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Banking Average Salaries in Bulgaria 2024

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

Average Monthly Salary
3,610 BGN
( 43,400 BGN 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 Bulgaria typically earns around 3,610 BGN. Salaries range from 1,130 BGN (lowest average) to 7,370 BGN (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 Bulgaria 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 Analyst4,910 BGN
Assistant Bank Branch Manager4,330 BGN
Assistant Bank Manager5,720 BGN
ATM Manager4,990 BGN
ATM Service Technician1,290 BGN
Bank Accounts Analyst1,900 BGN
Bank Accounts Collector1,170 BGN
Bank Accounts Controller2,470 BGN
Bank Accounts Executive3,780 BGN
Bank Accounts Manager4,100 BGN
Bank Auditing Manager4,290 BGN
Bank Branch Manager5,710 BGN
Bank Branch Operations Coordinator2,700 BGN
Bank Clerk1,130 BGN
Bank Client Service Associate1,560 BGN
Bank Collector1,220 BGN
Bank Compliance Specialist3,200 BGN
Bank Manager7,190 BGN
Bank Operational Risk Manager6,690 BGN
Bank Operations Head6,870 BGN
Bank Operations Officer2,870 BGN
Bank Operations Specialist4,200 BGN
Bank Process Manager3,810 BGN
Bank Product Manager 4,520 BGN
Bank Programme Manager4,720 BGN
Bank Project Manager5,510 BGN
Bank Propositions Manager5,070 BGN
Bank Quantitative Analyst3,390 BGN
Bank Regional Manager7,610 BGN
Bank Regional Risk Officer3,880 BGN
Bank Relationship Manager5,220 BGN
Bank Relationship Officer2,430 BGN
Bank Sustainability Analyst4,300 BGN
Bank Teller1,270 BGN
Banker2,490 BGN
Banking Business Analyst3,720 BGN
Banking Business Development Officer2,260 BGN
Banking Business Planning Executive5,150 BGN
Banking Data Analyst4,130 BGN
Banking Product Manager4,380 BGN
Banking Reference Data Manager4,080 BGN
Banking Regulatory Compliance Officer4,380 BGN
Banking Risk Analyst3,740 BGN
Banking Technical Analyst2,020 BGN
Bankruptcy Coordinator2,580 BGN
Bill and Account Collector1,350 BGN
Blockchain Analyst3,260 BGN
Blockchain Architect3,540 BGN
Blockchain Auditor3,240 BGN
Blockchain Compliance Analyst3,460 BGN
Blockchain Consultant3,390 BGN
Blockchain Trade Facilitator3,130 BGN
Budget Analyst3,690 BGN
Capital Risk Manager6,780 BGN
Cards Marketing Manager4,480 BGN
Cash Management Manager6,530 BGN
Check Processing Manager4,980 BGN
Chief Blockchain Officer4,220 BGN
Commercial Vault Associate3,740 BGN
Corporate Banker2,690 BGN
Corporate Dealer3,720 BGN
Credit Analyst2,990 BGN
Credit and Collections Manager4,860 BGN
Credit Card Fraud Investigator3,850 BGN
Credit Portfolio Manager6,590 BGN
Credit Risk Analyst4,240 BGN
Credit Risk Associate3,910 BGN
Cryptocurrency Accountant2,240 BGN
Cryptocurrency Adviser4,490 BGN
Cryptocurrency Analyst3,480 BGN
Cryptocurrency Compliance Manager4,040 BGN
Cryptocurrency Trader3,740 BGN
Digital Banking Manager5,170 BGN
Digital Currency Analyst3,660 BGN
Direct Bank Sales Representative2,720 BGN
Exchange Control Consultant3,780 BGN
Executive Account Analyst3,740 BGN
Financial Bank Planning Consultant4,930 BGN
Financial Banking Analysis Manager5,470 BGN
Financial Banking Assistant1,830 BGN
Financial Banking Systems Manager4,900 BGN
Foreign Exchange Manager5,410 BGN
Fraud Analyst3,880 BGN
Fraud Detection Associate2,770 BGN
Fraud Detection Manager5,850 BGN
Fraud Detection Supervisor3,130 BGN
Internal Bank Audit Manager6,970 BGN
Internal Bank Auditor3,470 BGN
Internal Private Banker2,570 BGN
International Banking Manager7,580 BGN
Investment Banking Analyst5,550 BGN
Loan Analyst3,500 BGN
Loan Area Manager4,590 BGN
Loan Audit Team Leader4,300 BGN
Loan Branch Manager3,980 BGN
Loan Business Development Officer2,220 BGN
Loan Clerk1,340 BGN
Loan Collection and Recovery Manager4,380 BGN
Loan Collection Manager4,240 BGN
Loan Collector1,240 BGN
Loan Examiner1,540 BGN
Loan Officer1,370 BGN
Loan Processing Manager3,930 BGN
Loan Processor1,700 BGN
Loan Quality Assurance Auditor3,560 BGN
Loan Quality Assurance Manager4,100 BGN
Loan Quality Assurance Representative2,820 BGN
Loan Review Manager3,980 BGN
Loan Team Leader3,680 BGN
Loans Manager4,770 BGN
Mortgage Advisor2,620 BGN
Mortgage Collection Manager4,120 BGN
Mortgage Collector1,190 BGN
Mortgage Credit Analyst2,000 BGN
Mortgage Credit Manager3,930 BGN
Mortgage Development Manager4,660 BGN
Mortgage Document Reviewer1,640 BGN
Mortgage Funding Manager4,550 BGN
Mortgage Operations Manager6,490 BGN
Mortgage Payment Processing Clerk1,340 BGN
Mortgage Processing Manager4,160 BGN
Mortgage Processor1,690 BGN
Mortgage Quality Assurance Auditor3,580 BGN
Mortgage Quality Assurance Manager4,240 BGN
Mortgage Servicing Clerk1,220 BGN
Mortgage Servicing Manager4,010 BGN
Mortgage Underwriter1,480 BGN
Online Banking Manager6,650 BGN
Open Banking Strategist3,840 BGN
Payment Processing Clerk1,270 BGN
Personal Banker2,670 BGN
Personal Banking Advisor 2,830 BGN
Phone Banker1,840 BGN
Private Banker2,670 BGN
Reconciliation and Investigation Specialist2,860 BGN
Tax Officer2,140 BGN
Teller1,260 BGN
Trade Officer1,430 BGN
Trade Product Manager4,250 BGN
Trader1,840 BGN
Treasury Operations Officer3,200 BGN
Wealth Management Advisor5,200 BGN

Banking Jobs Pay Scale and Salaries in Bulgaria

Median and salary distribution Bulgaria Banking monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
3,660 BGN or more
10% of people earn
3,030 to 3,660 BGN
20% of people earn
1,650 BGN or less
65% of people earn
1,650 to 3,030 BGN
Minimum Salary
1,130 BGN
3,270 BGN
7,370 BGN

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 Bulgaria range from 1,130 BGN (starting average salary) to 7,370 BGN (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 3,270 BGN, implying that half of the workforce in Bulgaria 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 Bulgaria earn less than 2,450 BGN, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,030 BGN, 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 Bulgaria. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,650 BGN to 3,030 BGN. Approximately 20% of salaries were below the 1,650 BGN mark, while 10% ranged from 3,030 BGN to 3,660 BGN. Only 5% of individuals earned a gross salary of 3,660 BGN or higher.

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 in Banking in Bulgaria 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
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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 Bulgaria, 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 Bulgaria costs anywhere from 16,600 BGN to 49,700 BGN 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 / Bulgaria

Salary comparison by gender Bulgaria Banking monthly
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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? In the field of Banking in Bulgaria, the average difference between the salary of male and female employees is 6%.

3,710 BGN
3,490 BGN
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bulgaria for all Careers

Salary comparison by gender monthly Bulgaria
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Average Annual Salary Increment Percentage / Banking / Bulgaria

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

Professionals working in Banking in Bulgaria are likely to observe a salary increase of approximately 9% every 18 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.

Annual Salary Increment Rate Bulgaria 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.

Bulgaria / All Professions

Annual Salary Increment Rate Bulgaria
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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 Bulgaria is 4%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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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 / Bulgaria

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Bulgaria Banking
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24% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 76% 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
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.

Hourly Average Wage / Banking / Bulgaria

21 BGN per hour

The average hourly wage (pay per hour) in Banking in Bulgaria is 21 BGN.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 Bulgaria is 7 BGN. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Burgas3,770 BGN
Plovdiv4,070 BGN
Rousse3,700 BGN
Sofia4,220 BGN
Stara Zagora3,540 BGN
Varna3,920 BGN

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 Bulgaria is 9% on average across all career fields.

Private Sector
3,140 BGN
Public Sector+9%
3,440 BGN
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 Bulgaria?

A good and competitive compensation would range anywhere between 3,270 BGN and 4,030 BGN. 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 Bulgaria ranges from 1,130 BGN to 2,450 BGN. 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

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