Average Bank Branch Manager Salary in Somalia for 2024

In this article, we will look at the average Bank Branch Manager salary for 2024 in Somalia 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 Somali shilling. To keep things simple, we are using the SOS currency code instead of the currency symbol Sh.

How Much Does a Bank Branch Manager Make in Somalia?

A Bank Branch Manager working in Somalia will typically earn around 5,555,200 SOS per year, and this can range from the lowest average salary of about 2,662,900 SOS to the highest average salary of 8,724,700 SOS.

Average Annual Salary
5,555,200 SOS
Average Monthly Salary
462,933 SOS

Lowest Annual Salary
2,662,900 SOS
Lowest Monthly Salary
221,908 SOS

Highest Annual Salary
8,724,700 SOS
Highest Monthly Salary
727,058 SOS

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

Bank Branch 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 Bank Branch Manager Salaries in Somalia

So we've looked at the average salaries a Bank Branch Manager will earn in Somalia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Bank Branch Manager can earn between 2,662,900 SOS and 8,724,700 SOS on average in Somalia. 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 a Bank Branch Manager in Somalia is 5,771,600 SOS. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 5,771,600 SOS, and 50% of the population earn more than 5,771,600 SOS.

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 Bank Branch Manager salary in Somalia, 25% of the population are earning less than 3,805,100 SOS while 75% of the population earn more than 3,805,100 SOS.

75% of the population earn less than 7,537,100 SOS, and 25% of the population earn more than 7,537,100 SOS.

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.

Bank Branch Manager Salary by Experience Level in Somalia

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 bank branch 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. A Bank Branch Manager in Somalia that has less than two years of experience can expect to earn somewhere in the region of 3,118,900 SOS.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Branch Manager salary would increase to 4,429,300 SOS.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Branch Manager, the average salary would be 5,818,100 SOS.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 7,150,200 SOS.
  • 15 - 20 Years Experience. A Bank Branch Manager with 15 to 20 years of experience can earn an average of 7,596,200 SOS.
  • 20+ Years Experience. For a Bank Branch Manager with more than 20 years, the expected average salary increases to 8,329,200 SOS.

Average Salary by Experience Chart

0-2 Years
3,118,900 SOS
2-5 Years +42%
4,429,300 SOS
5-10 Years +31%
5,818,100 SOS
10-15 Years +23%
7,150,200 SOS
15-20 Years +6%
7,596,200 SOS
20+ Years +10%
8,329,200 SOS

Bank Branch Manager Salary by Education Level in Somalia

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 a Bank Branch Manager in Somalia 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. A Bank Branch Manager in Somalia with a bachelor's degree education can earn an average salary of 4,908,200 SOS.

  • Master's Degree. A Bank Branch Manager in Somalia with a master's degree education can earn an average salary of 7,020,500 SOS.

Average Salary by Education Chart

Bachelor's Degree
4,908,200 SOS
Master's Degree +43%
7,020,500 SOS

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 Somalia is around 1,300,000 to 3,890,000 SOS 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.

Bank Branch 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 Somalia, a male bank branch manager will earn an average of 5,926,600 SOS, while a female bank branch manager will earn around 5,388,100 SOS.

This means that a male bank branch manager earns approximately 10% more than a female bank branch manager for performing the same job.

Average Salary by Gender Chart in Somalia

Male
5,926,600 SOS
Female -10%
5,388,100 SOS

Bank Branch Manager Average Pay Raise in Somalia

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 a Bank Branch Manager in Somalia is around 10% every 28 months.

The national average pay raise across all professions and industries in Somalia 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 a Bank Branch Manager in Somalia can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Somalia for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Bank Branch Manager Bonus and Incentive Rates in Somalia

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.

A Bank Branch Manager is a moderate bonus based job, with 66% of employees reporting at least one bonus in the last 12 months.

34% 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 5% to 9%.

Received Bonus
66%
No Bonus
34%

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

Public Sector
3,299,800 SOS
Private Sector -18%
2,794,600 SOS

Salaries for Jobs Similar to a Bank Branch Manager

In the table below, we have salary information for jobs that are similar to a Bank Branch Manager in Somalia.

Job Title Category Salary
AML Analyst Banking 4,762,300 SOS
Assistant Bank Branch Manager Banking 4,067,600 SOS
Assistant Bank Manager Banking 5,363,700 SOS
ATM Manager Banking 4,537,100 SOS
ATM Service Technician Banking 1,249,900 SOS
Bank Accounts Analyst Banking 1,800,200 SOS
Bank Accounts Collector Banking 1,110,500 SOS
Bank Accounts Controller Banking 2,314,800 SOS
Bank Accounts Executive Banking 3,432,600 SOS
Bank Accounts Manager Banking 3,984,100 SOS
Bank Auditing Manager Banking 4,032,100 SOS
Bank Branch Operations Coordinator Banking 2,447,200 SOS
Bank Clerk Banking 1,065,400 SOS
Bank Client Service Associate Banking 1,500,800 SOS
Bank Collector Banking 1,110,500 SOS
Bank Compliance Specialist Banking 2,914,600 SOS
Bank Manager Banking 6,480,800 SOS
Bank Operational Risk Manager Banking 6,433,500 SOS
Bank Operations Head Banking 6,624,300 SOS
Bank Operations Officer Banking 2,593,900 SOS
Bank Operations Specialist Banking 4,056,200 SOS
Bank Process Manager Banking 3,659,400 SOS
Bank Product Manager Banking 4,211,600 SOS
Bank Programme Manager Banking 4,439,200 SOS
Bank Project Manager Banking 5,232,400 SOS
Bank Propositions Manager Banking 4,681,400 SOS
Bank Quantitative Analyst Banking 3,277,900 SOS
Bank Regional Manager Banking 6,754,900 SOS
Bank Regional Risk Officer Banking 3,421,600 SOS
Bank Relationship Manager Banking 4,956,800 SOS
Bank Relationship Officer Banking 2,221,600 SOS
Bank Teller Banking 1,157,300 SOS
Banker Banking 2,314,800 SOS
Banking Business Analyst Banking 3,622,400 SOS
Banking Business Development Officer Banking 2,124,400 SOS
Banking Business Planning Executive Banking 4,860,800 SOS
Banking Product Manager Banking 4,211,600 SOS
Banking Reference Data Manager Banking 3,706,100 SOS
Banking Risk Analyst Banking 3,359,900 SOS
Banking Technical Analyst Banking 1,800,200 SOS
Bankruptcy Coordinator Banking 2,411,500 SOS
Bill and Account Collector Banking 1,198,300 SOS
Budget Analyst Banking 3,359,900 SOS
Capital Risk Manager Banking 6,433,500 SOS
Cards Marketing Manager Banking 4,260,400 SOS
Cash Management Manager Banking 5,952,700 SOS
Check Processing Manager Banking 4,391,800 SOS
Commercial Vault Associate Banking 3,312,100 SOS
Corporate Banker Banking 2,447,200 SOS
Corporate Dealer Banking 3,514,400 SOS
Credit Analyst Banking 2,641,300 SOS
Credit and Collections Manager Banking 4,585,100 SOS
Credit Card Fraud Investigator Banking 3,514,400 SOS
Credit Portfolio Manager Banking 6,335,800 SOS
Credit Risk Analyst Banking 3,792,300 SOS
Credit Risk Associate Banking 3,622,400 SOS
Direct Bank Sales Representative Banking 2,411,500 SOS
Exchange Control Consultant Banking 3,586,300 SOS
Executive Account Analyst Banking 3,335,900 SOS
Financial Bank Planning Consultant Banking 4,355,800 SOS
Financial Banking Analysis Manager Banking 5,003,800 SOS
Financial Banking Assistant Banking 1,621,400 SOS
Financial Banking Systems Manager Banking 4,633,100 SOS
Foreign Exchange Manager Banking 4,956,800 SOS
Fraud Analyst Banking 3,610,800 SOS
Fraud Detection Associate Banking 2,447,200 SOS
Fraud Detection Manager Banking 5,280,300 SOS
Fraud Detection Supervisor Banking 2,964,800 SOS
Internal Bank Audit Manager Banking 6,179,700 SOS
Internal Bank Auditor Banking 3,288,400 SOS
Internal Private Banker Banking 2,447,200 SOS
International Banking Manager Banking 6,947,800 SOS
Investment Banking Analyst Banking 4,908,200 SOS
Loan Analyst Banking 3,359,900 SOS
Loan Area Manager Banking 4,116,600 SOS
Loan Audit Team Leader Banking 3,850,500 SOS
Loan Branch Manager Banking 3,817,500 SOS
Loan Business Development Officer Banking 2,065,400 SOS
Loan Clerk Banking 1,198,300 SOS
Loan Collection and Recovery Manager Banking 4,067,600 SOS
Loan Collection Manager Banking 4,067,600 SOS
Loan Collector Banking 1,110,500 SOS
Loan Examiner Banking 1,476,700 SOS
Loan Officer Banking 1,296,900 SOS
Loan Processing Manager Banking 3,659,400 SOS
Loan Processor Banking 1,524,300 SOS
Loan Quality Assurance Auditor Banking 3,432,600 SOS
Loan Quality Assurance Manager Banking 3,817,500 SOS
Loan Quality Assurance Representative Banking 2,543,000 SOS
Loan Review Manager Banking 3,840,400 SOS
Loan Team Leader Banking 3,432,600 SOS
Loans Manager Banking 4,537,100 SOS
Mortgage Advisor Banking 2,362,300 SOS
Mortgage Collection Manager Banking 3,984,100 SOS
Mortgage Collector Banking 1,110,500 SOS
Mortgage Credit Analyst Banking 1,800,200 SOS
Mortgage Credit Manager Banking 3,792,300 SOS
Mortgage Development Manager Banking 4,355,800 SOS
Mortgage Document Reviewer Banking 1,476,700 SOS
Mortgage Funding Manager Banking 4,391,800 SOS
Mortgage Operations Manager Banking 5,880,300 SOS
Mortgage Payment Processing Clerk Banking 1,296,900 SOS
Mortgage Processing Manager Banking 3,889,500 SOS
Mortgage Processor Banking 1,524,300 SOS
Mortgage Quality Assurance Auditor Banking 3,359,900 SOS
Mortgage Quality Assurance Manager Banking 3,840,400 SOS
Mortgage Servicing Clerk Banking 1,180,700 SOS
Mortgage Servicing Manager Banking 3,745,100 SOS
Mortgage Underwriter Banking 1,440,700 SOS
Online Banking Manager Banking 5,902,400 SOS
Payment Processing Clerk Banking 1,198,300 SOS
Personal Banker Banking 2,447,200 SOS
Personal Banking Advisor Banking 2,495,600 SOS
Phone Banker Banking 1,632,100 SOS
Private Banker Banking 2,447,200 SOS
Reconciliation and Investigation Specialist Banking 2,773,700 SOS
Tax Officer Banking 2,038,500 SOS
Teller Banking 1,157,300 SOS
Trade Officer Banking 1,391,600 SOS
Trade Product Manager Banking 3,984,100 SOS
Trader Banking 1,668,900 SOS
Treasury Operations Officer Banking 3,013,500 SOS

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