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).
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.
|Job Title||Average Salary|
|AML Analyst||158,000 ALL|
|Assistant Bank Branch Manager||138,000 ALL|
|Assistant Bank Manager||179,000 ALL|
|ATM Manager||151,000 ALL|
|ATM Service Technician||41,800 ALL|
|Bank Accounts Analyst||60,500 ALL|
|Bank Accounts Controller||76,300 ALL|
|Bank Accounts Executive||113,000 ALL|
|Bank Accounts Manager||132,000 ALL|
|Bank Auditing Manager||135,000 ALL|
|Bank Branch Manager||187,000 ALL|
|Bank Clerk||33,200 ALL|
|Bank Compliance Specialist||91,200 ALL|
|Bank Manager||201,000 ALL|
|Bank Operational Risk Manager||215,000 ALL|
|Bank Operations Head||204,000 ALL|
|Bank Operations Officer||82,700 ALL|
|Bank Operations Specialist||126,000 ALL|
|Bank Process Manager||120,000 ALL|
|Bank Product Manager||130,000 ALL|
|Bank Programme Manager||150,000 ALL|
|Bank Project Manager||174,000 ALL|
|Bank Propositions Manager||146,000 ALL|
|Bank Quantitative Analyst||105,000 ALL|
|Bank Regional Manager||224,000 ALL|
|Bank Regional Risk Officer||107,000 ALL|
|Bank Relationship Manager||165,000 ALL|
|Bank Relationship Officer||72,100 ALL|
|Banking Business Analyst||112,000 ALL|
|Banking Business Development Officer||65,800 ALL|
|Banking Business Planning Executive||154,000 ALL|
|Banking Product Manager||141,000 ALL|
|Banking Reference Data Manager||123,000 ALL|
|Banking Risk Analyst||111,000 ALL|
|Banking Technical Analyst||57,100 ALL|
|Bankruptcy Coordinator||75,100 ALL|
|Budget Analyst||114,000 ALL|
|Cards Marketing Manager||143,000 ALL|
|Cash Management Manager||184,000 ALL|
|Check Processing Manager||137,000 ALL|
|Commercial Vault Associate||109,000 ALL|
|Corporate Dealer||113,000 ALL|
|Credit Analyst||82,800 ALL|
|Credit and Collections Manager||144,000 ALL|
|Credit Card Fraud Investigator||111,000 ALL|
|Credit Portfolio Manager||214,000 ALL|
|Credit Risk Analyst||122,000 ALL|
|Credit Risk Associate||120,000 ALL|
|Direct Bank Sales Representative||76,200 ALL|
|Financial Bank Planning Consultant||136,000 ALL|
|Financial Banking Analysis Manager||159,000 ALL|
|Financial Banking Assistant||51,800 ALL|
|Financial Banking Systems Manager||148,000 ALL|
|Foreign Exchange Manager||159,000 ALL|
|Fraud Analyst||122,000 ALL|
|Fraud Detection Associate||79,100 ALL|
|Fraud Detection Manager||165,000 ALL|
|Fraud Detection Supervisor||95,800 ALL|
|Internal Bank Audit Manager||201,000 ALL|
|Internal Bank Auditor||107,000 ALL|
|International Banking Manager||227,000 ALL|
|Loan Analyst||111,000 ALL|
|Loan Area Manager||136,000 ALL|
|Loan Audit Team Leader||128,000 ALL|
|Loan Branch Manager||127,000 ALL|
|Loan Business Development Officer||68,600 ALL|
|Loan Clerk||40,200 ALL|
|Loan Collection Manager||136,000 ALL|
|Loan Collector||37,400 ALL|
|Loan Examiner||50,000 ALL|
|Loan Processing Manager||124,000 ALL|
|Loan Processor||51,900 ALL|
|Loan Quality Assurance Auditor||106,000 ALL|
|Loan Quality Assurance Manager||118,000 ALL|
|Loan Quality Assurance Representative||79,000 ALL|
|Loan Review Manager||120,000 ALL|
|Loan Team Leader||107,000 ALL|
|Mortgage Advisor||73,900 ALL|
|Mortgage Collection Manager||125,000 ALL|
|Mortgage Collector||35,000 ALL|
|Mortgage Credit Analyst||57,000 ALL|
|Mortgage Credit Manager||120,000 ALL|
|Mortgage Development Manager||138,000 ALL|
|Mortgage Document Reviewer||47,200 ALL|
|Mortgage Funding Manager||141,000 ALL|
|Mortgage Operations Manager||191,000 ALL|
|Mortgage Payment Processing Clerk||42,200 ALL|
|Mortgage Processing Manager||125,000 ALL|
|Mortgage Processor||49,200 ALL|
|Mortgage Quality Assurance Auditor||110,000 ALL|
|Mortgage Quality Assurance Manager||126,000 ALL|
|Mortgage Servicing Clerk||38,100 ALL|
|Mortgage Servicing Manager||121,000 ALL|
|Mortgage Underwriter||47,200 ALL|
|Online Banking Manager||194,000 ALL|
|Payment Processing Clerk||39,600 ALL|
|Personal Banker||83,200 ALL|
|Personal Banking Advisor||79,100 ALL|
|Phone Banker||53,000 ALL|
|Private Banker||81,000 ALL|
|Reconciliation and Investigation Specialist||91,300 ALL|
|Trade Officer||45,200 ALL|
|Trade Product Manager||130,000 ALL|
|Treasury Operations Officer||92,900 ALL|
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.
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.
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.
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.
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.
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.
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.
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%.
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.
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.
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 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.
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.
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.
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.
|Average Salary 2019|
|Average Salary 2020||+4%|
|Average Salary 2021||+2%|
|Average Salary 2022||+3%|
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.
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.
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.
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.
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.
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.
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.
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
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