Average Bank Operational Risk Manager Salary in Montenegro for 2024

In this article, we will look at the average Bank Operational Risk Manager salary for 2024 in Montenegro 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 Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does a Bank Operational Risk Manager Make in Montenegro?

A Bank Operational Risk Manager working in Montenegro will typically earn around 68,400 EUR per year, and this can range from the lowest average salary of about 32,200 EUR to the highest average salary of 107,880 EUR.

Average Annual Salary
68,400 EUR
Average Monthly Salary
5,700 EUR

Lowest Annual Salary
32,200 EUR
Lowest Monthly Salary
2,683 EUR

Highest Annual Salary
107,880 EUR
Highest Monthly Salary
8,990 EUR

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

Bank Operational Risk 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 Operational Risk Manager Salaries in Montenegro

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

Salary ranges

We already know that a Bank Operational Risk Manager can earn between 32,200 EUR and 107,880 EUR on average in Montenegro. 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 Operational Risk Manager in Montenegro is 73,020 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 73,020 EUR, and 50% of the population earn more than 73,020 EUR.

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 Operational Risk Manager salary in Montenegro, 25% of the population are earning less than 48,160 EUR while 75% of the population earn more than 48,160 EUR.

75% of the population earn less than 99,280 EUR, and 25% of the population earn more than 99,280 EUR.

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 Operational Risk Manager Salary by Experience Level in Montenegro

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 operational risk 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 Operational Risk Manager in Montenegro that has less than two years of experience can expect to earn somewhere in the region of 35,000 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Operational Risk Manager salary would increase to 47,720 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Operational Risk Manager, the average salary would be 72,360 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 85,760 EUR.
  • 15 - 20 Years Experience. A Bank Operational Risk Manager with 15 to 20 years of experience can earn an average of 96,340 EUR.
  • 20+ Years Experience. For a Bank Operational Risk Manager with more than 20 years, the expected average salary increases to 104,040 EUR.

Average Salary by Experience Chart

0-2 Years
35,000 EUR
2-5 Years +34%
47,720 EUR
5-10 Years +48%
72,360 EUR
10-15 Years +22%
85,760 EUR
15-20 Years +9%
96,340 EUR
20+ Years +8%
104,040 EUR

Bank Operational Risk Manager Salary by Education Level in Montenegro

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 Operational Risk Manager in Montenegro 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 Operational Risk Manager in Montenegro with a bachelor's degree education can earn an average salary of 43,480 EUR.

  • Master's Degree. A Bank Operational Risk Manager in Montenegro with a master's degree education can earn an average salary of 82,480 EUR.

Average Salary by Education Chart

Bachelor's Degree
43,480 EUR
Master's Degree +93%
82,480 EUR

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 Montenegro is around 13,400 to 40,100 EUR 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 Operational Risk 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 Montenegro, a male bank operational risk manager will earn an average of 70,880 EUR, while a female bank operational risk manager will earn around 64,620 EUR.

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

Average Salary by Gender Chart in Montenegro

Male
70,880 EUR
Female -10%
64,620 EUR

Bank Operational Risk Manager Average Pay Raise in Montenegro

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 Operational Risk Manager in Montenegro is around 10% every 29 months.

The national average pay raise across all professions and industries in Montenegro 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 ÷ 29 ) × 12  = 4%

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

Annual Pay Raise by Industry in Montenegro for 2024

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

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

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Bank Operational Risk Manager Bonus and Incentive Rates in Montenegro

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 Operational Risk Manager is a moderate bonus based job, with 69% of employees reporting at least one bonus in the last 12 months.

31% 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
69%
No Bonus
31%

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 Montenegro earn approximately 32% more than private sector employees in the same role.

Public Sector
35,340 EUR
Private Sector -32%
26,860 EUR

Salaries for Jobs Similar to a Bank Operational Risk Manager

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

Job Title Category Salary
AML Analyst Banking 45,260 EUR
Assistant Bank Branch Manager Banking 38,780 EUR
Assistant Bank Manager Banking 57,360 EUR
ATM Manager Banking 48,560 EUR
ATM Service Technician Banking 12,120 EUR
Bank Accounts Analyst Banking 17,760 EUR
Bank Accounts Collector Banking 10,220 EUR
Bank Accounts Controller Banking 22,660 EUR
Bank Accounts Executive Banking 35,000 EUR
Bank Accounts Manager Banking 40,560 EUR
Bank Auditing Manager Banking 43,260 EUR
Bank Branch Manager Banking 60,480 EUR
Bank Branch Operations Coordinator Banking 27,380 EUR
Bank Clerk Banking 10,080 EUR
Bank Client Service Associate Banking 15,760 EUR
Bank Collector Banking 12,200 EUR
Bank Compliance Specialist Banking 27,480 EUR
Bank Manager Banking 66,440 EUR
Bank Operations Head Banking 67,120 EUR
Bank Operations Officer Banking 27,300 EUR
Bank Operations Specialist Banking 41,820 EUR
Bank Process Manager Banking 38,140 EUR
Bank Product Manager Banking 44,780 EUR
Bank Programme Manager Banking 45,580 EUR
Bank Project Manager Banking 52,180 EUR
Bank Propositions Manager Banking 48,760 EUR
Bank Quantitative Analyst Banking 35,520 EUR
Bank Regional Manager Banking 69,260 EUR
Bank Regional Risk Officer Banking 35,000 EUR
Bank Relationship Manager Banking 48,640 EUR
Bank Relationship Officer Banking 24,840 EUR
Bank Teller Banking 10,980 EUR
Banker Banking 23,140 EUR
Banking Business Analyst Banking 36,160 EUR
Banking Business Development Officer Banking 20,460 EUR
Banking Business Planning Executive Banking 50,020 EUR
Banking Product Manager Banking 46,720 EUR
Banking Reference Data Manager Banking 39,560 EUR
Banking Risk Analyst Banking 34,160 EUR
Banking Technical Analyst Banking 20,120 EUR
Bankruptcy Coordinator Banking 23,260 EUR
Bill and Account Collector Banking 12,620 EUR
Budget Analyst Banking 36,940 EUR
Capital Risk Manager Banking 61,760 EUR
Cards Marketing Manager Banking 41,820 EUR
Cash Management Manager Banking 63,480 EUR
Check Processing Manager Banking 42,960 EUR
Commercial Vault Associate Banking 34,980 EUR
Corporate Banker Banking 27,300 EUR
Corporate Dealer Banking 35,420 EUR
Credit Analyst Banking 27,620 EUR
Credit and Collections Manager Banking 44,780 EUR
Credit Card Fraud Investigator Banking 38,180 EUR
Credit Portfolio Manager Banking 61,680 EUR
Credit Risk Analyst Banking 36,020 EUR
Credit Risk Associate Banking 38,060 EUR
Direct Bank Sales Representative Banking 25,160 EUR
Exchange Control Consultant Banking 36,020 EUR
Executive Account Analyst Banking 33,980 EUR
Financial Bank Planning Consultant Banking 45,620 EUR
Financial Banking Analysis Manager Banking 54,140 EUR
Financial Banking Assistant Banking 17,540 EUR
Financial Banking Systems Manager Banking 50,580 EUR
Foreign Exchange Manager Banking 48,760 EUR
Fraud Analyst Banking 36,700 EUR
Fraud Detection Associate Banking 27,380 EUR
Fraud Detection Manager Banking 54,280 EUR
Fraud Detection Supervisor Banking 27,480 EUR
Internal Bank Audit Manager Banking 67,020 EUR
Internal Bank Auditor Banking 35,500 EUR
Internal Private Banker Banking 25,940 EUR
International Banking Manager Banking 73,760 EUR
Investment Banking Analyst Banking 53,380 EUR
Loan Analyst Banking 35,520 EUR
Loan Area Manager Banking 42,320 EUR
Loan Audit Team Leader Banking 38,680 EUR
Loan Branch Manager Banking 38,620 EUR
Loan Business Development Officer Banking 22,420 EUR
Loan Clerk Banking 13,060 EUR
Loan Collection and Recovery Manager Banking 41,180 EUR
Loan Collection Manager Banking 43,080 EUR
Loan Collector Banking 13,660 EUR
Loan Examiner Banking 15,880 EUR
Loan Officer Banking 11,880 EUR
Loan Processing Manager Banking 38,680 EUR
Loan Processor Banking 17,020 EUR
Loan Quality Assurance Auditor Banking 34,120 EUR
Loan Quality Assurance Manager Banking 41,180 EUR
Loan Quality Assurance Representative Banking 27,040 EUR
Loan Review Manager Banking 40,040 EUR
Loan Team Leader Banking 33,980 EUR
Loans Manager Banking 45,000 EUR
Mortgage Advisor Banking 23,360 EUR
Mortgage Collection Manager Banking 38,620 EUR
Mortgage Collector Banking 9,940 EUR
Mortgage Credit Analyst Banking 17,860 EUR
Mortgage Credit Manager Banking 40,420 EUR
Mortgage Development Manager Banking 48,200 EUR
Mortgage Document Reviewer Banking 17,020 EUR
Mortgage Funding Manager Banking 48,200 EUR
Mortgage Operations Manager Banking 64,720 EUR
Mortgage Payment Processing Clerk Banking 14,620 EUR
Mortgage Processing Manager Banking 40,420 EUR
Mortgage Processor Banking 16,880 EUR
Mortgage Quality Assurance Auditor Banking 35,000 EUR
Mortgage Quality Assurance Manager Banking 39,800 EUR
Mortgage Servicing Clerk Banking 13,660 EUR
Mortgage Servicing Manager Banking 39,800 EUR
Mortgage Underwriter Banking 14,540 EUR
Online Banking Manager Banking 59,940 EUR
Payment Processing Clerk Banking 12,120 EUR
Personal Banker Banking 23,260 EUR
Personal Banking Advisor Banking 28,820 EUR
Phone Banker Banking 16,140 EUR
Private Banker Banking 23,080 EUR
Reconciliation and Investigation Specialist Banking 30,800 EUR
Tax Officer Banking 19,060 EUR
Teller Banking 12,180 EUR
Trade Officer Banking 12,580 EUR
Trade Product Manager Banking 43,220 EUR
Trader Banking 16,720 EUR
Treasury Operations Officer Banking 29,160 EUR

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Bank Operational Risk Manager Salary in Montenegro for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-bank-operational-risk-manager-salary-in-montenegro/.

  • "Average Bank Operational Risk Manager Salary in Montenegro for 2024". World Salaries, https://worldsalaries.com/average-bank-operational-risk-manager-salary-in-montenegro/. Accessed 28 March, 2024

  • Average Bank Operational Risk Manager Salary in Montenegro for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-bank-operational-risk-manager-salary-in-montenegro/.