Average Bank Compliance Specialist Salary in Mauritius for 2024

In this article, we will look at the average Bank Compliance Specialist salary for 2024 in Mauritius 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 Mauritian rupee. To keep things simple, we are using the MUR currency code instead of the currency symbol โ‚จ.

How Much Does a Bank Compliance Specialist Make in Mauritius?

A Bank Compliance Specialist working in Mauritius will typically earn around 548,800 MUR per year, and this can range from the lowest average salary of about 275,200 MUR to the highest average salary of 847,000 MUR.

Average Annual Salary
548,800 MUR
Average Monthly Salary
45,733 MUR

Lowest Annual Salary
275,200 MUR
Lowest Monthly Salary
22,933 MUR

Highest Annual Salary
847,000 MUR
Highest Monthly Salary
70,583 MUR

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

Bank Compliance Specialist 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 Compliance Specialist Salaries in Mauritius

So we've looked at the average salaries a Bank Compliance Specialist will earn in Mauritius. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Bank Compliance Specialist can earn between 275,200 MUR and 847,000 MUR on average in Mauritius. 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 Compliance Specialist in Mauritius is 548,800 MUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 548,800 MUR, and 50% of the population earn more than 548,800 MUR.

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 Compliance Specialist salary in Mauritius, 25% of the population are earning less than 369,900 MUR while 75% of the population earn more than 369,900 MUR.

75% of the population earn less than 699,700 MUR, and 25% of the population earn more than 699,700 MUR.

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 Compliance Specialist Salary by Experience Level in Mauritius

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 compliance specialist 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 Compliance Specialist in Mauritius that has less than two years of experience can expect to earn somewhere in the region of 327,300 MUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Compliance Specialist salary would increase to 433,400 MUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Compliance Specialist, the average salary would be 581,000 MUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 695,200 MUR.
  • 15 - 20 Years Experience. A Bank Compliance Specialist with 15 to 20 years of experience can earn an average of 747,400 MUR.
  • 20+ Years Experience. For a Bank Compliance Specialist with more than 20 years, the expected average salary increases to 802,400 MUR.

Average Salary by Experience Chart

0-2 Years
327,300 MUR
2-5 Years +32%
433,400 MUR
5-10 Years +34%
581,000 MUR
10-15 Years +19%
695,200 MUR
15-20 Years +8%
747,400 MUR
20+ Years +7%
802,400 MUR

Bank Compliance Specialist Salary by Education Level in Mauritius

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 Compliance Specialist in Mauritius 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 Compliance Specialist in Mauritius with a bachelor's degree education can earn an average salary of 467,700 MUR.

  • Master's Degree. A Bank Compliance Specialist in Mauritius with a master's degree education can earn an average salary of 739,500 MUR.

Average Salary by Education Chart

Bachelor's Degree
467,700 MUR
Master's Degree +58%
739,500 MUR

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 Mauritius is around 232,000 to 696,000 MUR 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 Compliance Specialist 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 Mauritius, a male bank compliance specialist will earn an average of 559,000 MUR, while a female bank compliance specialist will earn around 531,700 MUR.

This means that a male bank compliance specialist earns approximately 5% more than a female bank compliance specialist for performing the same job.

Average Salary by Gender Chart in Mauritius

Male
559,000 MUR
Female -5%
531,700 MUR

Bank Compliance Specialist Average Pay Raise in Mauritius

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 Compliance Specialist in Mauritius is around 8% every 28 months.

The national average pay raise across all professions and industries in Mauritius 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 = ( 8 ÷ 28 ) × 12  = 3%

What this means is that a Bank Compliance Specialist in Mauritius can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Mauritius for 2024

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

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 Compliance Specialist Bonus and Incentive Rates in Mauritius

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 Compliance Specialist 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 6%.

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

Public Sector
590,200 MUR
Private Sector -18%
502,200 MUR

Salaries for Jobs Similar to a Bank Compliance Specialist

In the table below, we have salary information for jobs that are similar to a Bank Compliance Specialist in Mauritius.

Job Title Category Salary
AML Analyst Banking 879,700 MUR
Assistant Bank Branch Manager Banking 721,600 MUR
Assistant Bank Manager Banking 931,900 MUR
ATM Manager Banking 817,800 MUR
ATM Service Technician Banking 232,400 MUR
Bank Accounts Analyst Banking 322,600 MUR
Bank Accounts Collector Banking 195,200 MUR
Bank Accounts Controller Banking 436,200 MUR
Bank Accounts Executive Banking 612,500 MUR
Bank Accounts Manager Banking 735,500 MUR
Bank Auditing Manager Banking 706,200 MUR
Bank Branch Manager Banking 1,047,900 MUR
Bank Branch Operations Coordinator Banking 437,300 MUR
Bank Clerk Banking 191,600 MUR
Bank Client Service Associate Banking 265,000 MUR
Bank Collector Banking 197,600 MUR
Bank Manager Banking 1,181,200 MUR
Bank Operational Risk Manager Banking 1,174,600 MUR
Bank Operations Head Banking 1,235,600 MUR
Bank Operations Officer Banking 487,600 MUR
Bank Operations Specialist Banking 765,100 MUR
Bank Process Manager Banking 653,200 MUR
Bank Product Manager Banking 737,000 MUR
Bank Programme Manager Banking 788,000 MUR
Bank Project Manager Banking 925,900 MUR
Bank Propositions Manager Banking 810,500 MUR
Bank Quantitative Analyst Banking 578,500 MUR
Bank Regional Manager Banking 1,273,300 MUR
Bank Regional Risk Officer Banking 603,400 MUR
Bank Relationship Manager Banking 874,900 MUR
Bank Relationship Officer Banking 394,300 MUR
Bank Teller Banking 214,000 MUR
Banker Banking 399,900 MUR
Banking Business Analyst Banking 625,000 MUR
Banking Business Development Officer Banking 383,300 MUR
Banking Business Planning Executive Banking 899,900 MUR
Banking Product Manager Banking 768,900 MUR
Banking Reference Data Manager Banking 667,400 MUR
Banking Risk Analyst Banking 583,000 MUR
Banking Technical Analyst Banking 327,300 MUR
Bankruptcy Coordinator Banking 428,400 MUR
Bill and Account Collector Banking 209,700 MUR
Budget Analyst Banking 615,300 MUR
Capital Risk Manager Banking 1,138,500 MUR
Cards Marketing Manager Banking 761,400 MUR
Cash Management Manager Banking 1,106,000 MUR
Check Processing Manager Banking 767,400 MUR
Commercial Vault Associate Banking 618,800 MUR
Corporate Banker Banking 454,900 MUR
Corporate Dealer Banking 659,400 MUR
Credit Analyst Banking 464,900 MUR
Credit and Collections Manager Banking 838,100 MUR
Credit Card Fraud Investigator Banking 667,400 MUR
Credit Portfolio Manager Banking 1,172,900 MUR
Credit Risk Analyst Banking 707,600 MUR
Credit Risk Associate Banking 671,000 MUR
Direct Bank Sales Representative Banking 431,100 MUR
Exchange Control Consultant Banking 628,000 MUR
Executive Account Analyst Banking 588,500 MUR
Financial Bank Planning Consultant Banking 767,500 MUR
Financial Banking Analysis Manager Banking 866,900 MUR
Financial Banking Assistant Banking 294,700 MUR
Financial Banking Systems Manager Banking 864,700 MUR
Foreign Exchange Manager Banking 869,400 MUR
Fraud Analyst Banking 625,000 MUR
Fraud Detection Associate Banking 448,500 MUR
Fraud Detection Manager Banking 972,200 MUR
Fraud Detection Supervisor Banking 559,000 MUR
Internal Bank Audit Manager Banking 1,138,500 MUR
Internal Bank Auditor Banking 566,900 MUR
Internal Private Banker Banking 454,300 MUR
International Banking Manager Banking 1,249,900 MUR
Investment Banking Analyst Banking 874,500 MUR
Loan Analyst Banking 605,700 MUR
Loan Area Manager Banking 718,000 MUR
Loan Audit Team Leader Banking 672,600 MUR
Loan Branch Manager Banking 691,200 MUR
Loan Business Development Officer Banking 385,300 MUR
Loan Clerk Banking 210,500 MUR
Loan Collection and Recovery Manager Banking 772,700 MUR
Loan Collection Manager Banking 744,700 MUR
Loan Collector Banking 197,600 MUR
Loan Examiner Banking 275,200 MUR
Loan Officer Banking 228,500 MUR
Loan Processing Manager Banking 632,400 MUR
Loan Processor Banking 273,000 MUR
Loan Quality Assurance Auditor Banking 641,900 MUR
Loan Quality Assurance Manager Banking 670,600 MUR
Loan Quality Assurance Representative Banking 464,400 MUR
Loan Review Manager Banking 724,000 MUR
Loan Team Leader Banking 607,400 MUR
Loans Manager Banking 810,500 MUR
Mortgage Advisor Banking 433,400 MUR
Mortgage Collection Manager Banking 688,900 MUR
Mortgage Collector Banking 197,600 MUR
Mortgage Credit Analyst Banking 335,800 MUR
Mortgage Credit Manager Banking 663,200 MUR
Mortgage Development Manager Banking 786,600 MUR
Mortgage Document Reviewer Banking 277,400 MUR
Mortgage Funding Manager Banking 778,200 MUR
Mortgage Operations Manager Banking 1,023,000 MUR
Mortgage Payment Processing Clerk Banking 233,600 MUR
Mortgage Processing Manager Banking 714,600 MUR
Mortgage Processor Banking 288,700 MUR
Mortgage Quality Assurance Auditor Banking 627,900 MUR
Mortgage Quality Assurance Manager Banking 675,200 MUR
Mortgage Servicing Clerk Banking 209,500 MUR
Mortgage Servicing Manager Banking 695,400 MUR
Mortgage Underwriter Banking 263,200 MUR
Online Banking Manager Banking 1,099,200 MUR
Payment Processing Clerk Banking 209,700 MUR
Personal Banker Banking 460,500 MUR
Personal Banking Advisor Banking 447,300 MUR
Phone Banker Banking 301,800 MUR
Private Banker Banking 444,300 MUR
Reconciliation and Investigation Specialist Banking 507,300 MUR
Tax Officer Banking 363,000 MUR
Teller Banking 210,500 MUR
Trade Officer Banking 249,600 MUR
Trade Product Manager Banking 744,600 MUR
Trader Banking 294,700 MUR
Treasury Operations Officer Banking 539,800 MUR

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