Average Corporate Banker Salary in Iraq for 2024

In this article, we will look at the average Corporate Banker salary for 2024 in Iraq 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 Iraqi dinar. To keep things simple, we are using the IQD currency code instead of the currency symbol ع.د.

How Much Does a Corporate Banker Make in Iraq?

A Corporate Banker working in Iraq will typically earn around 19,439,300 IQD per year, and this can range from the lowest average salary of about 10,306,800 IQD to the highest average salary of 29,519,900 IQD.

Average Annual Salary
19,439,300 IQD
Average Monthly Salary
1,619,941 IQD

Lowest Annual Salary
10,306,800 IQD
Lowest Monthly Salary
858,900 IQD

Highest Annual Salary
29,519,900 IQD
Highest Monthly Salary
2,459,991 IQD

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

Corporate 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 Corporate Banker Salaries in Iraq

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

Salary ranges

We already know that a Corporate Banker can earn between 10,306,800 IQD and 29,519,900 IQD on average in Iraq. 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 Corporate Banker in Iraq is 18,239,400 IQD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 18,239,400 IQD, and 50% of the population earn more than 18,239,400 IQD.

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 Corporate Banker salary in Iraq, 25% of the population are earning less than 12,841,200 IQD while 75% of the population earn more than 12,841,200 IQD.

75% of the population earn less than 22,441,700 IQD, and 25% of the population earn more than 22,441,700 IQD.

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.

Corporate Banker Salary by Experience Level in Iraq

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 corporate 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 Corporate Banker in Iraq that has less than two years of experience can expect to earn somewhere in the region of 11,856,900 IQD.
  • 2 - 5 Years Experience. With two to five years of experience the average Corporate Banker salary would increase to 14,519,400 IQD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Corporate Banker, the average salary would be 20,639,100 IQD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 24,119,700 IQD.
  • 15 - 20 Years Experience. A Corporate Banker with 15 to 20 years of experience can earn an average of 26,520,600 IQD.
  • 20+ Years Experience. For a Corporate Banker with more than 20 years, the expected average salary increases to 28,078,900 IQD.

Average Salary by Experience Chart

0-2 Years
11,856,900 IQD
2-5 Years +23%
14,519,400 IQD
5-10 Years +42%
20,639,100 IQD
10-15 Years +17%
24,119,700 IQD
15-20 Years +10%
26,520,600 IQD
20+ Years +6%
28,078,900 IQD

Corporate Banker Salary by Education Level in Iraq

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

  • Certificate or Diploma. A Corporate Banker in Iraq with a certificate or diploma education can earn an average salary of 14,519,400 IQD.

  • Bachelor's Degree. A Corporate Banker in Iraq with a bachelor's degree education can earn an average salary of 18,840,100 IQD.

  • Master's Degree. A Corporate Banker in Iraq with a master's degree education can earn an average salary of 26,880,900 IQD.

Average Salary by Education Chart

Certificate or Diploma
14,519,400 IQD
Bachelor's Degree +29%
18,840,100 IQD
Master's Degree +43%
26,880,900 IQD

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 Iraq is around 10,200,000 to 30,700,000 IQD 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.

Corporate 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 Iraq, a male corporate banker will earn an average of 20,639,100 IQD, while a female corporate banker will earn around 17,519,700 IQD.

This means that a male corporate banker earns approximately 18% more than a female corporate banker for performing the same job.

Average Salary by Gender Chart in Iraq

Male
20,639,100 IQD
Female -18%
17,519,700 IQD

Corporate Banker Average Pay Raise in Iraq

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 Corporate Banker in Iraq is around 10% every 19 months.

The national average pay raise across all professions and industries in Iraq is around 7% every 20 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 = ( 10 ÷ 19 ) × 12  = 6%

What this means is that a Corporate Banker in Iraq can expect to receive an average pay raise of around 6% every 12 months.

Annual Pay Raise by Industry in Iraq for 2024

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

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%

Corporate Banker Bonus and Incentive Rates in Iraq

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 Corporate Banker is a low bonus based job, with 48% of employees reporting at least one bonus in the last 12 months.

52% 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 5%.

Received Bonus
48%
No Bonus
52%

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 Iraq earn approximately 15% more than private sector employees in the same role.

Public Sector
26,399,200 IQD
Private Sector -15%
23,040,200 IQD

Salaries for Jobs Similar to a Corporate Banker

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

Job Title Category Salary
AML Analyst Banking 40,439,700 IQD
Assistant Bank Branch Manager Banking 35,279,300 IQD
Assistant Bank Manager Banking 45,719,900 IQD
ATM Manager Banking 38,760,100 IQD
ATM Service Technician Banking 10,704,700 IQD
Bank Accounts Analyst Banking 15,480,300 IQD
Bank Accounts Collector Banking 9,442,200 IQD
Bank Accounts Controller Banking 19,558,300 IQD
Bank Accounts Executive Banking 29,041,200 IQD
Bank Accounts Manager Banking 33,841,700 IQD
Bank Auditing Manager Banking 34,561,900 IQD
Bank Branch Manager Banking 47,999,400 IQD
Bank Branch Operations Coordinator Banking 20,760,500 IQD
Bank Clerk Banking 8,496,400 IQD
Bank Client Service Associate Banking 12,361,500 IQD
Bank Collector Banking 9,478,900 IQD
Bank Compliance Specialist Banking 23,399,000 IQD
Bank Manager Banking 51,479,800 IQD
Bank Operational Risk Manager Banking 55,081,300 IQD
Bank Operations Head Banking 52,201,800 IQD
Bank Operations Officer Banking 21,121,400 IQD
Bank Operations Specialist Banking 32,280,500 IQD
Bank Process Manager Banking 30,841,400 IQD
Bank Product Manager Banking 33,360,800 IQD
Bank Programme Manager Banking 38,521,100 IQD
Bank Project Manager Banking 44,519,300 IQD
Bank Propositions Manager Banking 37,441,100 IQD
Bank Quantitative Analyst Banking 26,880,900 IQD
Bank Regional Manager Banking 57,239,200 IQD
Bank Regional Risk Officer Banking 27,479,000 IQD
Bank Relationship Manager Banking 42,119,100 IQD
Bank Relationship Officer Banking 18,479,600 IQD
Bank Teller Banking 9,179,000 IQD
Banker Banking 20,038,100 IQD
Banking Business Analyst Banking 28,560,900 IQD
Banking Business Development Officer Banking 16,799,900 IQD
Banking Business Planning Executive Banking 39,481,900 IQD
Banking Product Manager Banking 36,121,000 IQD
Banking Reference Data Manager Banking 31,559,900 IQD
Banking Risk Analyst Banking 28,439,500 IQD
Banking Technical Analyst Banking 14,639,900 IQD
Bankruptcy Coordinator Banking 19,200,400 IQD
Bill and Account Collector Banking 10,378,100 IQD
Budget Analyst Banking 29,161,000 IQD
Capital Risk Manager Banking 54,719,600 IQD
Cards Marketing Manager Banking 36,480,500 IQD
Cash Management Manager Banking 47,158,400 IQD
Check Processing Manager Banking 35,039,300 IQD
Commercial Vault Associate Banking 27,841,200 IQD
Corporate Dealer Banking 28,919,800 IQD
Credit Analyst Banking 21,241,100 IQD
Credit and Collections Manager Banking 36,960,300 IQD
Credit Card Fraud Investigator Banking 28,318,900 IQD
Credit Portfolio Manager Banking 54,840,400 IQD
Credit Risk Analyst Banking 31,320,700 IQD
Credit Risk Associate Banking 30,600,900 IQD
Direct Bank Sales Representative Banking 19,558,300 IQD
Exchange Control Consultant Banking 30,240,200 IQD
Executive Account Analyst Banking 29,041,200 IQD
Financial Bank Planning Consultant Banking 34,919,600 IQD
Financial Banking Analysis Manager Banking 40,799,600 IQD
Financial Banking Assistant Banking 13,199,100 IQD
Financial Banking Systems Manager Banking 37,919,200 IQD
Foreign Exchange Manager Banking 40,799,600 IQD
Fraud Analyst Banking 31,320,700 IQD
Fraud Detection Associate Banking 20,281,100 IQD
Fraud Detection Manager Banking 42,239,100 IQD
Fraud Detection Supervisor Banking 24,478,500 IQD
Internal Bank Audit Manager Banking 51,479,800 IQD
Internal Bank Auditor Banking 27,479,000 IQD
Internal Private Banker Banking 19,558,300 IQD
International Banking Manager Banking 58,199,900 IQD
Investment Banking Analyst Banking 39,718,900 IQD
Loan Analyst Banking 28,560,900 IQD
Loan Area Manager Banking 34,919,600 IQD
Loan Audit Team Leader Banking 32,639,300 IQD
Loan Branch Manager Banking 32,398,700 IQD
Loan Business Development Officer Banking 17,519,700 IQD
Loan Clerk Banking 10,282,900 IQD
Loan Collection and Recovery Manager Banking 35,039,300 IQD
Loan Collection Manager Banking 34,919,600 IQD
Loan Collector Banking 9,576,900 IQD
Loan Examiner Banking 12,841,200 IQD
Loan Officer Banking 10,919,400 IQD
Loan Processing Manager Banking 31,678,800 IQD
Loan Processor Banking 13,319,300 IQD
Loan Quality Assurance Auditor Banking 27,118,300 IQD
Loan Quality Assurance Manager Banking 30,240,200 IQD
Loan Quality Assurance Representative Banking 20,159,800 IQD
Loan Review Manager Banking 30,600,900 IQD
Loan Team Leader Banking 27,479,000 IQD
Loans Manager Banking 38,878,700 IQD
Mortgage Advisor Banking 18,958,500 IQD
Mortgage Collection Manager Banking 32,038,500 IQD
Mortgage Collector Banking 8,952,900 IQD
Mortgage Credit Analyst Banking 14,639,900 IQD
Mortgage Credit Manager Banking 30,841,400 IQD
Mortgage Development Manager Banking 35,398,900 IQD
Mortgage Document Reviewer Banking 12,121,000 IQD
Mortgage Funding Manager Banking 36,001,200 IQD
Mortgage Operations Manager Banking 48,841,700 IQD
Mortgage Payment Processing Clerk Banking 10,801,300 IQD
Mortgage Processing Manager Banking 31,919,300 IQD
Mortgage Processor Banking 12,600,600 IQD
Mortgage Quality Assurance Auditor Banking 28,078,900 IQD
Mortgage Quality Assurance Manager Banking 32,280,500 IQD
Mortgage Servicing Clerk Banking 9,754,300 IQD
Mortgage Servicing Manager Banking 31,081,900 IQD
Mortgage Underwriter Banking 12,121,000 IQD
Online Banking Manager Banking 49,561,800 IQD
Payment Processing Clerk Banking 10,141,000 IQD
Personal Banker Banking 21,241,100 IQD
Personal Banking Advisor Banking 20,281,100 IQD
Phone Banker Banking 13,561,900 IQD
Private Banker Banking 20,760,500 IQD
Reconciliation and Investigation Specialist Banking 23,399,000 IQD
Tax Officer Banking 17,519,700 IQD
Teller Banking 9,863,700 IQD
Trade Officer Banking 11,580,300 IQD
Trade Product Manager Banking 33,240,500 IQD
Trader Banking 13,919,600 IQD
Treasury Operations Officer Banking 23,759,100 IQD

Salary Comparison by City

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

City Average Salary
Al-Basrah 21,121,400 IQD
Al-Mawsil 17,879,000 IQD
An-Najaf 20,400,600 IQD
Baghdad 21,719,900 IQD
Irbil 19,439,300 IQD
Kirkuk 18,840,100 IQD

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