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Banking Average Salaries in Oman 2024

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


Average Monthly Salary
1,940 OMR
( 23,200 OMR yearly)

LOW
610
OMR
AVERAGE
1,940
OMR
HIGH
3,950
OMR
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 in Banking in Oman typically earns around 1,940 OMR. Salaries range from 610 OMR (lowest average) to 3,950 OMR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Oman exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst2,630 OMR
Assistant Bank Branch Manager2,340 OMR
Assistant Bank Manager3,150 OMR
ATM Manager2,570 OMR
ATM Service Technician680 OMR
Bank Accounts Analyst1,030 OMR
Bank Accounts Collector640 OMR
Bank Accounts Controller1,240 OMR
Bank Accounts Executive1,970 OMR
Bank Accounts Manager2,200 OMR
Bank Auditing Manager2,340 OMR
Bank Branch Manager3,000 OMR
Bank Branch Operations Coordinator1,410 OMR
Bank Clerk600 OMR
Bank Client Service Associate870 OMR
Bank Collector630 OMR
Bank Compliance Specialist1,580 OMR
Bank Manager3,630 OMR
Bank Operational Risk Manager3,590 OMR
Bank Operations Head3,610 OMR
Bank Operations Officer1,400 OMR
Bank Operations Specialist2,180 OMR
Bank Process Manager2,080 OMR
Bank Product Manager 2,450 OMR
Bank Programme Manager2,560 OMR
Bank Project Manager3,010 OMR
Bank Propositions Manager2,740 OMR
Bank Quantitative Analyst1,890 OMR
Bank Regional Manager3,650 OMR
Bank Regional Risk Officer1,980 OMR
Bank Relationship Manager2,850 OMR
Bank Relationship Officer1,270 OMR
Bank Sustainability Analyst2,130 OMR
Bank Teller630 OMR
Banker1,360 OMR
Banking Business Analyst1,930 OMR
Banking Business Development Officer1,210 OMR
Banking Business Planning Executive2,670 OMR
Banking Data Analyst2,100 OMR
Banking Product Manager2,350 OMR
Banking Reference Data Manager2,100 OMR
Banking Regulatory Compliance Officer2,300 OMR
Banking Risk Analyst1,960 OMR
Banking Technical Analyst1,010 OMR
Bankruptcy Coordinator1,380 OMR
Bill and Account Collector700 OMR
Blockchain Analyst1,680 OMR
Blockchain Architect1,880 OMR
Blockchain Auditor1,600 OMR
Blockchain Compliance Analyst1,760 OMR
Blockchain Consultant1,780 OMR
Blockchain Trade Facilitator1,570 OMR
Budget Analyst1,860 OMR
Capital Risk Manager3,700 OMR
Cards Marketing Manager2,420 OMR
Cash Management Manager3,260 OMR
Check Processing Manager2,570 OMR
Chief Blockchain Officer2,090 OMR
Commercial Vault Associate1,810 OMR
Corporate Banker1,340 OMR
Corporate Dealer1,910 OMR
Credit Analyst1,520 OMR
Credit and Collections Manager2,550 OMR
Credit Card Fraud Investigator1,880 OMR
Credit Portfolio Manager3,500 OMR
Credit Risk Analyst2,080 OMR
Credit Risk Associate1,990 OMR
Cryptocurrency Accountant1,160 OMR
Cryptocurrency Adviser2,410 OMR
Cryptocurrency Analyst1,740 OMR
Cryptocurrency Compliance Manager2,300 OMR
Cryptocurrency Trader1,980 OMR
Digital Banking Manager2,580 OMR
Digital Currency Analyst1,920 OMR
Direct Bank Sales Representative1,370 OMR
Exchange Control Consultant2,090 OMR
Executive Account Analyst1,930 OMR
Financial Bank Planning Consultant2,510 OMR
Financial Banking Analysis Manager2,930 OMR
Financial Banking Assistant920 OMR
Financial Banking Systems Manager2,520 OMR
Foreign Exchange Manager2,870 OMR
Fraud Analyst2,120 OMR
Fraud Detection Associate1,370 OMR
Fraud Detection Manager2,920 OMR
Fraud Detection Supervisor1,590 OMR
Internal Bank Audit Manager3,410 OMR
Internal Bank Auditor1,930 OMR
Internal Private Banker1,350 OMR
International Banking Manager3,940 OMR
Investment Banking Analyst2,800 OMR
Loan Analyst1,890 OMR
Loan Area Manager2,410 OMR
Loan Audit Team Leader2,250 OMR
Loan Branch Manager2,150 OMR
Loan Business Development Officer1,120 OMR
Loan Clerk700 OMR
Loan Collection and Recovery Manager2,190 OMR
Loan Collection Manager2,270 OMR
Loan Collector640 OMR
Loan Examiner820 OMR
Loan Officer750 OMR
Loan Processing Manager2,150 OMR
Loan Processor860 OMR
Loan Quality Assurance Auditor1,870 OMR
Loan Quality Assurance Manager2,220 OMR
Loan Quality Assurance Representative1,430 OMR
Loan Review Manager2,070 OMR
Loan Team Leader1,970 OMR
Loans Manager2,580 OMR
Mortgage Advisor1,310 OMR
Mortgage Collection Manager2,340 OMR
Mortgage Collector630 OMR
Mortgage Credit Analyst990 OMR
Mortgage Credit Manager2,210 OMR
Mortgage Development Manager2,450 OMR
Mortgage Document Reviewer800 OMR
Mortgage Funding Manager2,540 OMR
Mortgage Operations Manager3,440 OMR
Mortgage Payment Processing Clerk730 OMR
Mortgage Processing Manager2,160 OMR
Mortgage Processor820 OMR
Mortgage Quality Assurance Auditor1,820 OMR
Mortgage Quality Assurance Manager2,220 OMR
Mortgage Servicing Clerk670 OMR
Mortgage Servicing Manager2,060 OMR
Mortgage Underwriter800 OMR
Online Banking Manager3,220 OMR
Open Banking Strategist2,020 OMR
Payment Processing Clerk700 OMR
Personal Banker1,330 OMR
Personal Banking Advisor 1,430 OMR
Phone Banker900 OMR
Private Banker1,380 OMR
Reconciliation and Investigation Specialist1,550 OMR
Tax Officer1,160 OMR
Teller640 OMR
Trade Officer780 OMR
Trade Product Manager2,160 OMR
Trader970 OMR
Treasury Operations Officer1,710 OMR
Wealth Management Advisor2,760 OMR


Banking Jobs Pay Scale and Salaries in Oman

Median and salary distribution Oman Banking monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
1,920 OMR or more
10% of people earn
1,590 to 1,920 OMR
20% of people earn
860 OMR or less
65% of people earn
860 to 1,590 OMR
Minimum Salary
610 OMR
Median
1,720 OMR
Maximum
3,950 OMR




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 in Banking in Oman range from 610 OMR (starting average salary) to 3,950 OMR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 1,720 OMR, implying that half of the workforce in Oman earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Oman earn less than 1,280 OMR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 2,120 OMR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Oman. The analysis revealed that roughly 65% of all reported salaries fell within the range of 860 OMR to 1,590 OMR. Approximately 20% of salaries were below the 860 OMR mark, while 10% ranged from 1,590 OMR to 1,920 OMR. Only 5% of individuals earned a gross salary of 1,920 OMR or higher.

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 in Banking in Oman 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.


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.
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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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.

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 degree levels across many jobs in Banking in Oman, 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 certificate 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 Oman costs anywhere from 8,880 OMR to 26,600 OMR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / Oman

Salary comparison by gender Oman Banking 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? In the field of Banking in Oman, the average difference between the salary of male and female employees is 16%.

Male
2,090 OMR
Female-14%
1,800 OMR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Oman for all Careers

Salary comparison by gender monthly Oman
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Average Annual Salary Increment Percentage / Banking / Oman

How much are annual salary increments in Oman for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in Oman are likely to observe a salary increase of approximately 9% every 17 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.

Annual Salary Increment Rate Oman 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.

Oman / All Professions

Annual Salary Increment Rate Oman
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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 Oman is 4%.

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 / Banking / Oman

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Oman Banking
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26% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 74% 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
74%
No Bonus
26%

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.

Hourly Average Wage / Banking / Oman


11 OMR per hour

The average hourly wage (pay per hour) in Banking in Oman is 11 OMR.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 in Banking in Oman is 3 OMR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Muscat2,050 OMR
Salalah1,960 OMR

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 Oman is 7% on average across all career fields.

Private Sector
1,700 OMR
Public Sector+7%
1,830 OMR
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 in Banking in Oman?

A good and competitive compensation would range anywhere between 1,720 OMR and 2,120 OMR. 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 jobs in Banking in Oman ranges from 610 OMR to 1,280 OMR. 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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