Banking Average Salaries in Denmark 2022
How much money does a person working in Banking make in Denmark?
LOW
13,900
DKK AVERAGE
44,200
DKK HIGH
90,700
DKK
A person working in Banking in Denmark typically earns around 44,200 DKK per month. Salaries range from 13,900 DKK (lowest average) to 90,700 DKK (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 Title | Average Salary |
| AML Analyst | 63,500 DKK |
| Assistant Bank Branch Manager | 54,600 DKK |
| Assistant Bank Manager | 68,600 DKK |
| ATM Manager | 61,400 DKK |
| ATM Service Technician | 16,200 DKK |
| Bank Accounts Analyst | 22,800 DKK |
| Bank Accounts Controller | 30,400 DKK |
| Bank Accounts Executive | 43,200 DKK |
| Bank Accounts Manager | 53,000 DKK |
| Bank Auditing Manager | 50,100 DKK |
| Bank Branch Manager | 70,300 DKK |
| Bank Clerk | 13,600 DKK |
| Bank Compliance Specialist | 39,300 DKK |
| Bank Manager | 80,000 DKK |
| Bank Operational Risk Manager | 82,400 DKK |
| Bank Operations Head | 88,900 DKK |
| Bank Operations Officer | 32,700 DKK |
| Bank Operations Specialist | 53,000 DKK |
| Bank Process Manager | 49,300 DKK |
| Bank Product Manager | 54,300 DKK |
| Bank Programme Manager | 59,600 DKK |
| Bank Project Manager | 67,800 DKK |
| Bank Propositions Manager | 57,800 DKK |
| Bank Quantitative Analyst | 43,900 DKK |
| Bank Regional Manager | 91,300 DKK |
| Bank Regional Risk Officer | 44,300 DKK |
| Bank Relationship Manager | 64,200 DKK |
| Bank Relationship Officer | 29,800 DKK |
| Banker | 30,600 DKK |
| Banking Business Analyst | 44,600 DKK |
| Banking Business Development Officer | 27,800 DKK |
| Banking Business Planning Executive | 64,900 DKK |
| Banking Product Manager | 53,900 DKK |
| Banking Reference Data Manager | 50,100 DKK |
| Banking Risk Analyst | 41,600 DKK |
| Banking Technical Analyst | 23,100 DKK |
| Bankruptcy Coordinator | 30,200 DKK |
| Budget Analyst | 43,200 DKK |
| Cards Marketing Manager | 53,800 DKK |
| Cash Management Manager | 74,500 DKK |
| Check Processing Manager | 58,400 DKK |
| Commercial Vault Associate | 41,600 DKK |
| Corporate Dealer | 45,800 DKK |
| Credit Analyst | 34,100 DKK |
| Credit and Collections Manager | 56,800 DKK |
| Credit Card Fraud Investigator | 46,100 DKK |
| Credit Portfolio Manager | 79,100 DKK |
| Credit Risk Analyst | 50,900 DKK |
| Credit Risk Associate | 46,900 DKK |
| Direct Bank Sales Representative | 30,300 DKK |
| Financial Bank Planning Consultant | 56,300 DKK |
| Financial Banking Analysis Manager | 64,000 DKK |
| Financial Banking Assistant | 22,000 DKK |
| Financial Banking Systems Manager | 60,200 DKK |
| Foreign Exchange Manager | 61,800 DKK |
| Fraud Analyst | 47,700 DKK |
| Fraud Detection Associate | 32,400 DKK |
| Fraud Detection Manager | 70,200 DKK |
| Fraud Detection Supervisor | 37,600 DKK |
| Internal Bank Audit Manager | 79,600 DKK |
| Internal Bank Auditor | 40,600 DKK |
| International Banking Manager | 90,900 DKK |
| Loan Analyst | 44,100 DKK |
| Loan Area Manager | 51,100 DKK |
| Loan Audit Team Leader | 47,800 DKK |
| Loan Branch Manager | 50,200 DKK |
| Loan Business Development Officer | 26,000 DKK |
| Loan Clerk | 16,100 DKK |
| Loan Collection Manager | 52,200 DKK |
| Loan Collector | 14,500 DKK |
| Loan Examiner | 18,500 DKK |
| Loan Processing Manager | 48,300 DKK |
| Loan Processor | 19,400 DKK |
| Loan Quality Assurance Auditor | 46,100 DKK |
| Loan Quality Assurance Manager | 49,200 DKK |
| Loan Quality Assurance Representative | 31,400 DKK |
| Loan Review Manager | 50,300 DKK |
| Loan Team Leader | 43,100 DKK |
| Mortgage Advisor | 31,400 DKK |
| Mortgage Collection Manager | 50,800 DKK |
| Mortgage Collector | 15,000 DKK |
| Mortgage Credit Analyst | 23,400 DKK |
| Mortgage Credit Manager | 47,100 DKK |
| Mortgage Development Manager | 57,300 DKK |
| Mortgage Document Reviewer | 18,700 DKK |
| Mortgage Funding Manager | 58,800 DKK |
| Mortgage Operations Manager | 77,900 DKK |
| Mortgage Payment Processing Clerk | 16,500 DKK |
| Mortgage Processing Manager | 49,900 DKK |
| Mortgage Processor | 20,800 DKK |
| Mortgage Quality Assurance Auditor | 45,200 DKK |
| Mortgage Quality Assurance Manager | 49,600 DKK |
| Mortgage Servicing Clerk | 15,400 DKK |
| Mortgage Servicing Manager | 46,900 DKK |
| Mortgage Underwriter | 17,700 DKK |
| Online Banking Manager | 74,100 DKK |
| Payment Processing Clerk | 16,000 DKK |
| Personal Banker | 32,000 DKK |
| Personal Banking Advisor | 31,500 DKK |
| Phone Banker | 21,000 DKK |
| Private Banker | 31,300 DKK |
| Reconciliation and Investigation Specialist | 34,300 DKK |
| Teller | 14,400 DKK |
| Trade Officer | 17,600 DKK |
| Trade Product Manager | 53,600 DKK |
| Trader | 21,500 DKK |
| Treasury Operations Officer | 39,300 DKK |
Banking Jobs Salary Distribution in Denmark
The median, the maximum, the minimum, and the range
Salary Range
Banking salaries in Denmark range from 13,900 DKK per month (minimum average salary) to 90,700 DKK per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 46,000 DKK per month, which means that half (50%) of people working in Banking are earning less than 46,000 DKK while the other half are earning more than 46,000 DKK. 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 26,900 DKK while 75% of them are earning more than 26,900 DKK. Also from the diagram, 75% of people working in Banking are earning less than 71,100 DKK while 25% are earning more than 71,100 DKK.
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?
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.
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Denmark costs anywhere from 203,000 Danish Krone(s) to 610,000 Danish Krone(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
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Denmark who work in Banking earn 4% more than their female counterparts on average.
| Male | 45,100 DKK | |
| Female | -4% | 43,300 DKK |
Salary Comparison By Gender in Denmark for all Careers
Banking Average Annual Salary Increment Percentage in Denmark
How much are annual salary increments in Denmark for Banking professionals? How often do employees get salary raises?
Banking
Banking professionals in Denmark are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.
Denmark / 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
Annual Increment Rate By Industry 2021
| Banking | 4% | |
| Energy | 8% | |
| Information Technology | 3% | |
| Healthcare | 7% | |
| Travel | 2% | |
| Construction | 6% | |
| Education | 1% |
Listed above are the average annual increase rates for each industry in Denmark for the year 2021. 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
Banking Bonus and Incentive Rates in Denmark
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/denmark/banking/annual-salary-bonus-rate-denmark-banking.jpg
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.
19% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 81% 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 | 81% | |
| No Bonus | 19% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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 Denmark
250 DKK per hourThe average hourly wage (pay per hour) in Denmark is 250 DKK. This means that the average person in Denmark earns approximately 250 DKK for every worked hour.
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
The average salary for Banking is 9% more than that of All Jobs.
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 Denmark earn 6% more than their private sector counterparts on average across all sectors.
| Private Sector | 39,500 DKK | |
| Public Sector | +6% | 41,800 DKK |
