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).
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.
|Job Title||Average Salary|
|AML Analyst||73,300 MUR|
|Assistant Bank Branch Manager||60,100 MUR|
|Assistant Bank Manager||77,500 MUR|
|ATM Manager||68,000 MUR|
|ATM Service Technician||19,400 MUR|
|Bank Accounts Analyst||26,900 MUR|
|Bank Accounts Collector||16,400 MUR|
|Bank Accounts Controller||36,500 MUR|
|Bank Accounts Executive||50,900 MUR|
|Bank Accounts Manager||61,200 MUR|
|Bank Auditing Manager||58,800 MUR|
|Bank Branch Manager||87,300 MUR|
|Bank Branch Operations Coordinator||36,400 MUR|
|Bank Clerk||16,100 MUR|
|Bank Client Service Associate||22,100 MUR|
|Bank Collector||16,600 MUR|
|Bank Compliance Specialist||45,600 MUR|
|Bank Manager||98,300 MUR|
|Bank Operational Risk Manager||98,000 MUR|
|Bank Operations Head||103,000 MUR|
|Bank Operations Officer||40,600 MUR|
|Bank Operations Specialist||63,700 MUR|
|Bank Process Manager||54,500 MUR|
|Bank Product Manager||61,500 MUR|
|Bank Programme Manager||65,600 MUR|
|Bank Project Manager||77,100 MUR|
|Bank Propositions Manager||67,600 MUR|
|Bank Quantitative Analyst||48,200 MUR|
|Bank Regional Manager||106,000 MUR|
|Bank Regional Risk Officer||50,400 MUR|
|Bank Relationship Manager||73,000 MUR|
|Bank Relationship Officer||32,900 MUR|
|Bank Sustainability Analyst||57,900 MUR|
|Bank Teller||17,900 MUR|
|Banking Business Analyst||52,100 MUR|
|Banking Business Development Officer||31,800 MUR|
|Banking Business Planning Executive||75,000 MUR|
|Banking Data Analyst||61,600 MUR|
|Banking Product Manager||64,100 MUR|
|Banking Reference Data Manager||55,500 MUR|
|Banking Regulatory Compliance Officer||59,400 MUR|
|Banking Risk Analyst||48,700 MUR|
|Banking Technical Analyst||27,400 MUR|
|Bankruptcy Coordinator||35,600 MUR|
|Bill and Account Collector||17,500 MUR|
|Blockchain Analyst||42,600 MUR|
|Blockchain Architect||51,400 MUR|
|Blockchain Auditor||47,200 MUR|
|Blockchain Compliance Analyst||45,800 MUR|
|Blockchain Consultant||49,800 MUR|
|Blockchain Trade Facilitator||42,500 MUR|
|Budget Analyst||51,400 MUR|
|Capital Risk Manager||94,900 MUR|
|Cards Marketing Manager||63,500 MUR|
|Cash Management Manager||92,100 MUR|
|Check Processing Manager||63,900 MUR|
|Chief Blockchain Officer||59,100 MUR|
|Commercial Vault Associate||51,500 MUR|
|Corporate Banker||38,000 MUR|
|Corporate Dealer||54,800 MUR|
|Credit Analyst||38,800 MUR|
|Credit and Collections Manager||69,900 MUR|
|Credit Card Fraud Investigator||55,500 MUR|
|Credit Portfolio Manager||97,600 MUR|
|Credit Risk Analyst||58,900 MUR|
|Credit Risk Associate||56,000 MUR|
|Cryptocurrency Accountant||33,900 MUR|
|Cryptocurrency Adviser||61,900 MUR|
|Cryptocurrency Analyst||48,100 MUR|
|Cryptocurrency Compliance Manager||56,100 MUR|
|Cryptocurrency Trader||52,100 MUR|
|Digital Banking Manager||68,700 MUR|
|Digital Currency Analyst||49,500 MUR|
|Direct Bank Sales Representative||35,800 MUR|
|Exchange Control Consultant||52,300 MUR|
|Executive Account Analyst||48,900 MUR|
|Financial Bank Planning Consultant||64,000 MUR|
|Financial Banking Analysis Manager||72,300 MUR|
|Financial Banking Assistant||24,400 MUR|
|Financial Banking Systems Manager||72,200 MUR|
|Foreign Exchange Manager||72,500 MUR|
|Fraud Analyst||52,100 MUR|
|Fraud Detection Associate||37,300 MUR|
|Fraud Detection Manager||80,900 MUR|
|Fraud Detection Supervisor||46,700 MUR|
|Internal Bank Audit Manager||94,900 MUR|
|Internal Bank Auditor||47,400 MUR|
|Internal Private Banker||37,800 MUR|
|International Banking Manager||104,000 MUR|
|Investment Banking Analyst||72,900 MUR|
|Loan Analyst||50,500 MUR|
|Loan Area Manager||59,700 MUR|
|Loan Audit Team Leader||55,900 MUR|
|Loan Branch Manager||57,500 MUR|
|Loan Business Development Officer||32,200 MUR|
|Loan Clerk||17,700 MUR|
|Loan Collection and Recovery Manager||64,300 MUR|
|Loan Collection Manager||62,000 MUR|
|Loan Collector||16,500 MUR|
|Loan Examiner||22,800 MUR|
|Loan Officer||18,900 MUR|
|Loan Processing Manager||52,800 MUR|
|Loan Processor||22,900 MUR|
|Loan Quality Assurance Auditor||53,400 MUR|
|Loan Quality Assurance Manager||55,800 MUR|
|Loan Quality Assurance Representative||38,600 MUR|
|Loan Review Manager||60,400 MUR|
|Loan Team Leader||50,700 MUR|
|Loans Manager||67,600 MUR|
|Mortgage Advisor||36,200 MUR|
|Mortgage Collection Manager||57,300 MUR|
|Mortgage Collector||16,600 MUR|
|Mortgage Credit Analyst||28,000 MUR|
|Mortgage Credit Manager||55,200 MUR|
|Mortgage Development Manager||65,700 MUR|
|Mortgage Document Reviewer||23,200 MUR|
|Mortgage Funding Manager||64,700 MUR|
|Mortgage Operations Manager||85,200 MUR|
|Mortgage Payment Processing Clerk||19,500 MUR|
|Mortgage Processing Manager||59,400 MUR|
|Mortgage Processor||24,200 MUR|
|Mortgage Quality Assurance Auditor||52,400 MUR|
|Mortgage Quality Assurance Manager||56,300 MUR|
|Mortgage Servicing Clerk||17,600 MUR|
|Mortgage Servicing Manager||57,900 MUR|
|Mortgage Underwriter||21,800 MUR|
|Online Banking Manager||91,700 MUR|
|Open Banking Strategist||52,100 MUR|
|Payment Processing Clerk||17,500 MUR|
|Personal Banker||38,400 MUR|
|Personal Banking Advisor||37,200 MUR|
|Phone Banker||25,000 MUR|
|Private Banker||37,100 MUR|
|Reconciliation and Investigation Specialist||42,300 MUR|
|Tax Officer||30,400 MUR|
|Trade Officer||20,900 MUR|
|Trade Product Manager||62,100 MUR|
|Treasury Operations Officer||44,900 MUR|
|Wealth Management Advisor||75,500 MUR|
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.
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.
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.
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.
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.
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.
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.
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%.
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.
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
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.
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.
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.
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 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.
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.
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.
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 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.
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