Average Credit Risk Associate Salary in Uganda for 2024

In this article, we will look at the average Credit Risk Associate salary for 2024 in Uganda 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 Ugandan shilling. To keep things simple, we are using the UGX currency code instead of the currency symbol Sh.

How Much Does a Credit Risk Associate Make in Uganda?

A Credit Risk Associate working in Uganda will typically earn around 35,758,400 UGX per year, and this can range from the lowest average salary of about 16,439,200 UGX to the highest average salary of 56,760,200 UGX.

Average Annual Salary
35,758,400 UGX
Average Monthly Salary
2,979,866 UGX

Lowest Annual Salary
16,439,200 UGX
Lowest Monthly Salary
1,369,933 UGX

Highest Annual Salary
56,760,200 UGX
Highest Monthly Salary
4,730,016 UGX

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

Credit Risk Associate 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 Associate Salaries in Uganda

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

Salary ranges

We already know that a Credit Risk Associate can earn between 16,439,200 UGX and 56,760,200 UGX on average in Uganda. 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 Associate in Uganda is 38,521,100 UGX. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 38,521,100 UGX, and 50% of the population earn more than 38,521,100 UGX.

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 Associate salary in Uganda, 25% of the population are earning less than 24,718,600 UGX while 75% of the population earn more than 24,718,600 UGX.

75% of the population earn less than 51,479,800 UGX, and 25% of the population earn more than 51,479,800 UGX.

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 Associate Salary by Experience Level in Uganda

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 associate 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 Associate in Uganda that has less than two years of experience can expect to earn somewhere in the region of 18,598,500 UGX.
  • 2 - 5 Years Experience. With two to five years of experience the average Credit Risk Associate salary would increase to 24,958,800 UGX.
  • 5 - 10 Years Experience. From five to ten years of experience as a Credit Risk Associate, the average salary would be 36,841,600 UGX.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 44,878,500 UGX.
  • 15 - 20 Years Experience. A Credit Risk Associate with 15 to 20 years of experience can earn an average of 48,961,500 UGX.
  • 20+ Years Experience. For a Credit Risk Associate with more than 20 years, the expected average salary increases to 52,918,800 UGX.

Average Salary by Experience Chart

0-2 Years
18,598,500 UGX
2-5 Years +34%
24,958,800 UGX
5-10 Years +48%
36,841,600 UGX
10-15 Years +22%
44,878,500 UGX
15-20 Years +9%
48,961,500 UGX
20+ Years +8%
52,918,800 UGX

Credit Risk Associate Salary by Education Level in Uganda

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 Associate in Uganda 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 Associate in Uganda with a bachelor's degree education can earn an average salary of 21,719,900 UGX.

  • Master's Degree. A Credit Risk Associate in Uganda with a master's degree education can earn an average salary of 41,878,100 UGX.

Average Salary by Education Chart

Bachelor's Degree
21,719,900 UGX
Master's Degree +93%
41,878,100 UGX

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 Uganda is around 13,100,000 to 39,300,000 UGX 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 Associate 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 Uganda, a male credit risk associate will earn an average of 38,521,100 UGX, while a female credit risk associate will earn around 32,879,500 UGX.

This means that a male credit risk associate earns approximately 17% more than a female credit risk associate for performing the same job.

Average Salary by Gender Chart in Uganda

Male
38,521,100 UGX
Female -17%
32,879,500 UGX

Credit Risk Associate Average Pay Raise in Uganda

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 Associate in Uganda is around 8% every 28 months.

The national average pay raise across all professions and industries in Uganda 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 Credit Risk Associate in Uganda can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Uganda for 2024

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

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%

Credit Risk Associate Bonus and Incentive Rates in Uganda

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 Associate is a low bonus based job, with 42% of employees reporting at least one bonus in the last 12 months.

58% 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 2% to 7%.

Received Bonus
42%
No Bonus
58%

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

Public Sector
34,919,600 UGX
Private Sector -25%
27,960,400 UGX

Salaries for Jobs Similar to a Credit Risk Associate

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

Job Title Category Salary
AML Analyst Banking 50,639,500 UGX
Assistant Bank Branch Manager Banking 42,239,100 UGX
Assistant Bank Manager Banking 52,918,800 UGX
ATM Manager Banking 45,839,700 UGX
ATM Service Technician Banking 12,958,200 UGX
Bank Accounts Analyst Banking 17,758,500 UGX
Bank Accounts Collector Banking 11,232,800 UGX
Bank Accounts Controller Banking 23,399,000 UGX
Bank Accounts Executive Banking 35,640,500 UGX
Bank Accounts Manager Banking 42,359,400 UGX
Bank Auditing Manager Banking 42,839,200 UGX
Bank Branch Manager Banking 56,158,300 UGX
Bank Branch Operations Coordinator Banking 25,440,400 UGX
Bank Clerk Banking 10,488,300 UGX
Bank Client Service Associate Banking 15,960,700 UGX
Bank Collector Banking 11,232,800 UGX
Bank Compliance Specialist Banking 29,519,900 UGX
Bank Manager Banking 65,519,800 UGX
Bank Operational Risk Manager Banking 65,041,800 UGX
Bank Operations Head Banking 70,318,900 UGX
Bank Operations Officer Banking 26,880,900 UGX
Bank Operations Specialist Banking 42,000,700 UGX
Bank Process Manager Banking 38,878,700 UGX
Bank Product Manager Banking 41,520,800 UGX
Bank Programme Manager Banking 46,080,100 UGX
Bank Project Manager Banking 52,918,800 UGX
Bank Propositions Manager Banking 48,480,700 UGX
Bank Quantitative Analyst Banking 34,799,800 UGX
Bank Regional Manager Banking 66,598,300 UGX
Bank Regional Risk Officer Banking 35,521,100 UGX
Bank Relationship Manager Banking 50,039,800 UGX
Bank Relationship Officer Banking 22,441,700 UGX
Bank Teller Banking 11,998,600 UGX
Banker Banking 23,399,000 UGX
Banking Business Analyst Banking 35,758,400 UGX
Banking Business Development Officer Banking 21,478,100 UGX
Banking Business Planning Executive Banking 50,398,300 UGX
Banking Product Manager Banking 42,601,100 UGX
Banking Reference Data Manager Banking 37,441,100 UGX
Banking Risk Analyst Banking 33,961,700 UGX
Banking Technical Analyst Banking 18,720,200 UGX
Bankruptcy Coordinator Banking 25,561,400 UGX
Bill and Account Collector Banking 12,481,200 UGX
Budget Analyst Banking 35,640,500 UGX
Capital Risk Manager Banking 65,041,800 UGX
Cards Marketing Manager Banking 42,000,700 UGX
Cash Management Manager Banking 61,678,300 UGX
Check Processing Manager Banking 46,800,400 UGX
Commercial Vault Associate Banking 33,599,200 UGX
Corporate Banker Banking 25,440,400 UGX
Corporate Dealer Banking 35,521,100 UGX
Credit Analyst Banking 27,361,200 UGX
Credit and Collections Manager Banking 48,721,100 UGX
Credit Card Fraud Investigator Banking 34,561,900 UGX
Credit Portfolio Manager Banking 62,519,300 UGX
Credit Risk Analyst Banking 37,441,100 UGX
Direct Bank Sales Representative Banking 24,359,000 UGX
Exchange Control Consultant Banking 37,201,700 UGX
Executive Account Analyst Banking 33,721,200 UGX
Financial Bank Planning Consultant Banking 45,119,800 UGX
Financial Banking Analysis Manager Banking 53,158,700 UGX
Financial Banking Assistant Banking 15,960,700 UGX
Financial Banking Systems Manager Banking 46,800,400 UGX
Foreign Exchange Manager Banking 51,361,500 UGX
Fraud Analyst Banking 36,480,500 UGX
Fraud Detection Associate Banking 26,040,800 UGX
Fraud Detection Manager Banking 51,959,300 UGX
Fraud Detection Supervisor Banking 29,161,000 UGX
Internal Bank Audit Manager Banking 64,079,200 UGX
Internal Bank Auditor Banking 34,919,600 UGX
Internal Private Banker Banking 24,841,800 UGX
International Banking Manager Banking 68,398,200 UGX
Investment Banking Analyst Banking 49,561,800 UGX
Loan Analyst Banking 34,799,800 UGX
Loan Area Manager Banking 41,638,700 UGX
Loan Audit Team Leader Banking 39,001,000 UGX
Loan Branch Manager Banking 39,600,100 UGX
Loan Business Development Officer Banking 21,841,900 UGX
Loan Clerk Banking 11,856,900 UGX
Loan Collection and Recovery Manager Banking 42,239,100 UGX
Loan Collection Manager Banking 41,158,900 UGX
Loan Collector Banking 11,809,800 UGX
Loan Examiner Banking 14,639,900 UGX
Loan Officer Banking 13,441,600 UGX
Loan Processing Manager Banking 36,960,300 UGX
Loan Processor Banking 15,838,200 UGX
Loan Quality Assurance Auditor Banking 36,480,500 UGX
Loan Quality Assurance Manager Banking 37,681,400 UGX
Loan Quality Assurance Representative Banking 25,801,200 UGX
Loan Review Manager Banking 39,840,400 UGX
Loan Team Leader Banking 36,480,500 UGX
Loans Manager Banking 44,641,600 UGX
Mortgage Advisor Banking 23,280,700 UGX
Mortgage Collection Manager Banking 40,199,100 UGX
Mortgage Collector Banking 11,518,700 UGX
Mortgage Credit Analyst Banking 19,200,400 UGX
Mortgage Credit Manager Banking 37,441,100 UGX
Mortgage Development Manager Banking 44,040,700 UGX
Mortgage Document Reviewer Banking 15,360,400 UGX
Mortgage Funding Manager Banking 46,800,400 UGX
Mortgage Operations Manager Banking 57,961,400 UGX
Mortgage Payment Processing Clerk Banking 13,079,500 UGX
Mortgage Processing Manager Banking 38,281,500 UGX
Mortgage Processor Banking 15,480,300 UGX
Mortgage Quality Assurance Auditor Banking 34,799,800 UGX
Mortgage Quality Assurance Manager Banking 40,799,600 UGX
Mortgage Servicing Clerk Banking 12,239,700 UGX
Mortgage Servicing Manager Banking 39,840,400 UGX
Mortgage Underwriter Banking 14,158,800 UGX
Online Banking Manager Banking 59,640,200 UGX
Payment Processing Clerk Banking 12,481,200 UGX
Personal Banker Banking 24,119,700 UGX
Personal Banking Advisor Banking 25,321,400 UGX
Phone Banker Banking 16,918,700 UGX
Private Banker Banking 26,040,800 UGX
Reconciliation and Investigation Specialist Banking 27,361,200 UGX
Tax Officer Banking 20,038,100 UGX
Teller Banking 11,998,600 UGX
Trade Officer Banking 14,038,300 UGX
Trade Product Manager Banking 41,280,700 UGX
Trader Banking 17,758,500 UGX
Treasury Operations Officer Banking 30,479,000 UGX

Salary Comparison by City

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

City Average Salary
Kampala 40,321,500 UGX

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 Associate Salary in Uganda for 2024". World Salaries. Accessed on March 28, 2024. https://worldsalaries.com/average-credit-risk-associate-salary-in-uganda/.

  • "Average Credit Risk Associate Salary in Uganda for 2024". World Salaries, https://worldsalaries.com/average-credit-risk-associate-salary-in-uganda/. Accessed 28 March, 2024

  • Average Credit Risk Associate Salary in Uganda for 2024. World Salaries. Retrieved from https://worldsalaries.com/average-credit-risk-associate-salary-in-uganda/.