Average Financial Banking Assistant Salary in Saudi Arabia for 2024

In this article, we will look at the average Financial Banking Assistant salary for 2024 in Saudi Arabia 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 Saudi riyal. To keep things simple, we are using the SAR currency code instead of the currency symbol ر.س.

How Much Does a Financial Banking Assistant Make in Saudi Arabia?

A Financial Banking Assistant working in Saudi Arabia will typically earn around 104,620 SAR per year, and this can range from the lowest average salary of about 58,200 SAR to the highest average salary of 158,700 SAR.

Average Annual Salary
104,620 SAR
Average Monthly Salary
8,718 SAR

Lowest Annual Salary
58,200 SAR
Lowest Monthly Salary
4,850 SAR

Highest Annual Salary
158,700 SAR
Highest Monthly Salary
13,225 SAR

These are average salaries for a Financial Banking Assistant in Saudi Arabia 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 Saudi Arabia

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

Salary ranges

We already know that a Financial Banking Assistant can earn between 58,200 SAR and 158,700 SAR on average in Saudi Arabia. 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 Saudi Arabia is 95,420 SAR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 95,420 SAR, and 50% of the population earn more than 95,420 SAR.

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 Saudi Arabia, 25% of the population are earning less than 66,840 SAR while 75% of the population earn more than 66,840 SAR.

75% of the population earn less than 117,660 SAR, and 25% of the population earn more than 117,660 SAR.

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 Saudi Arabia

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 Saudi Arabia that has less than two years of experience can expect to earn somewhere in the region of 64,920 SAR.
  • 2 - 5 Years Experience. With two to five years of experience the average Financial Banking Assistant salary would increase to 83,400 SAR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Financial Banking Assistant, the average salary would be 108,080 SAR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 129,000 SAR.
  • 15 - 20 Years Experience. A Financial Banking Assistant with 15 to 20 years of experience can earn an average of 142,300 SAR.
  • 20+ Years Experience. For a Financial Banking Assistant with more than 20 years, the expected average salary increases to 152,100 SAR.

Average Salary by Experience Chart

0-2 Years
64,920 SAR
2-5 Years +26%
83,400 SAR
5-10 Years +32%
108,080 SAR
10-15 Years +18%
129,000 SAR
15-20 Years +11%
142,300 SAR
20+ Years +6%
152,100 SAR

Financial Banking Assistant Salary by Education Level in Saudi Arabia

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 Saudi Arabia 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 Saudi Arabia with a bachelor's degree education can earn an average salary of 83,640 SAR.

  • Master's Degree. A Financial Banking Assistant in Saudi Arabia with a master's degree education can earn an average salary of 128,500 SAR.

Average Salary by Education Chart

Bachelor's Degree
83,640 SAR
Master's Degree +53%
128,500 SAR

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 Saudi Arabia is around 83,500 to 251,000 SAR 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 Saudi Arabia, a male financial banking assistant will earn an average of 108,320 SAR, while a female financial banking assistant will earn around 97,460 SAR.

This means that a male financial banking assistant earns approximately 11% more than a female financial banking assistant for performing the same job.

Average Salary by Gender Chart in Saudi Arabia

Male
108,320 SAR
Female -11%
97,460 SAR

Financial Banking Assistant Average Pay Raise in Saudi Arabia

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 Saudi Arabia is around 11% every 15 months.

The national average pay raise across all professions and industries in Saudi Arabia is around 8% 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 = ( 11 ÷ 15 ) × 12  = 9%

What this means is that a Financial Banking Assistant in Saudi Arabia can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in Saudi Arabia for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Financial Banking Assistant Bonus and Incentive Rates in Saudi Arabia

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 49% of employees reporting at least one bonus in the last 12 months.

51% 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 4% to 5%.

Received Bonus
49%
No Bonus
51%

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 Saudi Arabia earn approximately 8% more than private sector employees in the same role.

Public Sector
207,800 SAR
Private Sector -8%
192,600 SAR

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 Saudi Arabia.

Job Title Category Salary
AML Analyst Banking 305,600 SAR
Assistant Bank Branch Manager Banking 243,000 SAR
Assistant Bank Manager Banking 340,400 SAR
ATM Manager Banking 282,500 SAR
ATM Service Technician Banking 76,440 SAR
Bank Accounts Analyst Banking 112,280 SAR
Bank Accounts Collector Banking 69,040 SAR
Bank Accounts Controller Banking 151,800 SAR
Bank Accounts Executive Banking 218,900 SAR
Bank Accounts Manager Banking 254,700 SAR
Bank Auditing Manager Banking 247,800 SAR
Bank Branch Manager Banking 335,800 SAR
Bank Branch Operations Coordinator Banking 159,100 SAR
Bank Clerk Banking 66,140 SAR
Bank Client Service Associate Banking 95,720 SAR
Bank Collector Banking 67,800 SAR
Bank Compliance Specialist Banking 181,600 SAR
Bank Manager Banking 414,000 SAR
Bank Operational Risk Manager Banking 398,300 SAR
Bank Operations Head Banking 426,700 SAR
Bank Operations Officer Banking 167,100 SAR
Bank Operations Specialist Banking 254,800 SAR
Bank Process Manager Banking 215,100 SAR
Bank Product Manager Banking 272,800 SAR
Bank Programme Manager Banking 266,000 SAR
Bank Project Manager Banking 332,500 SAR
Bank Propositions Manager Banking 292,000 SAR
Bank Quantitative Analyst Banking 209,500 SAR
Bank Regional Manager Banking 430,500 SAR
Bank Regional Risk Officer Banking 209,500 SAR
Bank Relationship Manager Banking 315,700 SAR
Bank Relationship Officer Banking 137,400 SAR
Bank Teller Banking 73,120 SAR
Banker Banking 139,100 SAR
Banking Business Analyst Banking 212,500 SAR
Banking Business Development Officer Banking 137,400 SAR
Banking Business Planning Executive Banking 290,800 SAR
Banking Product Manager Banking 261,300 SAR
Banking Reference Data Manager Banking 232,900 SAR
Banking Risk Analyst Banking 215,100 SAR
Banking Technical Analyst Banking 108,800 SAR
Bankruptcy Coordinator Banking 152,100 SAR
Bill and Account Collector Banking 72,260 SAR
Budget Analyst Banking 197,600 SAR
Capital Risk Manager Banking 407,300 SAR
Cards Marketing Manager Banking 263,100 SAR
Cash Management Manager Banking 381,800 SAR
Check Processing Manager Banking 277,400 SAR
Commercial Vault Associate Banking 195,200 SAR
Corporate Banker Banking 158,700 SAR
Corporate Dealer Banking 225,700 SAR
Credit Analyst Banking 161,600 SAR
Credit and Collections Manager Banking 279,400 SAR
Credit Card Fraud Investigator Banking 210,500 SAR
Credit Portfolio Manager Banking 384,200 SAR
Credit Risk Analyst Banking 238,900 SAR
Credit Risk Associate Banking 233,900 SAR
Direct Bank Sales Representative Banking 142,300 SAR
Exchange Control Consultant Banking 209,500 SAR
Executive Account Analyst Banking 195,200 SAR
Financial Bank Planning Consultant Banking 268,900 SAR
Financial Banking Analysis Manager Banking 294,300 SAR
Financial Banking Systems Manager Banking 296,000 SAR
Foreign Exchange Manager Banking 315,700 SAR
Fraud Analyst Banking 215,100 SAR
Fraud Detection Associate Banking 152,300 SAR
Fraud Detection Manager Banking 327,800 SAR
Fraud Detection Supervisor Banking 185,100 SAR
Internal Bank Audit Manager Banking 378,300 SAR
Internal Bank Auditor Banking 197,600 SAR
Internal Private Banker Banking 154,700 SAR
International Banking Manager Banking 417,200 SAR
Investment Banking Analyst Banking 294,300 SAR
Loan Analyst Banking 212,500 SAR
Loan Area Manager Banking 263,900 SAR
Loan Audit Team Leader Banking 246,500 SAR
Loan Branch Manager Banking 240,500 SAR
Loan Business Development Officer Banking 128,500 SAR
Loan Clerk Banking 74,940 SAR
Loan Collection and Recovery Manager Banking 251,500 SAR
Loan Collection Manager Banking 253,400 SAR
Loan Collector Banking 67,360 SAR
Loan Examiner Banking 88,480 SAR
Loan Officer Banking 77,620 SAR
Loan Processing Manager Banking 217,900 SAR
Loan Processor Banking 89,460 SAR
Loan Quality Assurance Auditor Banking 222,300 SAR
Loan Quality Assurance Manager Banking 245,300 SAR
Loan Quality Assurance Representative Banking 161,300 SAR
Loan Review Manager Banking 240,500 SAR
Loan Team Leader Banking 214,000 SAR
Loans Manager Banking 281,500 SAR
Mortgage Advisor Banking 148,300 SAR
Mortgage Collection Manager Banking 245,300 SAR
Mortgage Collector Banking 66,180 SAR
Mortgage Credit Analyst Banking 107,860 SAR
Mortgage Credit Manager Banking 228,500 SAR
Mortgage Development Manager Banking 257,700 SAR
Mortgage Document Reviewer Banking 95,420 SAR
Mortgage Funding Manager Banking 282,300 SAR
Mortgage Operations Manager Banking 362,200 SAR
Mortgage Payment Processing Clerk Banking 79,260 SAR
Mortgage Processing Manager Banking 247,800 SAR
Mortgage Processor Banking 96,680 SAR
Mortgage Quality Assurance Auditor Banking 204,700 SAR
Mortgage Quality Assurance Manager Banking 231,000 SAR
Mortgage Servicing Clerk Banking 73,120 SAR
Mortgage Servicing Manager Banking 232,400 SAR
Mortgage Underwriter Banking 84,180 SAR
Online Banking Manager Banking 351,900 SAR
Payment Processing Clerk Banking 69,720 SAR
Personal Banker Banking 148,300 SAR
Personal Banking Advisor Banking 151,800 SAR
Phone Banker Banking 97,900 SAR
Private Banker Banking 159,100 SAR
Reconciliation and Investigation Specialist Banking 163,800 SAR
Tax Officer Banking 127,700 SAR
Teller Banking 73,820 SAR
Trade Officer Banking 85,020 SAR
Trade Product Manager Banking 239,000 SAR
Trader Banking 98,120 SAR
Treasury Operations Officer Banking 194,600 SAR

Salary Comparison by City

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

City Average Salary
Abha 103,140 SAR
Dammam 102,720 SAR
Jeddah 103,260 SAR
Khubar 96,520 SAR
Mecca 101,960 SAR
Medina 103,140 SAR
Riyadh 102,960 SAR
Tabuk 98,440 SAR
Taif 95,600 SAR

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