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Banking Average Salaries in Samoa 2022

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


Average Monthly Salary
2,650 WST
( 31,900 WST yearly)

LOW
840
WST
AVERAGE
2,650
WST
HIGH
5,450
WST

A person working in Banking in Samoa typically earns around 2,650 WST per month. Salaries range from 840 WST (lowest average) to 5,450 WST (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 Analyst3,450 WST
Assistant Bank Branch Manager3,000 WST
Assistant Bank Manager4,250 WST
ATM Manager3,550 WST
ATM Service Technician970 WST
Bank Accounts Analyst1,380 WST
Bank Accounts Controller1,720 WST
Bank Accounts Executive2,520 WST
Bank Accounts Manager2,880 WST
Bank Auditing Manager3,080 WST
Bank Branch Manager4,140 WST
Bank Clerk810 WST
Bank Compliance Specialist2,180 WST
Bank Manager5,010 WST
Bank Operational Risk Manager4,950 WST
Bank Operations Head5,240 WST
Bank Operations Officer1,990 WST
Bank Operations Specialist3,090 WST
Bank Process Manager2,740 WST
Bank Product Manager 3,290 WST
Bank Programme Manager3,270 WST
Bank Project Manager3,760 WST
Bank Propositions Manager3,510 WST
Bank Quantitative Analyst2,480 WST
Bank Regional Manager4,920 WST
Bank Regional Risk Officer2,530 WST
Bank Relationship Manager3,560 WST
Bank Relationship Officer1,760 WST
Banker1,700 WST
Banking Business Analyst2,600 WST
Banking Business Development Officer1,670 WST
Banking Business Planning Executive3,790 WST
Banking Product Manager3,240 WST
Banking Reference Data Manager2,900 WST
Banking Risk Analyst2,450 WST
Banking Technical Analyst1,430 WST
Bankruptcy Coordinator1,820 WST
Budget Analyst2,440 WST
Cards Marketing Manager3,270 WST
Cash Management Manager4,610 WST
Check Processing Manager3,370 WST
Commercial Vault Associate2,500 WST
Corporate Dealer2,640 WST
Credit Analyst1,950 WST
Credit and Collections Manager3,350 WST
Credit Card Fraud Investigator2,530 WST
Credit Portfolio Manager4,710 WST
Credit Risk Analyst2,800 WST
Credit Risk Associate2,680 WST
Direct Bank Sales Representative1,900 WST
Financial Bank Planning Consultant3,220 WST
Financial Banking Analysis Manager3,850 WST
Financial Banking Assistant1,230 WST
Financial Banking Systems Manager3,480 WST
Foreign Exchange Manager3,680 WST
Fraud Analyst2,650 WST
Fraud Detection Associate1,800 WST
Fraud Detection Manager3,930 WST
Fraud Detection Supervisor2,150 WST
Internal Bank Audit Manager4,830 WST
Internal Bank Auditor2,540 WST
International Banking Manager5,300 WST
Loan Analyst2,420 WST
Loan Area Manager3,010 WST
Loan Audit Team Leader2,820 WST
Loan Branch Manager2,750 WST
Loan Business Development Officer1,620 WST
Loan Clerk940 WST
Loan Collection Manager3,140 WST
Loan Collector830 WST
Loan Examiner1,100 WST
Loan Processing Manager2,680 WST
Loan Processor1,110 WST
Loan Quality Assurance Auditor2,720 WST
Loan Quality Assurance Manager2,990 WST
Loan Quality Assurance Representative1,970 WST
Loan Review Manager2,930 WST
Loan Team Leader2,590 WST
Mortgage Advisor1,760 WST
Mortgage Collection Manager2,930 WST
Mortgage Collector810 WST
Mortgage Credit Analyst1,300 WST
Mortgage Credit Manager2,980 WST
Mortgage Development Manager3,380 WST
Mortgage Document Reviewer1,140 WST
Mortgage Funding Manager3,330 WST
Mortgage Operations Manager4,630 WST
Mortgage Payment Processing Clerk1,010 WST
Mortgage Processing Manager2,910 WST
Mortgage Processor1,130 WST
Mortgage Quality Assurance Auditor2,580 WST
Mortgage Quality Assurance Manager2,920 WST
Mortgage Servicing Clerk860 WST
Mortgage Servicing Manager2,700 WST
Mortgage Underwriter1,080 WST
Online Banking Manager4,450 WST
Payment Processing Clerk900 WST
Personal Banker1,790 WST
Personal Banking Advisor 1,970 WST
Phone Banker1,270 WST
Private Banker1,810 WST
Reconciliation and Investigation Specialist2,090 WST
Teller910 WST
Trade Officer1,080 WST
Trade Product Manager3,060 WST
Trader1,270 WST
Treasury Operations Officer2,360 WST

Banking Jobs Salary Distribution in Samoa

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

  • Salary Range

    Banking salaries in Samoa range from 840 WST per month (minimum average salary) to 5,450 WST per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 2,660 WST per month, which means that half (50%) of people working in Banking are earning less than 2,660 WST while the other half are earning more than 2,660 WST. 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 1,570 WST while 75% of them are earning more than 1,570 WST. Also from the diagram, 75% of people working in Banking are earning less than 4,050 WST while 25% are earning more than 4,050 WST.


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 Samoa costs anywhere from 12,200 Tala(s) to 36,600 Tala(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 Samoa 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 Samoa who work in Banking earn 6% more than their female counterparts on average.

Male
2,730 WST
Female-6%
2,560 WST
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Samoa for all Careers

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

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

Banking

Banking professionals in Samoa are likely to observe a salary increase of approximately 7% every 26 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Samoa 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.

Samoa / 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 Samoa is 2%.

Annual Increment Rate By Industry 2021

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Listed above are the average annual increase rates for each industry in Samoa for the year 2021. 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 Samoa

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

40% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 60% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 8% of their annual salary.

Received Bonus
60%
No Bonus
40%

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 Samoa


15 WST per hour

The average hourly wage (pay per hour) in Samoa is 15 WST. This means that the average person in Samoa earns approximately 15 WST 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 Samoa
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The average salary for Banking is 9% more than that of All Jobs.

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 Samoa earn 17% more than their private sector counterparts on average across all sectors.

Private Sector
2,270 WST
Public Sector+17%
2,660 WST
Percentage increase and decrease are relative to the previous value

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