Average Banking Risk Analyst Salary in Papua New Guinea for 2024

In this article, we will look at the average Banking Risk Analyst salary for 2024 in Papua New Guinea 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 Papua New Guinean kina. To keep things simple, we are using the PGK currency code instead of the currency symbol K.

How Much Does a Banking Risk Analyst Make in Papua New Guinea?

A Banking Risk Analyst working in Papua New Guinea will typically earn around 52,820 PGK per year, and this can range from the lowest average salary of about 26,080 PGK to the highest average salary of 82,720 PGK.

Average Annual Salary
52,820 PGK
Average Monthly Salary
4,401 PGK

Lowest Annual Salary
26,080 PGK
Lowest Monthly Salary
2,173 PGK

Highest Annual Salary
82,720 PGK
Highest Monthly Salary
6,893 PGK

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

Banking Risk 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 Risk Analyst Salaries in Papua New Guinea

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

Salary ranges

We already know that a Banking Risk Analyst can earn between 26,080 PGK and 82,720 PGK on average in Papua New Guinea. 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 Risk Analyst in Papua New Guinea is 54,700 PGK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 54,700 PGK, and 50% of the population earn more than 54,700 PGK.

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 Risk Analyst salary in Papua New Guinea, 25% of the population are earning less than 35,260 PGK while 75% of the population earn more than 35,260 PGK.

75% of the population earn less than 69,040 PGK, and 25% of the population earn more than 69,040 PGK.

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 Risk Analyst Salary by Experience Level in Papua New Guinea

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 risk 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 Risk Analyst in Papua New Guinea that has less than two years of experience can expect to earn somewhere in the region of 31,380 PGK.
  • 2 - 5 Years Experience. With two to five years of experience the average Banking Risk Analyst salary would increase to 39,560 PGK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Banking Risk Analyst, the average salary would be 56,100 PGK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 68,900 PGK.
  • 15 - 20 Years Experience. A Banking Risk Analyst with 15 to 20 years of experience can earn an average of 71,400 PGK.
  • 20+ Years Experience. For a Banking Risk Analyst with more than 20 years, the expected average salary increases to 77,120 PGK.

Average Salary by Experience Chart

0-2 Years
31,380 PGK
2-5 Years +29%
39,560 PGK
5-10 Years +38%
56,100 PGK
10-15 Years +24%
68,900 PGK
15-20 Years +7%
71,400 PGK
20+ Years +7%
77,120 PGK

Banking Risk Analyst Salary by Education Level in Papua New Guinea

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 Risk Analyst in Papua New Guinea 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 Risk Analyst in Papua New Guinea with a bachelor's degree education can earn an average salary of 39,080 PGK.

  • Master's Degree. A Banking Risk Analyst in Papua New Guinea with a master's degree education can earn an average salary of 63,700 PGK.

Average Salary by Education Chart

Bachelor's Degree
39,080 PGK
Master's Degree +60%
63,700 PGK

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 Papua New Guinea is around 20,500 to 61,600 PGK 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 Risk 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 Papua New Guinea, a male banking risk analyst will earn an average of 54,500 PGK, while a female banking risk analyst will earn around 51,080 PGK.

This means that a male banking risk analyst earns approximately 7% more than a female banking risk analyst for performing the same job.

Average Salary by Gender Chart in Papua New Guinea

Male
54,500 PGK
Female -7%
51,080 PGK

Banking Risk Analyst Average Pay Raise in Papua New Guinea

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 Risk Analyst in Papua New Guinea is around 9% every 27 months.

The national average pay raise across all professions and industries in Papua New Guinea 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 Risk Analyst in Papua New Guinea can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Papua New Guinea for 2024

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

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

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Banking Risk Analyst Bonus and Incentive Rates in Papua New Guinea

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 Risk Analyst is a moderate bonus based job, with 63% of employees reporting at least one bonus in the last 12 months.

37% 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
63%
No Bonus
37%

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 Papua New Guinea earn approximately 21% more than private sector employees in the same role.

Public Sector
53,120 PGK
Private Sector -21%
43,760 PGK

Salaries for Jobs Similar to a Banking Risk Analyst

In the table below, we have salary information for jobs that are similar to a Banking Risk Analyst in Papua New Guinea.

Job Title Category Salary
AML Analyst Banking 78,420 PGK
Assistant Bank Branch Manager Banking 66,000 PGK
Assistant Bank Manager Banking 83,300 PGK
ATM Manager Banking 66,960 PGK
ATM Service Technician Banking 19,380 PGK
Bank Accounts Analyst Banking 25,660 PGK
Bank Accounts Collector Banking 17,540 PGK
Bank Accounts Controller Banking 37,620 PGK
Bank Accounts Executive Banking 51,340 PGK
Bank Accounts Manager Banking 66,020 PGK
Bank Auditing Manager Banking 64,040 PGK
Bank Branch Manager Banking 89,460 PGK
Bank Branch Operations Coordinator Banking 38,260 PGK
Bank Clerk Banking 16,720 PGK
Bank Client Service Associate Banking 23,480 PGK
Bank Collector Banking 15,300 PGK
Bank Compliance Specialist Banking 46,280 PGK
Bank Manager Banking 105,800 PGK
Bank Operational Risk Manager Banking 99,340 PGK
Bank Operations Head Banking 101,960 PGK
Bank Operations Officer Banking 36,720 PGK
Bank Operations Specialist Banking 64,300 PGK
Bank Process Manager Banking 55,580 PGK
Bank Product Manager Banking 64,640 PGK
Bank Programme Manager Banking 69,180 PGK
Bank Project Manager Banking 76,280 PGK
Bank Propositions Manager Banking 74,940 PGK
Bank Quantitative Analyst Banking 50,180 PGK
Bank Regional Manager Banking 104,600 PGK
Bank Regional Risk Officer Banking 51,100 PGK
Bank Relationship Manager Banking 71,400 PGK
Bank Relationship Officer Banking 35,300 PGK
Bank Teller Banking 17,860 PGK
Banker Banking 35,520 PGK
Banking Business Analyst Banking 52,820 PGK
Banking Business Development Officer Banking 32,420 PGK
Banking Business Planning Executive Banking 79,280 PGK
Banking Product Manager Banking 64,200 PGK
Banking Reference Data Manager Banking 54,560 PGK
Banking Technical Analyst Banking 26,400 PGK
Bankruptcy Coordinator Banking 36,800 PGK
Bill and Account Collector Banking 16,980 PGK
Budget Analyst Banking 52,540 PGK
Capital Risk Manager Banking 96,540 PGK
Cards Marketing Manager Banking 64,040 PGK
Cash Management Manager Banking 92,400 PGK
Check Processing Manager Banking 66,580 PGK
Commercial Vault Associate Banking 49,020 PGK
Corporate Banker Banking 37,380 PGK
Corporate Dealer Banking 58,440 PGK
Credit Analyst Banking 40,560 PGK
Credit and Collections Manager Banking 71,280 PGK
Credit Card Fraud Investigator Banking 55,140 PGK
Credit Portfolio Manager Banking 97,880 PGK
Credit Risk Analyst Banking 61,180 PGK
Credit Risk Associate Banking 52,300 PGK
Direct Bank Sales Representative Banking 35,000 PGK
Exchange Control Consultant Banking 57,620 PGK
Executive Account Analyst Banking 52,180 PGK
Financial Bank Planning Consultant Banking 63,400 PGK
Financial Banking Analysis Manager Banking 76,440 PGK
Financial Banking Assistant Banking 23,260 PGK
Financial Banking Systems Manager Banking 73,800 PGK
Foreign Exchange Manager Banking 78,960 PGK
Fraud Analyst Banking 52,880 PGK
Fraud Detection Associate Banking 38,260 PGK
Fraud Detection Manager Banking 83,900 PGK
Fraud Detection Supervisor Banking 47,580 PGK
Internal Bank Audit Manager Banking 94,800 PGK
Internal Bank Auditor Banking 53,380 PGK
Internal Private Banker Banking 38,140 PGK
International Banking Manager Banking 108,080 PGK
Investment Banking Analyst Banking 75,040 PGK
Loan Analyst Banking 51,340 PGK
Loan Area Manager Banking 67,560 PGK
Loan Audit Team Leader Banking 62,060 PGK
Loan Branch Manager Banking 57,440 PGK
Loan Business Development Officer Banking 31,940 PGK
Loan Clerk Banking 19,020 PGK
Loan Collection and Recovery Manager Banking 62,100 PGK
Loan Collection Manager Banking 64,040 PGK
Loan Collector Banking 18,780 PGK
Loan Examiner Banking 24,840 PGK
Loan Officer Banking 21,020 PGK
Loan Processing Manager Banking 56,100 PGK
Loan Processor Banking 26,020 PGK
Loan Quality Assurance Auditor Banking 54,460 PGK
Loan Quality Assurance Manager Banking 59,240 PGK
Loan Quality Assurance Representative Banking 41,180 PGK
Loan Review Manager Banking 59,660 PGK
Loan Team Leader Banking 53,600 PGK
Loans Manager Banking 65,920 PGK
Mortgage Advisor Banking 37,800 PGK
Mortgage Collection Manager Banking 62,460 PGK
Mortgage Collector Banking 16,720 PGK
Mortgage Credit Analyst Banking 25,440 PGK
Mortgage Credit Manager Banking 58,720 PGK
Mortgage Development Manager Banking 67,020 PGK
Mortgage Document Reviewer Banking 20,460 PGK
Mortgage Funding Manager Banking 69,060 PGK
Mortgage Operations Manager Banking 87,060 PGK
Mortgage Payment Processing Clerk Banking 19,060 PGK
Mortgage Processing Manager Banking 61,180 PGK
Mortgage Processor Banking 21,300 PGK
Mortgage Quality Assurance Auditor Banking 50,180 PGK
Mortgage Quality Assurance Manager Banking 57,320 PGK
Mortgage Servicing Clerk Banking 17,740 PGK
Mortgage Servicing Manager Banking 57,360 PGK
Mortgage Underwriter Banking 24,840 PGK
Online Banking Manager Banking 91,560 PGK
Payment Processing Clerk Banking 19,860 PGK
Personal Banker Banking 40,420 PGK
Personal Banking Advisor Banking 37,740 PGK
Phone Banker Banking 26,020 PGK
Private Banker Banking 40,140 PGK
Reconciliation and Investigation Specialist Banking 44,540 PGK
Tax Officer Banking 29,640 PGK
Teller Banking 17,760 PGK
Trade Officer Banking 23,400 PGK
Trade Product Manager Banking 60,600 PGK
Trader Banking 25,680 PGK
Treasury Operations Officer Banking 46,040 PGK

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