Average Financial Banking Systems Manager Salary in Kenya for 2024

In this article, we will look at the average Financial Banking Systems Manager salary for 2024 in Kenya 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 Kenyan shilling. To keep things simple, we are using the KES currency code instead of the currency symbol Sh.

How Much Does a Financial Banking Systems Manager Make in Kenya?

A Financial Banking Systems Manager working in Kenya will typically earn around 2,711,900 KES per year, and this can range from the lowest average salary of about 1,249,900 KES to the highest average salary of 4,309,300 KES.

Average Annual Salary
2,711,900 KES
Average Monthly Salary
225,991 KES

Lowest Annual Salary
1,249,900 KES
Lowest Monthly Salary
104,158 KES

Highest Annual Salary
4,309,300 KES
Highest Monthly Salary
359,108 KES

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

Financial Banking Systems Manager 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 Systems Manager Salaries in Kenya

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

Salary ranges

We already know that a Financial Banking Systems Manager can earn between 1,249,900 KES and 4,309,300 KES on average in Kenya. 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 Systems Manager in Kenya is 2,928,100 KES. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 2,928,100 KES, and 50% of the population earn more than 2,928,100 KES.

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 Systems Manager salary in Kenya, 25% of the population are earning less than 1,870,400 KES while 75% of the population earn more than 1,870,400 KES.

75% of the population earn less than 3,912,600 KES, and 25% of the population earn more than 3,912,600 KES.

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 Systems Manager Salary by Experience Level in Kenya

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 systems manager 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 Systems Manager in Kenya that has less than two years of experience can expect to earn somewhere in the region of 1,417,600 KES.
  • 2 - 5 Years Experience. With two to five years of experience the average Financial Banking Systems Manager salary would increase to 1,882,700 KES.
  • 5 - 10 Years Experience. From five to ten years of experience as a Financial Banking Systems Manager, the average salary would be 2,794,600 KES.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 3,406,900 KES.
  • 15 - 20 Years Experience. A Financial Banking Systems Manager with 15 to 20 years of experience can earn an average of 3,706,100 KES.
  • 20+ Years Experience. For a Financial Banking Systems Manager with more than 20 years, the expected average salary increases to 4,019,900 KES.

Average Salary by Experience Chart

0-2 Years
1,417,600 KES
2-5 Years +34%
1,882,700 KES
5-10 Years +48%
2,794,600 KES
10-15 Years +22%
3,406,900 KES
15-20 Years +9%
3,706,100 KES
20+ Years +8%
4,019,900 KES

Financial Banking Systems Manager Salary by Education Level in Kenya

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 Systems Manager in Kenya 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 Systems Manager in Kenya with a bachelor's degree education can earn an average salary of 1,645,600 KES.

  • Master's Degree. A Financial Banking Systems Manager in Kenya with a master's degree education can earn an average salary of 3,178,700 KES.

Average Salary by Education Chart

Bachelor's Degree
1,645,600 KES
Master's Degree +93%
3,178,700 KES

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 Kenya is around 734,000 to 2,200,000 KES 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 Systems Manager 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 Kenya, a male financial banking systems manager will earn an average of 2,902,500 KES, while a female financial banking systems manager will earn around 2,508,300 KES.

This means that a male financial banking systems manager earns approximately 16% more than a female financial banking systems manager for performing the same job.

Average Salary by Gender Chart in Kenya

Male
2,902,500 KES
Female -16%
2,508,300 KES

Financial Banking Systems Manager Average Pay Raise in Kenya

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 Systems Manager in Kenya is around 8% every 29 months.

The national average pay raise across all professions and industries in Kenya 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 ÷ 29 ) × 12  = 3%

What this means is that a Financial Banking Systems Manager in Kenya can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Kenya for 2024

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

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 Systems Manager Bonus and Incentive Rates in Kenya

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 Systems Manager is a moderate bonus based job, with 67% of employees reporting at least one bonus in the last 12 months.

33% 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 5% to 9%.

Received Bonus
67%
No Bonus
33%

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 Kenya earn approximately 14% more than private sector employees in the same role.

Public Sector
1,908,800 KES
Private Sector -14%
1,678,300 KES

Salaries for Jobs Similar to a Financial Banking Systems Manager

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

Job Title Category Salary
AML Analyst Banking 2,676,200 KES
Assistant Bank Branch Manager Banking 2,471,700 KES
Assistant Bank Manager Banking 3,047,800 KES
ATM Manager Banking 2,605,500 KES
ATM Service Technician Banking 724,000 KES
Bank Accounts Analyst Banking 1,021,800 KES
Bank Accounts Collector Banking 672,600 KES
Bank Accounts Controller Banking 1,405,700 KES
Bank Accounts Executive Banking 2,100,900 KES
Bank Accounts Manager Banking 2,230,100 KES
Bank Auditing Manager Banking 2,362,300 KES
Bank Branch Manager Banking 3,323,300 KES
Bank Branch Operations Coordinator Banking 1,500,800 KES
Bank Clerk Banking 623,700 KES
Bank Client Service Associate Banking 903,500 KES
Bank Collector Banking 638,700 KES
Bank Compliance Specialist Banking 1,728,900 KES
Bank Manager Banking 3,850,500 KES
Bank Operational Risk Manager Banking 3,875,100 KES
Bank Operations Head Banking 3,850,500 KES
Bank Operations Officer Banking 1,537,500 KES
Bank Operations Specialist Banking 2,435,600 KES
Bank Process Manager Banking 2,065,400 KES
Bank Product Manager Banking 2,485,800 KES
Bank Programme Manager Banking 2,688,800 KES
Bank Project Manager Banking 3,156,400 KES
Bank Propositions Manager Banking 2,662,900 KES
Bank Quantitative Analyst Banking 1,967,000 KES
Bank Regional Manager Banking 4,043,600 KES
Bank Regional Risk Officer Banking 2,052,200 KES
Bank Relationship Manager Banking 2,987,000 KES
Bank Relationship Officer Banking 1,357,900 KES
Bank Teller Banking 663,100 KES
Banker Banking 1,320,500 KES
Banking Business Analyst Banking 2,026,800 KES
Banking Business Development Officer Banking 1,212,800 KES
Banking Business Planning Executive Banking 2,748,900 KES
Banking Product Manager Banking 2,533,800 KES
Banking Reference Data Manager Banking 2,124,400 KES
Banking Risk Analyst Banking 1,930,500 KES
Banking Technical Analyst Banking 1,078,200 KES
Bankruptcy Coordinator Banking 1,464,200 KES
Bill and Account Collector Banking 695,400 KES
Budget Analyst Banking 2,052,200 KES
Capital Risk Manager Banking 3,889,500 KES
Cards Marketing Manager Banking 2,401,300 KES
Cash Management Manager Banking 3,406,900 KES
Check Processing Manager Banking 2,543,000 KES
Commercial Vault Associate Banking 1,921,500 KES
Corporate Banker Banking 1,405,700 KES
Corporate Dealer Banking 2,065,400 KES
Credit Analyst Banking 1,583,700 KES
Credit and Collections Manager Banking 2,773,700 KES
Credit Card Fraud Investigator Banking 2,146,100 KES
Credit Portfolio Manager Banking 3,564,300 KES
Credit Risk Analyst Banking 2,184,900 KES
Credit Risk Associate Banking 2,065,400 KES
Direct Bank Sales Representative Banking 1,487,200 KES
Exchange Control Consultant Banking 2,100,900 KES
Executive Account Analyst Banking 1,990,300 KES
Financial Bank Planning Consultant Banking 2,605,500 KES
Financial Banking Analysis Manager Banking 2,854,700 KES
Financial Banking Assistant Banking 938,700 KES
Foreign Exchange Manager Banking 2,928,100 KES
Fraud Analyst Banking 2,052,200 KES
Fraud Detection Associate Banking 1,464,200 KES
Fraud Detection Manager Banking 3,239,400 KES
Fraud Detection Supervisor Banking 1,788,300 KES
Internal Bank Audit Manager Banking 3,817,500 KES
Internal Bank Auditor Banking 1,858,200 KES
Internal Private Banker Banking 1,380,400 KES
International Banking Manager Banking 3,970,700 KES
Investment Banking Analyst Banking 3,035,200 KES
Loan Analyst Banking 1,955,300 KES
Loan Area Manager Banking 2,374,400 KES
Loan Audit Team Leader Banking 2,221,600 KES
Loan Branch Manager Banking 2,221,600 KES
Loan Business Development Officer Banking 1,212,800 KES
Loan Clerk Banking 718,000 KES
Loan Collection and Recovery Manager Banking 2,485,800 KES
Loan Collection Manager Banking 2,447,200 KES
Loan Collector Banking 683,400 KES
Loan Examiner Banking 832,000 KES
Loan Officer Banking 756,700 KES
Loan Processing Manager Banking 2,076,600 KES
Loan Processor Banking 878,900 KES
Loan Quality Assurance Auditor Banking 1,990,300 KES
Loan Quality Assurance Manager Banking 2,242,500 KES
Loan Quality Assurance Representative Banking 1,510,400 KES
Loan Review Manager Banking 2,314,800 KES
Loan Team Leader Banking 2,086,500 KES
Loans Manager Banking 2,557,100 KES
Mortgage Advisor Banking 1,450,700 KES
Mortgage Collection Manager Banking 2,230,100 KES
Mortgage Collector Banking 633,100 KES
Mortgage Credit Analyst Banking 1,038,700 KES
Mortgage Credit Manager Banking 2,207,600 KES
Mortgage Development Manager Banking 2,557,100 KES
Mortgage Document Reviewer Banking 879,700 KES
Mortgage Funding Manager Banking 2,641,300 KES
Mortgage Operations Manager Banking 3,373,200 KES
Mortgage Payment Processing Clerk Banking 751,700 KES
Mortgage Processing Manager Banking 2,362,300 KES
Mortgage Processor Banking 938,100 KES
Mortgage Quality Assurance Auditor Banking 1,967,000 KES
Mortgage Quality Assurance Manager Banking 2,281,800 KES
Mortgage Servicing Clerk Banking 663,200 KES
Mortgage Servicing Manager Banking 2,124,400 KES
Mortgage Underwriter Banking 862,100 KES
Online Banking Manager Banking 3,406,900 KES
Payment Processing Clerk Banking 704,300 KES
Personal Banker Banking 1,450,700 KES
Personal Banking Advisor Banking 1,547,500 KES
Phone Banker Banking 1,007,400 KES
Private Banker Banking 1,450,700 KES
Reconciliation and Investigation Specialist Banking 1,668,900 KES
Tax Officer Banking 1,148,200 KES
Teller Banking 707,600 KES
Trade Officer Banking 807,900 KES
Trade Product Manager Banking 2,339,200 KES
Trader Banking 987,200 KES
Treasury Operations Officer Banking 1,703,200 KES

Salary Comparison by City

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

City Average Salary
Kisumu 2,508,300 KES
Mombasa 2,698,900 KES
Nairobi 3,094,100 KES

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