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Banking Average Salaries in Copenhagen 2021

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


Average Monthly Salary
47,300 DKK
( 567,000 DKK yearly)

LOW
14,900
DKK
AVERAGE
47,300
DKK
HIGH
97,000
DKK

A person working in Banking in Copenhagen typically earns around 47,300 DKK per month. Salaries range from 14,900 DKK (lowest average) to 97,000 DKK (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst66,600 DKK
Assistant Bank Branch Manager57,500 DKK
Assistant Bank Manager77,300 DKK
ATM Manager67,300 DKK
ATM Service Technician17,300 DKK
Bank Accounts Analyst25,500 DKK
Bank Accounts Controller33,700 DKK
Bank Accounts Executive46,500 DKK
Bank Accounts Manager55,600 DKK
Bank Auditing Manager57,400 DKK
Bank Branch Manager76,000 DKK
Bank Clerk14,700 DKK
Bank Compliance Specialist41,600 DKK
Bank Manager94,200 DKK
Bank Operational Risk Manager89,900 DKK
Bank Operations Head90,600 DKK
Bank Operations Officer36,600 DKK
Bank Operations Specialist54,900 DKK
Bank Process Manager52,100 DKK
Bank Product Manager 59,500 DKK
Bank Programme Manager62,700 DKK
Bank Project Manager74,600 DKK
Bank Propositions Manager66,000 DKK
Bank Quantitative Analyst47,700 DKK
Bank Regional Manager93,500 DKK
Bank Regional Risk Officer50,300 DKK
Bank Relationship Manager70,600 DKK
Bank Relationship Officer30,400 DKK
Banker33,000 DKK
Banking Business Analyst49,100 DKK
Banking Business Development Officer29,800 DKK
Banking Business Planning Executive65,800 DKK
Banking Product Manager58,900 DKK
Banking Reference Data Manager54,900 DKK
Banking Risk Analyst45,900 DKK
Banking Technical Analyst26,000 DKK
Bankruptcy Coordinator33,600 DKK
Budget Analyst48,800 DKK
Cards Marketing Manager60,100 DKK
Cash Management Manager85,700 DKK
Check Processing Manager65,200 DKK
Commercial Vault Associate46,400 DKK
Corporate Dealer52,200 DKK
Credit Analyst38,700 DKK
Credit and Collections Manager62,700 DKK
Credit Card Fraud Investigator49,500 DKK
Credit Portfolio Manager87,700 DKK
Credit Risk Analyst53,600 DKK
Credit Risk Associate53,200 DKK
Direct Bank Sales Representative35,000 DKK
Financial Bank Planning Consultant63,900 DKK
Financial Banking Analysis Manager69,900 DKK
Financial Banking Assistant23,300 DKK
Financial Banking Systems Manager68,600 DKK
Foreign Exchange Manager68,500 DKK
Fraud Analyst51,500 DKK
Fraud Detection Associate35,000 DKK
Fraud Detection Manager76,000 DKK
Fraud Detection Supervisor43,500 DKK
Internal Bank Audit Manager87,200 DKK
Internal Bank Auditor47,800 DKK
International Banking Manager94,100 DKK
Loan Analyst47,400 DKK
Loan Area Manager56,400 DKK
Loan Audit Team Leader52,800 DKK
Loan Branch Manager53,900 DKK
Loan Business Development Officer30,000 DKK
Loan Clerk16,300 DKK
Loan Collection Manager56,900 DKK
Loan Collector16,500 DKK
Loan Examiner20,500 DKK
Loan Processing Manager52,100 DKK
Loan Processor22,400 DKK
Loan Quality Assurance Auditor47,000 DKK
Loan Quality Assurance Manager53,900 DKK
Loan Quality Assurance Representative37,000 DKK
Loan Review Manager52,000 DKK
Loan Team Leader48,000 DKK
Mortgage Advisor34,000 DKK
Mortgage Collection Manager59,000 DKK
Mortgage Collector15,400 DKK
Mortgage Credit Analyst25,700 DKK
Mortgage Credit Manager55,700 DKK
Mortgage Development Manager59,600 DKK
Mortgage Document Reviewer20,900 DKK
Mortgage Funding Manager64,000 DKK
Mortgage Operations Manager81,300 DKK
Mortgage Payment Processing Clerk18,500 DKK
Mortgage Processing Manager52,700 DKK
Mortgage Processor21,300 DKK
Mortgage Quality Assurance Auditor49,300 DKK
Mortgage Quality Assurance Manager52,600 DKK
Mortgage Servicing Clerk17,000 DKK
Mortgage Servicing Manager55,600 DKK
Mortgage Underwriter20,300 DKK
Online Banking Manager82,500 DKK
Payment Processing Clerk17,300 DKK
Personal Banker35,300 DKK
Personal Banking Advisor 36,400 DKK
Phone Banker23,000 DKK
Private Banker36,400 DKK
Reconciliation and Investigation Specialist39,200 DKK
Teller17,000 DKK
Trade Officer19,800 DKK
Trade Product Manager58,500 DKK
Trader22,800 DKK
Treasury Operations Officer42,000 DKK

Banking Jobs Salary Distribution in Copenhagen

Median and salary distribution monthly Copenhagen Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Copenhagen range from 14,900 DKK per month (minimum average salary) to 97,000 DKK per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 51,000 DKK per month, which means that half (50%) of people working in Banking are earning less than 51,000 DKK while the other half are earning more than 51,000 DKK. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 29,700 DKK while 75% of them are earning more than 29,700 DKK. Also from the diagram, 75% of people working in Banking are earning less than 80,000 DKK while 25% are earning more than 80,000 DKK.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

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 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.


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.

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.

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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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 degrees levels across many jobs, below are our findings.


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.

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 cerificate 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 Denmark costs anywhere from 203,000 Danish Krone(s) to 610,000 Danish Krone(s) 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Denmark Banking
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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? Male employees in Denmark who work in Banking earn 4% more than their female counterparts on average.

Male
45,100 DKK
Female-4%
43,300 DKK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Denmark for all Careers

Salary comparison by gender monthly Denmark
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Banking Average Annual Salary Increment Percentage in Denmark

How much are annual salary increments in Denmark for Banking professionals? How often do employees get salary raises?

Banking

Banking professionals in Denmark are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Denmark 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.

Denmark / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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 Denmark is 7%.

Annual Increment Rate By Industry 2020

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Listed above are the average annual increase rates for each industry in Denmark for the year 2020. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Denmark

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Denmark Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

19% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 81% 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
81%
No Bonus
19%

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.

Banking Hourly Average Wage in Copenhagen


270 DKK per hour

The average hourly wage (pay per hour) in Copenhagen is 270 DKK. This means that the average person in Copenhagen earns approximately 270 DKK for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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 fix 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.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Copenhagen
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The average salary for Banking is 9% more than that of All Jobs.

Copenhagen VS Denmark

Salary Comparison Between Copenhagen and Denmark monthly Banking
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We compared Banking salaries in Copenhagen and Denmark and we found that Copenhagen salaries are 7% more than those of Denmark.

Salary Comparison By City

CityAverage Salary
Copenhagen47,300 DKK

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Denmark earn 6% more than their private sector counterparts on average across all sectors.

Private Sector
39,500 DKK
Public Sector+6%
41,800 DKK
Percentage increase and decrease are relative to the previous value

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