Average Financial Banking Assistant Salary in Lesotho for 2024

In this article, we will look at the average Financial Banking Assistant salary for 2024 in Lesotho 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 Lesotho loti. To keep things simple, we are using the LSL currency code instead of the currency symbol L.

How Much Does a Financial Banking Assistant Make in Lesotho?

A Financial Banking Assistant working in Lesotho will typically earn around 73,980 LSL per year, and this can range from the lowest average salary of about 36,020 LSL to the highest average salary of 117,660 LSL.

Average Annual Salary
73,980 LSL
Average Monthly Salary
6,165 LSL

Lowest Annual Salary
36,020 LSL
Lowest Monthly Salary
3,001 LSL

Highest Annual Salary
117,660 LSL
Highest Monthly Salary
9,805 LSL

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

Financial Banking Assistant 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 Financial Banking Assistant Salaries in Lesotho

So we've looked at the average salaries a Financial Banking Assistant will earn in Lesotho. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Financial Banking Assistant can earn between 36,020 LSL and 117,660 LSL on average in Lesotho. 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 Financial Banking Assistant in Lesotho is 77,620 LSL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 77,620 LSL, and 50% of the population earn more than 77,620 LSL.

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 Financial Banking Assistant salary in Lesotho, 25% of the population are earning less than 50,980 LSL while 75% of the population earn more than 50,980 LSL.

75% of the population earn less than 99,920 LSL, and 25% of the population earn more than 99,920 LSL.

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.

Financial Banking Assistant Salary by Experience Level in Lesotho

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 financial banking assistant 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 Financial Banking Assistant in Lesotho that has less than two years of experience can expect to earn somewhere in the region of 44,140 LSL.
  • 2 - 5 Years Experience. With two to five years of experience the average Financial Banking Assistant salary would increase to 55,320 LSL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Financial Banking Assistant, the average salary would be 78,960 LSL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 96,720 LSL.
  • 15 - 20 Years Experience. A Financial Banking Assistant with 15 to 20 years of experience can earn an average of 101,860 LSL.
  • 20+ Years Experience. For a Financial Banking Assistant with more than 20 years, the expected average salary increases to 108,300 LSL.

Average Salary by Experience Chart

0-2 Years
44,140 LSL
2-5 Years +29%
55,320 LSL
5-10 Years +38%
78,960 LSL
10-15 Years +24%
96,720 LSL
15-20 Years +7%
101,860 LSL
20+ Years +7%
108,300 LSL

Financial Banking Assistant Salary by Education Level in Lesotho

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 Financial Banking Assistant in Lesotho 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 Financial Banking Assistant in Lesotho with a bachelor's degree education can earn an average salary of 55,140 LSL.

  • Master's Degree. A Financial Banking Assistant in Lesotho with a master's degree education can earn an average salary of 86,420 LSL.

Average Salary by Education Chart

Bachelor's Degree
55,140 LSL
Master's Degree +60%
86,420 LSL

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 Lesotho is around 58,700 to 176,000 LSL 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.

Financial Banking Assistant 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 Lesotho, a male financial banking assistant will earn an average of 79,600 LSL, while a female financial banking assistant will earn around 69,060 LSL.

This means that a male financial banking assistant earns approximately 15% more than a female financial banking assistant for performing the same job.

Average Salary by Gender Chart in Lesotho

Male
79,600 LSL
Female -15%
69,060 LSL

Financial Banking Assistant Average Pay Raise in Lesotho

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 Financial Banking Assistant in Lesotho is around 8% every 26 months.

The national average pay raise across all professions and industries in Lesotho 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 = ( 8 ÷ 26 ) × 12  = 4%

What this means is that a Financial Banking Assistant in Lesotho can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Lesotho for 2024

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

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

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

Financial Banking Assistant Bonus and Incentive Rates in Lesotho

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 Financial Banking Assistant is a low bonus based job, with 37% of employees reporting at least one bonus in the last 12 months.

63% 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 6%.

Received Bonus
37%
No Bonus
63%

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 Lesotho earn approximately 13% more than private sector employees in the same role.

Public Sector
152,000 LSL
Private Sector -13%
134,600 LSL

Salaries for Jobs Similar to a Financial Banking Assistant

In the table below, we have salary information for jobs that are similar to a Financial Banking Assistant in Lesotho.

Job Title Category Salary
AML Analyst Banking 215,100 LSL
Assistant Bank Branch Manager Banking 192,600 LSL
Assistant Bank Manager Banking 247,800 LSL
ATM Manager Banking 212,500 LSL
ATM Service Technician Banking 58,720 LSL
Bank Accounts Analyst Banking 84,180 LSL
Bank Accounts Collector Banking 49,300 LSL
Bank Accounts Controller Banking 109,340 LSL
Bank Accounts Executive Banking 152,000 LSL
Bank Accounts Manager Banking 180,500 LSL
Bank Auditing Manager Banking 180,300 LSL
Bank Branch Manager Banking 258,400 LSL
Bank Branch Operations Coordinator Banking 106,820 LSL
Bank Clerk Banking 50,520 LSL
Bank Client Service Associate Banking 73,260 LSL
Bank Collector Banking 50,620 LSL
Bank Compliance Specialist Banking 128,500 LSL
Bank Manager Banking 311,700 LSL
Bank Operational Risk Manager Banking 292,000 LSL
Bank Operations Head Banking 307,400 LSL
Bank Operations Officer Banking 123,400 LSL
Bank Operations Specialist Banking 180,500 LSL
Bank Process Manager Banking 161,300 LSL
Bank Product Manager Banking 197,600 LSL
Bank Programme Manager Banking 209,700 LSL
Bank Project Manager Banking 232,900 LSL
Bank Propositions Manager Banking 218,900 LSL
Bank Quantitative Analyst Banking 158,700 LSL
Bank Regional Manager Banking 325,600 LSL
Bank Regional Risk Officer Banking 154,700 LSL
Bank Relationship Manager Banking 221,500 LSL
Bank Relationship Officer Banking 103,900 LSL
Bank Teller Banking 52,820 LSL
Banker Banking 103,900 LSL
Banking Business Analyst Banking 159,500 LSL
Banking Business Development Officer Banking 97,060 LSL
Banking Business Planning Executive Banking 215,100 LSL
Banking Product Manager Banking 192,000 LSL
Banking Reference Data Manager Banking 172,200 LSL
Banking Risk Analyst Banking 154,700 LSL
Banking Technical Analyst Banking 83,200 LSL
Bankruptcy Coordinator Banking 107,860 LSL
Bill and Account Collector Banking 51,900 LSL
Budget Analyst Banking 159,500 LSL
Capital Risk Manager Banking 283,700 LSL
Cards Marketing Manager Banking 200,000 LSL
Cash Management Manager Banking 273,000 LSL
Check Processing Manager Banking 207,700 LSL
Commercial Vault Associate Banking 151,800 LSL
Corporate Banker Banking 114,380 LSL
Corporate Dealer Banking 164,200 LSL
Credit Analyst Banking 117,600 LSL
Credit and Collections Manager Banking 209,500 LSL
Credit Card Fraud Investigator Banking 164,200 LSL
Credit Portfolio Manager Banking 305,600 LSL
Credit Risk Analyst Banking 180,300 LSL
Credit Risk Associate Banking 163,800 LSL
Direct Bank Sales Representative Banking 116,180 LSL
Exchange Control Consultant Banking 164,200 LSL
Executive Account Analyst Banking 158,700 LSL
Financial Bank Planning Consultant Banking 195,200 LSL
Financial Banking Analysis Manager Banking 228,500 LSL
Financial Banking Systems Manager Banking 217,900 LSL
Foreign Exchange Manager Banking 239,000 LSL
Fraud Analyst Banking 159,400 LSL
Fraud Detection Associate Banking 106,820 LSL
Fraud Detection Manager Banking 243,000 LSL
Fraud Detection Supervisor Banking 136,100 LSL
Internal Bank Audit Manager Banking 292,000 LSL
Internal Bank Auditor Banking 159,100 LSL
Internal Private Banker Banking 114,380 LSL
International Banking Manager Banking 309,800 LSL
Investment Banking Analyst Banking 237,400 LSL
Loan Analyst Banking 159,100 LSL
Loan Area Manager Banking 192,000 LSL
Loan Audit Team Leader Banking 175,900 LSL
Loan Branch Manager Banking 180,500 LSL
Loan Business Development Officer Banking 97,300 LSL
Loan Clerk Banking 51,900 LSL
Loan Collection and Recovery Manager Banking 189,300 LSL
Loan Collection Manager Banking 185,100 LSL
Loan Collector Banking 50,620 LSL
Loan Examiner Banking 72,360 LSL
Loan Officer Banking 61,180 LSL
Loan Processing Manager Banking 161,300 LSL
Loan Processor Banking 67,320 LSL
Loan Quality Assurance Auditor Banking 159,100 LSL
Loan Quality Assurance Manager Banking 180,500 LSL
Loan Quality Assurance Representative Banking 123,400 LSL
Loan Review Manager Banking 172,200 LSL
Loan Team Leader Banking 157,600 LSL
Loans Manager Banking 212,500 LSL
Mortgage Advisor Banking 108,080 LSL
Mortgage Collection Manager Banking 187,300 LSL
Mortgage Collector Banking 51,900 LSL
Mortgage Credit Analyst Banking 80,340 LSL
Mortgage Credit Manager Banking 172,200 LSL
Mortgage Development Manager Banking 201,100 LSL
Mortgage Document Reviewer Banking 69,540 LSL
Mortgage Funding Manager Banking 209,500 LSL
Mortgage Operations Manager Banking 283,400 LSL
Mortgage Payment Processing Clerk Banking 59,380 LSL
Mortgage Processing Manager Banking 172,400 LSL
Mortgage Processor Banking 67,320 LSL
Mortgage Quality Assurance Auditor Banking 152,000 LSL
Mortgage Quality Assurance Manager Banking 175,900 LSL
Mortgage Servicing Clerk Banking 52,880 LSL
Mortgage Servicing Manager Banking 176,800 LSL
Mortgage Underwriter Banking 66,180 LSL
Online Banking Manager Banking 267,100 LSL
Payment Processing Clerk Banking 57,360 LSL
Personal Banker Banking 114,380 LSL
Personal Banking Advisor Banking 119,700 LSL
Phone Banker Banking 75,100 LSL
Private Banker Banking 116,180 LSL
Reconciliation and Investigation Specialist Banking 128,900 LSL
Tax Officer Banking 96,600 LSL
Teller Banking 50,540 LSL
Trade Officer Banking 62,060 LSL
Trade Product Manager Banking 180,500 LSL
Trader Banking 78,940 LSL
Treasury Operations Officer Banking 136,200 LSL

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