Average Credit Risk Analyst Salary in Sri Lanka for 2024

In this article, we will look at the average Credit Risk Analyst salary for 2024 in Sri Lanka 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 Sri Lankan rupee. To keep things simple, we are using the LKR currency code instead of the currency symbol Rs රු.

How Much Does a Credit Risk Analyst Make in Sri Lanka?

A Credit Risk Analyst working in Sri Lanka will typically earn around 1,440,700 LKR per year, and this can range from the lowest average salary of about 745,000 LKR to the highest average salary of 2,197,700 LKR.

Average Annual Salary
1,440,700 LKR
Average Monthly Salary
120,058 LKR

Lowest Annual Salary
745,000 LKR
Lowest Monthly Salary
62,083 LKR

Highest Annual Salary
2,197,700 LKR
Highest Monthly Salary
183,141 LKR

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

Credit 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 Credit Risk Analyst Salaries in Sri Lanka

So we've looked at the average salaries a Credit Risk Analyst will earn in Sri Lanka. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Credit Risk Analyst can earn between 745,000 LKR and 2,197,700 LKR on average in Sri Lanka. 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 Credit Risk Analyst in Sri Lanka is 1,380,400 LKR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 1,380,400 LKR, and 50% of the population earn more than 1,380,400 LKR.

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 Credit Risk Analyst salary in Sri Lanka, 25% of the population are earning less than 957,800 LKR while 75% of the population earn more than 957,800 LKR.

75% of the population earn less than 1,716,600 LKR, and 25% of the population earn more than 1,716,600 LKR.

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.

Credit Risk Analyst Salary by Experience Level in Sri Lanka

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 credit 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 Credit Risk Analyst in Sri Lanka that has less than two years of experience can expect to earn somewhere in the region of 847,000 LKR.
  • 2 - 5 Years Experience. With two to five years of experience the average Credit Risk Analyst salary would increase to 1,136,700 LKR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Credit Risk Analyst, the average salary would be 1,476,700 LKR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 1,788,300 LKR.
  • 15 - 20 Years Experience. A Credit Risk Analyst with 15 to 20 years of experience can earn an average of 1,955,300 LKR.
  • 20+ Years Experience. For a Credit Risk Analyst with more than 20 years, the expected average salary increases to 2,065,400 LKR.

Average Salary by Experience Chart

0-2 Years
847,000 LKR
2-5 Years +34%
1,136,700 LKR
5-10 Years +30%
1,476,700 LKR
10-15 Years +21%
1,788,300 LKR
15-20 Years +9%
1,955,300 LKR
20+ Years +5%
2,065,400 LKR

Credit Risk Analyst Salary by Education Level in Sri Lanka

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 Credit Risk Analyst in Sri Lanka 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 Credit Risk Analyst in Sri Lanka with a bachelor's degree education can earn an average salary of 1,196,900 LKR.

  • Master's Degree. A Credit Risk Analyst in Sri Lanka with a master's degree education can earn an average salary of 1,655,500 LKR.

Average Salary by Education Chart

Bachelor's Degree
1,196,900 LKR
Master's Degree +39%
1,655,500 LKR

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 Sri Lanka is around 449,000 to 1,350,000 LKR 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.

Credit 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 Sri Lanka, a male credit risk analyst will earn an average of 1,524,300 LKR, while a female credit risk analyst will earn around 1,380,400 LKR.

This means that a male credit risk analyst earns approximately 10% more than a female credit risk analyst for performing the same job.

Average Salary by Gender Chart in Sri Lanka

Male
1,524,300 LKR
Female -10%
1,380,400 LKR

Credit Risk Analyst Average Pay Raise in Sri Lanka

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 Credit Risk Analyst in Sri Lanka is around 13% every 16 months.

The national average pay raise across all professions and industries in Sri Lanka 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 Credit Risk Analyst in Sri Lanka can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Sri Lanka for 2024

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

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%

Credit Risk Analyst Bonus and Incentive Rates in Sri Lanka

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 Credit Risk Analyst is a high bonus based job, with 77% of employees reporting at least one bonus in the last 12 months.

23% 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 8%.

Received Bonus
77%
No Bonus
23%

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

Public Sector
1,109,200 LKR
Private Sector -8%
1,031,200 LKR

Salaries for Jobs Similar to a Credit Risk Analyst

In the table below, we have salary information for jobs that are similar to a Credit Risk Analyst in Sri Lanka.

Job Title Category Salary
AML Analyst Banking 1,751,700 LKR
Assistant Bank Branch Manager Banking 1,537,500 LKR
Assistant Bank Manager Banking 1,980,600 LKR
ATM Manager Banking 1,678,300 LKR
ATM Service Technician Banking 464,900 LKR
Bank Accounts Analyst Banking 629,800 LKR
Bank Accounts Collector Banking 384,200 LKR
Bank Accounts Controller Banking 844,600 LKR
Bank Accounts Executive Banking 1,259,300 LKR
Bank Accounts Manager Banking 1,464,200 LKR
Bank Auditing Manager Banking 1,500,800 LKR
Bank Branch Manager Banking 2,086,500 LKR
Bank Branch Operations Coordinator Banking 899,200 LKR
Bank Clerk Banking 372,600 LKR
Bank Client Service Associate Banking 528,500 LKR
Bank Collector Banking 412,000 LKR
Bank Compliance Specialist Banking 1,027,600 LKR
Bank Manager Banking 2,411,500 LKR
Bank Operational Risk Manager Banking 2,314,800 LKR
Bank Operations Head Banking 2,447,200 LKR
Bank Operations Officer Banking 904,700 LKR
Bank Operations Specialist Banking 1,510,400 LKR
Bank Process Manager Banking 1,283,600 LKR
Bank Product Manager Banking 1,560,800 LKR
Bank Programme Manager Banking 1,678,300 LKR
Bank Project Manager Banking 1,800,200 LKR
Bank Propositions Manager Banking 1,703,200 LKR
Bank Quantitative Analyst Banking 1,148,200 LKR
Bank Regional Manager Banking 2,566,100 LKR
Bank Regional Risk Officer Banking 1,212,800 LKR
Bank Relationship Manager Banking 1,703,200 LKR
Bank Relationship Officer Banking 819,000 LKR
Bank Teller Banking 401,300 LKR
Banker Banking 847,000 LKR
Banking Business Analyst Banking 1,249,900 LKR
Banking Business Development Officer Banking 735,200 LKR
Banking Business Planning Executive Banking 1,751,700 LKR
Banking Product Manager Banking 1,524,300 LKR
Banking Reference Data Manager Banking 1,369,700 LKR
Banking Risk Analyst Banking 1,192,400 LKR
Banking Technical Analyst Banking 665,300 LKR
Bankruptcy Coordinator Banking 903,500 LKR
Bill and Account Collector Banking 424,300 LKR
Budget Analyst Banking 1,273,300 LKR
Capital Risk Manager Banking 2,221,600 LKR
Cards Marketing Manager Banking 1,487,200 LKR
Cash Management Manager Banking 2,065,400 LKR
Check Processing Manager Banking 1,537,500 LKR
Commercial Vault Associate Banking 1,249,900 LKR
Corporate Banker Banking 852,600 LKR
Corporate Dealer Banking 1,283,600 LKR
Credit Analyst Banking 932,800 LKR
Credit and Collections Manager Banking 1,632,100 LKR
Credit Card Fraud Investigator Banking 1,249,900 LKR
Credit Portfolio Manager Banking 2,314,800 LKR
Credit Risk Associate Banking 1,283,600 LKR
Direct Bank Sales Representative Banking 862,100 LKR
Exchange Control Consultant Banking 1,357,900 LKR
Executive Account Analyst Banking 1,187,900 LKR
Financial Bank Planning Consultant Banking 1,537,500 LKR
Financial Banking Analysis Manager Banking 1,800,200 LKR
Financial Banking Assistant Banking 588,500 LKR
Financial Banking Systems Manager Banking 1,678,300 LKR
Foreign Exchange Manager Banking 1,811,000 LKR
Fraud Analyst Banking 1,320,500 LKR
Fraud Detection Associate Banking 899,200 LKR
Fraud Detection Manager Banking 1,990,300 LKR
Fraud Detection Supervisor Banking 1,089,400 LKR
Internal Bank Audit Manager Banking 2,290,300 LKR
Internal Bank Auditor Banking 1,224,800 LKR
Internal Private Banker Banking 890,700 LKR
International Banking Manager Banking 2,593,900 LKR
Investment Banking Analyst Banking 1,751,700 LKR
Loan Analyst Banking 1,196,900 LKR
Loan Area Manager Banking 1,464,200 LKR
Loan Audit Team Leader Banking 1,369,700 LKR
Loan Branch Manager Banking 1,357,900 LKR
Loan Business Development Officer Banking 735,200 LKR
Loan Clerk Banking 430,500 LKR
Loan Collection and Recovery Manager Banking 1,476,700 LKR
Loan Collection Manager Banking 1,464,200 LKR
Loan Collector Banking 406,300 LKR
Loan Examiner Banking 539,700 LKR
Loan Officer Banking 489,600 LKR
Loan Processing Manager Banking 1,345,400 LKR
Loan Processor Banking 562,200 LKR
Loan Quality Assurance Auditor Banking 1,273,300 LKR
Loan Quality Assurance Manager Banking 1,417,600 LKR
Loan Quality Assurance Representative Banking 948,900 LKR
Loan Review Manager Banking 1,440,700 LKR
Loan Team Leader Banking 1,283,600 LKR
Loans Manager Banking 1,583,700 LKR
Mortgage Advisor Banking 890,700 LKR
Mortgage Collection Manager Banking 1,500,800 LKR
Mortgage Collector Banking 420,100 LKR
Mortgage Credit Analyst Banking 623,200 LKR
Mortgage Credit Manager Banking 1,320,500 LKR
Mortgage Development Manager Banking 1,510,400 LKR
Mortgage Document Reviewer Banking 518,300 LKR
Mortgage Funding Manager Banking 1,537,500 LKR
Mortgage Operations Manager Banking 2,100,900 LKR
Mortgage Payment Processing Clerk Banking 464,900 LKR
Mortgage Processing Manager Banking 1,369,700 LKR
Mortgage Processor Banking 538,600 LKR
Mortgage Quality Assurance Auditor Banking 1,212,800 LKR
Mortgage Quality Assurance Manager Banking 1,391,600 LKR
Mortgage Servicing Clerk Banking 417,100 LKR
Mortgage Servicing Manager Banking 1,333,900 LKR
Mortgage Underwriter Banking 520,900 LKR
Online Banking Manager Banking 2,221,600 LKR
Payment Processing Clerk Banking 454,300 LKR
Personal Banker Banking 870,700 LKR
Personal Banking Advisor Banking 895,900 LKR
Phone Banker Banking 605,700 LKR
Private Banker Banking 927,000 LKR
Reconciliation and Investigation Specialist Banking 1,009,200 LKR
Tax Officer Banking 712,100 LKR
Teller Banking 399,900 LKR
Trade Officer Banking 498,000 LKR
Trade Product Manager Banking 1,440,700 LKR
Trader Banking 603,400 LKR
Treasury Operations Officer Banking 1,041,900 LKR

Salary Comparison by City

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

City Average Salary
Colombo 1,583,700 LKR

Link To or Reference This Page

We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.

If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!

  • "Average Credit Risk Analyst Salary in Sri Lanka for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-credit-risk-analyst-salary-in-sri-lanka/.

  • "Average Credit Risk Analyst Salary in Sri Lanka for 2024". World Salaries, https://worldsalaries.com/average-credit-risk-analyst-salary-in-sri-lanka/. Accessed 28 March, 2024

  • Average Credit Risk Analyst Salary in Sri Lanka for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-credit-risk-analyst-salary-in-sri-lanka/.