Average Asset Management Associate Salary in Zambia for 2024

In this article, we will look at the average Asset Management Associate salary for 2024 in Zambia and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Zambian kwacha. To keep things simple, we are using the ZMW currency code instead of the currency symbol ZK.

How Much Does an Asset Management Associate Make in Zambia?

An Asset Management Associate working in Zambia will typically earn around 61,680 ZMW per year, and this can range from the lowest average salary of about 31,380 ZMW to the highest average salary of 101,020 ZMW.

Average Annual Salary
61,680 ZMW
Average Monthly Salary
5,140 ZMW

Lowest Annual Salary
31,380 ZMW
Lowest Monthly Salary
2,615 ZMW

Highest Annual Salary
101,020 ZMW
Highest Monthly Salary
8,418 ZMW

These are average salaries for an Asset Management Associate in Zambia and include benefits such as housing and transport. It's also possible for an Asset Management Associate to earn more or less than the average salaries shown above.

Asset Management Associate salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Asset Management Associate Salaries in Zambia

So we've looked at the average salaries an Asset Management Associate will earn in Zambia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Asset Management Associate can earn between 31,380 ZMW and 101,020 ZMW on average in Zambia. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for an Asset Management Associate in Zambia is 63,400 ZMW. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 63,400 ZMW, and 50% of the population earn more than 63,400 ZMW.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Asset Management Associate salary in Zambia, 25% of the population are earning less than 44,800 ZMW while 75% of the population earn more than 44,800 ZMW.

75% of the population earn less than 82,720 ZMW, and 25% of the population earn more than 82,720 ZMW.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Asset Management Associate Salary by Experience Level in Zambia

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average asset management associate salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. An Asset Management Associate in Zambia that has less than two years of experience can expect to earn somewhere in the region of 38,140 ZMW.
  • 2 - 5 Years Experience. With two to five years of experience the average Asset Management Associate salary would increase to 45,600 ZMW.
  • 5 - 10 Years Experience. From five to ten years of experience as an Asset Management Associate, the average salary would be 64,200 ZMW.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 83,020 ZMW.
  • 15 - 20 Years Experience. An Asset Management Associate with 15 to 20 years of experience can earn an average of 88,580 ZMW.
  • 20+ Years Experience. For an Asset Management Associate with more than 20 years, the expected average salary increases to 93,340 ZMW.

Average Salary by Experience Chart

0-2 Years
38,140 ZMW
2-5 Years +29%
45,600 ZMW
5-10 Years +38%
64,200 ZMW
10-15 Years +24%
83,020 ZMW
15-20 Years +7%
88,580 ZMW
20+ Years +7%
93,340 ZMW

Asset Management Associate Salary by Education Level in Zambia

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for an Asset Management Associate in Zambia based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. An Asset Management Associate in Zambia with a high school education can earn an average salary of 45,600 ZMW.

  • Certificate or Diploma. An Asset Management Associate in Zambia with a certificate or diploma education can earn an average salary of 67,300 ZMW.

  • Bachelor's Degree. An Asset Management Associate in Zambia with a bachelor's degree education can earn an average salary of 94,800 ZMW.

Average Salary by Education Chart

High School
45,600 ZMW
Certificate or Diploma +43%
67,300 ZMW
Bachelor's Degree +38%
94,800 ZMW

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Zambia is around 30,000 to 90,000 ZMW and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Asset Management Associate Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Zambia, a male asset management associate will earn an average of 65,800 ZMW, while a female asset management associate will earn around 61,460 ZMW.

This means that a male asset management associate earns approximately 7% more than a female asset management associate for performing the same job.

Average Salary by Gender Chart in Zambia

Male
65,800 ZMW
Female -7%
61,460 ZMW

Asset Management Associate Average Pay Raise in Zambia

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for an Asset Management Associate in Zambia is around 6% every 30 months.

The national average pay raise across all professions and industries in Zambia is around 5% every 28 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 6 ÷ 30 ) × 12  = 2%

What this means is that an Asset Management Associate in Zambia can expect to receive an average pay raise of around 2% every 12 months.

Annual Pay Raise by Industry in Zambia for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Zambia.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Asset Management Associate Bonus and Incentive Rates in Zambia

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

An Asset Management Associate is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 6%.

Received Bonus
38%
No Bonus
62%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Zambia earn approximately 21% more than private sector employees in the same role.

Public Sector
80,180 ZMW
Private Sector -21%
66,260 ZMW

Salaries for Jobs Similar to an Asset Management Associate

In the table below, we have salary information for jobs that are similar to an Asset Management Associate in Zambia.

Job Title Category Salary
Asset Protection Associate Purchasing and Inventory 60,020 ZMW
Asset Protection Specialist Purchasing and Inventory 66,260 ZMW
Assistant Buyer Purchasing and Inventory 58,440 ZMW
Buyer Purchasing and Inventory 96,500 ZMW
Capacity Planner Purchasing and Inventory 73,820 ZMW
Category Leader Purchasing and Inventory 66,960 ZMW
Category Management Specialist Purchasing and Inventory 67,020 ZMW
Category Manager Purchasing and Inventory 74,620 ZMW
Channel Services Representative Purchasing and Inventory 69,040 ZMW
Contracts Manager Purchasing and Inventory 74,300 ZMW
Contracts Specialist Purchasing and Inventory 61,760 ZMW
Demand Planner Purchasing and Inventory 69,060 ZMW
Demand Planning Manager Purchasing and Inventory 85,940 ZMW
Distribution Assistant Purchasing and Inventory 59,380 ZMW
Distribution Associate Purchasing and Inventory 56,880 ZMW
Distribution Manager Purchasing and Inventory 125,700 ZMW
Inventory Analyst Purchasing and Inventory 58,440 ZMW
Inventory Control Clerk Purchasing and Inventory 33,960 ZMW
Inventory Control Manager Purchasing and Inventory 85,760 ZMW
Inventory Management Associate Purchasing and Inventory 68,060 ZMW
Inventory Specialist Purchasing and Inventory 61,780 ZMW
Logistics Engineer Purchasing and Inventory 61,180 ZMW
Master Planner Purchasing and Inventory 60,340 ZMW
Material Handler Purchasing and Inventory 38,700 ZMW
Material Planning Specialist Purchasing and Inventory 51,800 ZMW
Merchandise Manager Purchasing and Inventory 70,600 ZMW
Procurement Administrator Purchasing and Inventory 78,480 ZMW
Procurement Agent Purchasing and Inventory 51,340 ZMW
Procurement Analyst Purchasing and Inventory 80,840 ZMW
Procurement Assistant Purchasing and Inventory 48,560 ZMW
Procurement Associate Purchasing and Inventory 66,100 ZMW
Procurement Clerk Purchasing and Inventory 30,700 ZMW
Procurement Engineer Purchasing and Inventory 63,400 ZMW
Procurement Manager Purchasing and Inventory 127,700 ZMW
Procurement Officer Purchasing and Inventory 29,600 ZMW
Procurement Process Analyst Purchasing and Inventory 72,420 ZMW
Procurement Specialist Purchasing and Inventory 60,920 ZMW
Production Planner Purchasing and Inventory 68,320 ZMW
Project Buyer Purchasing and Inventory 83,400 ZMW
Purchaser Purchasing and Inventory 97,260 ZMW
Purchasing Agent Purchasing and Inventory 55,580 ZMW
Purchasing Assistant Purchasing and Inventory 35,300 ZMW
Purchasing Manager Purchasing and Inventory 136,200 ZMW
Purchasing Officer Purchasing and Inventory 60,180 ZMW
Purchasing Supervisor Purchasing and Inventory 87,060 ZMW
Shipping and Receiving Clerk Purchasing and Inventory 31,960 ZMW
Shipping Coordinator Purchasing and Inventory 62,460 ZMW
Stock Clerk Purchasing and Inventory 35,340 ZMW
Stock Regulator Purchasing and Inventory 39,800 ZMW
Storage Manager Purchasing and Inventory 79,280 ZMW
Store Keeper Purchasing and Inventory 31,340 ZMW
Stores and Logistics Coordinator Purchasing and Inventory 64,920 ZMW
Supply Chain Analyst Purchasing and Inventory 93,140 ZMW
Supply Chain Coordinator Purchasing and Inventory 72,180 ZMW
Supply Chain Development Manager Purchasing and Inventory 119,900 ZMW
Supply Chain Director Purchasing and Inventory 128,500 ZMW
Supply Chain Manager Purchasing and Inventory 130,400 ZMW
Supply Planner Purchasing and Inventory 64,720 ZMW
Warehouse Assistant Purchasing and Inventory 23,700 ZMW
Warehouse Clerk Purchasing and Inventory 26,080 ZMW
Warehouse Executive Purchasing and Inventory 107,880 ZMW
Warehouse Lead Purchasing and Inventory 74,560 ZMW
Warehouse Manager Purchasing and Inventory 110,120 ZMW
Warehouse Supervisor Purchasing and Inventory 82,480 ZMW
Wholesale Buyer Purchasing and Inventory 98,120 ZMW

Salary Comparison by City

If you want to compare salaries with different cities in Zambia, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Lusaka 65,080 ZMW

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