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Banking Average Salaries in Venezuela 2023

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

Average Monthly Salary
144,000 VES
( 1,730,000 VES yearly)


A person working in Banking in Venezuela typically earns around 144,000 VES per month. Salaries range from 45,300 VES (lowest average) to 296,000 VES (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 Analyst213,000 VES
Assistant Bank Branch Manager172,000 VES
Assistant Bank Manager225,000 VES
ATM Manager197,000 VES
ATM Service Technician56,200 VES
Bank Accounts Analyst80,300 VES
Bank Accounts Controller96,500 VES
Bank Accounts Executive148,000 VES
Bank Accounts Manager178,000 VES
Bank Auditing Manager170,000 VES
Bank Branch Manager251,000 VES
Bank Clerk45,500 VES
Bank Compliance Specialist129,000 VES
Bank Manager270,000 VES
Bank Operational Risk Manager274,000 VES
Bank Operations Head285,000 VES
Bank Operations Officer110,000 VES
Bank Operations Specialist175,000 VES
Bank Process Manager154,000 VES
Bank Product Manager 187,000 VES
Bank Programme Manager188,000 VES
Bank Project Manager232,000 VES
Bank Propositions Manager198,000 VES
Bank Quantitative Analyst144,000 VES
Bank Regional Manager289,000 VES
Bank Regional Risk Officer142,000 VES
Bank Relationship Manager219,000 VES
Bank Relationship Officer100,000 VES
Banker103,000 VES
Banking Business Analyst149,000 VES
Banking Business Development Officer90,600 VES
Banking Business Planning Executive210,000 VES
Banking Product Manager179,000 VES
Banking Reference Data Manager161,000 VES
Banking Risk Analyst152,000 VES
Banking Technical Analyst79,600 VES
Bankruptcy Coordinator108,000 VES
Budget Analyst147,000 VES
Cards Marketing Manager190,000 VES
Cash Management Manager262,000 VES
Check Processing Manager181,000 VES
Commercial Vault Associate141,000 VES
Corporate Dealer153,000 VES
Credit Analyst109,000 VES
Credit and Collections Manager197,000 VES
Credit Card Fraud Investigator156,000 VES
Credit Portfolio Manager271,000 VES
Credit Risk Analyst169,000 VES
Credit Risk Associate158,000 VES
Direct Bank Sales Representative100,000 VES
Financial Bank Planning Consultant180,000 VES
Financial Banking Analysis Manager224,000 VES
Financial Banking Assistant67,900 VES
Financial Banking Systems Manager201,000 VES
Foreign Exchange Manager223,000 VES
Fraud Analyst160,000 VES
Fraud Detection Associate103,000 VES
Fraud Detection Manager221,000 VES
Fraud Detection Supervisor129,000 VES
Internal Bank Audit Manager262,000 VES
Internal Bank Auditor144,000 VES
International Banking Manager285,000 VES
Loan Analyst142,000 VES
Loan Area Manager186,000 VES
Loan Audit Team Leader174,000 VES
Loan Branch Manager162,000 VES
Loan Business Development Officer90,300 VES
Loan Clerk49,400 VES
Loan Collection Manager173,000 VES
Loan Collector45,800 VES
Loan Examiner63,400 VES
Loan Processing Manager162,000 VES
Loan Processor63,400 VES
Loan Quality Assurance Auditor148,000 VES
Loan Quality Assurance Manager170,000 VES
Loan Quality Assurance Representative106,000 VES
Loan Review Manager166,000 VES
Loan Team Leader154,000 VES
Mortgage Advisor98,900 VES
Mortgage Collection Manager173,000 VES
Mortgage Collector49,900 VES
Mortgage Credit Analyst76,100 VES
Mortgage Credit Manager166,000 VES
Mortgage Development Manager196,000 VES
Mortgage Document Reviewer62,700 VES
Mortgage Funding Manager193,000 VES
Mortgage Operations Manager251,000 VES
Mortgage Payment Processing Clerk57,400 VES
Mortgage Processing Manager160,000 VES
Mortgage Processor65,000 VES
Mortgage Quality Assurance Auditor139,000 VES
Mortgage Quality Assurance Manager165,000 VES
Mortgage Servicing Clerk52,000 VES
Mortgage Servicing Manager155,000 VES
Mortgage Underwriter63,900 VES
Online Banking Manager251,000 VES
Payment Processing Clerk53,000 VES
Personal Banker103,000 VES
Personal Banking Advisor 104,000 VES
Phone Banker69,000 VES
Private Banker101,000 VES
Reconciliation and Investigation Specialist124,000 VES
Teller48,000 VES
Trade Officer61,500 VES
Trade Product Manager165,000 VES
Trader71,600 VES
Treasury Operations Officer128,000 VES

Banking Jobs Salary Distribution in Venezuela

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

  • Salary Range

    Banking salaries in Venezuela range from 45,300 VES per month (minimum average salary) to 296,000 VES per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 141,000 VES per month, which means that half (50%) of people working in Banking are earning less than 141,000 VES while the other half are earning more than 141,000 VES. 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 83,900 VES while 75% of them are earning more than 83,900 VES. Also from the diagram, 75% of people working in Banking are earning less than 214,000 VES while 25% are earning more than 214,000 VES.

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 Venezuela costs anywhere from 662,000 Bolivar Soberano(s) to 1,990,000 Bolivar Soberano(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 Venezuela 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 Venezuela who work in Banking earn 12% more than their female counterparts on average.

153,000 VES
136,000 VES
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Venezuela for all Careers

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

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


Banking professionals in Venezuela are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Venezuela 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.

Venezuela / 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 Venezuela is 2%.

Annual Increment Rate By Industry 2022

Information Technology

Listed above are the average annual increase rates for each industry in Venezuela for the year 2022. 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 Venezuela

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

41% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 59% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Venezuela

830 VES per hour

The average hourly wage (pay per hour) in Venezuela is 830 VES. This means that the average person in Venezuela earns approximately 830 VES 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 Venezuela
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Barquisimeto145,000 VES
Caracas162,000 VES
Ciudad Guayana134,000 VES
Maracaibo155,000 VES

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 Venezuela earn 11% more than their private sector counterparts on average across all sectors.

Private Sector
124,000 VES
Public Sector+11%
138,000 VES
Percentage increase and decrease are relative to the previous value

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