Average Bank Product Manager Salary in Georgia for 2024

In this article, we will look at the average Bank Product Manager salary for 2024 in Georgia 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 lari. To keep things simple, we are using the GEL currency code instead of the currency symbol โ‚พ.

How Much Does a Bank Product Manager Make in Georgia?

A Bank Product Manager working in Georgia will typically earn around 104,060 GEL per year, and this can range from the lowest average salary of about 54,460 GEL to the highest average salary of 161,300 GEL.

Average Annual Salary
104,060 GEL
Average Monthly Salary
8,671 GEL

Lowest Annual Salary
54,460 GEL
Lowest Monthly Salary
4,538 GEL

Highest Annual Salary
161,300 GEL
Highest Monthly Salary
13,441 GEL

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

Bank Product 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 Product Manager Salaries in Georgia

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

Salary ranges

We already know that a Bank Product Manager can earn between 54,460 GEL and 161,300 GEL on average in Georgia. 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 Product Manager in Georgia is 104,600 GEL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 104,600 GEL, and 50% of the population earn more than 104,600 GEL.

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 Product Manager salary in Georgia, 25% of the population are earning less than 72,180 GEL while 75% of the population earn more than 72,180 GEL.

75% of the population earn less than 128,500 GEL, and 25% of the population earn more than 128,500 GEL.

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 Product Manager Salary by Experience Level in Georgia

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 product 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 Product Manager in Georgia that has less than two years of experience can expect to earn somewhere in the region of 58,440 GEL.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Product Manager salary would increase to 78,620 GEL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Product Manager , the average salary would be 109,460 GEL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 130,400 GEL.
  • 15 - 20 Years Experience. A Bank Product Manager with 15 to 20 years of experience can earn an average of 142,300 GEL.
  • 20+ Years Experience. For a Bank Product Manager with more than 20 years, the expected average salary increases to 154,700 GEL.

Average Salary by Experience Chart

0-2 Years
58,440 GEL
2-5 Years +31%
78,620 GEL
5-10 Years +40%
109,460 GEL
10-15 Years +20%
130,400 GEL
15-20 Years +9%
142,300 GEL
20+ Years +8%
154,700 GEL

Bank Product Manager Salary by Education Level in Georgia

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 Product Manager in Georgia 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 Product Manager in Georgia with a bachelor's degree education can earn an average salary of 73,800 GEL.

  • Master's Degree. A Bank Product Manager in Georgia with a master's degree education can earn an average salary of 130,400 GEL.

Average Salary by Education Chart

Bachelor's Degree
73,800 GEL
Master's Degree +77%
130,400 GEL

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 Georgia is around 33,700 to 101,000 GEL 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 Product 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 Georgia, a male bank product manager will earn an average of 107,900 GEL, while a female bank product manager will earn around 102,460 GEL.

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

Average Salary by Gender Chart in Georgia

Male
107,900 GEL
Female -5%
102,460 GEL

Bank Product Manager Average Pay Raise in Georgia

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 Product Manager in Georgia is around 9% every 27 months.

The national average pay raise across all professions and industries in Georgia 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 = ( 9 ÷ 27 ) × 12  = 4%

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

Annual Pay Raise by Industry in Georgia for 2024

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

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%

Bank Product Manager Bonus and Incentive Rates in Georgia

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 Product Manager is a moderate bonus based job, with 62% of employees reporting at least one bonus in the last 12 months.

38% 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 6% to 8%.

Received Bonus
62%
No Bonus
38%

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 Georgia earn approximately 20% more than private sector employees in the same role.

Public Sector
89,800 GEL
Private Sector -20%
74,940 GEL

Salaries for Jobs Similar to a Bank Product Manager

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

Job Title Category Salary
AML Analyst Banking 125,100 GEL
Assistant Bank Branch Manager Banking 102,380 GEL
Assistant Bank Manager Banking 137,400 GEL
ATM Manager Banking 112,600 GEL
ATM Service Technician Banking 31,400 GEL
Bank Accounts Analyst Banking 46,720 GEL
Bank Accounts Collector Banking 25,440 GEL
Bank Accounts Controller Banking 56,460 GEL
Bank Accounts Executive Banking 80,640 GEL
Bank Accounts Manager Banking 101,960 GEL
Bank Auditing Manager Banking 96,500 GEL
Bank Branch Manager Banking 142,300 GEL
Bank Branch Operations Coordinator Banking 58,520 GEL
Bank Clerk Banking 27,040 GEL
Bank Client Service Associate Banking 38,140 GEL
Bank Collector Banking 29,540 GEL
Bank Compliance Specialist Banking 69,060 GEL
Bank Manager Banking 159,100 GEL
Bank Operational Risk Manager Banking 167,100 GEL
Bank Operations Head Banking 169,000 GEL
Bank Operations Officer Banking 63,400 GEL
Bank Operations Specialist Banking 95,600 GEL
Bank Process Manager Banking 88,620 GEL
Bank Programme Manager Banking 111,920 GEL
Bank Project Manager Banking 127,700 GEL
Bank Propositions Manager Banking 116,380 GEL
Bank Quantitative Analyst Banking 80,800 GEL
Bank Regional Manager Banking 164,200 GEL
Bank Regional Risk Officer Banking 87,760 GEL
Bank Relationship Manager Banking 119,020 GEL
Bank Relationship Officer Banking 58,440 GEL
Bank Teller Banking 29,320 GEL
Banker Banking 57,360 GEL
Banking Business Analyst Banking 85,700 GEL
Banking Business Development Officer Banking 56,140 GEL
Banking Business Planning Executive Banking 115,740 GEL
Banking Product Manager Banking 111,460 GEL
Banking Reference Data Manager Banking 93,340 GEL
Banking Risk Analyst Banking 84,880 GEL
Banking Technical Analyst Banking 47,180 GEL
Bankruptcy Coordinator Banking 64,040 GEL
Bill and Account Collector Banking 27,020 GEL
Budget Analyst Banking 80,500 GEL
Capital Risk Manager Banking 154,700 GEL
Cards Marketing Manager Banking 106,760 GEL
Cash Management Manager Banking 152,100 GEL
Check Processing Manager Banking 108,340 GEL
Commercial Vault Associate Banking 84,580 GEL
Corporate Banker Banking 64,040 GEL
Corporate Dealer Banking 87,060 GEL
Credit Analyst Banking 66,840 GEL
Credit and Collections Manager Banking 116,380 GEL
Credit Card Fraud Investigator Banking 86,640 GEL
Credit Portfolio Manager Banking 157,600 GEL
Credit Risk Analyst Banking 96,220 GEL
Credit Risk Associate Banking 93,220 GEL
Direct Bank Sales Representative Banking 57,440 GEL
Exchange Control Consultant Banking 89,960 GEL
Executive Account Analyst Banking 83,200 GEL
Financial Bank Planning Consultant Banking 114,380 GEL
Financial Banking Analysis Manager Banking 128,500 GEL
Financial Banking Assistant Banking 41,180 GEL
Financial Banking Systems Manager Banking 114,000 GEL
Foreign Exchange Manager Banking 119,900 GEL
Fraud Analyst Banking 86,740 GEL
Fraud Detection Associate Banking 58,520 GEL
Fraud Detection Manager Banking 136,100 GEL
Fraud Detection Supervisor Banking 78,940 GEL
Internal Bank Audit Manager Banking 154,700 GEL
Internal Bank Auditor Banking 80,020 GEL
Internal Private Banker Banking 64,040 GEL
International Banking Manager Banking 168,100 GEL
Investment Banking Analyst Banking 119,700 GEL
Loan Analyst Banking 85,080 GEL
Loan Area Manager Banking 105,620 GEL
Loan Audit Team Leader Banking 97,300 GEL
Loan Branch Manager Banking 96,720 GEL
Loan Business Development Officer Banking 49,020 GEL
Loan Clerk Banking 27,020 GEL
Loan Collection and Recovery Manager Banking 102,620 GEL
Loan Collection Manager Banking 106,160 GEL
Loan Collector Banking 29,540 GEL
Loan Examiner Banking 37,740 GEL
Loan Officer Banking 31,520 GEL
Loan Processing Manager Banking 88,620 GEL
Loan Processor Banking 38,620 GEL
Loan Quality Assurance Auditor Banking 86,800 GEL
Loan Quality Assurance Manager Banking 96,720 GEL
Loan Quality Assurance Representative Banking 63,700 GEL
Loan Review Manager Banking 93,660 GEL
Loan Team Leader Banking 88,480 GEL
Loans Manager Banking 112,600 GEL
Mortgage Advisor Banking 58,440 GEL
Mortgage Collection Manager Banking 97,900 GEL
Mortgage Collector Banking 29,040 GEL
Mortgage Credit Analyst Banking 41,820 GEL
Mortgage Credit Manager Banking 97,260 GEL
Mortgage Development Manager Banking 111,700 GEL
Mortgage Document Reviewer Banking 36,580 GEL
Mortgage Funding Manager Banking 106,960 GEL
Mortgage Operations Manager Banking 142,300 GEL
Mortgage Payment Processing Clerk Banking 31,380 GEL
Mortgage Processing Manager Banking 91,660 GEL
Mortgage Processor Banking 38,620 GEL
Mortgage Quality Assurance Auditor Banking 88,260 GEL
Mortgage Quality Assurance Manager Banking 97,840 GEL
Mortgage Servicing Clerk Banking 32,020 GEL
Mortgage Servicing Manager Banking 95,620 GEL
Mortgage Underwriter Banking 34,380 GEL
Online Banking Manager Banking 152,300 GEL
Payment Processing Clerk Banking 30,220 GEL
Personal Banker Banking 64,040 GEL
Personal Banking Advisor Banking 62,100 GEL
Phone Banker Banking 41,900 GEL
Private Banker Banking 60,920 GEL
Reconciliation and Investigation Specialist Banking 69,780 GEL
Tax Officer Banking 50,980 GEL
Teller Banking 32,020 GEL
Trade Officer Banking 34,160 GEL
Trade Product Manager Banking 101,960 GEL
Trader Banking 44,180 GEL
Treasury Operations Officer Banking 77,340 GEL

Salary Comparison by City

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

City Average Salary
Batumi 109,720 GEL
Tbilisi 113,560 GEL

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