Average Banking Product Manager Salary in Morocco for 2024

In this article, we will look at the average Banking Product Manager salary for 2024 in Morocco 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 Moroccan dirham. To keep things simple, we are using the MAD currency code instead of the currency symbol ุฏ.ู…..

How Much Does a Banking Product Manager Make in Morocco?

A Banking Product Manager working in Morocco will typically earn around 301,600 MAD per year, and this can range from the lowest average salary of about 161,600 MAD to the highest average salary of 457,300 MAD.

Average Annual Salary
301,600 MAD
Average Monthly Salary
25,133 MAD

Lowest Annual Salary
161,600 MAD
Lowest Monthly Salary
13,466 MAD

Highest Annual Salary
457,300 MAD
Highest Monthly Salary
38,108 MAD

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

Banking 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 Banking Product Manager Salaries in Morocco

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

Salary ranges

We already know that a Banking Product Manager can earn between 161,600 MAD and 457,300 MAD on average in Morocco. 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 Product Manager in Morocco is 277,400 MAD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 277,400 MAD, and 50% of the population earn more than 277,400 MAD.

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 Product Manager salary in Morocco, 25% of the population are earning less than 197,600 MAD while 75% of the population earn more than 197,600 MAD.

75% of the population earn less than 340,000 MAD, and 25% of the population earn more than 340,000 MAD.

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 Product Manager Salary by Experience Level in Morocco

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 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 Banking Product Manager in Morocco that has less than two years of experience can expect to earn somewhere in the region of 190,500 MAD.
  • 2 - 5 Years Experience. With two to five years of experience the average Banking Product Manager salary would increase to 239,000 MAD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Banking Product Manager, the average salary would be 313,700 MAD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 371,100 MAD.
  • 15 - 20 Years Experience. A Banking Product Manager with 15 to 20 years of experience can earn an average of 412,000 MAD.
  • 20+ Years Experience. For a Banking Product Manager with more than 20 years, the expected average salary increases to 436,200 MAD.

Average Salary by Experience Chart

0-2 Years
190,500 MAD
2-5 Years +26%
239,000 MAD
5-10 Years +32%
313,700 MAD
10-15 Years +18%
371,100 MAD
15-20 Years +11%
412,000 MAD
20+ Years +6%
436,200 MAD

Banking Product Manager Salary by Education Level in Morocco

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 Product Manager in Morocco 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 Product Manager in Morocco with a bachelor's degree education can earn an average salary of 246,200 MAD.

  • Master's Degree. A Banking Product Manager in Morocco with a master's degree education can earn an average salary of 375,200 MAD.

Average Salary by Education Chart

Bachelor's Degree
246,200 MAD
Master's Degree +53%
375,200 MAD

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 Morocco is around 97,100 to 291,000 MAD 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 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 Morocco, a male banking product manager will earn an average of 314,500 MAD, while a female banking product manager will earn around 288,100 MAD.

This means that a male banking product manager earns approximately 9% more than a female banking product manager for performing the same job.

Average Salary by Gender Chart in Morocco

Male
314,500 MAD
Female -9%
288,100 MAD

Banking Product Manager Average Pay Raise in Morocco

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 Product Manager in Morocco is around 13% every 16 months.

The national average pay raise across all professions and industries in Morocco is around 9% every 17 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 = ( 13 ÷ 16 ) × 12  = 10%

What this means is that a Banking Product Manager in Morocco can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Morocco for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Banking Product Manager Bonus and Incentive Rates in Morocco

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 Product Manager is a high bonus based job, with 76% of employees reporting at least one bonus in the last 12 months.

24% 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 7%.

Received Bonus
76%
No Bonus
24%

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 Morocco earn approximately 8% more than private sector employees in the same role.

Public Sector
239,300 MAD
Private Sector -8%
222,300 MAD

Salaries for Jobs Similar to a Banking Product Manager

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

Job Title Category Salary
AML Analyst Banking 369,300 MAD
Assistant Bank Branch Manager Banking 294,700 MAD
Assistant Bank Manager Banking 394,500 MAD
ATM Manager Banking 352,000 MAD
ATM Service Technician Banking 89,960 MAD
Bank Accounts Analyst Banking 138,800 MAD
Bank Accounts Collector Banking 82,720 MAD
Bank Accounts Controller Banking 181,600 MAD
Bank Accounts Executive Banking 254,800 MAD
Bank Accounts Manager Banking 308,300 MAD
Bank Auditing Manager Banking 309,800 MAD
Bank Branch Manager Banking 420,800 MAD
Bank Branch Operations Coordinator Banking 183,600 MAD
Bank Clerk Banking 83,400 MAD
Bank Client Service Associate Banking 109,340 MAD
Bank Collector Banking 83,900 MAD
Bank Compliance Specialist Banking 214,000 MAD
Bank Manager Banking 498,000 MAD
Bank Operational Risk Manager Banking 462,300 MAD
Bank Operations Head Banking 514,300 MAD
Bank Operations Officer Banking 204,700 MAD
Bank Operations Specialist Banking 294,700 MAD
Bank Process Manager Banking 271,300 MAD
Bank Product Manager Banking 308,300 MAD
Bank Programme Manager Banking 319,600 MAD
Bank Project Manager Banking 394,800 MAD
Bank Propositions Manager Banking 352,000 MAD
Bank Quantitative Analyst Banking 240,500 MAD
Bank Regional Manager Banking 485,300 MAD
Bank Regional Risk Officer Banking 263,900 MAD
Bank Relationship Manager Banking 371,100 MAD
Bank Relationship Officer Banking 172,400 MAD
Bank Teller Banking 92,300 MAD
Banker Banking 181,600 MAD
Banking Business Analyst Banking 259,100 MAD
Banking Business Development Officer Banking 159,400 MAD
Banking Business Planning Executive Banking 369,900 MAD
Banking Reference Data Manager Banking 283,700 MAD
Banking Risk Analyst Banking 245,300 MAD
Banking Technical Analyst Banking 134,600 MAD
Bankruptcy Coordinator Banking 183,700 MAD
Bill and Account Collector Banking 91,840 MAD
Budget Analyst Banking 252,300 MAD
Capital Risk Manager Banking 483,800 MAD
Cards Marketing Manager Banking 332,500 MAD
Cash Management Manager Banking 464,900 MAD
Check Processing Manager Banking 325,900 MAD
Commercial Vault Associate Banking 252,300 MAD
Corporate Banker Banking 192,600 MAD
Corporate Dealer Banking 275,500 MAD
Credit Analyst Banking 205,700 MAD
Credit and Collections Manager Banking 335,100 MAD
Credit Card Fraud Investigator Banking 268,900 MAD
Credit Portfolio Manager Banking 472,100 MAD
Credit Risk Analyst Banking 275,200 MAD
Credit Risk Associate Banking 279,400 MAD
Direct Bank Sales Representative Banking 172,200 MAD
Exchange Control Consultant Banking 259,100 MAD
Executive Account Analyst Banking 240,500 MAD
Financial Bank Planning Consultant Banking 335,800 MAD
Financial Banking Analysis Manager Banking 359,900 MAD
Financial Banking Assistant Banking 123,400 MAD
Financial Banking Systems Manager Banking 363,000 MAD
Foreign Exchange Manager Banking 369,900 MAD
Fraud Analyst Banking 283,400 MAD
Fraud Detection Associate Banking 192,600 MAD
Fraud Detection Manager Banking 383,300 MAD
Fraud Detection Supervisor Banking 221,500 MAD
Internal Bank Audit Manager Banking 455,400 MAD
Internal Bank Auditor Banking 252,300 MAD
Internal Private Banker Banking 174,000 MAD
International Banking Manager Banking 504,500 MAD
Investment Banking Analyst Banking 354,000 MAD
Loan Analyst Banking 258,400 MAD
Loan Area Manager Banking 301,300 MAD
Loan Audit Team Leader Banking 283,400 MAD
Loan Branch Manager Banking 294,700 MAD
Loan Business Development Officer Banking 150,000 MAD
Loan Clerk Banking 92,240 MAD
Loan Collection and Recovery Manager Banking 308,900 MAD
Loan Collection Manager Banking 294,700 MAD
Loan Collector Banking 87,880 MAD
Loan Examiner Banking 111,240 MAD
Loan Officer Banking 95,620 MAD
Loan Processing Manager Banking 283,700 MAD
Loan Processor Banking 114,380 MAD
Loan Quality Assurance Auditor Banking 266,000 MAD
Loan Quality Assurance Manager Banking 281,500 MAD
Loan Quality Assurance Representative Banking 196,800 MAD
Loan Review Manager Banking 279,400 MAD
Loan Team Leader Banking 263,100 MAD
Loans Manager Banking 353,600 MAD
Mortgage Advisor Banking 172,200 MAD
Mortgage Collection Manager Banking 301,300 MAD
Mortgage Collector Banking 80,580 MAD
Mortgage Credit Analyst Banking 136,200 MAD
Mortgage Credit Manager Banking 297,000 MAD
Mortgage Development Manager Banking 325,800 MAD
Mortgage Document Reviewer Banking 116,960 MAD
Mortgage Funding Manager Banking 325,600 MAD
Mortgage Operations Manager Banking 448,500 MAD
Mortgage Payment Processing Clerk Banking 94,800 MAD
Mortgage Processing Manager Banking 301,300 MAD
Mortgage Processor Banking 113,780 MAD
Mortgage Quality Assurance Auditor Banking 254,700 MAD
Mortgage Quality Assurance Manager Banking 273,000 MAD
Mortgage Servicing Clerk Banking 91,520 MAD
Mortgage Servicing Manager Banking 273,300 MAD
Mortgage Underwriter Banking 106,440 MAD
Online Banking Manager Banking 450,300 MAD
Payment Processing Clerk Banking 85,700 MAD
Personal Banker Banking 189,300 MAD
Personal Banking Advisor Banking 181,600 MAD
Phone Banker Banking 119,860 MAD
Private Banker Banking 187,500 MAD
Reconciliation and Investigation Specialist Banking 208,600 MAD
Tax Officer Banking 159,100 MAD
Teller Banking 90,660 MAD
Trade Officer Banking 99,100 MAD
Trade Product Manager Banking 301,300 MAD
Trader Banking 119,080 MAD
Treasury Operations Officer Banking 225,300 MAD

Salary Comparison by City

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

City Average Salary
Agadir 288,700 MAD
Casablanca 352,000 MAD
Marrakech 315,700 MAD
Rabat 301,700 MAD
Tangier 339,100 MAD

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