Browse Salaries
Best Paying Jobs
Salary Increase Letters

Banking Average Salaries in Albania 2023

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

Average Monthly Salary
104,000 ALL
( 1,250,000 ALL yearly)

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 in Banking in Albania typically earns around 104,000 ALL. Salaries range from 32,900 ALL (lowest average) to 214,000 ALL (highest average, actual maximum salary is higher).

Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in Albania exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst158,000 ALL
Assistant Bank Branch Manager138,000 ALL
Assistant Bank Manager179,000 ALL
ATM Manager151,000 ALL
ATM Service Technician41,800 ALL
Bank Accounts Analyst60,500 ALL
Bank Accounts Controller76,300 ALL
Bank Accounts Executive113,000 ALL
Bank Accounts Manager132,000 ALL
Bank Auditing Manager135,000 ALL
Bank Branch Manager187,000 ALL
Bank Clerk33,200 ALL
Bank Compliance Specialist91,200 ALL
Bank Manager201,000 ALL
Bank Operational Risk Manager215,000 ALL
Bank Operations Head204,000 ALL
Bank Operations Officer82,700 ALL
Bank Operations Specialist126,000 ALL
Bank Process Manager120,000 ALL
Bank Product Manager 130,000 ALL
Bank Programme Manager150,000 ALL
Bank Project Manager174,000 ALL
Bank Propositions Manager146,000 ALL
Bank Quantitative Analyst105,000 ALL
Bank Regional Manager224,000 ALL
Bank Regional Risk Officer107,000 ALL
Bank Relationship Manager165,000 ALL
Bank Relationship Officer72,100 ALL
Banker78,400 ALL
Banking Business Analyst112,000 ALL
Banking Business Development Officer65,800 ALL
Banking Business Planning Executive154,000 ALL
Banking Product Manager141,000 ALL
Banking Reference Data Manager123,000 ALL
Banking Risk Analyst111,000 ALL
Banking Technical Analyst57,100 ALL
Bankruptcy Coordinator75,100 ALL
Budget Analyst114,000 ALL
Cards Marketing Manager143,000 ALL
Cash Management Manager184,000 ALL
Check Processing Manager137,000 ALL
Commercial Vault Associate109,000 ALL
Corporate Dealer113,000 ALL
Credit Analyst82,800 ALL
Credit and Collections Manager144,000 ALL
Credit Card Fraud Investigator111,000 ALL
Credit Portfolio Manager214,000 ALL
Credit Risk Analyst122,000 ALL
Credit Risk Associate120,000 ALL
Direct Bank Sales Representative76,200 ALL
Financial Bank Planning Consultant136,000 ALL
Financial Banking Analysis Manager159,000 ALL
Financial Banking Assistant51,800 ALL
Financial Banking Systems Manager148,000 ALL
Foreign Exchange Manager159,000 ALL
Fraud Analyst122,000 ALL
Fraud Detection Associate79,100 ALL
Fraud Detection Manager165,000 ALL
Fraud Detection Supervisor95,800 ALL
Internal Bank Audit Manager201,000 ALL
Internal Bank Auditor107,000 ALL
International Banking Manager227,000 ALL
Loan Analyst111,000 ALL
Loan Area Manager136,000 ALL
Loan Audit Team Leader128,000 ALL
Loan Branch Manager127,000 ALL
Loan Business Development Officer68,600 ALL
Loan Clerk40,200 ALL
Loan Collection Manager136,000 ALL
Loan Collector37,400 ALL
Loan Examiner50,000 ALL
Loan Processing Manager124,000 ALL
Loan Processor51,900 ALL
Loan Quality Assurance Auditor106,000 ALL
Loan Quality Assurance Manager118,000 ALL
Loan Quality Assurance Representative79,000 ALL
Loan Review Manager120,000 ALL
Loan Team Leader107,000 ALL
Mortgage Advisor73,900 ALL
Mortgage Collection Manager125,000 ALL
Mortgage Collector35,000 ALL
Mortgage Credit Analyst57,000 ALL
Mortgage Credit Manager120,000 ALL
Mortgage Development Manager138,000 ALL
Mortgage Document Reviewer47,200 ALL
Mortgage Funding Manager141,000 ALL
Mortgage Operations Manager191,000 ALL
Mortgage Payment Processing Clerk42,200 ALL
Mortgage Processing Manager125,000 ALL
Mortgage Processor49,200 ALL
Mortgage Quality Assurance Auditor110,000 ALL
Mortgage Quality Assurance Manager126,000 ALL
Mortgage Servicing Clerk38,100 ALL
Mortgage Servicing Manager121,000 ALL
Mortgage Underwriter47,200 ALL
Online Banking Manager194,000 ALL
Payment Processing Clerk39,600 ALL
Personal Banker83,200 ALL
Personal Banking Advisor 79,100 ALL
Phone Banker53,000 ALL
Private Banker81,000 ALL
Reconciliation and Investigation Specialist91,300 ALL
Teller38,600 ALL
Trade Officer45,200 ALL
Trade Product Manager130,000 ALL
Trader54,600 ALL
Treasury Operations Officer92,900 ALL

Banking Jobs Pay Scale and Salaries in Albania

Median and salary distribution Albania Banking monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/median-and-salary-distribution-monthly-albania-banking.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
103,000 ALL or more
10% of people earn
85,600 to 103,000 ALL
20% of people earn
46,500 ALL or less
65% of people earn
46,500 to 85,600 ALL
Minimum Salary
32,900 ALL
91,800 ALL
214,000 ALL

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 in Banking in Albania range from 32,900 ALL (starting average salary) to 214,000 ALL (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 91,800 ALL, implying that half of the workforce in Albania earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in Albania earn less than 68,700 ALL, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 113,000 ALL, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in Albania. The analysis revealed that roughly 65% of all reported salaries fell within the range of 46,500 ALL to 85,600 ALL. Approximately 20% of salaries were below the 46,500 ALL mark, while 10% ranged from 85,600 ALL to 103,000 ALL. Only 5% of individuals earned a gross salary of 103,000 ALL or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

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 in Banking in Albania 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.

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.
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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg

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.

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 degree levels across many jobs in Banking in Albania, 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 certificate 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 Albania costs anywhere from 480,000 ALL to 1,440,000 ALL and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.

Salary and Compensation Comparison By Gender / Banking / Albania

Salary comparison by gender Albania Banking monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/salary-comparison-by-gender-monthly-albania-banking.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in Albania, the average difference between the salary of male and female employees is 7%.

109,000 ALL
101,000 ALL
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Albania for all Careers

Salary comparison by gender monthly Albania
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/salary-comparison-by-gender-monthly-albania.jpg

Average Annual Salary Increment Percentage / Banking / Albania

How much are annual salary increments in Albania for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in Albania are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Albania Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/annual-salary-increment-rate-albania-banking.jpg

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.

Albania / All Professions

Annual Salary Increment Rate Albania
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/annual-salary-increment-rate-albania.jpg

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 Albania is 2%.

Annual Increment Rate By Industry 2022

Information Technology

Listed above are the average annual increase rates for each industry in Albania 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

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

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 / Banking / Albania

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Albania Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/annual-salary-bonus-rate-albania-banking.jpg

42% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 58% 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
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Salary Forecast and Trend / Banking / Albania

How are salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Average Salary 2019
92,700 ALL
Average Salary 2020+4%
96,200 ALL
Average Salary 2021+2%
98,000 ALL
Average Salary 2022+3%
101,000 ALL
Percentage increase and decrease are relative to the previous value

Salaries for individuals working in Banking in Albania are rising in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.

Salary trends and forecast monthly Albania Banking
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/salary-trends-and-forecast-monthly-albania-banking.jpg

Hourly Average Wage / Banking / Albania

600 ALL per hour

The average hourly wage (pay per hour) in Banking in Albania is 600 ALL.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 in Banking in Albania is 190 ALL. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Banking VS Other Jobs

104,000 ALL
96,100 ALL
Average Salary
Average Salary
All Jobs
Salary Comparison Between Banking and Banking monthly Albania
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/albania/banking/salary-comparison-between-banking-and-banking-monthly-albania.jpg

Salary Comparison By City

CityAverage Salary
Berat101,000 ALL
Durres114,000 ALL
Elbasan110,000 ALL
Fier106,000 ALL
Gjirokaster99,700 ALL
Korca104,000 ALL
Lezhe96,000 ALL
Sarande97,800 ALL
Shkodra109,000 ALL
Tirana116,000 ALL
Vlore113,000 ALL

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 Albania is 14% on average across all career fields.

Private Sector
91,300 ALL
Public Sector+14%
104,000 ALL
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 in Banking in Albania?

A good and competitive compensation would range anywhere between 91,800 ALL and 113,000 ALL. 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 jobs in Banking in Albania ranges from 68,700 ALL to 113,000 ALL. 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

Browse Salaries

Salary Increase Letters

Best Paying Jobs

©Salary Explorer 2023