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Commercial Vault Associate Average Salary in Zimbabwe 2024

How much money does a person working as Commercial Vault Associate make in Zimbabwe?


Average Monthly Salary
222,000 ZWD
( 2,660,000 ZWD yearly)

LOW
102,000
ZWD
AVERAGE
222,000
ZWD
HIGH
353,000
ZWD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Commercial Vault Associate in Zimbabwe typically earns around 222,000 ZWD. Salaries range from 102,000 ZWD (lowest) to 353,000 ZWD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Commercial Vault Associate salaries in Zimbabwe vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Commercial Vault Associate Pay Scale and Salaries in Zimbabwe

Median and salary distribution Zimbabwe Commercial Vault Associate monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
210,000 ZWD or more
10% of people earn
184,000 to 210,000 ZWD
20% of people earn
127,000 ZWD or less
65% of people earn
127,000 to 184,000 ZWD
Minimum Salary
102,000 ZWD
Median
212,000 ZWD
Maximum
353,000 ZWD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Commercial Vault Associate in Zimbabwe range from 102,000 ZWD (starting salary) to 353,000 ZWD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 212,000 ZWD, half of the professionals who work as Commercial Vault Associate in Zimbabwe earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Commercial Vault Associate in Zimbabwe earn less than 171,000 ZWD, while 75% earn more. Similarly, the chart shows that 75% earn less than 244,000 ZWD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Commercial Vault Associate in Zimbabwe compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 127,000 ZWD to 184,000 ZWD. About 20% of salaries are below the 127,000 ZWD mark, while 10% fall within the range of 184,000 ZWD to 210,000 ZWD. Only 5% of individuals have salaries exceeding 210,000 ZWD.

Salary Comparison by Years of Experience / Commercial Vault Associate / Zimbabwe

How do experience and age affect pay?

0 - 2 Years
116,000 ZWD
2 - 5 Years+34%
155,000 ZWD
5 - 10 Years+48%
229,000 ZWD
10 - 15 Years+22%
279,000 ZWD
15 - 20 Years+9%
304,000 ZWD
20+ Years+8%
329,000 ZWD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Zimbabwe Commercial Vault Associate
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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. We broke down salaries by experience level for people working as Commercial Vault Associate and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 116,000 ZWD.

While someone with an experience level between two and five years is expected to earn 155,000 ZWD, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 229,000 ZWD, 48% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 279,000 ZWD, 22% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 304,000 ZWD, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 329,000 ZWD, 8% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Commercial Vault Associate / Zimbabwe

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Commercial Vault Associate.

Bachelor's Degree
135,000 ZWD
Master's Degree+93%
260,000 ZWD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Zimbabwe Commercial Vault Associate
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Commercial Vault Associate in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 135,000 ZWD.


Level 2: Master's Degree

At this level, the average salary becomes 260,000 ZWD, 93% more than the previous level.



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 Zimbabwe costs anywhere from 1,090,000 ZWD to 3,260,000 ZWD 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Commercial Vault Associate / Zimbabwe

Salary comparison by gender Zimbabwe Commercial Vault Associate monthly
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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? For the people who work as Commercial Vault Associate in Zimbabwe, the average difference between the salary of male and female employees is 13%.

Male
235,000 ZWD
Female-11%
209,000 ZWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Zimbabwe for all Careers

Salary comparison by gender monthly Zimbabwe
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Average Annual Salary Increment Percentage / Commercial Vault Associate / Zimbabwe

How much are annual salary increments in Zimbabwe for individuals working as Commercial Vault Associate? How often do employees get salary raises?

Individuals working as Commercial Vault Associate in Zimbabwe are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Zimbabwe Commercial Vault Associate
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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.

Zimbabwe / All Professions

Annual Salary Increment Rate Zimbabwe
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Zimbabwe is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Commercial Vault Associate / Zimbabwe

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Zimbabwe Commercial Vault Associate
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84% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 16% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 0% to 4% of their annual salary.

Received Bonus
16%
No Bonus
84%

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.

Average Hourly Wage / Commercial Vault Associate / Zimbabwe


1,280 ZWD per hour

The average hourly wage (pay per hour) for individuals working as Commercial Vault Associate in Zimbabwe is 1,280 ZWD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Commercial Vault Associate in Zimbabwe is 590 ZWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Banking-100%
AML Analyst322,000 ZWD+45%
Assistant Bank Branch Manager276,000 ZWD+24%
Assistant Bank Manager379,000 ZWD+71%
ATM Manager334,000 ZWD+51%
ATM Service Technician87,000 ZWD-61%
Bank Accounts Analyst121,000 ZWD-45%
Bank Accounts Collector79,900 ZWD-64%
Bank Accounts Controller159,000 ZWD-28%
Bank Accounts Executive246,000 ZWD+11%
Bank Accounts Manager269,000 ZWD+21%
Bank Auditing Manager292,000 ZWD+32%
Bank Branch Manager398,000 ZWD+79%
Bank Branch Operations Coordinator176,000 ZWD-21%
Bank Clerk76,400 ZWD-66%
Bank Client Service Associate111,000 ZWD-50%
Bank Collector81,800 ZWD-63%
Bank Compliance Specialist197,000 ZWD-11%
Bank Manager462,000 ZWD+110%
Bank Operational Risk Manager439,000 ZWD+98%
Bank Operations Head479,000 ZWD+120%
Bank Operations Officer183,000 ZWD-18%
Bank Operations Specialist273,000 ZWD+23%
Bank Process Manager260,000 ZWD+17%
Bank Product Manager 288,000 ZWD+30%
Bank Programme Manager301,000 ZWD+36%
Bank Project Manager376,000 ZWD+69%
Bank Propositions Manager323,000 ZWD+46%
Bank Quantitative Analyst241,000 ZWD+9%
Bank Regional Manager466,000 ZWD+110%
Bank Regional Risk Officer242,000 ZWD+9%
Bank Relationship Manager356,000 ZWD+60%
Bank Relationship Officer153,000 ZWD-31%
Bank Sustainability Analyst266,000 ZWD+20%
Bank Teller84,100 ZWD-62%
Banker170,000 ZWD-23%
Banking Business Analyst242,000 ZWD+9%
Banking Business Development Officer148,000 ZWD-33%
Banking Business Planning Executive334,000 ZWD+51%
Banking Data Analyst285,000 ZWD+28%
Banking Product Manager288,000 ZWD+30%
Banking Reference Data Manager273,000 ZWD+23%
Banking Regulatory Compliance Officer276,000 ZWD+24%
Banking Risk Analyst236,000 ZWD+6%
Banking Technical Analyst121,000 ZWD-45%
Bankruptcy Coordinator169,000 ZWD-24%
Bill and Account Collector87,800 ZWD-60%
Blockchain Analyst197,000 ZWD-11%
Blockchain Architect239,000 ZWD+8%
Blockchain Auditor200,000 ZWD-10%
Blockchain Compliance Analyst216,000 ZWD-3%
Blockchain Consultant236,000 ZWD+6%
Blockchain Trade Facilitator188,000 ZWD-15%
Budget Analyst237,000 ZWD+7%
Capital Risk Manager463,000 ZWD+110%
Cards Marketing Manager285,000 ZWD+28%
Cash Management Manager432,000 ZWD+95%
Check Processing Manager302,000 ZWD+36%
Chief Blockchain Officer261,000 ZWD+18%
Commercial Vault Associate222,000 ZWD+0%
Corporate Banker178,000 ZWD-20%
Corporate Dealer249,000 ZWD+12%
Credit Analyst187,000 ZWD-16%
Credit and Collections Manager306,000 ZWD+38%
Credit Card Fraud Investigator245,000 ZWD+10%
Credit Portfolio Manager446,000 ZWD+100%
Credit Risk Analyst270,000 ZWD+22%
Credit Risk Associate244,000 ZWD+10%
Cryptocurrency Accountant145,000 ZWD-35%
Cryptocurrency Adviser295,000 ZWD+33%
Cryptocurrency Analyst230,000 ZWD+4%
Cryptocurrency Compliance Manager271,000 ZWD+22%
Cryptocurrency Trader253,000 ZWD+14%
Digital Banking Manager310,000 ZWD+40%
Digital Currency Analyst230,000 ZWD+4%
Direct Bank Sales Representative175,000 ZWD-21%
Exchange Control Consultant251,000 ZWD+13%
Executive Account Analyst227,000 ZWD+2%
Financial Bank Planning Consultant308,000 ZWD+39%
Financial Banking Analysis Manager359,000 ZWD+62%
Financial Banking Assistant110,000 ZWD-50%
Financial Banking Systems Manager328,000 ZWD+48%
Foreign Exchange Manager331,000 ZWD+49%
Fraud Analyst265,000 ZWD+19%
Fraud Detection Associate171,000 ZWD-23%
Fraud Detection Manager387,000 ZWD+74%
Fraud Detection Supervisor216,000 ZWD-3%
Internal Bank Audit Manager444,000 ZWD+100%
Internal Bank Auditor223,000 ZWD+1%
Internal Private Banker179,000 ZWD-19%
International Banking Manager492,000 ZWD+120%
Investment Banking Analyst357,000 ZWD+61%
Loan Analyst246,000 ZWD+11%
Loan Area Manager289,000 ZWD+30%
Loan Audit Team Leader271,000 ZWD+22%
Loan Branch Manager280,000 ZWD+26%
Loan Business Development Officer143,000 ZWD-36%
Loan Clerk87,000 ZWD-61%
Loan Collection and Recovery Manager290,000 ZWD+31%
Loan Collection Manager278,000 ZWD+25%
Loan Collector74,800 ZWD-66%
Loan Examiner104,000 ZWD-53%
Loan Officer90,600 ZWD-59%
Loan Processing Manager268,000 ZWD+21%
Loan Processor106,000 ZWD-52%
Loan Quality Assurance Auditor248,000 ZWD+12%
Loan Quality Assurance Manager261,000 ZWD+18%
Loan Quality Assurance Representative182,000 ZWD-18%
Loan Review Manager259,000 ZWD+17%
Loan Team Leader242,000 ZWD+9%
Loans Manager304,000 ZWD+37%
Mortgage Advisor173,000 ZWD-22%
Mortgage Collection Manager276,000 ZWD+24%
Mortgage Collector80,500 ZWD-64%
Mortgage Credit Analyst124,000 ZWD-44%
Mortgage Credit Manager271,000 ZWD+22%
Mortgage Development Manager293,000 ZWD+32%
Mortgage Document Reviewer104,000 ZWD-53%
Mortgage Funding Manager323,000 ZWD+46%
Mortgage Operations Manager397,000 ZWD+79%
Mortgage Payment Processing Clerk91,400 ZWD-59%
Mortgage Processing Manager270,000 ZWD+22%
Mortgage Processor111,000 ZWD-50%
Mortgage Quality Assurance Auditor247,000 ZWD+11%
Mortgage Quality Assurance Manager267,000 ZWD+20%
Mortgage Servicing Clerk80,800 ZWD-64%
Mortgage Servicing Manager268,000 ZWD+21%
Mortgage Underwriter104,000 ZWD-53%
Online Banking Manager395,000 ZWD+78%
Open Banking Strategist242,000 ZWD+9%
Payment Processing Clerk84,100 ZWD-62%
Personal Banker177,000 ZWD-20%
Personal Banking Advisor 182,000 ZWD-18%
Phone Banker117,000 ZWD-47%
Private Banker179,000 ZWD-19%
Reconciliation and Investigation Specialist202,000 ZWD-9%
Tax Officer136,000 ZWD-39%
Teller78,600 ZWD-65%
Trade Officer97,900 ZWD-56%
Trade Product Manager293,000 ZWD+32%
Trader116,000 ZWD-48%
Treasury Operations Officer210,000 ZWD-5%
Wealth Management Advisor352,000 ZWD+59%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Zimbabwe is 25% on average across all career fields.

Private Sector
194,000 ZWD
Public Sector+25%
242,000 ZWD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Commercial Vault Associate in Zimbabwe?

A good and competitive compensation would range anywhere between 212,000 ZWD and 244,000 ZWD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Commercial Vault Associate in Zimbabwe ranges from 102,000 ZWD to 171,000 ZWD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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