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Banking Average Salaries in Belgium 2020

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


Average Monthly Salary
6,740 EUR
( 80,900 EUR yearly)

LOW
2,400
EUR
AVERAGE
6,740
EUR
HIGH
13,200
EUR

A person working in Banking in Belgium typically earns around 6,740 EUR per month. Salaries range from 2,400 EUR (lowest average) to 13,200 EUR (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 Analyst9,090 EUR
Assistant Bank Branch Manager8,210 EUR
Assistant Bank Manager10,400 EUR
ATM Manager9,050 EUR
ATM Service Technician2,890 EUR
Bank Accounts Analyst4,010 EUR
Bank Accounts Controller4,920 EUR
Bank Accounts Executive7,220 EUR
Bank Accounts Manager7,660 EUR
Bank Auditing Manager8,420 EUR
Bank Branch Manager10,800 EUR
Bank Clerk2,550 EUR
Bank Compliance Specialist5,700 EUR
Bank Manager12,700 EUR
Bank Operational Risk Manager13,000 EUR
Bank Operations Head12,400 EUR
Bank Operations Officer5,290 EUR
Bank Operations Specialist8,270 EUR
Bank Process Manager7,400 EUR
Bank Product Manager 8,220 EUR
Bank Programme Manager8,920 EUR
Bank Project Manager10,100 EUR
Bank Propositions Manager9,730 EUR
Bank Quantitative Analyst6,710 EUR
Bank Regional Manager12,600 EUR
Bank Regional Risk Officer6,760 EUR
Bank Relationship Manager9,560 EUR
Bank Relationship Officer4,690 EUR
Banker4,900 EUR
Banking Business Analyst6,940 EUR
Banking Business Development Officer4,350 EUR
Banking Business Planning Executive9,250 EUR
Banking Product Manager8,670 EUR
Banking Reference Data Manager7,470 EUR
Banking Risk Analyst7,110 EUR
Banking Technical Analyst3,990 EUR
Bankruptcy Coordinator5,210 EUR
Budget Analyst6,990 EUR
Cards Marketing Manager8,820 EUR
Cash Management Manager11,600 EUR
Check Processing Manager8,870 EUR
Commercial Vault Associate6,660 EUR
Corporate Dealer7,260 EUR
Credit Analyst5,310 EUR
Credit and Collections Manager9,080 EUR
Credit Card Fraud Investigator7,210 EUR
Credit Portfolio Manager12,400 EUR
Credit Risk Analyst7,300 EUR
Credit Risk Associate7,490 EUR
Direct Bank Sales Representative5,200 EUR
Financial Bank Planning Consultant8,460 EUR
Financial Banking Analysis Manager9,710 EUR
Financial Banking Assistant3,520 EUR
Financial Banking Systems Manager9,410 EUR
Foreign Exchange Manager10,200 EUR
Fraud Analyst7,380 EUR
Fraud Detection Associate4,910 EUR
Fraud Detection Manager10,000 EUR
Fraud Detection Supervisor5,970 EUR
Internal Bank Audit Manager12,500 EUR
Internal Bank Auditor6,990 EUR
International Banking Manager13,200 EUR
Loan Analyst6,580 EUR
Loan Area Manager8,620 EUR
Loan Audit Team Leader8,100 EUR
Loan Branch Manager7,420 EUR
Loan Business Development Officer4,300 EUR
Loan Clerk2,760 EUR
Loan Collection Manager8,400 EUR
Loan Collector2,490 EUR
Loan Examiner3,240 EUR
Loan Processing Manager7,470 EUR
Loan Processor3,460 EUR
Loan Quality Assurance Auditor6,640 EUR
Loan Quality Assurance Manager7,500 EUR
Loan Quality Assurance Representative5,260 EUR
Loan Review Manager7,870 EUR
Loan Team Leader7,220 EUR
Mortgage Advisor4,730 EUR
Mortgage Collection Manager7,840 EUR
Mortgage Collector2,570 EUR
Mortgage Credit Analyst3,960 EUR
Mortgage Credit Manager7,970 EUR
Mortgage Development Manager8,390 EUR
Mortgage Document Reviewer3,220 EUR
Mortgage Funding Manager8,840 EUR
Mortgage Operations Manager11,700 EUR
Mortgage Payment Processing Clerk3,010 EUR
Mortgage Processing Manager8,030 EUR
Mortgage Processor3,180 EUR
Mortgage Quality Assurance Auditor6,490 EUR
Mortgage Quality Assurance Manager7,530 EUR
Mortgage Servicing Clerk2,610 EUR
Mortgage Servicing Manager7,480 EUR
Mortgage Underwriter3,160 EUR
Online Banking Manager11,500 EUR
Payment Processing Clerk2,760 EUR
Personal Banker5,200 EUR
Personal Banking Advisor 5,380 EUR
Phone Banker3,630 EUR
Private Banker5,260 EUR
Reconciliation and Investigation Specialist5,690 EUR
Teller2,630 EUR
Trade Officer3,190 EUR
Trade Product Manager7,620 EUR
Trader3,520 EUR
Treasury Operations Officer5,960 EUR

Banking Jobs Salary Distribution in Belgium

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

  • Salary Range

    Banking salaries in Belgium range from 2,400 EUR per month (minimum average salary) to 13,200 EUR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 6,470 EUR per month, which means that half (50%) of people working in Banking are earning less than 6,470 EUR while the other half are earning more than 6,470 EUR. 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 3,990 EUR while 75% of them are earning more than 3,990 EUR. Also from the diagram, 75% of people working in Banking are earning less than 9,430 EUR while 25% are earning more than 9,430 EUR.


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 Belgium costs anywhere from 30,700 Euro(s) to 92,200 Euro(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 Belgium 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 Belgium who work in Banking earn 7% more than their female counterparts on average.

Female
6,550 EUR
Male+7%
6,980 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Belgium for all Careers

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

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

Banking

Banking professionals in Belgium are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Annual Salary Increment Rate Belgium 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.

Belgium / 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 Belgium is 6%.

Annual Increment Rate By Industry 2019

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

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

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Belgium 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 6% to 8% 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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Belgium
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Where can you get paid more, working for a private company or for the government? Public sector employees in Belgium earn 5% more than their private sector counterparts on average across all sectors.

Private Sector
6,000 EUR
Public Sector+5%
6,320 EUR
Percentage increase and decrease are relative to the previous value

Banking Hourly Average Wage in Belgium


39 EUR per hour

The average hourly wage (pay per hour) in Belgium is 39 EUR. This means that the average person in Belgium earns approximately 39 EUR 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 Belgium
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The average salary for Banking is 10% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Antwerp7,800 EUR
Brugge (Bruges)6,750 EUR
Brussel6,970 EUR
Charleroi7,410 EUR
Gent (Ghent)7,660 EUR
Leuven6,400 EUR
Liege7,270 EUR
Namur6,660 EUR
5074 - 9

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