Average Assistant Bank Manager Salary in Mongolia for 2024

In this article, we will look at the average Assistant Bank Manager salary for 2024 in Mongolia 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 Mongolian tögrög. To keep things simple, we are using the MNT currency code instead of the currency symbol ₮.

How Much Does an Assistant Bank Manager Make in Mongolia?

An Assistant Bank Manager working in Mongolia will typically earn around 40,921,600 MNT per year, and this can range from the lowest average salary of about 20,038,100 MNT to the highest average salary of 63,840,300 MNT.

Average Annual Salary
40,921,600 MNT
Average Monthly Salary
3,410,133 MNT

Lowest Annual Salary
20,038,100 MNT
Lowest Monthly Salary
1,669,841 MNT

Highest Annual Salary
63,840,300 MNT
Highest Monthly Salary
5,320,025 MNT

These are average salaries for an Assistant Bank Manager in Mongolia 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 Mongolia

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

Salary ranges

We already know that an Assistant Bank Manager can earn between 20,038,100 MNT and 63,840,300 MNT on average in Mongolia. 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 Mongolia is 41,761,800 MNT. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 41,761,800 MNT, and 50% of the population earn more than 41,761,800 MNT.

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 Mongolia, 25% of the population are earning less than 27,841,200 MNT while 75% of the population earn more than 27,841,200 MNT.

75% of the population earn less than 53,879,800 MNT, and 25% of the population earn more than 53,879,800 MNT.

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 Mongolia

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 Mongolia that has less than two years of experience can expect to earn somewhere in the region of 23,759,100 MNT.
  • 2 - 5 Years Experience. With two to five years of experience the average Assistant Bank Manager salary would increase to 30,600,900 MNT.
  • 5 - 10 Years Experience. From five to ten years of experience as an Assistant Bank Manager, the average salary would be 42,239,100 MNT.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 52,201,800 MNT.
  • 15 - 20 Years Experience. An Assistant Bank Manager with 15 to 20 years of experience can earn an average of 56,041,700 MNT.
  • 20+ Years Experience. For an Assistant Bank Manager with more than 20 years, the expected average salary increases to 59,758,700 MNT.

Average Salary by Experience Chart

0-2 Years
23,759,100 MNT
2-5 Years +29%
30,600,900 MNT
5-10 Years +38%
42,239,100 MNT
10-15 Years +24%
52,201,800 MNT
15-20 Years +7%
56,041,700 MNT
20+ Years +7%
59,758,700 MNT

Assistant Bank Manager Salary by Education Level in Mongolia

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 Mongolia 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 Mongolia with a bachelor's degree education can earn an average salary of 29,641,500 MNT.

  • Master's Degree. An Assistant Bank Manager in Mongolia with a master's degree education can earn an average salary of 47,640,400 MNT.

Average Salary by Education Chart

Bachelor's Degree
29,641,500 MNT
Master's Degree +60%
47,640,400 MNT

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 Mongolia is around 9,750,000 to 29,300,000 MNT 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 Mongolia, a male assistant bank manager will earn an average of 42,119,100 MNT, while a female assistant bank manager will earn around 39,481,900 MNT.

This means that a male assistant bank manager earns approximately 7% more than a female assistant bank manager for performing the same job.

Average Salary by Gender Chart in Mongolia

Male
42,119,100 MNT
Female -7%
39,481,900 MNT

Assistant Bank Manager Average Pay Raise in Mongolia

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 Mongolia is around 9% every 29 months.

The national average pay raise across all professions and industries in Mongolia is around 4% every 29 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 = ( 9 ÷ 29 ) × 12  = 4%

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

Annual Pay Raise by Industry in Mongolia for 2024

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

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%

Assistant Bank Manager Bonus and Incentive Rates in Mongolia

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 40% of employees reporting at least one bonus in the last 12 months.

60% 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
40%
No Bonus
60%

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 Mongolia earn approximately 18% more than private sector employees in the same role.

Public Sector
25,561,400 MNT
Private Sector -18%
21,719,900 MNT

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 Mongolia.

Job Title Category Salary
AML Analyst Banking 34,799,800 MNT
Assistant Bank Branch Manager Banking 29,761,800 MNT
ATM Manager Banking 36,121,000 MNT
ATM Service Technician Banking 9,396,300 MNT
Bank Accounts Analyst Banking 13,079,500 MNT
Bank Accounts Collector Banking 8,626,600 MNT
Bank Accounts Controller Banking 17,159,700 MNT
Bank Accounts Executive Banking 26,520,600 MNT
Bank Accounts Manager Banking 29,041,200 MNT
Bank Auditing Manager Banking 31,559,900 MNT
Bank Branch Manager Banking 42,959,900 MNT
Bank Branch Operations Coordinator Banking 18,958,500 MNT
Bank Clerk Banking 8,242,900 MNT
Bank Client Service Associate Banking 11,941,500 MNT
Bank Collector Banking 8,833,600 MNT
Bank Compliance Specialist Banking 21,361,700 MNT
Bank Manager Banking 49,919,200 MNT
Bank Operational Risk Manager Banking 47,401,700 MNT
Bank Operations Head Banking 51,719,500 MNT
Bank Operations Officer Banking 19,678,200 MNT
Bank Operations Specialist Banking 29,519,900 MNT
Bank Process Manager Banking 28,078,900 MNT
Bank Product Manager Banking 31,081,900 MNT
Bank Programme Manager Banking 32,519,500 MNT
Bank Project Manager Banking 40,679,700 MNT
Bank Propositions Manager Banking 34,919,600 MNT
Bank Quantitative Analyst Banking 26,040,800 MNT
Bank Regional Manager Banking 50,281,100 MNT
Bank Regional Risk Officer Banking 26,158,200 MNT
Bank Relationship Manager Banking 38,521,100 MNT
Bank Relationship Officer Banking 16,561,800 MNT
Bank Teller Banking 9,082,500 MNT
Banker Banking 18,359,600 MNT
Banking Business Analyst Banking 26,158,200 MNT
Banking Business Development Officer Banking 16,079,800 MNT
Banking Business Planning Executive Banking 36,121,000 MNT
Banking Product Manager Banking 31,081,900 MNT
Banking Reference Data Manager Banking 29,399,100 MNT
Banking Risk Analyst Banking 25,440,400 MNT
Banking Technical Analyst Banking 13,079,500 MNT
Bankruptcy Coordinator Banking 18,239,400 MNT
Bill and Account Collector Banking 9,493,400 MNT
Budget Analyst Banking 25,561,400 MNT
Capital Risk Manager Banking 50,039,800 MNT
Cards Marketing Manager Banking 30,841,400 MNT
Cash Management Manager Banking 46,680,900 MNT
Check Processing Manager Banking 32,639,300 MNT
Commercial Vault Associate Banking 24,000,900 MNT
Corporate Banker Banking 19,321,100 MNT
Corporate Dealer Banking 26,880,900 MNT
Credit Analyst Banking 20,159,800 MNT
Credit and Collections Manager Banking 33,001,000 MNT
Credit Card Fraud Investigator Banking 26,399,200 MNT
Credit Portfolio Manager Banking 48,119,900 MNT
Credit Risk Analyst Banking 29,161,000 MNT
Credit Risk Associate Banking 26,280,300 MNT
Direct Bank Sales Representative Banking 18,958,500 MNT
Exchange Control Consultant Banking 27,118,300 MNT
Executive Account Analyst Banking 24,478,500 MNT
Financial Bank Planning Consultant Banking 33,240,500 MNT
Financial Banking Analysis Manager Banking 38,760,100 MNT
Financial Banking Assistant Banking 11,856,900 MNT
Financial Banking Systems Manager Banking 35,398,900 MNT
Foreign Exchange Manager Banking 35,758,400 MNT
Fraud Analyst Banking 28,560,900 MNT
Fraud Detection Associate Banking 18,479,600 MNT
Fraud Detection Manager Banking 41,878,100 MNT
Fraud Detection Supervisor Banking 23,280,700 MNT
Internal Bank Audit Manager Banking 47,999,400 MNT
Internal Bank Auditor Banking 24,119,700 MNT
Internal Private Banker Banking 19,321,100 MNT
International Banking Manager Banking 53,158,700 MNT
Investment Banking Analyst Banking 38,521,100 MNT
Loan Analyst Banking 26,520,600 MNT
Loan Area Manager Banking 31,201,500 MNT
Loan Audit Team Leader Banking 29,278,200 MNT
Loan Branch Manager Banking 30,240,200 MNT
Loan Business Development Officer Banking 15,360,400 MNT
Loan Clerk Banking 9,396,300 MNT
Loan Collection and Recovery Manager Banking 31,320,700 MNT
Loan Collection Manager Banking 30,001,600 MNT
Loan Collector Banking 8,075,200 MNT
Loan Examiner Banking 11,245,700 MNT
Loan Officer Banking 9,778,900 MNT
Loan Processing Manager Banking 28,919,800 MNT
Loan Processor Banking 11,434,900 MNT
Loan Quality Assurance Auditor Banking 26,880,900 MNT
Loan Quality Assurance Manager Banking 28,200,200 MNT
Loan Quality Assurance Representative Banking 19,678,200 MNT
Loan Review Manager Banking 27,960,400 MNT
Loan Team Leader Banking 26,040,800 MNT
Loans Manager Banking 32,758,100 MNT
Mortgage Advisor Banking 18,720,200 MNT
Mortgage Collection Manager Banking 29,881,100 MNT
Mortgage Collector Banking 8,689,800 MNT
Mortgage Credit Analyst Banking 13,319,300 MNT
Mortgage Credit Manager Banking 29,278,200 MNT
Mortgage Development Manager Banking 31,678,800 MNT
Mortgage Document Reviewer Banking 11,267,200 MNT
Mortgage Funding Manager Banking 34,919,600 MNT
Mortgage Operations Manager Banking 42,839,200 MNT
Mortgage Payment Processing Clerk Banking 9,874,200 MNT
Mortgage Processing Manager Banking 29,161,000 MNT
Mortgage Processor Banking 11,963,400 MNT
Mortgage Quality Assurance Auditor Banking 26,639,300 MNT
Mortgage Quality Assurance Manager Banking 28,801,400 MNT
Mortgage Servicing Clerk Banking 8,737,100 MNT
Mortgage Servicing Manager Banking 28,919,800 MNT
Mortgage Underwriter Banking 11,245,700 MNT
Online Banking Manager Banking 42,601,100 MNT
Payment Processing Clerk Banking 9,082,500 MNT
Personal Banker Banking 19,078,500 MNT
Personal Banking Advisor Banking 19,678,200 MNT
Phone Banker Banking 12,600,600 MNT
Private Banker Banking 19,321,100 MNT
Reconciliation and Investigation Specialist Banking 21,719,900 MNT
Tax Officer Banking 14,760,200 MNT
Teller Banking 8,483,700 MNT
Trade Officer Banking 10,572,800 MNT
Trade Product Manager Banking 31,559,900 MNT
Trader Banking 12,481,200 MNT
Treasury Operations Officer Banking 22,681,800 MNT

Salary Comparison by City

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

City Average Salary
Ulan Bator 44,519,300 MNT

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