HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Loan Quality Assurance Auditor Average Salary in Korea (South) 2024

How much money does a person working as Loan Quality Assurance Auditor make in Korea (South)?


Average Monthly Salary
4,400,000 KRW
( 52,800,000 KRW yearly)

LOW
2,290,000
KRW
AVERAGE
4,400,000
KRW
HIGH
6,730,000
KRW
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 as Loan Quality Assurance Auditor in Korea (South) typically earns around 4,400,000 KRW. Salaries range from 2,290,000 KRW (lowest) to 6,730,000 KRW (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Loan Quality Assurance Auditor salaries in Korea (South) vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Loan Quality Assurance Auditor Pay Scale and Salaries in Korea (South)

Median and salary distribution Korea (South) Loan Quality Assurance Auditor monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/median-and-salary-distribution-monthly-korea-(south)-loan-quality-assurance-auditor.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
3,980,000 KRW or more
10% of people earn
3,550,000 to 3,980,000 KRW
20% of people earn
2,590,000 KRW or less
65% of people earn
2,590,000 to 3,550,000 KRW
Minimum Salary
2,290,000
KRW
Median
4,000,000
KRW
Maximum
6,730,000
KRW




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 for the position Loan Quality Assurance Auditor in Korea (South) range from 2,290,000 KRW (starting salary) to 6,730,000 KRW (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 4,000,000 KRW, half of the professionals who work as Loan Quality Assurance Auditor in Korea (South) earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Loan Quality Assurance Auditor in Korea (South) earn less than 3,320,000 KRW, while 75% earn more. Similarly, the chart shows that 75% earn less than 4,540,000 KRW while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Loan Quality Assurance Auditor in Korea (South) compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 2,590,000 KRW to 3,550,000 KRW. About 20% of salaries are below the 2,590,000 KRW mark, while 10% fall within the range of 3,550,000 KRW to 3,980,000 KRW. Only 5% of individuals have salaries exceeding 3,980,000 KRW.

Salary Comparison by Years of Experience / Loan Quality Assurance Auditor / Korea (South)

How do experience and age affect pay?

0 - 2 Years
2,600,000 KRW
2 - 5 Years+34%
3,490,000 KRW
5 - 10 Years+30%
4,530,000 KRW
10 - 15 Years+21%
5,480,000 KRW
15 - 20 Years+9%
5,990,000 KRW
20+ Years+5%
6,310,000 KRW
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Korea (South) Loan Quality Assurance Auditor
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/salary-comparison-by-years-of-experience-monthly-korea-(south)-loan-quality-assurance-auditor.jpg

The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Loan Quality Assurance Auditor and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 2,600,000 KRW.

While someone with an experience level between two and five years is expected to earn 3,490,000 KRW, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 4,530,000 KRW, 30% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 5,480,000 KRW, 21% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 5,990,000 KRW, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 6,310,000 KRW, 5% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

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

Salary Comparison By Education / Loan Quality Assurance Auditor / Korea (South)

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Loan Quality Assurance Auditor.

Bachelor's Degree
3,660,000 KRW
Master's Degree+39%
5,080,000 KRW
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Korea (South) Loan Quality Assurance Auditor
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/salary-comparison-by-education-level-monthly-korea-(south)-loan-quality-assurance-auditor.jpg

We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Loan Quality Assurance Auditor in order to make a comparison.


Level 1: Bachelor's Degree

Employees at this education level have an average salary of 3,660,000 KRW.


Level 2: Master's Degree

At this level, the average salary becomes 5,080,000 KRW, 39% more than the previous level.



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 Korea (South) costs anywhere from 19,500,000 KRW to 58,500,000 KRW 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

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


Salary and Compensation Comparison By Gender / Loan Quality Assurance Auditor / Korea (South)

Salary comparison by gender Korea (South) Loan Quality Assurance Auditor monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/salary-comparison-by-gender-monthly-korea-(south)-loan-quality-assurance-auditor.jpg

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Loan Quality Assurance Auditor in Korea (South), the average difference between the salary of male and female employees is 6%.

Male
4,540,000 KRW
Female-6%
4,280,000 KRW
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Korea (South) for all Careers

Salary comparison by gender monthly Korea (South)
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/salary-comparison-by-gender-monthly-korea-(south).jpg


Average Annual Salary Increment Percentage / Loan Quality Assurance Auditor / Korea (South)

How much are annual salary increments in Korea (South) for individuals working as Loan Quality Assurance Auditor? How often do employees get salary raises?

Individuals working as Loan Quality Assurance Auditor in Korea (South) are likely to observe a salary increase of approximately 13% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate Korea (South) Loan Quality Assurance Auditor
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/annual-salary-increment-rate-korea-(south)-loan-quality-assurance-auditor.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.

Korea (South) / All Professions

Annual Salary Increment Rate Korea (South)
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/annual-salary-increment-rate-korea-(south).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 Korea (South) is 7%.

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 / Loan Quality Assurance Auditor / Korea (South)

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Korea (South) Loan Quality Assurance Auditor
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/korea-(south)/banking/loan-quality-assurance-auditor/annual-salary-bonus-rate-korea-(south)-loan-quality-assurance-auditor.jpg

21% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 79% 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
79%
No Bonus
21%

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.

Average Hourly Wage / Loan Quality Assurance Auditor / Korea (South)


25,400 KRW per hour

The average hourly wage (pay per hour) for individuals working as Loan Quality Assurance Auditor in Korea (South) is 25,400 KRW.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 as Loan Quality Assurance Auditor in Korea (South) is 13,200 KRW. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Banking-100%
AML Analyst6,330,000 KRW+44%
Assistant Bank Branch Manager5,400,000 KRW+23%
Assistant Bank Manager7,220,000 KRW+64%
ATM Manager5,600,000 KRW+27%
ATM Service Technician1,560,000 KRW-65%
Bank Accounts Analyst2,440,000 KRW-45%
Bank Accounts Collector1,440,000 KRW-67%
Bank Accounts Controller2,990,000 KRW-32%
Bank Accounts Executive4,490,000 KRW+2%
Bank Accounts Manager5,280,000 KRW+20%
Bank Auditing Manager5,120,000 KRW+16%
Bank Branch Manager7,260,000 KRW+65%
Bank Branch Operations Coordinator3,210,000 KRW-27%
Bank Clerk1,390,000 KRW-68%
Bank Client Service Associate1,860,000 KRW-58%
Bank Collector1,370,000 KRW-69%
Bank Compliance Specialist3,860,000 KRW-12%
Bank Manager8,530,000 KRW+94%
Bank Operational Risk Manager8,370,000 KRW+90%
Bank Operations Head8,480,000 KRW+93%
Bank Operations Officer3,500,000 KRW-20%
Bank Operations Specialist5,410,000 KRW+23%
Bank Process Manager4,830,000 KRW+10%
Bank Product Manager 5,470,000 KRW+24%
Bank Programme Manager5,890,000 KRW+34%
Bank Project Manager6,780,000 KRW+54%
Bank Propositions Manager5,950,000 KRW+35%
Bank Quantitative Analyst4,060,000 KRW-8%
Bank Regional Manager8,640,000 KRW+97%
Bank Regional Risk Officer4,590,000 KRW+4%
Bank Relationship Manager6,420,000 KRW+46%
Bank Relationship Officer2,850,000 KRW-35%
Bank Sustainability Analyst4,740,000 KRW+8%
Bank Teller1,470,000 KRW-67%
Banker2,880,000 KRW-34%
Banking Business Analyst4,460,000 KRW+1%
Banking Business Development Officer2,660,000 KRW-40%
Banking Business Planning Executive6,240,000 KRW+42%
Banking Data Analyst4,940,000 KRW+12%
Banking Product Manager5,480,000 KRW+25%
Banking Reference Data Manager4,570,000 KRW+4%
Banking Regulatory Compliance Officer5,140,000 KRW+17%
Banking Risk Analyst4,560,000 KRW+4%
Banking Technical Analyst2,430,000 KRW-45%
Bankruptcy Coordinator3,260,000 KRW-26%
Bill and Account Collector1,510,000 KRW-66%
Blockchain Analyst3,810,000 KRW-13%
Blockchain Architect4,480,000 KRW+2%
Blockchain Auditor4,020,000 KRW-9%
Blockchain Compliance Analyst3,810,000 KRW-13%
Blockchain Consultant4,050,000 KRW-8%
Blockchain Trade Facilitator3,770,000 KRW-14%
Budget Analyst4,510,000 KRW+3%
Capital Risk Manager8,340,000 KRW+90%
Cards Marketing Manager5,750,000 KRW+31%
Cash Management Manager7,540,000 KRW+71%
Check Processing Manager5,650,000 KRW+29%
Chief Blockchain Officer4,940,000 KRW+12%
Commercial Vault Associate4,490,000 KRW+2%
Corporate Banker3,110,000 KRW-29%
Corporate Dealer4,710,000 KRW+7%
Credit Analyst3,540,000 KRW-19%
Credit and Collections Manager6,230,000 KRW+42%
Credit Card Fraud Investigator4,380,000 KRW-0%
Credit Portfolio Manager8,600,000 KRW+96%
Credit Risk Analyst5,030,000 KRW+14%
Credit Risk Associate4,860,000 KRW+11%
Cryptocurrency Accountant2,880,000 KRW-34%
Cryptocurrency Adviser5,670,000 KRW+29%
Cryptocurrency Analyst3,900,000 KRW-11%
Cryptocurrency Compliance Manager4,910,000 KRW+12%
Cryptocurrency Trader4,460,000 KRW+1%
Digital Banking Manager6,030,000 KRW+37%
Digital Currency Analyst4,290,000 KRW-2%
Direct Bank Sales Representative3,050,000 KRW-31%
Exchange Control Consultant4,450,000 KRW+1%
Executive Account Analyst4,370,000 KRW-1%
Financial Bank Planning Consultant5,830,000 KRW+33%
Financial Banking Analysis Manager6,510,000 KRW+48%
Financial Banking Assistant2,140,000 KRW-51%
Financial Banking Systems Manager6,190,000 KRW+41%
Foreign Exchange Manager6,720,000 KRW+53%
Fraud Analyst4,490,000 KRW+2%
Fraud Detection Associate3,050,000 KRW-31%
Fraud Detection Manager6,550,000 KRW+49%
Fraud Detection Supervisor3,740,000 KRW-15%
Internal Bank Audit Manager8,030,000 KRW+83%
Internal Bank Auditor4,330,000 KRW-2%
Internal Private Banker3,080,000 KRW-30%
International Banking Manager9,270,000 KRW+110%
Investment Banking Analyst6,210,000 KRW+41%
Loan Analyst4,180,000 KRW-5%
Loan Area Manager5,600,000 KRW+27%
Loan Audit Team Leader5,240,000 KRW+19%
Loan Branch Manager4,760,000 KRW+8%
Loan Business Development Officer2,610,000 KRW-41%
Loan Clerk1,540,000 KRW-65%
Loan Collection and Recovery Manager5,380,000 KRW+22%
Loan Collection Manager5,300,000 KRW+21%
Loan Collector1,490,000 KRW-66%
Loan Examiner2,010,000 KRW-54%
Loan Officer1,610,000 KRW-63%
Loan Processing Manager4,550,000 KRW+3%
Loan Processor1,930,000 KRW-56%
Loan Quality Assurance Auditor4,400,000 KRW+0%
Loan Quality Assurance Manager4,960,000 KRW+13%
Loan Quality Assurance Representative3,350,000 KRW-24%
Loan Review Manager5,130,000 KRW+17%
Loan Team Leader4,650,000 KRW+6%
Loans Manager6,130,000 KRW+39%
Mortgage Advisor2,930,000 KRW-33%
Mortgage Collection Manager5,020,000 KRW+14%
Mortgage Collector1,420,000 KRW-68%
Mortgage Credit Analyst2,340,000 KRW-47%
Mortgage Credit Manager4,990,000 KRW+13%
Mortgage Development Manager5,800,000 KRW+32%
Mortgage Document Reviewer2,000,000 KRW-55%
Mortgage Funding Manager5,450,000 KRW+24%
Mortgage Operations Manager7,820,000 KRW+78%
Mortgage Payment Processing Clerk1,750,000 KRW-60%
Mortgage Processing Manager4,890,000 KRW+11%
Mortgage Processor1,950,000 KRW-56%
Mortgage Quality Assurance Auditor4,150,000 KRW-6%
Mortgage Quality Assurance Manager4,820,000 KRW+10%
Mortgage Servicing Clerk1,530,000 KRW-65%
Mortgage Servicing Manager4,920,000 KRW+12%
Mortgage Underwriter1,830,000 KRW-58%
Online Banking Manager7,990,000 KRW+82%
Open Banking Strategist4,510,000 KRW+3%
Payment Processing Clerk1,490,000 KRW-66%
Personal Banker3,170,000 KRW-28%
Personal Banking Advisor 3,160,000 KRW-28%
Phone Banker2,120,000 KRW-52%
Private Banker3,090,000 KRW-30%
Reconciliation and Investigation Specialist3,540,000 KRW-19%
Tax Officer2,750,000 KRW-37%
Teller1,520,000 KRW-65%
Trade Officer1,870,000 KRW-57%
Trade Product Manager4,920,000 KRW+12%
Trader2,090,000 KRW-52%
Treasury Operations Officer3,760,000 KRW-14%
Wealth Management Advisor6,590,000 KRW+50%

Salary Comparison By City

CityAverage Salary
Seoul4,700,000 KRW

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 Korea (South) is 6% on average across all career fields.

Private Sector
3,780,000 KRW
Public Sector+6%
4,000,000 KRW
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 for the job title Loan Quality Assurance Auditor in Korea (South)?

A good and competitive compensation would range anywhere between 4,000,000 KRW and 4,540,000 KRW. 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 a careers like Loan Quality Assurance Auditor in Korea (South) ranges from 2,290,000 KRW to 3,320,000 KRW. 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
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison Arabic

©Salary Explorer 2024