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Foreign Exchange Manager Average Salary in Cote Divoire 2024

How much money does a person working as Foreign Exchange Manager make in Cote Divoire?


Average Monthly Salary
531,000 XOF
( 6,370,000 XOF yearly)

LOW
281,000
XOF
AVERAGE
531,000
XOF
HIGH
807,000
XOF
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 Foreign Exchange Manager in Cote Divoire typically earns around 531,000 XOF. Salaries range from 281,000 XOF (lowest) to 807,000 XOF (highest).


Salary Variance

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



Foreign Exchange Manager Pay Scale and Salaries in Cote Divoire

Median and salary distribution Cote Divoire Foreign Exchange Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
477,000 XOF or more
10% of people earn
426,000 to 477,000 XOF
20% of people earn
314,000 XOF or less
65% of people earn
314,000 to 426,000 XOF
Minimum Salary
281,000 XOF
Median
479,000 XOF
Maximum
807,000 XOF




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 Foreign Exchange Manager in Cote Divoire range from 281,000 XOF (starting salary) to 807,000 XOF (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 479,000 XOF, half of the professionals who work as Foreign Exchange Manager in Cote Divoire 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 Foreign Exchange Manager in Cote Divoire earn less than 399,000 XOF, while 75% earn more. Similarly, the chart shows that 75% earn less than 542,000 XOF 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 Foreign Exchange Manager in Cote Divoire compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 314,000 XOF to 426,000 XOF. About 20% of salaries are below the 314,000 XOF mark, while 10% fall within the range of 426,000 XOF to 477,000 XOF. Only 5% of individuals have salaries exceeding 477,000 XOF.

Salary Comparison by Years of Experience / Foreign Exchange Manager / Cote Divoire

How do experience and age affect pay?

0 - 2 Years
323,000 XOF
2 - 5 Years+23%
397,000 XOF
5 - 10 Years+42%
562,000 XOF
10 - 15 Years+17%
657,000 XOF
15 - 20 Years+10%
723,000 XOF
20+ Years+6%
765,000 XOF
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Cote Divoire Foreign Exchange 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 the wage. We broke down salaries by experience level for people working as Foreign Exchange Manager 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 323,000 XOF.

While someone with an experience level between two and five years is expected to earn 397,000 XOF, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 562,000 XOF, 42% 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 657,000 XOF, 17% 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 723,000 XOF, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 765,000 XOF, 6% 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 / Foreign Exchange Manager / Cote Divoire

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Foreign Exchange Manager.

Bachelor's Degree
365,000 XOF
Master's Degree+93%
707,000 XOF
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Cote Divoire Foreign Exchange 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 salaries by education level for the position Foreign Exchange Manager in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 365,000 XOF.


Level 2: Master's Degree

At this level, the average salary becomes 707,000 XOF, 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 Cote Divoire costs anywhere from 1,690,000 XOF to 5,070,000 XOF 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 / Foreign Exchange Manager / Cote Divoire

Salary comparison by gender Cote Divoire Foreign Exchange Manager 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 Foreign Exchange Manager in Cote Divoire, the average difference between the salary of male and female employees is 15%.

Male
559,000 XOF
Female-13%
485,000 XOF
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Cote Divoire for all Careers

Salary comparison by gender monthly Cote Divoire
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Average Annual Salary Increment Percentage / Foreign Exchange Manager / Cote Divoire

How much are annual salary increments in Cote Divoire for individuals working as Foreign Exchange Manager? How often do employees get salary raises?

Individuals working as Foreign Exchange Manager in Cote Divoire are likely to observe a salary increase of approximately 8% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Cote Divoire Foreign Exchange 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.

Cote Divoire / All Professions

Annual Salary Increment Rate Cote Divoire
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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 Cote Divoire 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 / Foreign Exchange Manager / Cote Divoire

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Cote Divoire Foreign Exchange Manager
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39% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 61% 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
61%
No Bonus
39%

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 / Foreign Exchange Manager / Cote Divoire


3,060 XOF per hour

The average hourly wage (pay per hour) for individuals working as Foreign Exchange Manager in Cote Divoire is 3,060 XOF.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 Foreign Exchange Manager in Cote Divoire is 1,620 XOF. 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 Analyst501,000 XOF-6%
Assistant Bank Branch Manager459,000 XOF-14%
Assistant Bank Manager595,000 XOF+12%
ATM Manager480,000 XOF-10%
ATM Service Technician139,000 XOF-74%
Bank Accounts Analyst202,000 XOF-62%
Bank Accounts Collector117,000 XOF-78%
Bank Accounts Controller242,000 XOF-54%
Bank Accounts Executive378,000 XOF-29%
Bank Accounts Manager418,000 XOF-21%
Bank Auditing Manager428,000 XOF-19%
Bank Branch Manager595,000 XOF+12%
Bank Branch Operations Coordinator270,000 XOF-49%
Bank Clerk111,000 XOF-79%
Bank Client Service Associate169,000 XOF-68%
Bank Collector117,000 XOF-78%
Bank Compliance Specialist320,000 XOF-40%
Bank Manager705,000 XOF+33%
Bank Operational Risk Manager683,000 XOF+29%
Bank Operations Head716,000 XOF+35%
Bank Operations Officer276,000 XOF-48%
Bank Operations Specialist420,000 XOF-21%
Bank Process Manager381,000 XOF-28%
Bank Product Manager 434,000 XOF-18%
Bank Programme Manager501,000 XOF-6%
Bank Project Manager551,000 XOF+4%
Bank Propositions Manager487,000 XOF-8%
Bank Quantitative Analyst367,000 XOF-31%
Bank Regional Manager746,000 XOF+41%
Bank Regional Risk Officer358,000 XOF-33%
Bank Relationship Manager522,000 XOF-2%
Bank Relationship Officer228,000 XOF-57%
Bank Sustainability Analyst430,000 XOF-19%
Bank Teller120,000 XOF-77%
Banker249,000 XOF-53%
Banking Business Analyst372,000 XOF-30%
Banking Business Development Officer231,000 XOF-56%
Banking Business Planning Executive515,000 XOF-3%
Banking Data Analyst422,000 XOF-20%
Banking Product Manager447,000 XOF-16%
Banking Reference Data Manager392,000 XOF-26%
Banking Regulatory Compliance Officer412,000 XOF-22%
Banking Risk Analyst352,000 XOF-34%
Banking Technical Analyst190,000 XOF-64%
Bankruptcy Coordinator263,000 XOF-50%
Bill and Account Collector135,000 XOF-75%
Blockchain Analyst313,000 XOF-41%
Blockchain Architect347,000 XOF-35%
Blockchain Auditor324,000 XOF-39%
Blockchain Compliance Analyst319,000 XOF-40%
Blockchain Consultant353,000 XOF-33%
Blockchain Trade Facilitator295,000 XOF-44%
Budget Analyst361,000 XOF-32%
Capital Risk Manager678,000 XOF+28%
Cards Marketing Manager476,000 XOF-10%
Cash Management Manager614,000 XOF+16%
Check Processing Manager479,000 XOF-10%
Chief Blockchain Officer422,000 XOF-20%
Commercial Vault Associate345,000 XOF-35%
Corporate Banker253,000 XOF-52%
Corporate Dealer395,000 XOF-26%
Credit Analyst276,000 XOF-48%
Credit and Collections Manager505,000 XOF-5%
Credit Card Fraud Investigator369,000 XOF-30%
Credit Portfolio Manager714,000 XOF+35%
Credit Risk Analyst408,000 XOF-23%
Credit Risk Associate399,000 XOF-25%
Cryptocurrency Accountant224,000 XOF-58%
Cryptocurrency Adviser458,000 XOF-14%
Cryptocurrency Analyst327,000 XOF-38%
Cryptocurrency Compliance Manager429,000 XOF-19%
Cryptocurrency Trader366,000 XOF-31%
Digital Banking Manager487,000 XOF-8%
Digital Currency Analyst344,000 XOF-35%
Direct Bank Sales Representative267,000 XOF-50%
Exchange Control Consultant394,000 XOF-26%
Executive Account Analyst360,000 XOF-32%
Financial Bank Planning Consultant455,000 XOF-14%
Financial Banking Analysis Manager558,000 XOF+5%
Financial Banking Assistant173,000 XOF-67%
Financial Banking Systems Manager520,000 XOF-2%
Foreign Exchange Manager531,000 XOF+0%
Fraud Analyst388,000 XOF-27%
Fraud Detection Associate277,000 XOF-48%
Fraud Detection Manager551,000 XOF+4%
Fraud Detection Supervisor319,000 XOF-40%
Internal Bank Audit Manager670,000 XOF+26%
Internal Bank Auditor340,000 XOF-36%
Internal Private Banker268,000 XOF-50%
International Banking Manager758,000 XOF+43%
Investment Banking Analyst544,000 XOF+3%
Loan Analyst371,000 XOF-30%
Loan Area Manager432,000 XOF-19%
Loan Audit Team Leader405,000 XOF-24%
Loan Branch Manager422,000 XOF-20%
Loan Business Development Officer217,000 XOF-59%
Loan Clerk134,000 XOF-75%
Loan Collection and Recovery Manager456,000 XOF-14%
Loan Collection Manager433,000 XOF-18%
Loan Collector119,000 XOF-78%
Loan Examiner167,000 XOF-69%
Loan Officer142,000 XOF-73%
Loan Processing Manager393,000 XOF-26%
Loan Processor173,000 XOF-67%
Loan Quality Assurance Auditor371,000 XOF-30%
Loan Quality Assurance Manager394,000 XOF-26%
Loan Quality Assurance Representative277,000 XOF-48%
Loan Review Manager398,000 XOF-25%
Loan Team Leader376,000 XOF-29%
Loans Manager507,000 XOF-4%
Mortgage Advisor246,000 XOF-54%
Mortgage Collection Manager438,000 XOF-17%
Mortgage Collector117,000 XOF-78%
Mortgage Credit Analyst200,000 XOF-62%
Mortgage Credit Manager401,000 XOF-24%
Mortgage Development Manager485,000 XOF-9%
Mortgage Document Reviewer157,000 XOF-70%
Mortgage Funding Manager493,000 XOF-7%
Mortgage Operations Manager636,000 XOF+20%
Mortgage Payment Processing Clerk134,000 XOF-75%
Mortgage Processing Manager416,000 XOF-22%
Mortgage Processor172,000 XOF-68%
Mortgage Quality Assurance Auditor365,000 XOF-31%
Mortgage Quality Assurance Manager399,000 XOF-25%
Mortgage Servicing Clerk127,000 XOF-76%
Mortgage Servicing Manager425,000 XOF-20%
Mortgage Underwriter157,000 XOF-70%
Online Banking Manager614,000 XOF+16%
Open Banking Strategist361,000 XOF-32%
Payment Processing Clerk132,000 XOF-75%
Personal Banker277,000 XOF-48%
Personal Banking Advisor 277,000 XOF-48%
Phone Banker177,000 XOF-67%
Private Banker257,000 XOF-52%
Reconciliation and Investigation Specialist304,000 XOF-43%
Tax Officer227,000 XOF-57%
Teller129,000 XOF-76%
Trade Officer143,000 XOF-73%
Trade Product Manager433,000 XOF-18%
Trader173,000 XOF-67%
Treasury Operations Officer326,000 XOF-39%
Wealth Management Advisor509,000 XOF-4%

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 Cote Divoire is 17% on average across all career fields.

Private Sector
315,000 XOF
Public Sector+17%
369,000 XOF
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 Foreign Exchange Manager in Cote Divoire?

A good and competitive compensation would range anywhere between 479,000 XOF and 542,000 XOF. 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 Foreign Exchange Manager in Cote Divoire ranges from 281,000 XOF to 399,000 XOF. 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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