AML Analyst Average Salary in Ghana 2023
How much money does a person working as AML Analyst make in Ghana?
LOW
3,500
GHS AVERAGE
7,620
GHS HIGH
12,100
GHS
A person working as AML Analyst in Ghana typically earns around 7,620 GHS per month. Salaries range from 3,500 GHS (lowest) to 12,100 GHS (highest).
This is the average monthly salary including housing, transport, and other benefits. AML Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
AML Analyst Pay Scale and Salaries in Ghana
Salary Structure and Pay Scale Comparison
7,230 GHS or more
6,330 to 7,230 GHS
4,360 GHS or less
4,360 to 6,330 GHS
 3,500 GHS |
7,280 GHS |
12,100 GHS |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
AML Analyst salaries in Ghana range from 3,500 GHS per month (starting salary) to 12,100 GHS per month (maximum salary). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
Median Salary
The median salary is 7,280 GHS per month, which means that half (50%) of people working as AML Analyst(s) are earning less than 7,280 GHS while the other half are earning more than 7,280 GHS. 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 and Salary Scale
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of AML Analyst(s) are earning less than 5,870 GHS while 75% of them are earning more than 5,870 GHS. Also from the diagram, 75% of AML Analyst(s) are earning less than 8,390 GHS while 25% are earning more than 8,390 GHS.
Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 4,360 GHS to 6,330 GHS. Approximatly 20% fall under the 4,360 GHS cap. Ten percent of wages are from 6,330 GHS to 7,230 GHS. Only 5% of people grossed 7,230 GHS or more.
AML Analyst Salary Comparison by Years of Experience
How does experience and age affect your pay?
AML Analyst average salary change by experience in Ghana
| 0 - 2 Years | 3,980 GHS | |
| 2 - 5 Years | +34% | 5,310 GHS |
| 5 - 10 Years | +48% | 7,850 GHS |
| 10 - 15 Years | +22% | 9,570 GHS |
| 15 - 20 Years | +9% | 10,400 GHS |
| 20+ Years | +8% | 11,300 GHS |
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 AML Analyst salaries by experience level and this is what we found.
Employees with less than two years of experience makes approximately 3,980 GHS per month.
While someone with an experience level between two and five years is expected to earn 5,310 GHS per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 7,850 GHS per month, 48% more than someone with two to five years of experience.
Additionally, AML Analyst whose expertise span anywhere between ten and fifteen years get a salary equivalent to 9,570 GHS per month, 22% 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 10,400 GHS per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 11,300 GHS per month, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
AML Analyst Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different AML Analyst(s) who have the same experience but different education levels.
AML Analyst average salary difference by education level in Ghana
| Certificate or Diploma | 4,540 GHS | |
| Bachelor's Degree | +57% | 7,120 GHS |
| Master's Degree | +68% | 11,900 GHS |
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 AML Analyst salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary is 4,540 GHS per month.
While someone with a Bachelor's Degree gets a salary of 7,120 GHS per month, 57% more than someone having a Certificate or Diploma degree.
People with Master's Degree have an average salary of 11,900 GHS per month, 68% more than someone with a Bachelor's Degree.
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 Ghana costs anywhere from 25,300 Cedi(s) to 76,000 Cedi(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 and Compensation Comparison By Gender - AML Analyst
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male AML Analyst employees in Ghana earn 13% more than their female counterparts on average.
| Male | 8,090 GHS | |
| Female | -12% | 7,150 GHS |
Salary Comparison By Gender in Ghana for all Careers
AML Analyst Average Annual Salary Increment Percentage in Ghana
How much are annual salary increments in Ghana for AML Analyst(s)? How often do employees get salary raises?
AML Analyst
AML Analyst(s) in Ghana are likely to observe a salary increase of approximately 12% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 19 months.
Ghana / 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 2022
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in Ghana 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
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.
AML Analyst Bonus and Incentive Rates in Ghana
How much and how often are bonuses being awarded?
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"AML Analyst" is considered to be a high bonus-based job. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
19% of surveyed staff 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.
AML Analyst Salary Trend and Forecast in Ghana
How are AML Analyst salaries changing over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 6,590 GHS | |
| Average Salary 2020 | +4% | 6,830 GHS |
| Average Salary 2021 | +4% | 7,090 GHS |
| Average Salary 2022 | +4% | 7,350 GHS |
AML Analyst salaries in Ghana are on the rise in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 4% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
AML Analyst Average Hourly Wage in Ghana
44 GHS per hourThe average hourly wage (pay per hour) in Ghana is 44 GHS. This means that the average AML Analyst in Ghana earns approximately 44 GHS for every worked hour.
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 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.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for 'AML Analyst' in Ghana is 20 GHS. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
AML Analyst VS Other Jobs
The average salary for AML Analyst is 38% more than that of Banking. Also, Banking salaries are 9% more than those of All Jobs.
Salary comparison with similar jobs
| Job Title | Average Salary |
| AML Analyst | 7,620 GHS |  +0% |
| Assistant Bank Branch Manager | 6,340 GHS |  -17% |
| Assistant Bank Manager | 8,430 GHS | +11% |
| ATM Manager | 6,990 GHS | -8% |
| ATM Service Technician | 1,890 GHS | -75% |
| Bank Accounts Analyst | 2,980 GHS | -61% |
| Bank Accounts Controller | 3,830 GHS | -50% |
| Bank Accounts Executive | 5,580 GHS | -27% |
| Bank Accounts Manager | 6,360 GHS | -17% |
| Bank Auditing Manager | 6,610 GHS | -13% |
| Bank Branch Manager | 8,810 GHS | +16% |
| Bank Clerk | 1,640 GHS | -78% |
| Bank Compliance Specialist | 4,420 GHS | -42% |
| Bank Manager | 10,300 GHS | +35% |
| Bank Operational Risk Manager | 9,670 GHS | +27% |
| Bank Operations Head | 10,900 GHS | +43% |
| Bank Operations Officer | 4,280 GHS | -44% |
| Bank Operations Specialist | 6,330 GHS | -17% |
| Bank Process Manager | 5,540 GHS | -27% |
| Bank Product Manager | 6,820 GHS | -10% |
| Bank Programme Manager | 6,920 GHS | -9% |
| Bank Project Manager | 8,260 GHS | +8% |
| Bank Propositions Manager | 7,130 GHS | -6% |
| Bank Quantitative Analyst | 5,320 GHS | -30% |
| Bank Regional Manager | 10,900 GHS | +43% |
| Bank Regional Risk Officer | 5,640 GHS | -26% |
| Bank Relationship Manager | 7,820 GHS | +3% |
| Bank Relationship Officer | 3,660 GHS | -52% |
| Banker | 3,580 GHS | -53% |
| Banking Business Analyst | 5,440 GHS | -29% |
| Banking Business Development Officer | 3,470 GHS | -54% |
| Banking Business Planning Executive | 7,440 GHS | -2% |
| Banking Product Manager | 6,330 GHS | -17% |
| Banking Reference Data Manager | 5,710 GHS | -25% |
| Banking Risk Analyst | 5,430 GHS | -29% |
| Banking Technical Analyst | 2,830 GHS | -63% |
| Bankruptcy Coordinator | 3,690 GHS | -52% |
| Budget Analyst | 5,130 GHS | -33% |
| Cards Marketing Manager | 7,030 GHS | -8% |
| Cash Management Manager | 9,520 GHS | +25% |
| Check Processing Manager | 6,920 GHS | -9% |
| Commercial Vault Associate | 5,090 GHS | -33% |
| Corporate Dealer | 5,640 GHS | -26% |
| Credit Analyst | 4,340 GHS | -43% |
| Credit and Collections Manager | 7,410 GHS | -3% |
| Credit Card Fraud Investigator | 5,580 GHS | -27% |
| Credit Portfolio Manager | 9,990 GHS | +31% |
| Credit Risk Analyst | 5,910 GHS | -22% |
| Credit Risk Associate | 5,970 GHS | -22% |
| Direct Bank Sales Representative | 3,750 GHS | -51% |
| Financial Bank Planning Consultant | 7,160 GHS | -6% |
| Financial Banking Analysis Manager | 7,510 GHS | -1% |
| Financial Banking Assistant | 2,650 GHS | -65% |
| Financial Banking Systems Manager | 7,430 GHS | -2% |
| Foreign Exchange Manager | 7,800 GHS | +2% |
| Fraud Analyst | 5,590 GHS | -27% |
| Fraud Detection Associate | 3,800 GHS | -50% |
| Fraud Detection Manager | 7,950 GHS | +4% |
| Fraud Detection Supervisor | 4,500 GHS | -41% |
| Internal Bank Audit Manager | 10,000 GHS | +31% |
| Internal Bank Auditor | 5,230 GHS | -31% |
| International Banking Manager | 10,900 GHS | +43% |
| Loan Analyst | 5,330 GHS | -30% |
| Loan Area Manager | 6,660 GHS | -13% |
| Loan Audit Team Leader | 6,240 GHS | -18% |
| Loan Branch Manager | 6,070 GHS | -20% |
| Loan Business Development Officer | 3,210 GHS | -58% |
| Loan Clerk | 1,840 GHS | -76% |
| Loan Collection Manager | 6,120 GHS | -20% |
| Loan Collector | 1,780 GHS | -77% |
| Loan Examiner | 2,330 GHS | -69% |
| Loan Processing Manager | 5,660 GHS | -26% |
| Loan Processor | 2,320 GHS | -70% |
| Loan Quality Assurance Auditor | 5,660 GHS | -26% |
| Loan Quality Assurance Manager | 6,190 GHS | -19% |
| Loan Quality Assurance Representative | 4,050 GHS | -47% |
| Loan Review Manager | 6,010 GHS | -21% |
| Loan Team Leader | 5,270 GHS | -31% |
| Mortgage Advisor | 3,560 GHS | -53% |
| Mortgage Collection Manager | 6,510 GHS | -15% |
| Mortgage Collector | 1,790 GHS | -77% |
| Mortgage Credit Analyst | 2,850 GHS | -63% |
| Mortgage Credit Manager | 5,890 GHS | -23% |
| Mortgage Development Manager | 6,620 GHS | -13% |
| Mortgage Document Reviewer | 2,450 GHS | -68% |
| Mortgage Funding Manager | 7,140 GHS | -6% |
| Mortgage Operations Manager | 9,630 GHS | +26% |
| Mortgage Payment Processing Clerk | 2,090 GHS | -73% |
| Mortgage Processing Manager | 6,200 GHS | -19% |
| Mortgage Processor | 2,390 GHS | -69% |
| Mortgage Quality Assurance Auditor | 5,310 GHS | -30% |
| Mortgage Quality Assurance Manager | 5,970 GHS | -22% |
| Mortgage Servicing Clerk | 1,820 GHS | -76% |
| Mortgage Servicing Manager | 5,660 GHS | -26% |
| Mortgage Underwriter | 2,190 GHS | -71% |
| Online Banking Manager | 9,060 GHS | +19% |
| Payment Processing Clerk | 1,810 GHS | -76% |
| Personal Banker | 3,770 GHS | -51% |
| Personal Banking Advisor | 3,900 GHS | -49% |
| Phone Banker | 2,640 GHS | -65% |
| Private Banker | 4,010 GHS | -47% |
| Reconciliation and Investigation Specialist | 4,240 GHS | -44% |
| Teller | 1,790 GHS | -77% |
| Trade Officer | 2,240 GHS | -71% |
| Trade Product Manager | 6,300 GHS | -17% |
| Trader | 2,590 GHS | -66% |
| Treasury Operations Officer | 4,900 GHS | -36% |
Salary Comparison By City
| City | Average Salary |
| Accra | 7,940 GHS |
| Kumasi | 8,240 GHS |
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 Ghana earn 8% more than their private sector counterparts on average across all sectors.
| Private Sector | 4,860 GHS | |
| Public Sector | +8% | 5,230 GHS |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for AML Analyst in Ghana?
A good and competitive compensation would range anywhere between 7,280 GHS and 8,390 GHS. This is a very rough estimate and your experience and education will play a very huge part into your 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 salart after tax for every career.
Base / Basic Salary
The base salary for AML Analyst in Ghana is ranges from 5,870 GHS to 8,390 GHS. 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 in 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 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
