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Banking Average Salaries in Guatemala 2020

How much money does a person working in Banking make in Guatemala?


Average Monthly Salary
9,550 GTQ
( 115,000 GTQ yearly)

LOW
5,400
GTQ
AVERAGE
9,550
GTQ
HIGH
17,700
GTQ

A person working in Banking in Guatemala typically earns around 9,550 GTQ per month. Salaries range from 5,400 GTQ (lowest average) to 17,700 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.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst11,500 GTQ
Assistant Bank Branch Manager9,820 GTQ
Assistant Bank Manager11,900 GTQ
ATM Manager11,100 GTQ
ATM Service Technician5,790 GTQ
Bank Accounts Analyst7,820 GTQ
Bank Accounts Controller7,960 GTQ
Bank Accounts Executive8,540 GTQ
Bank Accounts Manager9,970 GTQ
Bank Auditing Manager9,750 GTQ
Bank Branch Manager11,400 GTQ
Bank Clerk5,730 GTQ
Bank Compliance Specialist8,060 GTQ
Bank Manager16,800 GTQ
Bank Operational Risk Manager12,200 GTQ
Bank Operations Head13,800 GTQ
Bank Operations Officer7,740 GTQ
Bank Operations Specialist10,300 GTQ
Bank Process Manager8,880 GTQ
Bank Product Manager 8,920 GTQ
Bank Programme Manager10,400 GTQ
Bank Project Manager10,600 GTQ
Bank Propositions Manager11,200 GTQ
Bank Quantitative Analyst8,340 GTQ
Bank Regional Manager12,200 GTQ
Bank Regional Risk Officer8,070 GTQ
Bank Relationship Manager9,950 GTQ
Bank Relationship Officer7,320 GTQ
Banker7,870 GTQ
Banking Business Analyst8,930 GTQ
Banking Business Development Officer7,900 GTQ
Banking Business Planning Executive11,600 GTQ
Banking Product Manager10,400 GTQ
Banking Reference Data Manager9,860 GTQ
Banking Risk Analyst8,900 GTQ
Banking Technical Analyst7,410 GTQ
Bankruptcy Coordinator9,110 GTQ
Budget Analyst8,360 GTQ
Cards Marketing Manager11,100 GTQ
Cash Management Manager12,200 GTQ
Check Processing Manager11,500 GTQ
Commercial Vault Associate8,760 GTQ
Corporate Dealer9,160 GTQ
Credit Analyst9,840 GTQ
Credit and Collections Manager10,400 GTQ
Credit Card Fraud Investigator8,750 GTQ
Credit Portfolio Manager13,600 GTQ
Credit Risk Analyst10,900 GTQ
Credit Risk Associate9,720 GTQ
Direct Bank Sales Representative7,800 GTQ
Financial Bank Planning Consultant9,640 GTQ
Financial Banking Analysis Manager11,200 GTQ
Financial Banking Assistant7,530 GTQ
Financial Banking Systems Manager10,600 GTQ
Foreign Exchange Manager10,900 GTQ
Fraud Analyst9,420 GTQ
Fraud Detection Associate8,870 GTQ
Fraud Detection Manager10,900 GTQ
Fraud Detection Supervisor8,860 GTQ
Internal Bank Audit Manager11,000 GTQ
Internal Bank Auditor8,850 GTQ
International Banking Manager14,900 GTQ
Loan Analyst8,800 GTQ
Loan Area Manager10,000 GTQ
Loan Audit Team Leader10,200 GTQ
Loan Branch Manager10,000 GTQ
Loan Business Development Officer8,410 GTQ
Loan Clerk6,240 GTQ
Loan Collection Manager9,590 GTQ
Loan Collector5,170 GTQ
Loan Examiner7,110 GTQ
Loan Processing Manager8,690 GTQ
Loan Processor7,990 GTQ
Loan Quality Assurance Auditor9,020 GTQ
Loan Quality Assurance Manager9,920 GTQ
Loan Quality Assurance Representative7,830 GTQ
Loan Review Manager8,720 GTQ
Loan Team Leader8,620 GTQ
Mortgage Advisor8,140 GTQ
Mortgage Collection Manager9,950 GTQ
Mortgage Collector6,730 GTQ
Mortgage Credit Analyst7,690 GTQ
Mortgage Credit Manager8,620 GTQ
Mortgage Development Manager10,500 GTQ
Mortgage Document Reviewer6,650 GTQ
Mortgage Funding Manager10,500 GTQ
Mortgage Operations Manager12,000 GTQ
Mortgage Payment Processing Clerk6,190 GTQ
Mortgage Processing Manager9,410 GTQ
Mortgage Processor6,620 GTQ
Mortgage Quality Assurance Auditor8,730 GTQ
Mortgage Quality Assurance Manager9,040 GTQ
Mortgage Servicing Clerk5,660 GTQ
Mortgage Servicing Manager9,750 GTQ
Mortgage Underwriter6,190 GTQ
Online Banking Manager12,300 GTQ
Payment Processing Clerk5,950 GTQ
Personal Banker8,580 GTQ
Personal Banking Advisor 8,370 GTQ
Phone Banker7,050 GTQ
Private Banker9,370 GTQ
Reconciliation and Investigation Specialist7,950 GTQ
Teller5,210 GTQ
Trade Officer6,390 GTQ
Trade Product Manager9,340 GTQ
Trader7,350 GTQ
Treasury Operations Officer8,620 GTQ

Banking Jobs Salary Distribution in Guatemala

Median and salary distribution monthly Guatemala Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Guatemala range from 5,400 GTQ per month (minimum average salary) to 17,700 GTQ per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 9,550 GTQ per month, which means that half (50%) of people working in Banking are earning less than 9,550 GTQ while the other half are earning more than 9,550 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.

  • 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 6,730 GTQ while 75% of them are earning more than 6,730 GTQ. Also from the diagram, 75% of people working in Banking are earning less than 13,600 GTQ while 25% are earning more than 13,600 GTQ.


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?

Salary Comparison By Experience Level
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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.

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.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

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.

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.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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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.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

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 Guatemala costs anywhere from 42,200 Quetzal(s) to 127,000 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.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Guatemala Banking
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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 employees earn 7% more than their female counterparts.

Female
9,160 GTQ
Male+7%
9,850 GTQ
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Guatemala for all Careers

Salary comparison by gender monthly Guatemala
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Banking Average Annual Salary Increment Percentage in Guatemala

How much are annual salary increments in Guatemala for Banking professionals? How often do employees get salary raises?

Banking

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.

Annual Salary Increment Rate Guatemala Banking
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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.

Guatemala / All Professions

Annual Salary Increment Rate Guatemala
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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 Guatemala is 4%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

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.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Guatemala

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Guatemala Banking
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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.

Received Bonus
75%
No Bonus
25%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Guatemala
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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.

Private Sector
8,060 GTQ
Public Sector+11%
8,920 GTQ
Percentage increase and decrease are relative to the previous value

Banking Salary Forecast and Trend in Guatemala

How do Banking salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Guatemala Banking
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Average Salary 2016
8,630 GTQ
Average Salary 2017+4%
8,950 GTQ
Average Salary 2018+3%
9,170 GTQ
Average Salary 2019+1%
9,290 GTQ
Percentage increase and decrease are relative to the previous value

Banking salaries in Guatemala are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Banking Hourly Average Wage in Guatemala


55 GTQ per hour

The average hourly wage (pay per hour) in Guatemala is 55 GTQ. This means that the average person in Guatemala earns approximately 55 GTQ 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.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Guatemala
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The average salary for Banking is 13% more than that of All Jobs.

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