A person working in Banking in Guatemala typically earns around 11,400 GTQ per month. Salaries range from 3,580 GTQ (lowest average) to 23,400 GTQ (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.
|Job Title||Average Salary|
|AML Analyst||16,200 GTQ|
|Assistant Bank Branch Manager||12,800 GTQ|
|Assistant Bank Manager||18,100 GTQ|
|ATM Manager||15,100 GTQ|
|ATM Service Technician||4,110 GTQ|
|Bank Accounts Analyst||6,100 GTQ|
|Bank Accounts Controller||7,280 GTQ|
|Bank Accounts Executive||10,700 GTQ|
|Bank Accounts Manager||13,500 GTQ|
|Bank Auditing Manager||13,100 GTQ|
|Bank Branch Manager||17,700 GTQ|
|Bank Clerk||3,470 GTQ|
|Bank Compliance Specialist||9,400 GTQ|
|Bank Manager||20,800 GTQ|
|Bank Operational Risk Manager||20,400 GTQ|
|Bank Operations Head||21,700 GTQ|
|Bank Operations Officer||8,330 GTQ|
|Bank Operations Specialist||12,900 GTQ|
|Bank Process Manager||12,400 GTQ|
|Bank Product Manager||13,700 GTQ|
|Bank Programme Manager||14,000 GTQ|
|Bank Project Manager||16,500 GTQ|
|Bank Propositions Manager||15,600 GTQ|
|Bank Quantitative Analyst||10,400 GTQ|
|Bank Regional Manager||21,600 GTQ|
|Bank Regional Risk Officer||10,900 GTQ|
|Bank Relationship Manager||15,600 GTQ|
|Bank Relationship Officer||6,930 GTQ|
|Banking Business Analyst||11,200 GTQ|
|Banking Business Development Officer||7,170 GTQ|
|Banking Business Planning Executive||16,400 GTQ|
|Banking Product Manager||13,400 GTQ|
|Banking Reference Data Manager||12,300 GTQ|
|Banking Risk Analyst||11,100 GTQ|
|Banking Technical Analyst||5,780 GTQ|
|Bankruptcy Coordinator||7,560 GTQ|
|Budget Analyst||10,500 GTQ|
|Cards Marketing Manager||14,400 GTQ|
|Cash Management Manager||19,800 GTQ|
|Check Processing Manager||14,500 GTQ|
|Commercial Vault Associate||11,000 GTQ|
|Corporate Dealer||11,500 GTQ|
|Credit Analyst||8,410 GTQ|
|Credit and Collections Manager||14,400 GTQ|
|Credit Card Fraud Investigator||10,900 GTQ|
|Credit Portfolio Manager||21,500 GTQ|
|Credit Risk Analyst||12,600 GTQ|
|Credit Risk Associate||12,100 GTQ|
|Direct Bank Sales Representative||7,420 GTQ|
|Financial Bank Planning Consultant||13,900 GTQ|
|Financial Banking Analysis Manager||16,700 GTQ|
|Financial Banking Assistant||5,340 GTQ|
|Financial Banking Systems Manager||15,100 GTQ|
|Foreign Exchange Manager||16,000 GTQ|
|Fraud Analyst||12,100 GTQ|
|Fraud Detection Associate||7,830 GTQ|
|Fraud Detection Manager||16,400 GTQ|
|Fraud Detection Supervisor||9,350 GTQ|
|Internal Bank Audit Manager||19,100 GTQ|
|Internal Bank Auditor||11,100 GTQ|
|International Banking Manager||23,200 GTQ|
|Loan Analyst||11,000 GTQ|
|Loan Area Manager||13,700 GTQ|
|Loan Audit Team Leader||12,800 GTQ|
|Loan Branch Manager||12,500 GTQ|
|Loan Business Development Officer||6,680 GTQ|
|Loan Clerk||3,860 GTQ|
|Loan Collection Manager||12,900 GTQ|
|Loan Collector||3,450 GTQ|
|Loan Examiner||5,020 GTQ|
|Loan Processing Manager||12,300 GTQ|
|Loan Processor||5,070 GTQ|
|Loan Quality Assurance Auditor||11,300 GTQ|
|Loan Quality Assurance Manager||12,400 GTQ|
|Loan Quality Assurance Representative||8,180 GTQ|
|Loan Review Manager||12,200 GTQ|
|Loan Team Leader||10,800 GTQ|
|Mortgage Advisor||7,330 GTQ|
|Mortgage Collection Manager||13,500 GTQ|
|Mortgage Collector||3,730 GTQ|
|Mortgage Credit Analyst||6,000 GTQ|
|Mortgage Credit Manager||12,500 GTQ|
|Mortgage Development Manager||14,100 GTQ|
|Mortgage Document Reviewer||4,760 GTQ|
|Mortgage Funding Manager||14,000 GTQ|
|Mortgage Operations Manager||19,500 GTQ|
|Mortgage Payment Processing Clerk||4,260 GTQ|
|Mortgage Processing Manager||12,200 GTQ|
|Mortgage Processor||4,750 GTQ|
|Mortgage Quality Assurance Auditor||10,900 GTQ|
|Mortgage Quality Assurance Manager||12,400 GTQ|
|Mortgage Servicing Clerk||4,010 GTQ|
|Mortgage Servicing Manager||12,600 GTQ|
|Mortgage Underwriter||4,570 GTQ|
|Online Banking Manager||19,500 GTQ|
|Payment Processing Clerk||3,930 GTQ|
|Personal Banker||7,930 GTQ|
|Personal Banking Advisor||7,700 GTQ|
|Phone Banker||5,030 GTQ|
|Private Banker||7,930 GTQ|
|Reconciliation and Investigation Specialist||8,840 GTQ|
|Trade Officer||4,570 GTQ|
|Trade Product Manager||13,000 GTQ|
|Treasury Operations Officer||10,100 GTQ|
Banking salaries in Guatemala range from 3,580 GTQ per month (minimum average salary) to 23,400 GTQ per month (maximum average salary, actual maximum is higher).
The median salary is 11,400 GTQ per month, which means that half (50%) of people working in Banking are earning less than 11,400 GTQ while the other half are earning more than 11,400 GTQ. 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.
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 6,740 GTQ while 75% of them are earning more than 6,740 GTQ. Also from the diagram, 75% of people working in Banking are earning less than 17,400 GTQ while 25% are earning more than 17,400 GTQ.
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
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.
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.
A Master's degree program or any post-graduate program in Guatemala costs anywhere from 52,400 Quetzal(s) to 157,000 Quetzal(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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Guatemala who work in Banking earn 6% more than their female counterparts on average.
Banking professionals in Guatemala are likely to observe a salary increase of approximately 9% every 17 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.
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.
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
Listed above are the average annual increase rates for each industry in Guatemala 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.
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.
25% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 8% of their annual salary.
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.
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.
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.
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.
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.
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.
The average salary for Banking is 9% more than that of All Jobs.
Where can you get paid more, working for a private company or for the government? Public sector employees in Guatemala earn 11% more than their private sector counterparts on average across all sectors.