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Banking Average Salaries in Albania 2021

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


Average Monthly Salary
104,000 ALL
( 1,250,000 ALL yearly)

LOW
32,900
ALL
AVERAGE
104,000
ALL
HIGH
214,000
ALL

A person working in Banking in Albania typically earns around 104,000 ALL per month. Salaries range from 32,900 ALL (lowest average) to 214,000 ALL (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 Analyst158,000 ALL
Assistant Bank Branch Manager138,000 ALL
Assistant Bank Manager179,000 ALL
ATM Manager151,000 ALL
ATM Service Technician41,800 ALL
Bank Accounts Analyst60,500 ALL
Bank Accounts Controller76,300 ALL
Bank Accounts Executive113,000 ALL
Bank Accounts Manager132,000 ALL
Bank Auditing Manager135,000 ALL
Bank Branch Manager187,000 ALL
Bank Clerk33,200 ALL
Bank Compliance Specialist91,200 ALL
Bank Manager201,000 ALL
Bank Operational Risk Manager215,000 ALL
Bank Operations Head204,000 ALL
Bank Operations Officer82,700 ALL
Bank Operations Specialist126,000 ALL
Bank Process Manager120,000 ALL
Bank Product Manager 130,000 ALL
Bank Programme Manager150,000 ALL
Bank Project Manager174,000 ALL
Bank Propositions Manager146,000 ALL
Bank Quantitative Analyst105,000 ALL
Bank Regional Manager224,000 ALL
Bank Regional Risk Officer107,000 ALL
Bank Relationship Manager165,000 ALL
Bank Relationship Officer72,100 ALL
Banker78,400 ALL
Banking Business Analyst112,000 ALL
Banking Business Development Officer65,800 ALL
Banking Business Planning Executive154,000 ALL
Banking Product Manager141,000 ALL
Banking Reference Data Manager123,000 ALL
Banking Risk Analyst111,000 ALL
Banking Technical Analyst57,100 ALL
Bankruptcy Coordinator75,100 ALL
Budget Analyst114,000 ALL
Cards Marketing Manager143,000 ALL
Cash Management Manager184,000 ALL
Check Processing Manager137,000 ALL
Commercial Vault Associate109,000 ALL
Corporate Dealer113,000 ALL
Credit Analyst82,800 ALL
Credit and Collections Manager144,000 ALL
Credit Card Fraud Investigator111,000 ALL
Credit Portfolio Manager214,000 ALL
Credit Risk Analyst122,000 ALL
Credit Risk Associate120,000 ALL
Direct Bank Sales Representative76,200 ALL
Financial Bank Planning Consultant136,000 ALL
Financial Banking Analysis Manager159,000 ALL
Financial Banking Assistant51,800 ALL
Financial Banking Systems Manager148,000 ALL
Foreign Exchange Manager159,000 ALL
Fraud Analyst122,000 ALL
Fraud Detection Associate79,100 ALL
Fraud Detection Manager165,000 ALL
Fraud Detection Supervisor95,800 ALL
Internal Bank Audit Manager201,000 ALL
Internal Bank Auditor107,000 ALL
International Banking Manager227,000 ALL
Loan Analyst111,000 ALL
Loan Area Manager136,000 ALL
Loan Audit Team Leader128,000 ALL
Loan Branch Manager127,000 ALL
Loan Business Development Officer68,600 ALL
Loan Clerk40,200 ALL
Loan Collection Manager136,000 ALL
Loan Collector37,400 ALL
Loan Examiner50,000 ALL
Loan Processing Manager124,000 ALL
Loan Processor51,900 ALL
Loan Quality Assurance Auditor106,000 ALL
Loan Quality Assurance Manager118,000 ALL
Loan Quality Assurance Representative79,000 ALL
Loan Review Manager120,000 ALL
Loan Team Leader107,000 ALL
Mortgage Advisor73,900 ALL
Mortgage Collection Manager125,000 ALL
Mortgage Collector35,000 ALL
Mortgage Credit Analyst57,000 ALL
Mortgage Credit Manager120,000 ALL
Mortgage Development Manager138,000 ALL
Mortgage Document Reviewer47,200 ALL
Mortgage Funding Manager141,000 ALL
Mortgage Operations Manager191,000 ALL
Mortgage Payment Processing Clerk42,200 ALL
Mortgage Processing Manager125,000 ALL
Mortgage Processor49,200 ALL
Mortgage Quality Assurance Auditor110,000 ALL
Mortgage Quality Assurance Manager126,000 ALL
Mortgage Servicing Clerk38,100 ALL
Mortgage Servicing Manager121,000 ALL
Mortgage Underwriter47,200 ALL
Online Banking Manager194,000 ALL
Payment Processing Clerk39,600 ALL
Personal Banker83,200 ALL
Personal Banking Advisor 79,100 ALL
Phone Banker53,000 ALL
Private Banker81,000 ALL
Reconciliation and Investigation Specialist91,300 ALL
Teller38,600 ALL
Trade Officer45,200 ALL
Trade Product Manager130,000 ALL
Trader54,600 ALL
Treasury Operations Officer92,900 ALL

Banking Jobs Salary Distribution in Albania

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

  • Salary Range

    Banking salaries in Albania range from 32,900 ALL per month (minimum average salary) to 214,000 ALL per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 100,000 ALL per month, which means that half (50%) of people working in Banking are earning less than 100,000 ALL while the other half are earning more than 100,000 ALL. 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 59,900 ALL while 75% of them are earning more than 59,900 ALL. Also from the diagram, 75% of people working in Banking are earning less than 151,000 ALL while 25% are earning more than 151,000 ALL.


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 Albania costs anywhere from 480,000 Lek(s) to 1,440,000 Lek(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 Albania 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 Albania who work in Banking earn 7% more than their female counterparts on average.

Male
109,000 ALL
Female-7%
101,000 ALL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Albania for all Careers

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

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

Banking

Banking professionals in Albania 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 Albania 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.

Albania / 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 Albania is 2%.

Annual Increment Rate By Industry 2020

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 Albania 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 Albania

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

42% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 58% 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
58%
No Bonus
42%

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 Albania


600 ALL per hour

The average hourly wage (pay per hour) in Albania is 600 ALL. This means that the average person in Albania earns approximately 600 ALL 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 Albania
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Berat101,000 ALL
Durres114,000 ALL
Elbasan110,000 ALL
Fier106,000 ALL
Gjirokaster99,700 ALL
Korca104,000 ALL
Lezhe96,000 ALL
Sarande97,800 ALL
Shkodra109,000 ALL
Tirana116,000 ALL
Vlore113,000 ALL

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 Albania earn 14% more than their private sector counterparts on average across all sectors.

Private Sector
91,300 ALL
Public Sector+14%
104,000 ALL
Percentage increase and decrease are relative to the previous value

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