Average Banking Business Analyst Salary in Zimbabwe for 2024

In this article, we will look at the average Banking Business Analyst salary for 2024 in Zimbabwe 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 Zimbabwean dollar. To keep things simple, we are using the ZWL currency code instead of the currency symbol $.

How Much Does a Banking Business Analyst Make in Zimbabwe?

A Banking Business Analyst working in Zimbabwe will typically earn around 2,902,500 ZWL per year, and this can range from the lowest average salary of about 1,333,900 ZWL to the highest average salary of 4,609,700 ZWL.

Average Annual Salary
2,902,500 ZWL
Average Monthly Salary
241,875 ZWL

Lowest Annual Salary
1,333,900 ZWL
Lowest Monthly Salary
111,158 ZWL

Highest Annual Salary
4,609,700 ZWL
Highest Monthly Salary
384,141 ZWL

These are average salaries for a Banking Business Analyst in Zimbabwe 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 Zimbabwe

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

Salary ranges

We already know that a Banking Business Analyst can earn between 1,333,900 ZWL and 4,609,700 ZWL on average in Zimbabwe. 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 Zimbabwe is 3,132,800 ZWL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 3,132,800 ZWL, and 50% of the population earn more than 3,132,800 ZWL.

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 Zimbabwe, 25% of the population are earning less than 2,015,600 ZWL while 75% of the population earn more than 2,015,600 ZWL.

75% of the population earn less than 4,187,600 ZWL, and 25% of the population earn more than 4,187,600 ZWL.

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 Zimbabwe

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 Zimbabwe that has less than two years of experience can expect to earn somewhere in the region of 1,510,400 ZWL.
  • 2 - 5 Years Experience. With two to five years of experience the average Banking Business Analyst salary would increase to 2,026,800 ZWL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Banking Business Analyst, the average salary would be 2,987,000 ZWL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 3,648,200 ZWL.
  • 15 - 20 Years Experience. A Banking Business Analyst with 15 to 20 years of experience can earn an average of 3,970,700 ZWL.
  • 20+ Years Experience. For a Banking Business Analyst with more than 20 years, the expected average salary increases to 4,297,400 ZWL.

Average Salary by Experience Chart

0-2 Years
1,510,400 ZWL
2-5 Years +34%
2,026,800 ZWL
5-10 Years +48%
2,987,000 ZWL
10-15 Years +22%
3,648,200 ZWL
15-20 Years +9%
3,970,700 ZWL
20+ Years +8%
4,297,400 ZWL

Banking Business Analyst Salary by Education Level in Zimbabwe

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 Zimbabwe 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 Zimbabwe with a bachelor's degree education can earn an average salary of 1,765,300 ZWL.

  • Master's Degree. A Banking Business Analyst in Zimbabwe with a master's degree education can earn an average salary of 3,395,900 ZWL.

Average Salary by Education Chart

Bachelor's Degree
1,765,300 ZWL
Master's Degree +93%
3,395,900 ZWL

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 Zimbabwe is around 1,080,000 to 3,250,000 ZWL 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 Zimbabwe, a male banking business analyst will earn an average of 3,071,100 ZWL, while a female banking business analyst will earn around 2,724,700 ZWL.

This means that a male banking business analyst earns approximately 13% more than a female banking business analyst for performing the same job.

Average Salary by Gender Chart in Zimbabwe

Male
3,071,100 ZWL
Female -13%
2,724,700 ZWL

Banking Business Analyst Average Pay Raise in Zimbabwe

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 Zimbabwe is around 8% every 28 months.

The national average pay raise across all professions and industries in Zimbabwe is around 4% every 29 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 = ( 8 ÷ 28 ) × 12  = 3%

What this means is that a Banking Business Analyst in Zimbabwe can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Zimbabwe for 2024

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

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%

Banking Business Analyst Bonus and Incentive Rates in Zimbabwe

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 66% of employees reporting at least one bonus in the last 12 months.

34% 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
66%
No Bonus
34%

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 Zimbabwe earn approximately 25% more than private sector employees in the same role.

Public Sector
2,893,600 ZWL
Private Sector -25%
2,314,800 ZWL

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 Zimbabwe.

Job Title Category Salary
AML Analyst Banking 3,863,700 ZWL
Assistant Bank Branch Manager Banking 3,312,100 ZWL
Assistant Bank Manager Banking 4,548,600 ZWL
ATM Manager Banking 4,006,500 ZWL
ATM Service Technician Banking 1,043,700 ZWL
Bank Accounts Analyst Banking 1,450,700 ZWL
Bank Accounts Collector Banking 958,700 ZWL
Bank Accounts Controller Banking 1,908,800 ZWL
Bank Accounts Executive Banking 2,953,200 ZWL
Bank Accounts Manager Banking 3,229,900 ZWL
Bank Auditing Manager Banking 3,503,800 ZWL
Bank Branch Manager Banking 4,777,400 ZWL
Bank Branch Operations Coordinator Banking 2,110,600 ZWL
Bank Clerk Banking 917,700 ZWL
Bank Client Service Associate Banking 1,333,900 ZWL
Bank Collector Banking 983,100 ZWL
Bank Compliance Specialist Banking 2,362,300 ZWL
Bank Manager Banking 5,545,500 ZWL
Bank Operational Risk Manager Banking 5,267,700 ZWL
Bank Operations Head Banking 5,747,700 ZWL
Bank Operations Officer Banking 2,197,700 ZWL
Bank Operations Specialist Banking 3,277,900 ZWL
Bank Process Manager Banking 3,118,900 ZWL
Bank Product Manager Banking 3,455,900 ZWL
Bank Programme Manager Banking 3,610,800 ZWL
Bank Project Manager Banking 4,510,700 ZWL
Bank Propositions Manager Banking 3,875,100 ZWL
Bank Quantitative Analyst Banking 2,893,600 ZWL
Bank Regional Manager Banking 5,591,900 ZWL
Bank Regional Risk Officer Banking 2,902,500 ZWL
Bank Relationship Manager Banking 4,270,100 ZWL
Bank Relationship Officer Banking 1,835,700 ZWL
Bank Teller Banking 1,009,600 ZWL
Banker Banking 2,038,500 ZWL
Banking Business Development Officer Banking 1,777,700 ZWL
Banking Business Planning Executive Banking 4,006,500 ZWL
Banking Product Manager Banking 3,455,900 ZWL
Banking Reference Data Manager Banking 3,277,900 ZWL
Banking Risk Analyst Banking 2,831,100 ZWL
Banking Technical Analyst Banking 1,450,700 ZWL
Bankruptcy Coordinator Banking 2,026,800 ZWL
Bill and Account Collector Banking 1,053,900 ZWL
Budget Analyst Banking 2,844,200 ZWL
Capital Risk Manager Banking 5,555,200 ZWL
Cards Marketing Manager Banking 3,421,600 ZWL
Cash Management Manager Banking 5,183,700 ZWL
Check Processing Manager Banking 3,622,400 ZWL
Commercial Vault Associate Banking 2,662,900 ZWL
Corporate Banker Banking 2,136,200 ZWL
Corporate Dealer Banking 2,987,000 ZWL
Credit Analyst Banking 2,242,500 ZWL
Credit and Collections Manager Banking 3,672,500 ZWL
Credit Card Fraud Investigator Banking 2,941,000 ZWL
Credit Portfolio Manager Banking 5,351,400 ZWL
Credit Risk Analyst Banking 3,239,400 ZWL
Credit Risk Associate Banking 2,928,100 ZWL
Direct Bank Sales Representative Banking 2,100,900 ZWL
Exchange Control Consultant Banking 3,013,500 ZWL
Executive Account Analyst Banking 2,724,700 ZWL
Financial Bank Planning Consultant Banking 3,696,900 ZWL
Financial Banking Analysis Manager Banking 4,309,300 ZWL
Financial Banking Assistant Banking 1,320,500 ZWL
Financial Banking Systems Manager Banking 3,934,900 ZWL
Foreign Exchange Manager Banking 3,970,700 ZWL
Fraud Analyst Banking 3,178,700 ZWL
Fraud Detection Associate Banking 2,052,200 ZWL
Fraud Detection Manager Banking 4,642,200 ZWL
Fraud Detection Supervisor Banking 2,593,900 ZWL
Internal Bank Audit Manager Banking 5,326,200 ZWL
Internal Bank Auditor Banking 2,676,200 ZWL
Internal Private Banker Banking 2,146,100 ZWL
International Banking Manager Banking 5,902,400 ZWL
Investment Banking Analyst Banking 4,282,500 ZWL
Loan Analyst Banking 2,953,200 ZWL
Loan Area Manager Banking 3,469,900 ZWL
Loan Audit Team Leader Banking 3,253,900 ZWL
Loan Branch Manager Banking 3,359,900 ZWL
Loan Business Development Officer Banking 1,716,600 ZWL
Loan Clerk Banking 1,043,700 ZWL
Loan Collection and Recovery Manager Banking 3,481,100 ZWL
Loan Collection Manager Banking 3,335,900 ZWL
Loan Collector Banking 899,100 ZWL
Loan Examiner Banking 1,249,900 ZWL
Loan Officer Banking 1,088,100 ZWL
Loan Processing Manager Banking 3,217,900 ZWL
Loan Processor Banking 1,273,300 ZWL
Loan Quality Assurance Auditor Banking 2,976,900 ZWL
Loan Quality Assurance Manager Banking 3,132,800 ZWL
Loan Quality Assurance Representative Banking 2,184,900 ZWL
Loan Review Manager Banking 3,108,200 ZWL
Loan Team Leader Banking 2,902,500 ZWL
Loans Manager Banking 3,648,200 ZWL
Mortgage Advisor Banking 2,076,600 ZWL
Mortgage Collection Manager Banking 3,312,100 ZWL
Mortgage Collector Banking 965,800 ZWL
Mortgage Credit Analyst Banking 1,487,200 ZWL
Mortgage Credit Manager Banking 3,253,900 ZWL
Mortgage Development Manager Banking 3,514,400 ZWL
Mortgage Document Reviewer Banking 1,249,900 ZWL
Mortgage Funding Manager Banking 3,875,100 ZWL
Mortgage Operations Manager Banking 4,762,300 ZWL
Mortgage Payment Processing Clerk Banking 1,095,900 ZWL
Mortgage Processing Manager Banking 3,239,400 ZWL
Mortgage Processor Banking 1,333,900 ZWL
Mortgage Quality Assurance Auditor Banking 2,964,800 ZWL
Mortgage Quality Assurance Manager Banking 3,205,100 ZWL
Mortgage Servicing Clerk Banking 970,600 ZWL
Mortgage Servicing Manager Banking 3,217,900 ZWL
Mortgage Underwriter Banking 1,249,900 ZWL
Online Banking Manager Banking 4,739,800 ZWL
Payment Processing Clerk Banking 1,009,600 ZWL
Personal Banker Banking 2,124,400 ZWL
Personal Banking Advisor Banking 2,184,900 ZWL
Phone Banker Banking 1,405,700 ZWL
Private Banker Banking 2,146,100 ZWL
Reconciliation and Investigation Specialist Banking 2,423,000 ZWL
Tax Officer Banking 1,632,100 ZWL
Teller Banking 942,700 ZWL
Trade Officer Banking 1,175,700 ZWL
Trade Product Manager Banking 3,514,400 ZWL
Trader Banking 1,391,600 ZWL
Treasury Operations Officer Banking 2,519,500 ZWL

Salary Comparison by City

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

City Average Salary
Bulawayo 3,047,800 ZWL
Harare 3,192,300 ZWL

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