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Banking Average Salaries in Thailand 2021

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


Average Monthly Salary
105,000 THB
( 1,260,000 THB yearly)

LOW
33,200
THB
AVERAGE
105,000
THB
HIGH
216,000
THB

A person working in Banking in Thailand typically earns around 105,000 THB per month. Salaries range from 33,200 THB (lowest average) to 216,000 THB (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 Analyst156,000 THB
Assistant Bank Branch Manager134,000 THB
Assistant Bank Manager179,000 THB
ATM Manager153,000 THB
ATM Service Technician38,700 THB
Bank Accounts Analyst56,500 THB
Bank Accounts Controller73,600 THB
Bank Accounts Executive111,000 THB
Bank Accounts Manager130,000 THB
Bank Auditing Manager127,000 THB
Bank Branch Manager180,000 THB
Bank Clerk34,700 THB
Bank Compliance Specialist96,500 THB
Bank Manager206,000 THB
Bank Operational Risk Manager200,000 THB
Bank Operations Head204,000 THB
Bank Operations Officer85,400 THB
Bank Operations Specialist131,000 THB
Bank Process Manager115,000 THB
Bank Product Manager 132,000 THB
Bank Programme Manager146,000 THB
Bank Project Manager173,000 THB
Bank Propositions Manager154,000 THB
Bank Quantitative Analyst110,000 THB
Bank Regional Manager220,000 THB
Bank Regional Risk Officer115,000 THB
Bank Relationship Manager164,000 THB
Bank Relationship Officer72,100 THB
Banker76,600 THB
Banking Business Analyst111,000 THB
Banking Business Development Officer66,300 THB
Banking Business Planning Executive157,000 THB
Banking Product Manager131,000 THB
Banking Reference Data Manager125,000 THB
Banking Risk Analyst109,000 THB
Banking Technical Analyst57,100 THB
Bankruptcy Coordinator78,900 THB
Budget Analyst112,000 THB
Cards Marketing Manager133,000 THB
Cash Management Manager188,000 THB
Check Processing Manager141,000 THB
Commercial Vault Associate103,000 THB
Corporate Dealer119,000 THB
Credit Analyst88,600 THB
Credit and Collections Manager141,000 THB
Credit Card Fraud Investigator110,000 THB
Credit Portfolio Manager207,000 THB
Credit Risk Analyst119,000 THB
Credit Risk Associate116,000 THB
Direct Bank Sales Representative76,500 THB
Financial Bank Planning Consultant146,000 THB
Financial Banking Analysis Manager164,000 THB
Financial Banking Assistant53,900 THB
Financial Banking Systems Manager156,000 THB
Foreign Exchange Manager153,000 THB
Fraud Analyst119,000 THB
Fraud Detection Associate77,200 THB
Fraud Detection Manager175,000 THB
Fraud Detection Supervisor94,700 THB
Internal Bank Audit Manager203,000 THB
Internal Bank Auditor110,000 THB
International Banking Manager213,000 THB
Loan Analyst110,000 THB
Loan Area Manager134,000 THB
Loan Audit Team Leader125,000 THB
Loan Branch Manager126,000 THB
Loan Business Development Officer68,800 THB
Loan Clerk36,900 THB
Loan Collection Manager127,000 THB
Loan Collector35,700 THB
Loan Examiner48,300 THB
Loan Processing Manager121,000 THB
Loan Processor51,300 THB
Loan Quality Assurance Auditor106,000 THB
Loan Quality Assurance Manager120,000 THB
Loan Quality Assurance Representative81,000 THB
Loan Review Manager124,000 THB
Loan Team Leader112,000 THB
Mortgage Advisor78,500 THB
Mortgage Collection Manager134,000 THB
Mortgage Collector34,400 THB
Mortgage Credit Analyst56,800 THB
Mortgage Credit Manager121,000 THB
Mortgage Development Manager141,000 THB
Mortgage Document Reviewer48,800 THB
Mortgage Funding Manager147,000 THB
Mortgage Operations Manager192,000 THB
Mortgage Payment Processing Clerk42,900 THB
Mortgage Processing Manager119,000 THB
Mortgage Processor47,600 THB
Mortgage Quality Assurance Auditor113,000 THB
Mortgage Quality Assurance Manager118,000 THB
Mortgage Servicing Clerk37,300 THB
Mortgage Servicing Manager120,000 THB
Mortgage Underwriter44,900 THB
Online Banking Manager184,000 THB
Payment Processing Clerk38,100 THB
Personal Banker81,600 THB
Personal Banking Advisor 79,500 THB
Phone Banker53,600 THB
Private Banker78,800 THB
Reconciliation and Investigation Specialist87,000 THB
Teller38,900 THB
Trade Officer45,900 THB
Trade Product Manager134,000 THB
Trader51,400 THB
Treasury Operations Officer93,700 THB

Banking Jobs Salary Distribution in Thailand

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

  • Salary Range

    Banking salaries in Thailand range from 33,200 THB per month (minimum average salary) to 216,000 THB per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 105,000 THB per month, which means that half (50%) of people working in Banking are earning less than 105,000 THB while the other half are earning more than 105,000 THB. 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 62,300 THB while 75% of them are earning more than 62,300 THB. Also from the diagram, 75% of people working in Banking are earning less than 161,000 THB while 25% are earning more than 161,000 THB.


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 Thailand costs anywhere from 485,000 Baht(s) to 1,450,000 Baht(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 Thailand 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 Thailand who work in Banking earn 6% more than their female counterparts on average.

Male
108,000 THB
Female-6%
102,000 THB
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Thailand for all Careers

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

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

Banking

Banking professionals in Thailand 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 Thailand 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.

Thailand / 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 Thailand is 6%.

Annual Increment Rate By Industry 2020

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 Thailand for the year 2020. 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 Thailand

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

22% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 78% 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
78%
No Bonus
22%

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 Thailand


610 THB per hour

The average hourly wage (pay per hour) in Thailand is 610 THB. This means that the average person in Thailand earns approximately 610 THB 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 Thailand
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Bangkok (Krung Thep)122,000 THB
Chiang Mai117,000 THB

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 Thailand earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
94,000 THB
Public Sector+7%
100,000 THB
Percentage increase and decrease are relative to the previous value

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