Average Banker Salary in Denmark for 2024

In this article, we will look at the average Banker salary for 2024 in Denmark 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 Danish krone. To keep things simple, we are using the DKK currency code instead of the currency symbol kr.

How Much Does a Banker Make in Denmark?

A Banker working in Denmark will typically earn around 367,900 DKK per year, and this can range from the lowest average salary of about 176,800 DKK to the highest average salary of 574,200 DKK.

Average Annual Salary
367,900 DKK
Average Monthly Salary
30,658 DKK

Lowest Annual Salary
176,800 DKK
Lowest Monthly Salary
14,733 DKK

Highest Annual Salary
574,200 DKK
Highest Monthly Salary
47,850 DKK

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

Banker 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 Banker Salaries in Denmark

So we've looked at the average salaries a Banker will earn in Denmark. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Banker can earn between 176,800 DKK and 574,200 DKK on average in Denmark. 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 Banker in Denmark is 383,300 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 383,300 DKK, and 50% of the population earn more than 383,300 DKK.

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 Banker salary in Denmark, 25% of the population are earning less than 249,600 DKK while 75% of the population earn more than 249,600 DKK.

75% of the population earn less than 499,300 DKK, and 25% of the population earn more than 499,300 DKK.

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.

Banker Salary by Experience Level in Denmark

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 banker 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 Banker in Denmark that has less than two years of experience can expect to earn somewhere in the region of 207,800 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Banker salary would increase to 294,700 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Banker, the average salary would be 382,600 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 472,000 DKK.
  • 15 - 20 Years Experience. A Banker with 15 to 20 years of experience can earn an average of 501,400 DKK.
  • 20+ Years Experience. For a Banker with more than 20 years, the expected average salary increases to 551,200 DKK.

Average Salary by Experience Chart

0-2 Years
207,800 DKK
2-5 Years +42%
294,700 DKK
5-10 Years +31%
382,600 DKK
10-15 Years +23%
472,000 DKK
15-20 Years +6%
501,400 DKK
20+ Years +10%
551,200 DKK

Banker Salary by Education Level in Denmark

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 Banker in Denmark based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Banker in Denmark with a high school education can earn an average salary of 258,400 DKK.

  • Certificate or Diploma. A Banker in Denmark with a certificate or diploma education can earn an average salary of 296,000 DKK.

  • Bachelor's Degree. A Banker in Denmark with a bachelor's degree education can earn an average salary of 430,500 DKK.

  • Master's Degree. A Banker in Denmark with a master's degree education can earn an average salary of 531,700 DKK.

Average Salary by Education Chart

High School
258,400 DKK
Certificate or Diploma +16%
296,000 DKK
Bachelor's Degree +46%
430,500 DKK
Master's Degree +23%
531,700 DKK

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 Denmark is around 203,000 to 610,000 DKK 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.

Banker 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 Denmark, a male banker will earn an average of 375,200 DKK, while a female banker will earn around 361,600 DKK.

This means that a male banker earns approximately 4% more than a female banker for performing the same job.

Average Salary by Gender Chart in Denmark

Male
375,200 DKK
Female -4%
361,600 DKK

Banker Average Pay Raise in Denmark

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 Banker in Denmark is around 12% every 14 months.

The national average pay raise across all professions and industries in Denmark is around 9% every 15 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 = ( 12 ÷ 14 ) × 12  = 10%

What this means is that a Banker in Denmark can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Denmark for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Banker Bonus and Incentive Rates in Denmark

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 Banker is a moderate bonus based job, with 58% of employees reporting at least one bonus in the last 12 months.

42% 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
58%
No Bonus
42%

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 Denmark earn approximately 6% more than private sector employees in the same role.

Public Sector
502,200 DKK
Private Sector -6%
472,100 DKK

Salaries for Jobs Similar to a Banker

In the table below, we have salary information for jobs that are similar to a Banker in Denmark.

Job Title Category Salary
AML Analyst Banking 761,400 DKK
Assistant Bank Branch Manager Banking 656,800 DKK
Assistant Bank Manager Banking 821,500 DKK
ATM Manager Banking 735,200 DKK
ATM Service Technician Banking 194,600 DKK
Bank Accounts Analyst Banking 275,200 DKK
Bank Accounts Collector Banking 172,400 DKK
Bank Accounts Controller Banking 363,000 DKK
Bank Accounts Executive Banking 519,300 DKK
Bank Accounts Manager Banking 637,500 DKK
Bank Auditing Manager Banking 600,000 DKK
Bank Branch Manager Banking 844,100 DKK
Bank Branch Operations Coordinator Banking 369,900 DKK
Bank Clerk Banking 161,600 DKK
Bank Client Service Associate Banking 239,300 DKK
Bank Collector Banking 180,500 DKK
Bank Compliance Specialist Banking 472,100 DKK
Bank Manager Banking 960,900 DKK
Bank Operational Risk Manager Banking 987,200 DKK
Bank Operations Head Banking 1,065,800 DKK
Bank Operations Officer Banking 392,300 DKK
Bank Operations Specialist Banking 637,500 DKK
Bank Process Manager Banking 592,600 DKK
Bank Product Manager Banking 650,700 DKK
Bank Programme Manager Banking 713,900 DKK
Bank Project Manager Banking 812,900 DKK
Bank Propositions Manager Banking 695,200 DKK
Bank Quantitative Analyst Banking 525,700 DKK
Bank Regional Manager Banking 1,097,500 DKK
Bank Regional Risk Officer Banking 533,100 DKK
Bank Relationship Manager Banking 769,500 DKK
Bank Relationship Officer Banking 357,700 DKK
Bank Teller Banking 172,200 DKK
Banking Business Analyst Banking 535,800 DKK
Banking Business Development Officer Banking 332,100 DKK
Banking Business Planning Executive Banking 778,900 DKK
Banking Product Manager Banking 648,200 DKK
Banking Reference Data Manager Banking 600,000 DKK
Banking Risk Analyst Banking 498,000 DKK
Banking Technical Analyst Banking 275,500 DKK
Bankruptcy Coordinator Banking 361,500 DKK
Bill and Account Collector Banking 185,100 DKK
Budget Analyst Banking 519,300 DKK
Capital Risk Manager Banking 1,000,700 DKK
Cards Marketing Manager Banking 645,800 DKK
Cash Management Manager Banking 895,900 DKK
Check Processing Manager Banking 701,400 DKK
Commercial Vault Associate Banking 498,000 DKK
Corporate Banker Banking 367,200 DKK
Corporate Dealer Banking 547,800 DKK
Credit Analyst Banking 409,000 DKK
Credit and Collections Manager Banking 681,500 DKK
Credit Card Fraud Investigator Banking 553,800 DKK
Credit Portfolio Manager Banking 948,300 DKK
Credit Risk Analyst Banking 612,500 DKK
Credit Risk Associate Banking 563,000 DKK
Direct Bank Sales Representative Banking 365,400 DKK
Exchange Control Consultant Banking 571,300 DKK
Executive Account Analyst Banking 498,000 DKK
Financial Bank Planning Consultant Banking 675,200 DKK
Financial Banking Analysis Manager Banking 767,500 DKK
Financial Banking Assistant Banking 263,900 DKK
Financial Banking Systems Manager Banking 722,100 DKK
Foreign Exchange Manager Banking 743,300 DKK
Fraud Analyst Banking 571,300 DKK
Fraud Detection Associate Banking 389,200 DKK
Fraud Detection Manager Banking 843,600 DKK
Fraud Detection Supervisor Banking 450,300 DKK
Internal Bank Audit Manager Banking 956,200 DKK
Internal Bank Auditor Banking 487,600 DKK
Internal Private Banker Banking 381,800 DKK
International Banking Manager Banking 1,089,400 DKK
Investment Banking Analyst Banking 743,300 DKK
Loan Analyst Banking 528,600 DKK
Loan Area Manager Banking 615,000 DKK
Loan Audit Team Leader Banking 573,500 DKK
Loan Branch Manager Banking 602,700 DKK
Loan Business Development Officer Banking 311,700 DKK
Loan Clerk Banking 191,600 DKK
Loan Collection and Recovery Manager Banking 663,200 DKK
Loan Collection Manager Banking 626,800 DKK
Loan Collector Banking 172,200 DKK
Loan Examiner Banking 222,300 DKK
Loan Officer Banking 207,800 DKK
Loan Processing Manager Banking 581,300 DKK
Loan Processor Banking 232,400 DKK
Loan Quality Assurance Auditor Banking 553,800 DKK
Loan Quality Assurance Manager Banking 590,200 DKK
Loan Quality Assurance Representative Banking 377,200 DKK
Loan Review Manager Banking 603,400 DKK
Loan Team Leader Banking 518,300 DKK
Loans Manager Banking 688,900 DKK
Mortgage Advisor Banking 377,200 DKK
Mortgage Collection Manager Banking 608,500 DKK
Mortgage Collector Banking 180,500 DKK
Mortgage Credit Analyst Banking 281,500 DKK
Mortgage Credit Manager Banking 563,300 DKK
Mortgage Development Manager Banking 688,900 DKK
Mortgage Document Reviewer Banking 225,700 DKK
Mortgage Funding Manager Banking 706,200 DKK
Mortgage Operations Manager Banking 934,900 DKK
Mortgage Payment Processing Clerk Banking 197,600 DKK
Mortgage Processing Manager Banking 597,800 DKK
Mortgage Processor Banking 251,500 DKK
Mortgage Quality Assurance Auditor Banking 541,700 DKK
Mortgage Quality Assurance Manager Banking 596,100 DKK
Mortgage Servicing Clerk Banking 185,100 DKK
Mortgage Servicing Manager Banking 563,000 DKK
Mortgage Underwriter Banking 210,500 DKK
Online Banking Manager Banking 890,700 DKK
Payment Processing Clerk Banking 192,600 DKK
Personal Banker Banking 382,600 DKK
Personal Banking Advisor Banking 378,300 DKK
Phone Banker Banking 253,400 DKK
Private Banker Banking 376,800 DKK
Reconciliation and Investigation Specialist Banking 412,000 DKK
Tax Officer Banking 309,800 DKK
Teller Banking 172,400 DKK
Trade Officer Banking 209,500 DKK
Trade Product Manager Banking 642,800 DKK
Trader Banking 257,700 DKK
Treasury Operations Officer Banking 472,100 DKK

Salary Comparison by City

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

City Average Salary
Copenhagen 394,500 DKK

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 Banker Salary in Denmark for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-banker-salary-in-denmark/.

  • "Average Banker Salary in Denmark for 2024". World Salaries, https://worldsalaries.com/average-banker-salary-in-denmark/. Accessed 28 March, 2024

  • Average Banker Salary in Denmark for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-banker-salary-in-denmark/.