Average Banking Business Analyst Salary in Marshall Islands for 2024

In this article, we will look at the average Banking Business Analyst salary for 2024 in Marshall Islands 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does a Banking Business Analyst Make in Marshall Islands?

A Banking Business Analyst working in Marshall Islands will typically earn around 31,080 USD per year, and this can range from the lowest average salary of about 14,840 USD to the highest average salary of 47,580 USD.

Average Annual Salary
31,080 USD
Average Monthly Salary
2,590 USD

Lowest Annual Salary
14,840 USD
Lowest Monthly Salary
1,236 USD

Highest Annual Salary
47,580 USD
Highest Monthly Salary
3,965 USD

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

Banking Business Analyst 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 Banking Business Analyst Salaries in Marshall Islands

So we've looked at the average salaries a Banking Business Analyst will earn in Marshall Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Banking Business Analyst can earn between 14,840 USD and 47,580 USD on average in Marshall Islands. 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 Banking Business Analyst in Marshall Islands is 31,180 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 31,180 USD, and 50% of the population earn more than 31,180 USD.

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 Banking Business Analyst salary in Marshall Islands, 25% of the population are earning less than 21,380 USD while 75% of the population earn more than 21,380 USD.

75% of the population earn less than 42,400 USD, and 25% of the population earn more than 42,400 USD.

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.

Banking Business Analyst Salary by Experience Level in Marshall Islands

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 banking business analyst 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 Banking Business Analyst in Marshall Islands that has less than two years of experience can expect to earn somewhere in the region of 17,560 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Banking Business Analyst salary would increase to 23,140 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Banking Business Analyst, the average salary would be 33,120 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 40,240 USD.
  • 15 - 20 Years Experience. A Banking Business Analyst with 15 to 20 years of experience can earn an average of 40,640 USD.
  • 20+ Years Experience. For a Banking Business Analyst with more than 20 years, the expected average salary increases to 45,620 USD.

Average Salary by Experience Chart

0-2 Years
17,560 USD
2-5 Years +42%
23,140 USD
5-10 Years +32%
33,120 USD
10-15 Years +23%
40,240 USD
15-20 Years +6%
40,640 USD
20+ Years +10%
45,620 USD

Banking Business Analyst Salary by Education Level in Marshall Islands

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 Banking Business Analyst in Marshall Islands 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 Banking Business Analyst in Marshall Islands with a bachelor's degree education can earn an average salary of 26,780 USD.

  • Master's Degree. A Banking Business Analyst in Marshall Islands with a master's degree education can earn an average salary of 36,720 USD.

Average Salary by Education Chart

Bachelor's Degree
26,780 USD
Master's Degree +43%
36,720 USD

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 Marshall Islands is around 11,300 to 33,800 USD 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.

Banking Business Analyst 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 Marshall Islands, a male banking business analyst will earn an average of 32,960 USD, while a female banking business analyst will earn around 31,540 USD.

This means that a male banking business analyst earns approximately 5% more than a female banking business analyst for performing the same job.

Average Salary by Gender Chart in Marshall Islands

Male
32,960 USD
Female -5%
31,540 USD

Banking Business Analyst Average Pay Raise in Marshall Islands

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 Banking Business Analyst in Marshall Islands is around 9% every 27 months.

The national average pay raise across all professions and industries in Marshall Islands 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 Banking Business Analyst in Marshall Islands can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Marshall Islands for 2024

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

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%

Banking Business Analyst Bonus and Incentive Rates in Marshall Islands

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 Banking Business Analyst is a moderate bonus based job, with 65% of employees reporting at least one bonus in the last 12 months.

35% 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
65%
No Bonus
35%

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 Marshall Islands earn approximately 24% more than private sector employees in the same role.

Public Sector
29,320 USD
Private Sector -24%
23,700 USD

Salaries for Jobs Similar to a Banking Business Analyst

In the table below, we have salary information for jobs that are similar to a Banking Business Analyst in Marshall Islands.

Job Title Category Salary
AML Analyst Banking 43,340 USD
Assistant Bank Branch Manager Banking 37,200 USD
Assistant Bank Manager Banking 48,340 USD
ATM Manager Banking 41,660 USD
ATM Service Technician Banking 12,520 USD
Bank Accounts Analyst Banking 15,760 USD
Bank Accounts Collector Banking 9,140 USD
Bank Accounts Controller Banking 20,520 USD
Bank Accounts Executive Banking 30,220 USD
Bank Accounts Manager Banking 36,020 USD
Bank Auditing Manager Banking 35,520 USD
Bank Branch Manager Banking 52,180 USD
Bank Branch Operations Coordinator Banking 20,460 USD
Bank Clerk Banking 9,440 USD
Bank Client Service Associate Banking 12,000 USD
Bank Collector Banking 9,460 USD
Bank Compliance Specialist Banking 26,080 USD
Bank Manager Banking 55,820 USD
Bank Operational Risk Manager Banking 59,000 USD
Bank Operations Head Banking 58,720 USD
Bank Operations Officer Banking 22,420 USD
Bank Operations Specialist Banking 38,140 USD
Bank Process Manager Banking 32,900 USD
Bank Product Manager Banking 34,380 USD
Bank Programme Manager Banking 40,140 USD
Bank Project Manager Banking 45,000 USD
Bank Propositions Manager Banking 41,480 USD
Bank Quantitative Analyst Banking 30,700 USD
Bank Regional Manager Banking 57,320 USD
Bank Regional Risk Officer Banking 27,020 USD
Bank Relationship Manager Banking 45,200 USD
Bank Relationship Officer Banking 19,160 USD
Bank Teller Banking 9,740 USD
Banker Banking 19,480 USD
Banking Business Development Officer Banking 16,980 USD
Banking Business Planning Executive Banking 44,300 USD
Banking Product Manager Banking 38,060 USD
Banking Reference Data Manager Banking 31,520 USD
Banking Risk Analyst Banking 27,480 USD
Banking Technical Analyst Banking 17,100 USD
Bankruptcy Coordinator Banking 21,020 USD
Bill and Account Collector Banking 12,020 USD
Budget Analyst Banking 32,020 USD
Capital Risk Manager Banking 57,080 USD
Cards Marketing Manager Banking 37,380 USD
Cash Management Manager Banking 52,820 USD
Check Processing Manager Banking 38,260 USD
Commercial Vault Associate Banking 28,720 USD
Corporate Banker Banking 23,380 USD
Corporate Dealer Banking 31,940 USD
Credit Analyst Banking 23,400 USD
Credit and Collections Manager Banking 41,980 USD
Credit Card Fraud Investigator Banking 31,180 USD
Credit Portfolio Manager Banking 59,380 USD
Credit Risk Analyst Banking 32,900 USD
Credit Risk Associate Banking 31,400 USD
Direct Bank Sales Representative Banking 21,100 USD
Exchange Control Consultant Banking 31,180 USD
Executive Account Analyst Banking 27,480 USD
Financial Bank Planning Consultant Banking 36,020 USD
Financial Banking Analysis Manager Banking 46,840 USD
Financial Banking Assistant Banking 11,880 USD
Financial Banking Systems Manager Banking 41,660 USD
Foreign Exchange Manager Banking 46,280 USD
Fraud Analyst Banking 31,400 USD
Fraud Detection Associate Banking 21,380 USD
Fraud Detection Manager Banking 47,760 USD
Fraud Detection Supervisor Banking 27,040 USD
Internal Bank Audit Manager Banking 53,860 USD
Internal Bank Auditor Banking 27,020 USD
Internal Private Banker Banking 19,940 USD
International Banking Manager Banking 64,040 USD
Investment Banking Analyst Banking 42,320 USD
Loan Analyst Banking 31,660 USD
Loan Area Manager Banking 35,000 USD
Loan Audit Team Leader Banking 32,420 USD
Loan Branch Manager Banking 34,960 USD
Loan Business Development Officer Banking 15,700 USD
Loan Clerk Banking 9,960 USD
Loan Collection and Recovery Manager Banking 34,960 USD
Loan Collection Manager Banking 38,140 USD
Loan Collector Banking 7,820 USD
Loan Examiner Banking 14,540 USD
Loan Officer Banking 10,000 USD
Loan Processing Manager Banking 31,380 USD
Loan Processor Banking 14,540 USD
Loan Quality Assurance Auditor Banking 29,600 USD
Loan Quality Assurance Manager Banking 31,520 USD
Loan Quality Assurance Representative Banking 22,540 USD
Loan Review Manager Banking 36,940 USD
Loan Team Leader Banking 27,480 USD
Loans Manager Banking 41,700 USD
Mortgage Advisor Banking 21,380 USD
Mortgage Collection Manager Banking 35,260 USD
Mortgage Collector Banking 10,380 USD
Mortgage Credit Analyst Banking 15,760 USD
Mortgage Credit Manager Banking 33,980 USD
Mortgage Development Manager Banking 36,700 USD
Mortgage Document Reviewer Banking 13,780 USD
Mortgage Funding Manager Banking 39,420 USD
Mortgage Operations Manager Banking 50,620 USD
Mortgage Payment Processing Clerk Banking 12,180 USD
Mortgage Processing Manager Banking 34,160 USD
Mortgage Processor Banking 13,960 USD
Mortgage Quality Assurance Auditor Banking 27,020 USD
Mortgage Quality Assurance Manager Banking 35,300 USD
Mortgage Servicing Clerk Banking 12,300 USD
Mortgage Servicing Manager Banking 34,080 USD
Mortgage Underwriter Banking 13,900 USD
Online Banking Manager Banking 51,080 USD
Payment Processing Clerk Banking 8,880 USD
Personal Banker Banking 20,760 USD
Personal Banking Advisor Banking 21,020 USD
Phone Banker Banking 12,000 USD
Private Banker Banking 22,540 USD
Reconciliation and Investigation Specialist Banking 24,860 USD
Tax Officer Banking 19,200 USD
Teller Banking 9,960 USD
Trade Officer Banking 12,120 USD
Trade Product Manager Banking 33,520 USD
Trader Banking 15,880 USD
Treasury Operations Officer Banking 25,160 USD

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