Loan Quality Assurance Auditor Average Salary in Muscat 2024
How much money does a person working as Loan Quality Assurance Auditor make in Muscat?
LOW
1,110
OMR AVERAGE
2,170
OMR HIGH
3,350
OMR
A person working as Loan Quality Assurance Auditor in Muscat typically earns around 2,170 OMR. Salaries range from 1,110 OMR (lowest) to 3,350 OMR (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Loan Quality Assurance Auditor salaries in Muscat 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 Muscat
Salary Structure and Pay Scale Comparison
1,980 OMR or more
1,760 to 1,980 OMR
1,270 OMR or less
1,270 to 1,760 OMR
 1,110 OMR |
1,990 OMR |
3,350 OMR |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Loan Quality Assurance Auditor in Muscat range from 1,110 OMR (starting salary) to 3,350 OMR (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 1,990 OMR, half of the professionals who work as Loan Quality Assurance Auditor in Muscat 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 Muscat earn less than 1,650 OMR, while 75% earn more. Similarly, the chart shows that 75% earn less than 2,270 OMR 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 Muscat compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,270 OMR to 1,760 OMR. About 20% of salaries are below the 1,270 OMR mark, while 10% fall within the range of 1,760 OMR to 1,980 OMR. Only 5% of individuals have salaries exceeding 1,980 OMR.
Salary Comparison by Years of Experience / Loan Quality Assurance Auditor / Muscat
How do experience and age affect pay?
| 0 - 2 Years | 1,240 OMR | |
| 2 - 5 Years | +31% | 1,620 OMR |
| 5 - 10 Years | +40% | 2,270 OMR |
| 10 - 15 Years | +20% | 2,730 OMR |
| 15 - 20 Years | +9% | 2,970 OMR |
| 20+ Years | +8% | 3,200 OMR |
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.
Employees with less than two years of experience earn approximately 1,240 OMR.
While someone with an experience level between two and five years is expected to earn 1,620 OMR, 31% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,270 OMR, 40% 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 2,730 OMR, 20% 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 2,970 OMR, 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 3,200 OMR, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Loan Quality Assurance Auditor / Muscat
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 | 1,530 OMR | |
| Master's Degree | +77% | 2,720 OMR |
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 1,530 OMR.
Level 2: Master's Degree
At this level, the average salary becomes 2,720 OMR, 77% 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 Oman costs anywhere from 8,880 OMR to 26,600 OMR 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 and Compensation Comparison By Gender / Loan Quality Assurance Auditor / Muscat
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 Oman, the average difference between the salary of male and female employees is 6%.
| Male | 1,920 OMR | |
| Female | -6% | 1,810 OMR |
Salary Comparison By Gender in Oman for all Careers
Average Annual Salary Increment Percentage / Loan Quality Assurance Auditor / Muscat
How much are annual salary increments in Muscat for individuals working as Loan Quality Assurance Auditor? How often do employees get salary raises?
Individuals working as Loan Quality Assurance Auditor in Oman are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.
Oman / All Professions
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
Worldwide Salary Raises: All Countries and All Jobs
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 / Oman
How much and how often are bonuses being awarded?
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100% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
| Received Bonus | % | |
| No Bonus | 100% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 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. |
Example: | Example: |
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.
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 / Muscat
13 OMR per hourThe average hourly wage (pay per hour) for individuals working as Loan Quality Assurance Auditor in Muscat is 13 OMR.This is the rate they get paid for every worked hour.
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 Muscat is 6 OMR. 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 Title | Average Salary |
| Banking |  -100% | |
| AML Analyst | 3,020 OMR |  +39% |
| Assistant Bank Branch Manager | 2,520 OMR | +16% |
| Assistant Bank Manager | 3,150 OMR | +45% |
| ATM Manager | 2,730 OMR | +26% |
| ATM Service Technician | 770 OMR | -65% |
| Bank Accounts Analyst | 1,060 OMR | -51% |
| Bank Accounts Collector | 670 OMR | -69% |
| Bank Accounts Controller | 1,390 OMR | -36% |
| Bank Accounts Executive | 2,120 OMR | -2% |
| Bank Accounts Manager | 2,520 OMR | +16% |
| Bank Auditing Manager | 2,550 OMR | +17% |
| Bank Branch Manager | 3,340 OMR | +54% |
| Bank Branch Operations Coordinator | 1,520 OMR | -30% |
| Bank Clerk | 630 OMR | -71% |
| Bank Client Service Associate | 950 OMR | -56% |
| Bank Collector | 670 OMR | -69% |
| Bank Compliance Specialist | 1,760 OMR | -19% |
| Bank Manager | 3,900 OMR | +79% |
| Bank Operational Risk Manager | 3,870 OMR | +78% |
| Bank Operations Head | 4,190 OMR | +93% |
| Bank Operations Officer | 1,600 OMR | -26% |
| Bank Operations Specialist | 2,500 OMR | +15% |
| Bank Process Manager | 2,320 OMR | +7% |
| Bank Product Manager | 2,470 OMR | +14% |
| Bank Programme Manager | 2,740 OMR | +26% |
| Bank Project Manager | 3,150 OMR | +45% |
| Bank Propositions Manager | 2,890 OMR | +33% |
| Bank Quantitative Analyst | 2,080 OMR | -4% |
| Bank Regional Manager | 3,970 OMR | +83% |
| Bank Regional Risk Officer | 2,120 OMR | -2% |
| Bank Relationship Manager | 2,980 OMR | +37% |
| Bank Relationship Officer | 1,340 OMR | -38% |
| Bank Sustainability Analyst | 2,410 OMR | +11% |
| Bank Teller | 720 OMR | -67% |
| Banker | 1,390 OMR | -36% |
| Banking Business Analyst | 2,130 OMR | -2% |
| Banking Business Development Officer | 1,280 OMR | -41% |
| Banking Business Planning Executive | 3,000 OMR | +38% |
| Banking Data Analyst | 2,300 OMR | +6% |
| Banking Product Manager | 2,540 OMR | +17% |
| Banking Reference Data Manager | 2,230 OMR | +3% |
| Banking Regulatory Compliance Officer | 2,420 OMR | +11% |
| Banking Risk Analyst | 2,020 OMR | -7% |
| Banking Technical Analyst | 1,120 OMR | -48% |
| Bankruptcy Coordinator | 1,520 OMR | -30% |
| Bill and Account Collector | 740 OMR | -66% |
| Blockchain Analyst | 1,750 OMR | -19% |
| Blockchain Architect | 2,080 OMR | -4% |
| Blockchain Auditor | 1,890 OMR | -13% |
| Blockchain Compliance Analyst | 1,810 OMR | -17% |
| Blockchain Consultant | 1,950 OMR | -10% |
| Blockchain Trade Facilitator | 1,730 OMR | -20% |
| Budget Analyst | 2,120 OMR | -2% |
| Capital Risk Manager | 3,870 OMR | +78% |
| Cards Marketing Manager | 2,500 OMR | +15% |
| Cash Management Manager | 3,670 OMR | +69% |
| Check Processing Manager | 2,780 OMR | +28% |
| Chief Blockchain Officer | 2,410 OMR | +11% |
| Commercial Vault Associate | 2,000 OMR | -8% |
| Corporate Banker | 1,520 OMR | -30% |
| Corporate Dealer | 2,120 OMR | -2% |
| Credit Analyst | 1,630 OMR | -25% |
| Credit and Collections Manager | 2,900 OMR | +33% |
| Credit Card Fraud Investigator | 2,060 OMR | -5% |
| Credit Portfolio Manager | 3,720 OMR | +71% |
| Credit Risk Analyst | 2,230 OMR | +3% |
| Credit Risk Associate | 2,130 OMR | -2% |
| Cryptocurrency Accountant | 1,330 OMR | -39% |
| Cryptocurrency Adviser | 2,650 OMR | +22% |
| Cryptocurrency Analyst | 1,840 OMR | -15% |
| Cryptocurrency Compliance Manager | 2,350 OMR | +8% |
| Cryptocurrency Trader | 2,160 OMR | -1% |
| Digital Banking Manager | 2,680 OMR | +23% |
| Digital Currency Analyst | 2,020 OMR | -7% |
| Direct Bank Sales Representative | 1,450 OMR | -33% |
| Exchange Control Consultant | 2,220 OMR | +2% |
| Executive Account Analyst | 2,010 OMR | -8% |
| Financial Bank Planning Consultant | 2,690 OMR | +24% |
| Financial Banking Analysis Manager | 3,160 OMR | +45% |
| Financial Banking Assistant | 950 OMR | -56% |
| Financial Banking Systems Manager | 2,790 OMR | +28% |
| Foreign Exchange Manager | 3,060 OMR | +41% |
| Fraud Analyst | 2,170 OMR | -0% |
| Fraud Detection Associate | 1,550 OMR | -29% |
| Fraud Detection Manager | 3,100 OMR | +43% |
| Fraud Detection Supervisor | 1,740 OMR | -20% |
| Internal Bank Audit Manager | 3,820 OMR | +76% |
| Internal Bank Auditor | 2,080 OMR | -4% |
| Internal Private Banker | 1,480 OMR | -32% |
| International Banking Manager | 4,070 OMR | +87% |
| Investment Banking Analyst | 2,950 OMR | +36% |
| Loan Analyst | 2,070 OMR | -5% |
| Loan Area Manager | 2,480 OMR | +14% |
| Loan Audit Team Leader | 2,320 OMR | +7% |
| Loan Branch Manager | 2,360 OMR | +9% |
| Loan Business Development Officer | 1,300 OMR | -40% |
| Loan Clerk | 710 OMR | -67% |
| Loan Collection and Recovery Manager | 2,520 OMR | +16% |
| Loan Collection Manager | 2,450 OMR | +13% |
| Loan Collector | 700 OMR | -68% |
| Loan Examiner | 870 OMR | -60% |
| Loan Officer | 800 OMR | -63% |
| Loan Processing Manager | 2,200 OMR | +1% |
| Loan Processor | 940 OMR | -57% |
| Loan Quality Assurance Auditor | 2,170 OMR | -0% |
| Loan Quality Assurance Manager | 2,240 OMR | +3% |
| Loan Quality Assurance Representative | 1,530 OMR | -30% |
| Loan Review Manager | 2,370 OMR | +9% |
| Loan Team Leader | 2,170 OMR | -0% |
| Loans Manager | 2,660 OMR | +22% |
| Mortgage Advisor | 1,390 OMR | -36% |
| Mortgage Collection Manager | 2,400 OMR | +10% |
| Mortgage Collector | 690 OMR | -68% |
| Mortgage Credit Analyst | 1,140 OMR | -48% |
| Mortgage Credit Manager | 2,230 OMR | +3% |
| Mortgage Development Manager | 2,620 OMR | +21% |
| Mortgage Document Reviewer | 920 OMR | -58% |
| Mortgage Funding Manager | 2,780 OMR | +28% |
| Mortgage Operations Manager | 3,450 OMR | +59% |
| Mortgage Payment Processing Clerk | 780 OMR | -64% |
| Mortgage Processing Manager | 2,280 OMR | +5% |
| Mortgage Processor | 920 OMR | -58% |
| Mortgage Quality Assurance Auditor | 2,070 OMR | -5% |
| Mortgage Quality Assurance Manager | 2,430 OMR | +12% |
| Mortgage Servicing Clerk | 730 OMR | -66% |
| Mortgage Servicing Manager | 2,370 OMR | +9% |
| Mortgage Underwriter | 840 OMR | -61% |
| Online Banking Manager | 3,550 OMR | +63% |
| Open Banking Strategist | 2,120 OMR | -2% |
| Payment Processing Clerk | 740 OMR | -66% |
| Personal Banker | 1,440 OMR | -34% |
| Personal Banking Advisor | 1,510 OMR | -31% |
| Phone Banker | 1,010 OMR | -54% |
| Private Banker | 1,550 OMR | -29% |
| Reconciliation and Investigation Specialist | 1,630 OMR | -25% |
| Tax Officer | 1,200 OMR | -45% |
| Teller | 720 OMR | -67% |
| Trade Officer | 840 OMR | -61% |
| Trade Product Manager | 2,460 OMR | +13% |
| Trader | 1,060 OMR | -51% |
| Treasury Operations Officer | 1,810 OMR | -17% |
| Wealth Management Advisor | 3,060 OMR | +41% |
Salary Comparison By City
| City | Average Salary |
| Muscat | 2,170 OMR |
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 Oman is 7% on average across all career fields.
| Private Sector | 1,700 OMR | |
| Public Sector | +7% | 1,830 OMR |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Loan Quality Assurance Auditor in Muscat?
A good and competitive compensation would range anywhere between 1,990 OMR and 2,270 OMR. 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 Muscat ranges from 1,110 OMR to 1,650 OMR. 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
