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Bank Branch Manager Average Salary in Canada 2020

How much money does a Bank Branch Manager make in Canada?


Average Yearly Salary
224,000 CAD
( 18,600 CAD monthly)

LOW
107,000
CAD
AVERAGE
224,000
CAD
HIGH
351,000
CAD

A person working as a Bank Branch Manager in Canada typically earns around 224,000 CAD per year. Salaries range from 107,000 CAD (lowest) to 351,000 CAD (highest).

This is the average yearly salary including housing, transport, and other benefits. Bank Branch Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Bank Branch Manager Salary Distribution in Canada

Median and salary distribution yearly Canada Bank Branch Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Bank Branch Manager salaries in Canada range from 107,000 CAD per year (minimum salary) to 351,000 CAD per year (maximum salary).

  • Median Salary

    The median salary is 233,000 CAD per year, which means that half (50%) of people working as Bank Branch Manager(s) are earning less than 233,000 CAD while the other half are earning more than 233,000 CAD. 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 Bank Branch Manager(s) are earning less than 153,000 CAD while 75% of them are earning more than 153,000 CAD. Also from the diagram, 75% of Bank Branch Manager(s) are earning less than 304,000 CAD while 25% are earning more than 304,000 CAD.


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

Bank Branch Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience yearly Canada Bank Branch Manager
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Bank Branch Manager salaries by experience level and this is what we found.

A Bank Branch Manager with less than two years of experience makes approximately 126,000 CAD per year.

While someone with an experience level between two and five years is expected to earn 178,000 CAD per year, 42% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 234,000 CAD per year, 31% more than someone with two to five 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.

Additionally, Bank Branch Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 288,000 CAD per year, 23% 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 306,000 CAD per year, 6% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 335,000 CAD per year, 10% more than people with fifteen to twenty years of experience.


Bank Branch Manager average salary change by experience in Canada

0 - 2 Years
126,000 CAD
2 - 5 Years+42%
178,000 CAD
5 - 10 Years+31%
234,000 CAD
10 - 15 Years+23%
288,000 CAD
15 - 20 Years+6%
306,000 CAD
20+ Years+10%
335,000 CAD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Bank Branch Manager Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Bank Branch Manager(s) who have the same experience but different education levels.

Salary comparison by education level yearly Canada Bank Branch Manager
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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 Bank Branch Manager salaries by education level in order to make a comparison.

When the education level is Bachelor's Degree, the average salary of a Bank Branch Manager is 198,000 CAD per year.

While someone with a Master's Degree gets a salary of 283,000 CAD per year, 43% more than someone having a Bachelor's Degree degree.


Bank Branch Manager average salary difference by education level in Canada

Bachelor's Degree
198,000 CAD
Master's Degree+43%
283,000 CAD
Percentage increase and decrease are relative to the previous value

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 Canada costs anywhere from 49,800 Canadian Dollar(s) to 149,000 Canadian Dollar(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 the thoery. 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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Bank Branch Manager Salary Comparison By Gender

Salary comparison by gender yearly Canada Bank Branch Manager
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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 Bank Branch Manager employees in Canada earn 4% more than their female counterparts on average.

Male
229,000 CAD
Female-4%
219,000 CAD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Canada for all Careers

Salary comparison by gender yearly Canada
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Bank Branch Manager Average Annual Salary Increment Percentage in Canada

How much are annual salary increments in Canada for Bank Branch Manager(s)? How often do employees get salary raises?

Bank Branch Manager

Bank Branch Manager(s) in Canada are likely to observe a salary increase of approximately 14% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Canada Bank Branch Manager
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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.

Canada / 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 Canada is 7%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in Canada for the year 2019. 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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Bank Branch Manager Bonus and Incentive Rates in Canada

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Canada Bank Branch Manager
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A Bank Branch Manager is considered to be a high bonus-based job 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.

14% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 86% 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
86%
No Bonus
14%

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.

Bank Branch Manager Average Hourly Wage in Canada


110 CAD per hour

The average hourly wage (pay per hour) in Canada is 110 CAD. This means that the average Bank Branch Manager in Canada earns approximately 110 CAD 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.

Bank Branch Manager VS Other Jobs

Salary Comparison Between Bank Branch Manager and Banking yearly Canada
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The average salary for Bank Branch Manager is 72% more than that of Banking. Also, Banking salaries are 9% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
AML Analyst187,000 CAD-16%
Assistant Bank Branch Manager154,000 CAD-31%
Assistant Bank Manager218,000 CAD-3%
ATM Manager174,000 CAD-22%
ATM Service Technician49,700 CAD-78%
Bank Accounts Analyst71,200 CAD-68%
Bank Accounts Controller92,900 CAD-58%
Bank Accounts Executive130,000 CAD-42%
Bank Accounts Manager156,000 CAD-30%
Bank Auditing Manager150,000 CAD-33%
Bank Branch Manager224,000 CAD+0%
Bank Clerk41,500 CAD-81%
Bank Compliance Specialist118,000 CAD-47%
Bank Manager245,000 CAD+9%
Bank Operational Risk Manager242,000 CAD+8%
Bank Operations Head256,000 CAD+14%
Bank Operations Officer102,000 CAD-54%
Bank Operations Specialist159,000 CAD-29%
Bank Process Manager148,000 CAD-34%
Bank Product Manager 169,000 CAD-24%
Bank Programme Manager168,000 CAD-25%
Bank Project Manager203,000 CAD-9%
Bank Propositions Manager181,000 CAD-19%
Bank Quantitative Analyst121,000 CAD-46%
Bank Regional Manager253,000 CAD+13%
Bank Regional Risk Officer130,000 CAD-42%
Bank Relationship Manager193,000 CAD-14%
Bank Relationship Officer86,100 CAD-62%
Banker91,800 CAD-59%
Banking Business Analyst134,000 CAD-40%
Banking Business Development Officer81,800 CAD-63%
Banking Business Planning Executive195,000 CAD-13%
Banking Product Manager159,000 CAD-29%
Banking Reference Data Manager142,000 CAD-37%
Banking Risk Analyst133,000 CAD-41%
Banking Technical Analyst73,400 CAD-67%
Bankruptcy Coordinator98,100 CAD-56%
Budget Analyst132,000 CAD-41%
Cards Marketing Manager168,000 CAD-25%
Cash Management Manager237,000 CAD+6%
Check Processing Manager165,000 CAD-26%
Commercial Vault Associate135,000 CAD-40%
Corporate Dealer143,000 CAD-36%
Credit Analyst100,000 CAD-55%
Credit and Collections Manager181,000 CAD-19%
Credit Card Fraud Investigator130,000 CAD-42%
Credit Portfolio Manager242,000 CAD+8%
Credit Risk Analyst144,000 CAD-36%
Credit Risk Associate138,000 CAD-38%
Direct Bank Sales Representative92,900 CAD-58%
Financial Bank Planning Consultant165,000 CAD-26%
Financial Banking Analysis Manager188,000 CAD-16%
Financial Banking Assistant63,400 CAD-72%
Financial Banking Systems Manager188,000 CAD-16%
Foreign Exchange Manager189,000 CAD-16%
Fraud Analyst143,000 CAD-36%
Fraud Detection Associate97,300 CAD-57%
Fraud Detection Manager202,000 CAD-10%
Fraud Detection Supervisor110,000 CAD-51%
Internal Bank Audit Manager248,000 CAD+11%
Internal Bank Auditor124,000 CAD-45%
International Banking Manager273,000 CAD+22%
Loan Analyst124,000 CAD-45%
Loan Area Manager163,000 CAD-27%
Loan Audit Team Leader152,000 CAD-32%
Loan Branch Manager142,000 CAD-37%
Loan Business Development Officer79,500 CAD-64%
Loan Clerk48,200 CAD-78%
Loan Collection Manager153,000 CAD-32%
Loan Collector45,100 CAD-80%
Loan Examiner56,600 CAD-75%
Loan Processing Manager145,000 CAD-35%
Loan Processor56,900 CAD-75%
Loan Quality Assurance Auditor133,000 CAD-41%
Loan Quality Assurance Manager154,000 CAD-31%
Loan Quality Assurance Representative96,200 CAD-57%
Loan Review Manager151,000 CAD-33%
Loan Team Leader140,000 CAD-37%
Mortgage Advisor90,500 CAD-60%
Mortgage Collection Manager159,000 CAD-29%
Mortgage Collector41,600 CAD-81%
Mortgage Credit Analyst70,200 CAD-69%
Mortgage Credit Manager153,000 CAD-32%
Mortgage Development Manager165,000 CAD-26%
Mortgage Document Reviewer58,400 CAD-74%
Mortgage Funding Manager163,000 CAD-27%
Mortgage Operations Manager238,000 CAD+6%
Mortgage Payment Processing Clerk49,400 CAD-78%
Mortgage Processing Manager150,000 CAD-33%
Mortgage Processor61,100 CAD-73%
Mortgage Quality Assurance Auditor133,000 CAD-41%
Mortgage Quality Assurance Manager143,000 CAD-36%
Mortgage Servicing Clerk44,300 CAD-80%
Mortgage Servicing Manager146,000 CAD-35%
Mortgage Underwriter55,500 CAD-75%
Online Banking Manager241,000 CAD+8%
Payment Processing Clerk46,100 CAD-79%
Personal Banker92,200 CAD-59%
Personal Banking Advisor 96,400 CAD-57%
Phone Banker65,500 CAD-71%
Private Banker97,700 CAD-56%
Reconciliation and Investigation Specialist107,000 CAD-52%
Teller46,700 CAD-79%
Trade Officer52,900 CAD-76%
Trade Product Manager158,000 CAD-29%
Trader61,900 CAD-72%
Treasury Operations Officer116,000 CAD-48%

Salary Comparison By City

CityAverage Salary
Brampton208,000 CAD
Calgary226,000 CAD
Edmonton223,000 CAD
Gatineau207,000 CAD
Halifax204,000 CAD
Hamilton211,000 CAD
Kitchener222,000 CAD
Markham201,000 CAD
Mississauga218,000 CAD
Montreal245,000 CAD
Ottawa221,000 CAD
Quebec228,000 CAD
Regina198,000 CAD
Richmond202,000 CAD
Saskatoon201,000 CAD
Surrey223,000 CAD
Toronto232,000 CAD
Vancouver244,000 CAD
Vaughan196,000 CAD
Windsor193,000 CAD
Winnipeg224,000 CAD

Salary Comparison By State

StateAverage Salary
Alberta244,000 CAD
British Columbia226,000 CAD
Manitoba214,000 CAD
New Brunswick202,000 CAD
Newfoundland-Labrador197,000 CAD
Northwest Territories218,000 CAD
Nova Scotia205,000 CAD
Nunavut225,000 CAD
Ontario242,000 CAD
Prince Edward Island186,000 CAD
Quebec236,000 CAD
Saskatchewan206,000 CAD
Yukon188,000 CAD

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 Canada earn 4% more than their private sector counterparts on average across all sectors.

Private Sector
117,000 CAD
Public Sector+4%
122,000 CAD
Percentage increase and decrease are relative to the previous value

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