Banking Average Salaries in Romania 2020
How much money does a person working in Banking make in Romania?
LOW
3,070
RON AVERAGE
9,910
RON HIGH
20,000
RON
A person working in Banking in Romania typically earns around 9,910 RON per month. Salaries range from 3,070 RON (lowest average) to 20,000 RON (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 Title | Average Salary |
| AML Analyst | 14,000 RON |
| Assistant Bank Branch Manager | 11,400 RON |
| Assistant Bank Manager | 15,500 RON |
| ATM Manager | 12,800 RON |
| ATM Service Technician | 3,450 RON |
| Bank Accounts Analyst | 5,240 RON |
| Bank Accounts Controller | 6,450 RON |
| Bank Accounts Executive | 9,350 RON |
| Bank Accounts Manager | 11,700 RON |
| Bank Auditing Manager | 10,900 RON |
| Bank Branch Manager | 15,800 RON |
| Bank Clerk | 2,880 RON |
| Bank Compliance Specialist | 8,520 RON |
| Bank Manager | 18,800 RON |
| Bank Operational Risk Manager | 18,200 RON |
| Bank Operations Head | 18,100 RON |
| Bank Operations Officer | 7,530 RON |
| Bank Operations Specialist | 11,500 RON |
| Bank Process Manager | 10,700 RON |
| Bank Product Manager | 11,300 RON |
| Bank Programme Manager | 12,400 RON |
| Bank Project Manager | 14,700 RON |
| Bank Propositions Manager | 13,300 RON |
| Bank Quantitative Analyst | 9,320 RON |
| Bank Regional Manager | 19,400 RON |
| Bank Regional Risk Officer | 9,790 RON |
| Bank Relationship Manager | 13,900 RON |
| Bank Relationship Officer | 6,090 RON |
| Banker | 6,630 RON |
| Banking Business Analyst | 9,670 RON |
| Banking Business Development Officer | 6,150 RON |
| Banking Business Planning Executive | 14,100 RON |
| Banking Product Manager | 11,900 RON |
| Banking Reference Data Manager | 10,400 RON |
| Banking Risk Analyst | 9,390 RON |
| Banking Technical Analyst | 5,200 RON |
| Bankruptcy Coordinator | 6,680 RON |
| Budget Analyst | 9,160 RON |
| Cards Marketing Manager | 12,400 RON |
| Cash Management Manager | 16,800 RON |
| Check Processing Manager | 12,200 RON |
| Commercial Vault Associate | 9,210 RON |
| Corporate Dealer | 9,520 RON |
| Credit Analyst | 7,540 RON |
| Credit and Collections Manager | 12,800 RON |
| Credit Card Fraud Investigator | 9,600 RON |
| Credit Portfolio Manager | 18,600 RON |
| Credit Risk Analyst | 10,600 RON |
| Credit Risk Associate | 10,400 RON |
| Direct Bank Sales Representative | 6,440 RON |
| Financial Bank Planning Consultant | 12,400 RON |
| Financial Banking Analysis Manager | 14,200 RON |
| Financial Banking Assistant | 4,490 RON |
| Financial Banking Systems Manager | 12,500 RON |
| Foreign Exchange Manager | 14,500 RON |
| Fraud Analyst | 10,300 RON |
| Fraud Detection Associate | 7,030 RON |
| Fraud Detection Manager | 14,300 RON |
| Fraud Detection Supervisor | 8,300 RON |
| Internal Bank Audit Manager | 16,600 RON |
| Internal Bank Auditor | 9,530 RON |
| International Banking Manager | 19,700 RON |
| Loan Analyst | 9,180 RON |
| Loan Area Manager | 11,500 RON |
| Loan Audit Team Leader | 10,800 RON |
| Loan Branch Manager | 10,400 RON |
| Loan Business Development Officer | 5,510 RON |
| Loan Clerk | 3,480 RON |
| Loan Collection Manager | 11,500 RON |
| Loan Collector | 3,010 RON |
| Loan Examiner | 4,330 RON |
| Loan Processing Manager | 10,500 RON |
| Loan Processor | 4,280 RON |
| Loan Quality Assurance Auditor | 9,410 RON |
| Loan Quality Assurance Manager | 10,200 RON |
| Loan Quality Assurance Representative | 7,380 RON |
| Loan Review Manager | 10,900 RON |
| Loan Team Leader | 9,530 RON |
| Mortgage Advisor | 6,400 RON |
| Mortgage Collection Manager | 11,700 RON |
| Mortgage Collector | 3,190 RON |
| Mortgage Credit Analyst | 5,070 RON |
| Mortgage Credit Manager | 10,400 RON |
| Mortgage Development Manager | 11,700 RON |
| Mortgage Document Reviewer | 4,300 RON |
| Mortgage Funding Manager | 12,500 RON |
| Mortgage Operations Manager | 16,500 RON |
| Mortgage Payment Processing Clerk | 3,570 RON |
| Mortgage Processing Manager | 10,800 RON |
| Mortgage Processor | 4,150 RON |
| Mortgage Quality Assurance Auditor | 9,030 RON |
| Mortgage Quality Assurance Manager | 11,200 RON |
| Mortgage Servicing Clerk | 3,470 RON |
| Mortgage Servicing Manager | 10,800 RON |
| Mortgage Underwriter | 4,090 RON |
| Online Banking Manager | 16,400 RON |
| Payment Processing Clerk | 3,270 RON |
| Personal Banker | 7,210 RON |
| Personal Banking Advisor | 6,680 RON |
| Phone Banker | 4,370 RON |
| Private Banker | 7,190 RON |
| Reconciliation and Investigation Specialist | 7,910 RON |
| Teller | 3,180 RON |
| Trade Officer | 3,820 RON |
| Trade Product Manager | 10,700 RON |
| Trader | 4,850 RON |
| Treasury Operations Officer | 8,690 RON |
Banking Jobs Salary Distribution in Romania
The median, the maximum, the minimum, and the range
Salary Range
Banking salaries in Romania range from 3,070 RON per month (minimum average salary) to 20,000 RON per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 9,120 RON per month, which means that half (50%) of people working in Banking are earning less than 9,120 RON while the other half are earning more than 9,120 RON. 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 5,490 RON while 75% of them are earning more than 5,490 RON. Also from the diagram, 75% of people working in Banking are earning less than 13,400 RON while 25% are earning more than 13,400 RON.
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?
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Romania costs anywhere from 44,900 New Leu(s) to 135,000 New Leu(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
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Romania who work in Banking earn 7% more than their female counterparts on average.
| Female | 9,510 RON | |
| Male | +7% | 10,200 RON |
Salary Comparison By Gender in Romania for all Careers
Banking Average Annual Salary Increment Percentage in Romania
How much are annual salary increments in Romania for Banking professionals? How often do employees get salary raises?
Banking
Banking professionals in Romania 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.
Romania / 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
Annual Increment Rate By Industry 2019
| Banking | 7% | |
| Energy | 5% | |
| Information Technology | 3% | |
| Healthcare | 1% | |
| Travel | 8% | |
| Construction | 6% | |
| Education | 4% |
Listed above are the average annual increase rates for each industry in Romania 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
Banking Bonus and Incentive Rates in Romania
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/romania/banking/annual-salary-bonus-rate-romania-banking.jpg
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.
29% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 71% 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 | 71% | |
| No Bonus | 29% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 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. |
Example: | Example: |
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.
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
Where can you get paid more, working for a private company or for the government? Public sector employees in Romania earn 7% more than their private sector counterparts on average across all sectors.
| Private Sector | 8,760 RON | |
| Public Sector | +7% | 9,390 RON |
Banking Hourly Average Wage in Romania
57 RON per hourThe average hourly wage (pay per hour) in Romania is 57 RON. This means that the average person in Romania earns approximately 57 RON for every worked hour.
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
The average salary for Banking is 10% more than that of All Jobs.
Salary Comparison By City
| City | Average Salary |
| Brasov | 8,850 RON |
| Bucharest | 10,700 RON |
| Cluj-Napoca | 9,890 RON |
| Sibiu | 10,400 RON |
| Timisoara | 9,310 RON |
