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Loan Quality Assurance Auditor Average Salary in Sri Lanka 2024

How much money does a person working as Loan Quality Assurance Auditor make in Sri Lanka?


Average Monthly Salary
106,000 LKR
( 1,270,000 LKR yearly)

LOW
55,000
LKR
AVERAGE
106,000
LKR
HIGH
162,000
LKR
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 Sri Lanka typically earns around 106,000 LKR. Salaries range from 55,000 LKR (lowest) to 162,000 LKR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Loan Quality Assurance Auditor salaries in Sri Lanka 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 Sri Lanka

Median and salary distribution Sri Lanka Loan Quality Assurance Auditor monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
95,700 LKR or more
10% of people earn
85,300 to 95,700 LKR
20% of people earn
62,200 LKR or less
65% of people earn
62,200 to 85,300 LKR
Minimum Salary
55,000 LKR
Median
96,100 LKR
Maximum
162,000 LKR




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 Sri Lanka range from 55,000 LKR (starting salary) to 162,000 LKR (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 96,100 LKR, half of the professionals who work as Loan Quality Assurance Auditor in Sri Lanka 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 Sri Lanka earn less than 79,700 LKR, while 75% earn more. Similarly, the chart shows that 75% earn less than 109,000 LKR 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 Sri Lanka compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 62,200 LKR to 85,300 LKR. About 20% of salaries are below the 62,200 LKR mark, while 10% fall within the range of 85,300 LKR to 95,700 LKR. Only 5% of individuals have salaries exceeding 95,700 LKR.

Salary Comparison by Years of Experience / Loan Quality Assurance Auditor / Sri Lanka

How do experience and age affect pay?

0 - 2 Years
62,400 LKR
2 - 5 Years+34%
83,800 LKR
5 - 10 Years+30%
109,000 LKR
10 - 15 Years+21%
132,000 LKR
15 - 20 Years+9%
144,000 LKR
20+ Years+5%
152,000 LKR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Sri Lanka Loan Quality Assurance Auditor
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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. 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 62,400 LKR.

While someone with an experience level between two and five years is expected to earn 83,800 LKR, 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 109,000 LKR, 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 132,000 LKR, 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 144,000 LKR, 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 152,000 LKR, 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
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Salary Comparison By Education / Loan Quality Assurance Auditor / Sri Lanka

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
88,100 LKR
Master's Degree+39%
122,000 LKR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Sri Lanka Loan Quality Assurance Auditor
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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 88,100 LKR.


Level 2: Master's Degree

At this level, the average salary becomes 122,000 LKR, 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 Sri Lanka costs anywhere from 450,000 LKR to 1,350,000 LKR 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
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Salary and Compensation Comparison By Gender / Loan Quality Assurance Auditor / Sri Lanka

Salary comparison by gender Sri Lanka Loan Quality Assurance Auditor 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? For the people who work as Loan Quality Assurance Auditor in Sri Lanka, the average difference between the salary of male and female employees is 10%.

Male
112,000 LKR
Female-9%
102,000 LKR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Sri Lanka for all Careers

Salary comparison by gender monthly Sri Lanka
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Average Annual Salary Increment Percentage / Loan Quality Assurance Auditor / Sri Lanka

How much are annual salary increments in Sri Lanka for individuals working as Loan Quality Assurance Auditor? How often do employees get salary raises?

Individuals working as Loan Quality Assurance Auditor in Sri Lanka are likely to observe a salary increase of approximately 13% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Sri Lanka Loan Quality Assurance Auditor
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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.

Sri Lanka / All Professions

Annual Salary Increment Rate Sri Lanka
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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 Sri Lanka is 6%.

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 / Loan Quality Assurance Auditor / Sri Lanka

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Sri Lanka Loan Quality Assurance Auditor
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23% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 77% 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
77%
No Bonus
23%

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 / Sri Lanka


610 LKR per hour

The average hourly wage (pay per hour) for individuals working as Loan Quality Assurance Auditor in Sri Lanka is 610 LKR.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 Sri Lanka is 320 LKR. 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 Analyst146,000 LKR+38%
Assistant Bank Branch Manager128,000 LKR+21%
Assistant Bank Manager165,000 LKR+56%
ATM Manager140,000 LKR+32%
ATM Service Technician38,800 LKR-63%
Bank Accounts Analyst52,500 LKR-50%
Bank Accounts Collector31,900 LKR-70%
Bank Accounts Controller70,400 LKR-33%
Bank Accounts Executive105,000 LKR-1%
Bank Accounts Manager122,000 LKR+15%
Bank Auditing Manager125,000 LKR+18%
Bank Branch Manager174,000 LKR+65%
Bank Branch Operations Coordinator74,900 LKR-29%
Bank Clerk31,100 LKR-71%
Bank Client Service Associate44,000 LKR-58%
Bank Collector34,300 LKR-68%
Bank Compliance Specialist85,600 LKR-19%
Bank Manager201,000 LKR+90%
Bank Operational Risk Manager193,000 LKR+83%
Bank Operations Head204,000 LKR+93%
Bank Operations Officer75,400 LKR-29%
Bank Operations Specialist126,000 LKR+19%
Bank Process Manager107,000 LKR+1%
Bank Product Manager 130,000 LKR+23%
Bank Programme Manager140,000 LKR+32%
Bank Project Manager150,000 LKR+42%
Bank Propositions Manager142,000 LKR+34%
Bank Quantitative Analyst95,800 LKR-9%
Bank Regional Manager214,000 LKR+100%
Bank Regional Risk Officer101,000 LKR-4%
Bank Relationship Manager142,000 LKR+34%
Bank Relationship Officer68,400 LKR-35%
Bank Sustainability Analyst116,000 LKR+10%
Bank Teller33,500 LKR-68%
Banker70,700 LKR-33%
Banking Business Analyst104,000 LKR-2%
Banking Business Development Officer61,400 LKR-42%
Banking Business Planning Executive146,000 LKR+38%
Banking Data Analyst120,000 LKR+14%
Banking Product Manager127,000 LKR+20%
Banking Reference Data Manager114,000 LKR+8%
Banking Regulatory Compliance Officer124,000 LKR+17%
Banking Risk Analyst99,300 LKR-6%
Banking Technical Analyst55,600 LKR-47%
Bankruptcy Coordinator75,300 LKR-29%
Bill and Account Collector35,300 LKR-67%
Blockchain Analyst86,200 LKR-18%
Blockchain Architect100,000 LKR-5%
Blockchain Auditor89,400 LKR-15%
Blockchain Compliance Analyst92,700 LKR-12%
Blockchain Consultant97,500 LKR-8%
Blockchain Trade Facilitator86,200 LKR-18%
Budget Analyst106,000 LKR+0%
Capital Risk Manager185,000 LKR+75%
Cards Marketing Manager124,000 LKR+17%
Cash Management Manager172,000 LKR+63%
Check Processing Manager128,000 LKR+21%
Chief Blockchain Officer109,000 LKR+3%
Commercial Vault Associate104,000 LKR-2%
Corporate Banker71,100 LKR-33%
Corporate Dealer107,000 LKR+1%
Credit Analyst77,700 LKR-26%
Credit and Collections Manager136,000 LKR+29%
Credit Card Fraud Investigator104,000 LKR-2%
Credit Portfolio Manager193,000 LKR+83%
Credit Risk Analyst120,000 LKR+14%
Credit Risk Associate107,000 LKR+1%
Cryptocurrency Accountant67,200 LKR-36%
Cryptocurrency Adviser131,000 LKR+24%
Cryptocurrency Analyst98,500 LKR-7%
Cryptocurrency Compliance Manager123,000 LKR+16%
Cryptocurrency Trader110,000 LKR+4%
Digital Banking Manager138,000 LKR+31%
Digital Currency Analyst103,000 LKR-3%
Direct Bank Sales Representative71,800 LKR-32%
Exchange Control Consultant113,000 LKR+7%
Executive Account Analyst99,000 LKR-6%
Financial Bank Planning Consultant128,000 LKR+21%
Financial Banking Analysis Manager150,000 LKR+42%
Financial Banking Assistant48,900 LKR-54%
Financial Banking Systems Manager140,000 LKR+32%
Foreign Exchange Manager151,000 LKR+43%
Fraud Analyst110,000 LKR+4%
Fraud Detection Associate74,900 LKR-29%
Fraud Detection Manager166,000 LKR+57%
Fraud Detection Supervisor90,900 LKR-14%
Internal Bank Audit Manager191,000 LKR+81%
Internal Bank Auditor102,000 LKR-4%
Internal Private Banker74,100 LKR-30%
International Banking Manager216,000 LKR+100%
Investment Banking Analyst146,000 LKR+38%
Loan Analyst99,700 LKR-6%
Loan Area Manager122,000 LKR+15%
Loan Audit Team Leader114,000 LKR+8%
Loan Branch Manager113,000 LKR+7%
Loan Business Development Officer61,400 LKR-42%
Loan Clerk36,000 LKR-66%
Loan Collection and Recovery Manager123,000 LKR+16%
Loan Collection Manager122,000 LKR+15%
Loan Collector33,700 LKR-68%
Loan Examiner45,100 LKR-57%
Loan Officer40,700 LKR-61%
Loan Processing Manager112,000 LKR+6%
Loan Processor46,800 LKR-56%
Loan Quality Assurance Auditor106,000 LKR+0%
Loan Quality Assurance Manager118,000 LKR+12%
Loan Quality Assurance Representative79,000 LKR-25%
Loan Review Manager120,000 LKR+14%
Loan Team Leader107,000 LKR+1%
Loans Manager132,000 LKR+25%
Mortgage Advisor74,100 LKR-30%
Mortgage Collection Manager125,000 LKR+18%
Mortgage Collector35,100 LKR-67%
Mortgage Credit Analyst51,900 LKR-51%
Mortgage Credit Manager110,000 LKR+4%
Mortgage Development Manager126,000 LKR+19%
Mortgage Document Reviewer43,100 LKR-59%
Mortgage Funding Manager128,000 LKR+21%
Mortgage Operations Manager175,000 LKR+66%
Mortgage Payment Processing Clerk38,800 LKR-63%
Mortgage Processing Manager114,000 LKR+8%
Mortgage Processor45,000 LKR-57%
Mortgage Quality Assurance Auditor101,000 LKR-4%
Mortgage Quality Assurance Manager116,000 LKR+10%
Mortgage Servicing Clerk34,900 LKR-67%
Mortgage Servicing Manager111,000 LKR+5%
Mortgage Underwriter43,500 LKR-59%
Online Banking Manager185,000 LKR+75%
Open Banking Strategist108,000 LKR+2%
Payment Processing Clerk37,800 LKR-64%
Personal Banker72,600 LKR-31%
Personal Banking Advisor 74,500 LKR-30%
Phone Banker50,400 LKR-52%
Private Banker77,300 LKR-27%
Reconciliation and Investigation Specialist84,200 LKR-20%
Tax Officer59,300 LKR-44%
Teller33,400 LKR-68%
Trade Officer41,600 LKR-61%
Trade Product Manager120,000 LKR+14%
Trader50,300 LKR-52%
Treasury Operations Officer86,800 LKR-18%
Wealth Management Advisor148,000 LKR+40%

Salary Comparison By City

CityAverage Salary
Colombo115,000 LKR

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 Sri Lanka is 8% on average across all career fields.

Private Sector
86,300 LKR
Public Sector+8%
92,900 LKR
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 Sri Lanka?

A good and competitive compensation would range anywhere between 96,100 LKR and 109,000 LKR. 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 Sri Lanka ranges from 55,000 LKR to 79,700 LKR. 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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