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Banking Average Salaries in Mauritius 2023

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

Average Monthly Salary
50,800 MUR
( 610,000 MUR 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 Mauritius typically earns around 50,800 MUR. Salaries range from 15,900 MUR (lowest average) to 104,000 MUR (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 Mauritius 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 Analyst73,300 MUR
Assistant Bank Branch Manager60,100 MUR
Assistant Bank Manager77,500 MUR
ATM Manager68,000 MUR
ATM Service Technician19,400 MUR
Bank Accounts Analyst26,900 MUR
Bank Accounts Collector16,400 MUR
Bank Accounts Controller36,500 MUR
Bank Accounts Executive50,900 MUR
Bank Accounts Manager61,200 MUR
Bank Auditing Manager58,800 MUR
Bank Branch Manager87,300 MUR
Bank Branch Operations Coordinator36,400 MUR
Bank Clerk16,100 MUR
Bank Client Service Associate22,100 MUR
Bank Collector16,600 MUR
Bank Compliance Specialist45,600 MUR
Bank Manager98,300 MUR
Bank Operational Risk Manager98,000 MUR
Bank Operations Head103,000 MUR
Bank Operations Officer40,600 MUR
Bank Operations Specialist63,700 MUR
Bank Process Manager54,500 MUR
Bank Product Manager 61,500 MUR
Bank Programme Manager65,600 MUR
Bank Project Manager77,100 MUR
Bank Propositions Manager67,600 MUR
Bank Quantitative Analyst48,200 MUR
Bank Regional Manager106,000 MUR
Bank Regional Risk Officer50,400 MUR
Bank Relationship Manager73,000 MUR
Bank Relationship Officer32,900 MUR
Bank Sustainability Analyst57,900 MUR
Bank Teller17,900 MUR
Banker33,400 MUR
Banking Business Analyst52,100 MUR
Banking Business Development Officer31,800 MUR
Banking Business Planning Executive75,000 MUR
Banking Data Analyst61,600 MUR
Banking Product Manager64,100 MUR
Banking Reference Data Manager55,500 MUR
Banking Regulatory Compliance Officer59,400 MUR
Banking Risk Analyst48,700 MUR
Banking Technical Analyst27,400 MUR
Bankruptcy Coordinator35,600 MUR
Bill and Account Collector17,500 MUR
Blockchain Analyst42,600 MUR
Blockchain Architect51,400 MUR
Blockchain Auditor47,200 MUR
Blockchain Compliance Analyst45,800 MUR
Blockchain Consultant49,800 MUR
Blockchain Trade Facilitator42,500 MUR
Budget Analyst51,400 MUR
Capital Risk Manager94,900 MUR
Cards Marketing Manager63,500 MUR
Cash Management Manager92,100 MUR
Check Processing Manager63,900 MUR
Chief Blockchain Officer59,100 MUR
Commercial Vault Associate51,500 MUR
Corporate Banker38,000 MUR
Corporate Dealer54,800 MUR
Credit Analyst38,800 MUR
Credit and Collections Manager69,900 MUR
Credit Card Fraud Investigator55,500 MUR
Credit Portfolio Manager97,600 MUR
Credit Risk Analyst58,900 MUR
Credit Risk Associate56,000 MUR
Cryptocurrency Accountant33,900 MUR
Cryptocurrency Adviser61,900 MUR
Cryptocurrency Analyst48,100 MUR
Cryptocurrency Compliance Manager56,100 MUR
Cryptocurrency Trader52,100 MUR
Digital Banking Manager68,700 MUR
Digital Currency Analyst49,500 MUR
Direct Bank Sales Representative35,800 MUR
Exchange Control Consultant52,300 MUR
Executive Account Analyst48,900 MUR
Financial Bank Planning Consultant64,000 MUR
Financial Banking Analysis Manager72,300 MUR
Financial Banking Assistant24,400 MUR
Financial Banking Systems Manager72,200 MUR
Foreign Exchange Manager72,500 MUR
Fraud Analyst52,100 MUR
Fraud Detection Associate37,300 MUR
Fraud Detection Manager80,900 MUR
Fraud Detection Supervisor46,700 MUR
Internal Bank Audit Manager94,900 MUR
Internal Bank Auditor47,400 MUR
Internal Private Banker37,800 MUR
International Banking Manager104,000 MUR
Investment Banking Analyst72,900 MUR
Loan Analyst50,500 MUR
Loan Area Manager59,700 MUR
Loan Audit Team Leader55,900 MUR
Loan Branch Manager57,500 MUR
Loan Business Development Officer32,200 MUR
Loan Clerk17,700 MUR
Loan Collection and Recovery Manager64,300 MUR
Loan Collection Manager62,000 MUR
Loan Collector16,500 MUR
Loan Examiner22,800 MUR
Loan Officer18,900 MUR
Loan Processing Manager52,800 MUR
Loan Processor22,900 MUR
Loan Quality Assurance Auditor53,400 MUR
Loan Quality Assurance Manager55,800 MUR
Loan Quality Assurance Representative38,600 MUR
Loan Review Manager60,400 MUR
Loan Team Leader50,700 MUR
Loans Manager67,600 MUR
Mortgage Advisor36,200 MUR
Mortgage Collection Manager57,300 MUR
Mortgage Collector16,600 MUR
Mortgage Credit Analyst28,000 MUR
Mortgage Credit Manager55,200 MUR
Mortgage Development Manager65,700 MUR
Mortgage Document Reviewer23,200 MUR
Mortgage Funding Manager64,700 MUR
Mortgage Operations Manager85,200 MUR
Mortgage Payment Processing Clerk19,500 MUR
Mortgage Processing Manager59,400 MUR
Mortgage Processor24,200 MUR
Mortgage Quality Assurance Auditor52,400 MUR
Mortgage Quality Assurance Manager56,300 MUR
Mortgage Servicing Clerk17,600 MUR
Mortgage Servicing Manager57,900 MUR
Mortgage Underwriter21,800 MUR
Online Banking Manager91,700 MUR
Open Banking Strategist52,100 MUR
Payment Processing Clerk17,500 MUR
Personal Banker38,400 MUR
Personal Banking Advisor 37,200 MUR
Phone Banker25,000 MUR
Private Banker37,100 MUR
Reconciliation and Investigation Specialist42,300 MUR
Tax Officer30,400 MUR
Teller17,700 MUR
Trade Officer20,900 MUR
Trade Product Manager62,100 MUR
Trader24,400 MUR
Treasury Operations Officer44,900 MUR
Wealth Management Advisor75,500 MUR

Banking Jobs Pay Scale and Salaries in Mauritius

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

5% of people earn
52,500 MUR or more
10% of people earn
43,500 to 52,500 MUR
20% of people earn
23,600 MUR or less
65% of people earn
23,600 to 43,500 MUR
Minimum Salary
15,900 MUR
46,900 MUR
104,000 MUR

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 Mauritius range from 15,900 MUR (starting average salary) to 104,000 MUR (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 46,900 MUR, implying that half of the workforce in Mauritius 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 Mauritius earn less than 35,100 MUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 57,800 MUR, 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 Mauritius. The analysis revealed that roughly 65% of all reported salaries fell within the range of 23,600 MUR to 43,500 MUR. Approximately 20% of salaries were below the 23,600 MUR mark, while 10% ranged from 43,500 MUR to 52,500 MUR. Only 5% of individuals earned a gross salary of 52,500 MUR 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 Mauritius 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 Mauritius, 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 Mauritius costs anywhere from 233,000 MUR to 699,000 MUR 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 / Mauritius

Salary comparison by gender Mauritius 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 Mauritius, the average difference between the salary of male and female employees is 9%.

53,100 MUR
48,900 MUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mauritius for all Careers

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

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

Professionals working in Banking in Mauritius 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 Mauritius 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.

Mauritius / All Professions

Annual Salary Increment Rate Mauritius
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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 Mauritius is 2%.

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 / Mauritius

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mauritius Banking
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37% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 63% 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 / Mauritius

290 MUR per hour

The average hourly wage (pay per hour) in Banking in Mauritius is 290 MUR.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 Mauritius is 92 MUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

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 Mauritius is 18% on average across all career fields.

Private Sector
41,900 MUR
Public Sector+18%
49,400 MUR
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 Mauritius?

A good and competitive compensation would range anywhere between 46,900 MUR and 57,800 MUR. 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 Mauritius ranges from 15,900 MUR to 35,100 MUR. 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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