Average Bank Product Manager Salary in Guatemala for 2024

In this article, we will look at the average Bank Product Manager salary for 2024 in Guatemala 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 Guatemalan quetzal. To keep things simple, we are using the GTQ currency code instead of the currency symbol Q.

How Much Does a Bank Product Manager Make in Guatemala?

A Bank Product Manager working in Guatemala will typically earn around 163,800 GTQ per year, and this can range from the lowest average salary of about 85,460 GTQ to the highest average salary of 252,300 GTQ.

Average Annual Salary
163,800 GTQ
Average Monthly Salary
13,650 GTQ

Lowest Annual Salary
85,460 GTQ
Lowest Monthly Salary
7,121 GTQ

Highest Annual Salary
252,300 GTQ
Highest Monthly Salary
21,025 GTQ

These are average salaries for a Bank Product Manager in Guatemala 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 Guatemala

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

Salary ranges

We already know that a Bank Product Manager can earn between 85,460 GTQ and 252,300 GTQ on average in Guatemala. 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 Guatemala is 159,500 GTQ. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 159,500 GTQ, and 50% of the population earn more than 159,500 GTQ.

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 Guatemala, 25% of the population are earning less than 108,340 GTQ while 75% of the population earn more than 108,340 GTQ.

75% of the population earn less than 204,700 GTQ, and 25% of the population earn more than 204,700 GTQ.

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 Guatemala

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 Guatemala that has less than two years of experience can expect to earn somewhere in the region of 93,340 GTQ.
  • 2 - 5 Years Experience. With two to five years of experience the average Bank Product Manager salary would increase to 123,400 GTQ.
  • 5 - 10 Years Experience. From five to ten years of experience as a Bank Product Manager , the average salary would be 172,200 GTQ.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 207,800 GTQ.
  • 15 - 20 Years Experience. A Bank Product Manager with 15 to 20 years of experience can earn an average of 225,700 GTQ.
  • 20+ Years Experience. For a Bank Product Manager with more than 20 years, the expected average salary increases to 239,300 GTQ.

Average Salary by Experience Chart

0-2 Years
93,340 GTQ
2-5 Years +31%
123,400 GTQ
5-10 Years +40%
172,200 GTQ
10-15 Years +20%
207,800 GTQ
15-20 Years +9%
225,700 GTQ
20+ Years +8%
239,300 GTQ

Bank Product Manager Salary by Education Level in Guatemala

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 Guatemala 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 Guatemala with a bachelor's degree education can earn an average salary of 114,000 GTQ.

  • Master's Degree. A Bank Product Manager in Guatemala with a master's degree education can earn an average salary of 204,000 GTQ.

Average Salary by Education Chart

Bachelor's Degree
114,000 GTQ
Master's Degree +77%
204,000 GTQ

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 Guatemala is around 52,400 to 157,000 GTQ 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 Guatemala, a male bank product manager will earn an average of 174,000 GTQ, while a female bank product manager will earn around 152,300 GTQ.

This means that a male bank product manager earns approximately 14% more than a female bank product manager for performing the same job.

Average Salary by Gender Chart in Guatemala

Male
174,000 GTQ
Female -14%
152,300 GTQ

Bank Product Manager Average Pay Raise in Guatemala

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 Guatemala is around 11% every 18 months.

The national average pay raise across all professions and industries in Guatemala is around 7% every 19 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 = ( 11 ÷ 18 ) × 12  = 7%

What this means is that a Bank Product Manager in Guatemala can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Guatemala for 2024

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

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 Guatemala

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 high bonus based job, with 77% of employees reporting at least one bonus in the last 12 months.

23% 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
77%
No Bonus
23%

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 Guatemala earn approximately 12% more than private sector employees in the same role.

Public Sector
134,600 GTQ
Private Sector -12%
119,700 GTQ

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 Guatemala.

Job Title Category Salary
AML Analyst Banking 194,600 GTQ
Assistant Bank Branch Manager Banking 152,300 GTQ
Assistant Bank Manager Banking 216,800 GTQ
ATM Manager Banking 181,600 GTQ
ATM Service Technician Banking 49,820 GTQ
Bank Accounts Analyst Banking 71,400 GTQ
Bank Accounts Collector Banking 42,320 GTQ
Bank Accounts Controller Banking 88,260 GTQ
Bank Accounts Executive Banking 129,000 GTQ
Bank Accounts Manager Banking 161,300 GTQ
Bank Auditing Manager Banking 158,700 GTQ
Bank Branch Manager Banking 210,500 GTQ
Bank Branch Operations Coordinator Banking 89,960 GTQ
Bank Clerk Banking 40,640 GTQ
Bank Client Service Associate Banking 56,460 GTQ
Bank Collector Banking 45,600 GTQ
Bank Compliance Specialist Banking 112,000 GTQ
Bank Manager Banking 251,500 GTQ
Bank Operational Risk Manager Banking 245,300 GTQ
Bank Operations Head Banking 261,300 GTQ
Bank Operations Officer Banking 99,460 GTQ
Bank Operations Specialist Banking 154,700 GTQ
Bank Process Manager Banking 150,000 GTQ
Bank Programme Manager Banking 167,100 GTQ
Bank Project Manager Banking 197,600 GTQ
Bank Propositions Manager Banking 187,300 GTQ
Bank Quantitative Analyst Banking 124,400 GTQ
Bank Regional Manager Banking 259,100 GTQ
Bank Regional Risk Officer Banking 128,900 GTQ
Bank Relationship Manager Banking 187,300 GTQ
Bank Relationship Officer Banking 83,760 GTQ
Bank Teller Banking 47,120 GTQ
Banker Banking 92,720 GTQ
Banking Business Analyst Banking 136,100 GTQ
Banking Business Development Officer Banking 85,440 GTQ
Banking Business Planning Executive Banking 195,200 GTQ
Banking Product Manager Banking 159,500 GTQ
Banking Reference Data Manager Banking 148,300 GTQ
Banking Risk Analyst Banking 134,600 GTQ
Banking Technical Analyst Banking 70,260 GTQ
Bankruptcy Coordinator Banking 91,520 GTQ
Bill and Account Collector Banking 48,160 GTQ
Budget Analyst Banking 127,700 GTQ
Capital Risk Manager Banking 243,000 GTQ
Cards Marketing Manager Banking 172,400 GTQ
Cash Management Manager Banking 239,000 GTQ
Check Processing Manager Banking 172,200 GTQ
Commercial Vault Associate Banking 130,400 GTQ
Corporate Banker Banking 97,840 GTQ
Corporate Dealer Banking 139,100 GTQ
Credit Analyst Banking 99,220 GTQ
Credit and Collections Manager Banking 172,400 GTQ
Credit Card Fraud Investigator Banking 128,900 GTQ
Credit Portfolio Manager Banking 257,700 GTQ
Credit Risk Analyst Banking 152,100 GTQ
Credit Risk Associate Banking 146,200 GTQ
Direct Bank Sales Representative Banking 87,640 GTQ
Exchange Control Consultant Banking 138,800 GTQ
Executive Account Analyst Banking 129,000 GTQ
Financial Bank Planning Consultant Banking 168,100 GTQ
Financial Banking Analysis Manager Banking 200,000 GTQ
Financial Banking Assistant Banking 63,480 GTQ
Financial Banking Systems Manager Banking 181,600 GTQ
Foreign Exchange Manager Banking 192,600 GTQ
Fraud Analyst Banking 146,200 GTQ
Fraud Detection Associate Banking 95,760 GTQ
Fraud Detection Manager Banking 195,200 GTQ
Fraud Detection Supervisor Banking 111,000 GTQ
Internal Bank Audit Manager Banking 228,000 GTQ
Internal Bank Auditor Banking 134,600 GTQ
Internal Private Banker Banking 99,280 GTQ
International Banking Manager Banking 277,400 GTQ
Investment Banking Analyst Banking 181,600 GTQ
Loan Analyst Banking 130,400 GTQ
Loan Area Manager Banking 163,800 GTQ
Loan Audit Team Leader Banking 152,300 GTQ
Loan Branch Manager Banking 151,800 GTQ
Loan Business Development Officer Banking 78,260 GTQ
Loan Clerk Banking 47,120 GTQ
Loan Collection and Recovery Manager Banking 152,300 GTQ
Loan Collection Manager Banking 154,700 GTQ
Loan Collector Banking 42,400 GTQ
Loan Examiner Banking 58,440 GTQ
Loan Officer Banking 52,460 GTQ
Loan Processing Manager Banking 148,300 GTQ
Loan Processor Banking 60,340 GTQ
Loan Quality Assurance Auditor Banking 136,200 GTQ
Loan Quality Assurance Manager Banking 150,000 GTQ
Loan Quality Assurance Representative Banking 99,560 GTQ
Loan Review Manager Banking 148,300 GTQ
Loan Team Leader Banking 128,500 GTQ
Loans Manager Banking 183,700 GTQ
Mortgage Advisor Banking 87,060 GTQ
Mortgage Collection Manager Banking 161,300 GTQ
Mortgage Collector Banking 42,960 GTQ
Mortgage Credit Analyst Banking 70,600 GTQ
Mortgage Credit Manager Banking 151,800 GTQ
Mortgage Development Manager Banking 169,000 GTQ
Mortgage Document Reviewer Banking 55,820 GTQ
Mortgage Funding Manager Banking 167,100 GTQ
Mortgage Operations Manager Banking 233,600 GTQ
Mortgage Payment Processing Clerk Banking 50,520 GTQ
Mortgage Processing Manager Banking 148,300 GTQ
Mortgage Processor Banking 57,900 GTQ
Mortgage Quality Assurance Auditor Banking 128,900 GTQ
Mortgage Quality Assurance Manager Banking 150,000 GTQ
Mortgage Servicing Clerk Banking 47,720 GTQ
Mortgage Servicing Manager Banking 152,100 GTQ
Mortgage Underwriter Banking 55,940 GTQ
Online Banking Manager Banking 233,600 GTQ
Payment Processing Clerk Banking 45,260 GTQ
Personal Banker Banking 96,160 GTQ
Personal Banking Advisor Banking 93,100 GTQ
Phone Banker Banking 59,660 GTQ
Private Banker Banking 96,160 GTQ
Reconciliation and Investigation Specialist Banking 107,680 GTQ
Tax Officer Banking 81,960 GTQ
Teller Banking 44,140 GTQ
Trade Officer Banking 55,940 GTQ
Trade Product Manager Banking 157,600 GTQ
Trader Banking 66,020 GTQ
Treasury Operations Officer Banking 119,900 GTQ

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