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Banking Average Salaries in Bulgaria 2023

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

Average Monthly Salary
3,590 BGN
( 43,100 BGN yearly)


A person working in Banking in Bulgaria typically earns around 3,590 BGN per month. Salaries range from 1,130 BGN (lowest average) to 7,370 BGN (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 Analyst4,910 BGN
Assistant Bank Branch Manager4,330 BGN
Assistant Bank Manager5,720 BGN
ATM Manager4,990 BGN
ATM Service Technician1,290 BGN
Bank Accounts Analyst1,900 BGN
Bank Accounts Controller2,470 BGN
Bank Accounts Executive3,780 BGN
Bank Accounts Manager4,100 BGN
Bank Auditing Manager4,280 BGN
Bank Branch Manager5,710 BGN
Bank Clerk1,130 BGN
Bank Compliance Specialist3,200 BGN
Bank Manager7,190 BGN
Bank Operational Risk Manager6,690 BGN
Bank Operations Head6,870 BGN
Bank Operations Officer2,870 BGN
Bank Operations Specialist4,200 BGN
Bank Process Manager3,810 BGN
Bank Product Manager 4,520 BGN
Bank Programme Manager4,720 BGN
Bank Project Manager5,510 BGN
Bank Propositions Manager5,070 BGN
Bank Quantitative Analyst3,390 BGN
Bank Regional Manager7,610 BGN
Bank Regional Risk Officer3,880 BGN
Bank Relationship Manager5,220 BGN
Bank Relationship Officer2,430 BGN
Banker2,490 BGN
Banking Business Analyst3,720 BGN
Banking Business Development Officer2,260 BGN
Banking Business Planning Executive5,150 BGN
Banking Product Manager4,380 BGN
Banking Reference Data Manager4,080 BGN
Banking Risk Analyst3,740 BGN
Banking Technical Analyst2,020 BGN
Bankruptcy Coordinator2,580 BGN
Budget Analyst3,690 BGN
Cards Marketing Manager4,480 BGN
Cash Management Manager6,530 BGN
Check Processing Manager4,980 BGN
Commercial Vault Associate3,740 BGN
Corporate Dealer3,720 BGN
Credit Analyst2,990 BGN
Credit and Collections Manager4,860 BGN
Credit Card Fraud Investigator3,840 BGN
Credit Portfolio Manager6,590 BGN
Credit Risk Analyst4,240 BGN
Credit Risk Associate3,910 BGN
Direct Bank Sales Representative2,720 BGN
Financial Bank Planning Consultant4,930 BGN
Financial Banking Analysis Manager5,470 BGN
Financial Banking Assistant1,830 BGN
Financial Banking Systems Manager4,900 BGN
Foreign Exchange Manager5,410 BGN
Fraud Analyst3,880 BGN
Fraud Detection Associate2,770 BGN
Fraud Detection Manager5,850 BGN
Fraud Detection Supervisor3,130 BGN
Internal Bank Audit Manager6,970 BGN
Internal Bank Auditor3,470 BGN
International Banking Manager7,580 BGN
Loan Analyst3,490 BGN
Loan Area Manager4,590 BGN
Loan Audit Team Leader4,300 BGN
Loan Branch Manager3,980 BGN
Loan Business Development Officer2,220 BGN
Loan Clerk1,340 BGN
Loan Collection Manager4,240 BGN
Loan Collector1,230 BGN
Loan Examiner1,540 BGN
Loan Processing Manager3,930 BGN
Loan Processor1,700 BGN
Loan Quality Assurance Auditor3,560 BGN
Loan Quality Assurance Manager4,100 BGN
Loan Quality Assurance Representative2,820 BGN
Loan Review Manager3,980 BGN
Loan Team Leader3,680 BGN
Mortgage Advisor2,620 BGN
Mortgage Collection Manager4,120 BGN
Mortgage Collector1,190 BGN
Mortgage Credit Analyst2,000 BGN
Mortgage Credit Manager3,930 BGN
Mortgage Development Manager4,660 BGN
Mortgage Document Reviewer1,640 BGN
Mortgage Funding Manager4,550 BGN
Mortgage Operations Manager6,490 BGN
Mortgage Payment Processing Clerk1,340 BGN
Mortgage Processing Manager4,160 BGN
Mortgage Processor1,690 BGN
Mortgage Quality Assurance Auditor3,580 BGN
Mortgage Quality Assurance Manager4,240 BGN
Mortgage Servicing Clerk1,220 BGN
Mortgage Servicing Manager4,010 BGN
Mortgage Underwriter1,480 BGN
Online Banking Manager6,650 BGN
Payment Processing Clerk1,270 BGN
Personal Banker2,670 BGN
Personal Banking Advisor 2,830 BGN
Phone Banker1,840 BGN
Private Banker2,670 BGN
Reconciliation and Investigation Specialist2,860 BGN
Teller1,260 BGN
Trade Officer1,430 BGN
Trade Product Manager4,250 BGN
Trader1,840 BGN
Treasury Operations Officer3,190 BGN

Banking Jobs Salary Distribution in Bulgaria

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

  • Salary Range

    Banking salaries in Bulgaria range from 1,130 BGN per month (minimum average salary) to 7,370 BGN per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 3,660 BGN per month, which means that half (50%) of people working in Banking are earning less than 3,660 BGN while the other half are earning more than 3,660 BGN. 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 2,160 BGN while 75% of them are earning more than 2,160 BGN. Also from the diagram, 75% of people working in Banking are earning less than 5,630 BGN while 25% are earning more than 5,630 BGN.

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 Bulgaria costs anywhere from 16,500 Bulgarian Lev(s) to 49,500 Bulgarian Lev(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 Bulgaria 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 Bulgaria who work in Banking earn 6% more than their female counterparts on average.

3,690 BGN
3,470 BGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bulgaria for all Careers

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

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


Banking professionals in Bulgaria are likely to observe a salary increase of approximately 9% every 18 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria 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.

Bulgaria / 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 Bulgaria is 4%.

Annual Increment Rate By Industry 2022

Information Technology

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

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

24% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 76% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% 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 Bulgaria

21 BGN per hour

The average hourly wage (pay per hour) in Bulgaria is 21 BGN. This means that the average person in Bulgaria earns approximately 21 BGN 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 Bulgaria
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The average salary for Banking is 9% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Burgas3,750 BGN
Plovdiv4,040 BGN
Rousse3,670 BGN
Sofia4,190 BGN
Stara Zagora3,520 BGN
Varna3,890 BGN

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 Bulgaria earn 9% more than their private sector counterparts on average across all sectors.

Private Sector
3,130 BGN
Public Sector+9%
3,420 BGN
Percentage increase and decrease are relative to the previous value

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