,000 MMK
Direct Bank Sales Representative415,000 MMK
Financial Bank Planning Consultant792,000 MMK
Financial Banking Analysis Manager858,000 MMK
Financial Banking Assistant292,000 MMK
Financial Banking Systems Manager791,000 MMK
Foreign Exchange Manager888,000 MMK
Fraud Analyst614,000 MMK
Fraud Detection Associate417,000 MMK
Fraud Detection Manager931,000 MMK
Fraud Detection Supervisor529,000 MMK
Internal Bank Audit Manager1,100,000 MMK
Internal Bank Auditor555,000 MMK
International Banking Manager1,230,000 MMK
Loan Analyst609,000 MMK
Loan Area Manager713,000 MMK
Loan Audit Team Leader667,000 MMK
Loan Branch Manager693,000 MMK
Loan Business Development Officer355,000 MMK
Loan Clerk217,000 MMK
Loan Collection Manager699,000 MMK
Loan Collector190,000 MMK
Loan Examiner266,000 MMK
Loan Processing Manager622,000 MMK
Loan Processor273,000 MMK
Loan Quality Assurance Auditor582,000 MMK
Loan Quality Assurance Manager679,000 MMK
Loan Quality Assurance Representative430,000 MMK
Loan Review Manager681,000 MMK
Loan Team Leader577,000 MMK
Mortgage Advisor417,000 MMK
Mortgage Collection Manager666,000 MMK
Mortgage Collector195,000 MMK
Mortgage Credit Analyst301,000 MMK
Mortgage Credit Manager665,000 MMK
Mortgage Development Manager798,000 MMK
Mortgage Document Reviewer258,000 MMK
Mortgage Funding Manager804,000 MMK
Mortgage Operations Manager1,010,000 MMK
Mortgage Payment Processing Clerk234,000 MMK
Mortgage Processing Manager675,000 MMK
Mortgage Processor278,000 MMK
Mortgage Quality Assurance Auditor576,000 MMK
Mortgage Quality Assurance Manager692,000 MMK
Mortgage Servicing Clerk204,000 MMK
Mortgage Servicing Manager680,000 MMK
Mortgage Underwriter245,000 MMK
Online Banking Manager992,000 MMK
Payment Processing Clerk212,000 MMK
Personal Banker424,000 MMK
Personal Banking Advisor 431,000 MMK
Phone Banker290,000 MMK
Private Banker411,000 MMK
Reconciliation and Investigation Specialist475,000 MMK
Teller203,000 MMK
Trade Officer251,000 MMK
Trade Product Manager683,000 MMK
Trader300,000 MMK
Treasury Operations Officer527,000 MMK

Banking Jobs Salary Distribution in Myanmar

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

  • Salary Range

    Banking salaries in Myanmar range from 186,000 MMK per month (minimum average salary) to 1,220,000 MMK per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 616,000 MMK per month, which means that half (50%) of people working in Banking are earning less than 616,000 MMK while the other half are earning more than 616,000 MMK. 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 361,000 MMK while 75% of them are earning more than 361,000 MMK. Also from the diagram, 75% of people working in Banking are earning less than 952,000 MMK while 25% are earning more than 952,000 MMK.


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 Myanmar costs anywhere from 2,720,000 Kyat(s) to 8,170,000 Kyat(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 Myanmar 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 in Myanmar who work in Banking earn 10% more than their female counterparts on average.

Male
631,000 MMK
Female-9%
575,000 MMK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Myanmar for all Careers

Salary comparison by gender monthly Myanmar
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Banking Average Annual Salary Increment Percentage in Myanmar

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

Banking

Banking professionals in Myanmar are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Myanmar 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.

Myanmar / All Professions

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 Myanmar is 5%.

Annual Increment Rate By Industry 2019

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Myanmar 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 Myanmar

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Myanmar 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.

23% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 77% 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.

Received Bonus
77%
No Bonus
23%

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.

Banking Hourly Average Wage in Myanmar


3,420 MMK per hour

The average hourly wage (pay per hour) in Myanmar is 3,420 MMK. This means that the average person in Myanmar earns approximately 3,420 MMK 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 Myanmar
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Yangon626,000 MMK

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Myanmar earn 12% more than their private sector counterparts on average across all sectors.

Private Sector
515,000 MMK
Public Sector+12%
577,000 MMK
Percentage increase and decrease are relative to the previous value

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