Average Internal Bank Auditor Salary in Liberia for 2024

In this article, we will look at the average Internal Bank Auditor salary for 2024 in Liberia 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 Liberian dollar. To keep things simple, we are using the LRD currency code instead of the currency symbol $.

How Much Does an Internal Bank Auditor Make in Liberia?

An Internal Bank Auditor working in Liberia will typically earn around 983,700 LRD per year, and this can range from the lowest average salary of about 510,200 LRD to the highest average salary of 1,500,800 LRD.

Average Annual Salary
983,700 LRD
Average Monthly Salary
81,975 LRD

Lowest Annual Salary
510,200 LRD
Lowest Monthly Salary
42,516 LRD

Highest Annual Salary
1,500,800 LRD
Highest Monthly Salary
125,066 LRD

These are average salaries for an Internal Bank Auditor in Liberia and include benefits such as housing and transport. It's also possible for an Internal Bank Auditor to earn more or less than the average salaries shown above.

Internal Bank Auditor 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 Internal Bank Auditor Salaries in Liberia

So we've looked at the average salaries an Internal Bank Auditor will earn in Liberia. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Internal Bank Auditor can earn between 510,200 LRD and 1,500,800 LRD on average in Liberia. 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 an Internal Bank Auditor in Liberia is 945,400 LRD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 945,400 LRD, and 50% of the population earn more than 945,400 LRD.

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 Internal Bank Auditor salary in Liberia, 25% of the population are earning less than 656,800 LRD while 75% of the population earn more than 656,800 LRD.

75% of the population earn less than 1,175,700 LRD, and 25% of the population earn more than 1,175,700 LRD.

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.

Internal Bank Auditor Salary by Experience Level in Liberia

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 internal bank auditor 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. An Internal Bank Auditor in Liberia that has less than two years of experience can expect to earn somewhere in the region of 580,600 LRD.
  • 2 - 5 Years Experience. With two to five years of experience the average Internal Bank Auditor salary would increase to 778,900 LRD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Internal Bank Auditor, the average salary would be 1,011,300 LRD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 1,224,800 LRD.
  • 15 - 20 Years Experience. An Internal Bank Auditor with 15 to 20 years of experience can earn an average of 1,345,400 LRD.
  • 20+ Years Experience. For an Internal Bank Auditor with more than 20 years, the expected average salary increases to 1,405,700 LRD.

Average Salary by Experience Chart

0-2 Years
580,600 LRD
2-5 Years +34%
778,900 LRD
5-10 Years +30%
1,011,300 LRD
10-15 Years +21%
1,224,800 LRD
15-20 Years +9%
1,345,400 LRD
20+ Years +5%
1,405,700 LRD

Internal Bank Auditor Salary by Education Level in Liberia

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 an Internal Bank Auditor in Liberia 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. An Internal Bank Auditor in Liberia with a bachelor's degree education can earn an average salary of 818,100 LRD.

  • Master's Degree. An Internal Bank Auditor in Liberia with a master's degree education can earn an average salary of 1,134,800 LRD.

Average Salary by Education Chart

Bachelor's Degree
818,100 LRD
Master's Degree +39%
1,134,800 LRD

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 Liberia is around 359,000 to 1,080,000 LRD 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.

Internal Bank Auditor 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 Liberia, a male internal bank auditor will earn an average of 1,053,900 LRD, while a female internal bank auditor will earn around 938,700 LRD.

This means that a male internal bank auditor earns approximately 12% more than a female internal bank auditor for performing the same job.

Average Salary by Gender Chart in Liberia

Male
1,053,900 LRD
Female -12%
938,700 LRD

Internal Bank Auditor Average Pay Raise in Liberia

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 an Internal Bank Auditor in Liberia is around 8% every 28 months.

The national average pay raise across all professions and industries in Liberia 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 an Internal Bank Auditor in Liberia can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Liberia for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Internal Bank Auditor Bonus and Incentive Rates in Liberia

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.

An Internal Bank Auditor is a moderate bonus based job, with 61% of employees reporting at least one bonus in the last 12 months.

39% 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
61%
No Bonus
39%

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 Liberia earn approximately 21% more than private sector employees in the same role.

Public Sector
948,900 LRD
Private Sector -21%
782,500 LRD

Salaries for Jobs Similar to an Internal Bank Auditor

In the table below, we have salary information for jobs that are similar to an Internal Bank Auditor in Liberia.

Job Title Category Salary
AML Analyst Banking 1,306,100 LRD
Assistant Bank Branch Manager Banking 1,172,900 LRD
Assistant Bank Manager Banking 1,500,800 LRD
ATM Manager Banking 1,296,900 LRD
ATM Service Technician Banking 363,000 LRD
Bank Accounts Analyst Banking 533,000 LRD
Bank Accounts Collector Banking 309,800 LRD
Bank Accounts Controller Banking 671,000 LRD
Bank Accounts Executive Banking 1,019,200 LRD
Bank Accounts Manager Banking 1,089,400 LRD
Bank Auditing Manager Banking 1,198,300 LRD
Bank Branch Manager Banking 1,560,800 LRD
Bank Branch Operations Coordinator Banking 725,700 LRD
Bank Clerk Banking 315,700 LRD
Bank Client Service Associate Banking 431,300 LRD
Bank Collector Banking 318,800 LRD
Bank Compliance Specialist Banking 792,900 LRD
Bank Manager Banking 1,846,200 LRD
Bank Operational Risk Manager Banking 1,896,700 LRD
Bank Operations Head Banking 1,811,000 LRD
Bank Operations Officer Banking 732,400 LRD
Bank Operations Specialist Banking 1,179,800 LRD
Bank Process Manager Banking 1,047,900 LRD
Bank Product Manager Banking 1,175,700 LRD
Bank Programme Manager Banking 1,273,300 LRD
Bank Project Manager Banking 1,450,700 LRD
Bank Propositions Manager Banking 1,391,600 LRD
Bank Quantitative Analyst Banking 942,700 LRD
Bank Regional Manager Banking 1,835,700 LRD
Bank Regional Risk Officer Banking 953,200 LRD
Bank Relationship Manager Banking 1,380,400 LRD
Bank Relationship Officer Banking 639,100 LRD
Bank Teller Banking 327,800 LRD
Banker Banking 670,600 LRD
Banking Business Analyst Banking 983,700 LRD
Banking Business Development Officer Banking 589,400 LRD
Banking Business Planning Executive Banking 1,333,900 LRD
Banking Product Manager Banking 1,235,600 LRD
Banking Reference Data Manager Banking 1,057,700 LRD
Banking Risk Analyst Banking 1,003,800 LRD
Banking Technical Analyst Banking 533,100 LRD
Bankruptcy Coordinator Banking 714,300 LRD
Bill and Account Collector Banking 335,800 LRD
Budget Analyst Banking 986,700 LRD
Capital Risk Manager Banking 1,788,300 LRD
Cards Marketing Manager Banking 1,259,300 LRD
Cash Management Manager Banking 1,678,300 LRD
Check Processing Manager Banking 1,273,300 LRD
Commercial Vault Associate Banking 938,100 LRD
Corporate Banker Banking 695,200 LRD
Corporate Dealer Banking 1,025,100 LRD
Credit Analyst Banking 735,500 LRD
Credit and Collections Manager Banking 1,306,100 LRD
Credit Card Fraud Investigator Banking 1,019,200 LRD
Credit Portfolio Manager Banking 1,800,200 LRD
Credit Risk Analyst Banking 1,037,600 LRD
Credit Risk Associate Banking 1,059,800 LRD
Direct Bank Sales Representative Banking 714,600 LRD
Exchange Control Consultant Banking 1,037,000 LRD
Executive Account Analyst Banking 991,000 LRD
Financial Bank Planning Consultant Banking 1,212,800 LRD
Financial Banking Analysis Manager Banking 1,405,700 LRD
Financial Banking Assistant Banking 464,400 LRD
Financial Banking Systems Manager Banking 1,357,900 LRD
Foreign Exchange Manager Banking 1,476,700 LRD
Fraud Analyst Banking 1,043,600 LRD
Fraud Detection Associate Banking 675,200 LRD
Fraud Detection Manager Banking 1,450,700 LRD
Fraud Detection Supervisor Banking 832,000 LRD
Internal Bank Audit Manager Banking 1,811,000 LRD
Internal Private Banker Banking 719,100 LRD
International Banking Manager Banking 1,921,500 LRD
Investment Banking Analyst Banking 1,450,700 LRD
Loan Analyst Banking 926,000 LRD
Loan Area Manager Banking 1,235,600 LRD
Loan Audit Team Leader Banking 1,152,700 LRD
Loan Branch Manager Banking 1,053,900 LRD
Loan Business Development Officer Banking 580,600 LRD
Loan Clerk Banking 345,700 LRD
Loan Collection and Recovery Manager Banking 1,105,600 LRD
Loan Collection Manager Banking 1,196,300 LRD
Loan Collector Banking 309,800 LRD
Loan Examiner Banking 421,400 LRD
Loan Officer Banking 375,200 LRD
Loan Processing Manager Banking 1,058,300 LRD
Loan Processor Banking 450,300 LRD
Loan Quality Assurance Auditor Banking 938,100 LRD
Loan Quality Assurance Manager Banking 1,067,300 LRD
Loan Quality Assurance Representative Banking 724,000 LRD
Loan Review Manager Banking 1,116,700 LRD
Loan Team Leader Banking 1,019,200 LRD
Loans Manager Banking 1,345,400 LRD
Mortgage Advisor Banking 646,600 LRD
Mortgage Collection Manager Banking 1,114,700 LRD
Mortgage Collector Banking 318,800 LRD
Mortgage Credit Analyst Banking 528,500 LRD
Mortgage Credit Manager Banking 1,132,900 LRD
Mortgage Development Manager Banking 1,198,300 LRD
Mortgage Document Reviewer Banking 419,400 LRD
Mortgage Funding Manager Banking 1,259,300 LRD
Mortgage Operations Manager Banking 1,703,200 LRD
Mortgage Payment Processing Clerk Banking 384,200 LRD
Mortgage Processing Manager Banking 1,141,000 LRD
Mortgage Processor Banking 413,900 LRD
Mortgage Quality Assurance Auditor Banking 913,400 LRD
Mortgage Quality Assurance Manager Banking 1,070,600 LRD
Mortgage Servicing Clerk Banking 327,800 LRD
Mortgage Servicing Manager Banking 1,062,500 LRD
Mortgage Underwriter Banking 407,300 LRD
Online Banking Manager Banking 1,668,900 LRD
Payment Processing Clerk Banking 345,700 LRD
Personal Banker Banking 713,900 LRD
Personal Banking Advisor Banking 741,500 LRD
Phone Banker Banking 476,600 LRD
Private Banker Banking 722,100 LRD
Reconciliation and Investigation Specialist Banking 791,200 LRD
Tax Officer Banking 602,700 LRD
Teller Banking 327,300 LRD
Trade Officer Banking 411,400 LRD
Trade Product Manager Banking 1,085,600 LRD
Trader Banking 466,300 LRD
Treasury Operations Officer Banking 832,000 LRD

Salary Comparison by City

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

City Average Salary
Monrovia 1,032,400 LRD

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