Average Assistant Bank Manager Salary in Bahamas for 2024

In this article, we will look at the average Assistant Bank Manager salary for 2024 in Bahamas 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 Bahamian dollar. To keep things simple, we are using the BSD currency code instead of the currency symbol $.

How Much Does an Assistant Bank Manager Make in Bahamas?

An Assistant Bank Manager working in Bahamas will typically earn around 87,300 BSD per year, and this can range from the lowest average salary of about 45,600 BSD to the highest average salary of 130,500 BSD.

Average Annual Salary
87,300 BSD
Average Monthly Salary
7,275 BSD

Lowest Annual Salary
45,600 BSD
Lowest Monthly Salary
3,800 BSD

Highest Annual Salary
130,500 BSD
Highest Monthly Salary
10,875 BSD

These are average salaries for an Assistant Bank Manager in Bahamas and include benefits such as housing and transport. It's also possible for an Assistant Bank Manager to earn more or less than the average salaries shown above.

Assistant Bank Manager 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 Assistant Bank Manager Salaries in Bahamas

So we've looked at the average salaries an Assistant Bank Manager will earn in Bahamas. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Assistant Bank Manager can earn between 45,600 BSD and 130,500 BSD on average in Bahamas. 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 Assistant Bank Manager in Bahamas is 83,700 BSD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 83,700 BSD, and 50% of the population earn more than 83,700 BSD.

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 Assistant Bank Manager salary in Bahamas, 25% of the population are earning less than 58,100 BSD while 75% of the population earn more than 58,100 BSD.

75% of the population earn less than 103,600 BSD, and 25% of the population earn more than 103,600 BSD.

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.

Assistant Bank Manager Salary by Experience Level in Bahamas

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 assistant bank manager 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 Assistant Bank Manager in Bahamas that has less than two years of experience can expect to earn somewhere in the region of 49,200 BSD.
  • 2 - 5 Years Experience. With two to five years of experience the average Assistant Bank Manager salary would increase to 66,200 BSD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Assistant Bank Manager, the average salary would be 88,400 BSD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 107,300 BSD.
  • 15 - 20 Years Experience. An Assistant Bank Manager with 15 to 20 years of experience can earn an average of 114,300 BSD.
  • 20+ Years Experience. For an Assistant Bank Manager with more than 20 years, the expected average salary increases to 123,000 BSD.

Average Salary by Experience Chart

0-2 Years
49,200 BSD
2-5 Years +34%
66,200 BSD
5-10 Years +30%
88,400 BSD
10-15 Years +21%
107,300 BSD
15-20 Years +9%
114,300 BSD
20+ Years +5%
123,000 BSD

Assistant Bank Manager Salary by Education Level in Bahamas

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 Assistant Bank Manager in Bahamas based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. An Assistant Bank Manager in Bahamas with a bachelor's degree education can earn an average salary of 69,200 BSD.

  • Master's Degree. An Assistant Bank Manager in Bahamas with a master's degree education can earn an average salary of 97,600 BSD.

Average Salary by Education Chart

Bachelor's Degree
69,200 BSD
Master's Degree +39%
97,600 BSD

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 Bahamas is around 19,500 to 58,400 BSD 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.

Assistant Bank Manager 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 Bahamas, a male assistant bank manager will earn an average of 91,700 BSD, while a female assistant bank manager will earn around 81,600 BSD.

This means that a male assistant bank manager earns approximately 12% more than a female assistant bank manager for performing the same job.

Average Salary by Gender Chart in Bahamas

Male
91,700 BSD
Female -12%
81,600 BSD

Assistant Bank Manager Average Pay Raise in Bahamas

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 Assistant Bank Manager in Bahamas is around 10% every 28 months.

The national average pay raise across all professions and industries in Bahamas 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 = ( 10 ÷ 28 ) × 12  = 4%

What this means is that an Assistant Bank Manager in Bahamas can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Bahamas for 2024

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

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

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Assistant Bank Manager Bonus and Incentive Rates in Bahamas

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 Assistant Bank Manager is a low bonus based job, with 37% of employees reporting at least one bonus in the last 12 months.

63% 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 5%.

Received Bonus
37%
No Bonus
63%

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 Bahamas earn approximately 11% more than private sector employees in the same role.

Public Sector
51,500 BSD
Private Sector -11%
46,300 BSD

Salaries for Jobs Similar to an Assistant Bank Manager

In the table below, we have salary information for jobs that are similar to an Assistant Bank Manager in Bahamas.

Job Title Category Salary
AML Analyst Banking 73,700 BSD
Assistant Bank Branch Manager Banking 64,600 BSD
ATM Manager Banking 71,400 BSD
ATM Service Technician Banking 17,900 BSD
Bank Accounts Analyst Banking 26,300 BSD
Bank Accounts Collector Banking 17,500 BSD
Bank Accounts Controller Banking 34,700 BSD
Bank Accounts Executive Banking 51,100 BSD
Bank Accounts Manager Banking 63,000 BSD
Bank Auditing Manager Banking 59,800 BSD
Bank Branch Manager Banking 84,800 BSD
Bank Branch Operations Coordinator Banking 36,700 BSD
Bank Clerk Banking 15,300 BSD
Bank Client Service Associate Banking 22,000 BSD
Bank Collector Banking 18,000 BSD
Bank Compliance Specialist Banking 48,600 BSD
Bank Manager Banking 94,300 BSD
Bank Operational Risk Manager Banking 102,700 BSD
Bank Operations Head Banking 105,800 BSD
Bank Operations Officer Banking 41,700 BSD
Bank Operations Specialist Banking 62,500 BSD
Bank Process Manager Banking 58,200 BSD
Bank Product Manager Banking 66,100 BSD
Bank Programme Manager Banking 68,500 BSD
Bank Project Manager Banking 76,900 BSD
Bank Propositions Manager Banking 71,200 BSD
Bank Quantitative Analyst Banking 53,300 BSD
Bank Regional Manager Banking 109,700 BSD
Bank Regional Risk Officer Banking 54,600 BSD
Bank Relationship Manager Banking 71,400 BSD
Bank Relationship Officer Banking 34,300 BSD
Bank Teller Banking 19,400 BSD
Banker Banking 35,500 BSD
Banking Business Analyst Banking 54,100 BSD
Banking Business Development Officer Banking 33,200 BSD
Banking Business Planning Executive Banking 76,800 BSD
Banking Product Manager Banking 67,900 BSD
Banking Reference Data Manager Banking 61,400 BSD
Banking Risk Analyst Banking 50,700 BSD
Banking Technical Analyst Banking 29,300 BSD
Bankruptcy Coordinator Banking 35,200 BSD
Bill and Account Collector Banking 17,800 BSD
Budget Analyst Banking 52,300 BSD
Capital Risk Manager Banking 94,200 BSD
Cards Marketing Manager Banking 66,700 BSD
Cash Management Manager Banking 91,700 BSD
Check Processing Manager Banking 69,700 BSD
Commercial Vault Associate Banking 51,800 BSD
Corporate Banker Banking 38,100 BSD
Corporate Dealer Banking 50,600 BSD
Credit Analyst Banking 42,300 BSD
Credit and Collections Manager Banking 68,100 BSD
Credit Card Fraud Investigator Banking 51,900 BSD
Credit Portfolio Manager Banking 95,200 BSD
Credit Risk Analyst Banking 60,200 BSD
Credit Risk Associate Banking 58,500 BSD
Direct Bank Sales Representative Banking 36,700 BSD
Exchange Control Consultant Banking 54,200 BSD
Executive Account Analyst Banking 52,300 BSD
Financial Bank Planning Consultant Banking 69,400 BSD
Financial Banking Analysis Manager Banking 79,000 BSD
Financial Banking Assistant Banking 25,800 BSD
Financial Banking Systems Manager Banking 68,400 BSD
Foreign Exchange Manager Banking 75,500 BSD
Fraud Analyst Banking 54,900 BSD
Fraud Detection Associate Banking 36,700 BSD
Fraud Detection Manager Banking 80,500 BSD
Fraud Detection Supervisor Banking 46,000 BSD
Internal Bank Audit Manager Banking 98,300 BSD
Internal Bank Auditor Banking 48,000 BSD
Internal Private Banker Banking 39,300 BSD
International Banking Manager Banking 105,800 BSD
Investment Banking Analyst Banking 74,700 BSD
Loan Analyst Banking 49,300 BSD
Loan Area Manager Banking 63,200 BSD
Loan Audit Team Leader Banking 58,700 BSD
Loan Branch Manager Banking 56,600 BSD
Loan Business Development Officer Banking 32,200 BSD
Loan Clerk Banking 19,200 BSD
Loan Collection and Recovery Manager Banking 65,800 BSD
Loan Collection Manager Banking 63,500 BSD
Loan Collector Banking 15,700 BSD
Loan Examiner Banking 22,100 BSD
Loan Officer Banking 22,000 BSD
Loan Processing Manager Banking 57,800 BSD
Loan Processor Banking 23,300 BSD
Loan Quality Assurance Auditor Banking 54,700 BSD
Loan Quality Assurance Manager Banking 60,800 BSD
Loan Quality Assurance Representative Banking 36,700 BSD
Loan Review Manager Banking 57,400 BSD
Loan Team Leader Banking 51,300 BSD
Loans Manager Banking 68,500 BSD
Mortgage Advisor Banking 37,300 BSD
Mortgage Collection Manager Banking 63,500 BSD
Mortgage Collector Banking 18,000 BSD
Mortgage Credit Analyst Banking 27,000 BSD
Mortgage Credit Manager Banking 57,900 BSD
Mortgage Development Manager Banking 67,400 BSD
Mortgage Document Reviewer Banking 23,800 BSD
Mortgage Funding Manager Banking 68,800 BSD
Mortgage Operations Manager Banking 91,700 BSD
Mortgage Payment Processing Clerk Banking 21,100 BSD
Mortgage Processing Manager Banking 63,000 BSD
Mortgage Processor Banking 23,600 BSD
Mortgage Quality Assurance Auditor Banking 54,100 BSD
Mortgage Quality Assurance Manager Banking 63,000 BSD
Mortgage Servicing Clerk Banking 19,400 BSD
Mortgage Servicing Manager Banking 57,900 BSD
Mortgage Underwriter Banking 21,100 BSD
Online Banking Manager Banking 88,700 BSD
Payment Processing Clerk Banking 20,300 BSD
Personal Banker Banking 37,100 BSD
Personal Banking Advisor Banking 38,000 BSD
Phone Banker Banking 25,800 BSD
Private Banker Banking 39,100 BSD
Reconciliation and Investigation Specialist Banking 42,400 BSD
Tax Officer Banking 31,800 BSD
Teller Banking 15,700 BSD
Trade Officer Banking 20,100 BSD
Trade Product Manager Banking 62,600 BSD
Trader Banking 26,500 BSD
Treasury Operations Officer Banking 45,700 BSD

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