Average Internal Private Banker Salary in British Virgin Islands for 2024

In this article, we will look at the average Internal Private Banker salary for 2024 in British Virgin Islands 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 United States dollar. To keep things simple, we are using the USD currency code instead of the currency symbol $.

How Much Does an Internal Private Banker Make in British Virgin Islands?

An Internal Private Banker working in British Virgin Islands will typically earn around 18,780 USD per year, and this can range from the lowest average salary of about 8,560 USD to the highest average salary of 26,660 USD.

Average Annual Salary
18,780 USD
Average Monthly Salary
1,565 USD

Lowest Annual Salary
8,560 USD
Lowest Monthly Salary
713 USD

Highest Annual Salary
26,660 USD
Highest Monthly Salary
2,221 USD

These are average salaries for an Internal Private Banker in British Virgin Islands and include benefits such as housing and transport. It's also possible for an Internal Private Banker to earn more or less than the average salaries shown above.

Internal Private Banker 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 Private Banker Salaries in British Virgin Islands

So we've looked at the average salaries an Internal Private Banker will earn in British Virgin Islands. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that an Internal Private Banker can earn between 8,560 USD and 26,660 USD on average in British Virgin Islands. 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 Private Banker in British Virgin Islands is 17,560 USD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 17,560 USD, and 50% of the population earn more than 17,560 USD.

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 Private Banker salary in British Virgin Islands, 25% of the population are earning less than 12,180 USD while 75% of the population earn more than 12,180 USD.

75% of the population earn less than 21,560 USD, and 25% of the population earn more than 21,560 USD.

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 Private Banker Salary by Experience Level in British Virgin Islands

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 private banker 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 Private Banker in British Virgin Islands that has less than two years of experience can expect to earn somewhere in the region of 9,960 USD.
  • 2 - 5 Years Experience. With two to five years of experience the average Internal Private Banker salary would increase to 13,560 USD.
  • 5 - 10 Years Experience. From five to ten years of experience as an Internal Private Banker, the average salary would be 16,980 USD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 22,420 USD.
  • 15 - 20 Years Experience. An Internal Private Banker with 15 to 20 years of experience can earn an average of 23,260 USD.
  • 20+ Years Experience. For an Internal Private Banker with more than 20 years, the expected average salary increases to 27,380 USD.

Average Salary by Experience Chart

0-2 Years
9,960 USD
2-5 Years +34%
13,560 USD
5-10 Years +30%
16,980 USD
10-15 Years +21%
22,420 USD
15-20 Years +9%
23,260 USD
20+ Years +5%
27,380 USD

Internal Private Banker Salary by Education Level in British Virgin Islands

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 Private Banker in British Virgin Islands 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 Private Banker in British Virgin Islands with a bachelor's degree education can earn an average salary of 15,880 USD.

  • Master's Degree. An Internal Private Banker in British Virgin Islands with a master's degree education can earn an average salary of 20,940 USD.

Average Salary by Education Chart

Bachelor's Degree
15,880 USD
Master's Degree +39%
20,940 USD

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 British Virgin Islands is around 9,160 to 27,500 USD 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 Private Banker 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 British Virgin Islands, a male internal private banker will earn an average of 18,280 USD, while a female internal private banker will earn around 17,560 USD.

This means that a male internal private banker earns approximately 4% more than a female internal private banker for performing the same job.

Average Salary by Gender Chart in British Virgin Islands

Male
18,280 USD
Female -4%
17,560 USD

Internal Private Banker Average Pay Raise in British Virgin Islands

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 Private Banker in British Virgin Islands is around 7% every 28 months.

The national average pay raise across all professions and industries in British Virgin Islands 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 = ( 7 ÷ 28 ) × 12  = 3%

What this means is that an Internal Private Banker in British Virgin Islands can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in British Virgin Islands for 2024

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

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%

Internal Private Banker Bonus and Incentive Rates in British Virgin Islands

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 Private Banker is a low bonus based job, with 35% of employees reporting at least one bonus in the last 12 months.

65% 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 5%.

Received Bonus
35%
No Bonus
65%

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 British Virgin Islands earn approximately 11% more than private sector employees in the same role.

Public Sector
23,660 USD
Private Sector -11%
21,380 USD

Salaries for Jobs Similar to an Internal Private Banker

In the table below, we have salary information for jobs that are similar to an Internal Private Banker in British Virgin Islands.

Job Title Category Salary
AML Analyst Banking 33,980 USD
Assistant Bank Branch Manager Banking 29,840 USD
Assistant Bank Manager Banking 36,020 USD
ATM Manager Banking 32,960 USD
ATM Service Technician Banking 9,440 USD
Bank Accounts Analyst Banking 12,120 USD
Bank Accounts Collector Banking 7,300 USD
Bank Accounts Controller Banking 18,780 USD
Bank Accounts Executive Banking 25,220 USD
Bank Accounts Manager Banking 27,020 USD
Bank Auditing Manager Banking 29,540 USD
Bank Branch Manager Banking 41,180 USD
Bank Branch Operations Coordinator Banking 17,560 USD
Bank Clerk Banking 5,960 USD
Bank Client Service Associate Banking 9,740 USD
Bank Collector Banking 8,420 USD
Bank Compliance Specialist Banking 20,000 USD
Bank Manager Banking 47,760 USD
Bank Operational Risk Manager Banking 47,120 USD
Bank Operations Head Banking 48,920 USD
Bank Operations Officer Banking 18,900 USD
Bank Operations Specialist Banking 32,020 USD
Bank Process Manager Banking 24,200 USD
Bank Product Manager Banking 27,560 USD
Bank Programme Manager Banking 31,380 USD
Bank Project Manager Banking 38,180 USD
Bank Propositions Manager Banking 33,440 USD
Bank Quantitative Analyst Banking 21,300 USD
Bank Regional Manager Banking 49,560 USD
Bank Regional Risk Officer Banking 23,480 USD
Bank Relationship Manager Banking 34,960 USD
Bank Relationship Officer Banking 17,100 USD
Bank Teller Banking 9,020 USD
Banker Banking 14,140 USD
Banking Business Analyst Banking 24,800 USD
Banking Business Development Officer Banking 13,100 USD
Banking Business Planning Executive Banking 34,120 USD
Banking Product Manager Banking 31,660 USD
Banking Reference Data Manager Banking 26,080 USD
Banking Risk Analyst Banking 24,840 USD
Banking Technical Analyst Banking 11,360 USD
Bankruptcy Coordinator Banking 15,300 USD
Bill and Account Collector Banking 8,780 USD
Budget Analyst Banking 23,260 USD
Capital Risk Manager Banking 46,280 USD
Cards Marketing Manager Banking 30,700 USD
Cash Management Manager Banking 45,060 USD
Check Processing Manager Banking 29,640 USD
Commercial Vault Associate Banking 23,260 USD
Corporate Banker Banking 19,200 USD
Corporate Dealer Banking 24,720 USD
Credit Analyst Banking 17,760 USD
Credit and Collections Manager Banking 31,520 USD
Credit Card Fraud Investigator Banking 26,080 USD
Credit Portfolio Manager Banking 45,000 USD
Credit Risk Analyst Banking 29,540 USD
Credit Risk Associate Banking 25,720 USD
Direct Bank Sales Representative Banking 16,720 USD
Exchange Control Consultant Banking 26,020 USD
Executive Account Analyst Banking 22,660 USD
Financial Bank Planning Consultant Banking 29,640 USD
Financial Banking Analysis Manager Banking 35,300 USD
Financial Banking Assistant Banking 12,520 USD
Financial Banking Systems Manager Banking 35,300 USD
Foreign Exchange Manager Banking 33,520 USD
Fraud Analyst Banking 26,020 USD
Fraud Detection Associate Banking 16,140 USD
Fraud Detection Manager Banking 38,680 USD
Fraud Detection Supervisor Banking 23,380 USD
Internal Bank Audit Manager Banking 46,400 USD
Internal Bank Auditor Banking 22,540 USD
International Banking Manager Banking 49,300 USD
Investment Banking Analyst Banking 34,960 USD
Loan Analyst Banking 23,480 USD
Loan Area Manager Banking 28,720 USD
Loan Audit Team Leader Banking 25,720 USD
Loan Branch Manager Banking 29,040 USD
Loan Business Development Officer Banking 14,540 USD
Loan Clerk Banking 10,100 USD
Loan Collection and Recovery Manager Banking 31,080 USD
Loan Collection Manager Banking 30,800 USD
Loan Collector Banking 7,300 USD
Loan Examiner Banking 12,300 USD
Loan Officer Banking 7,800 USD
Loan Processing Manager Banking 23,360 USD
Loan Processor Banking 12,300 USD
Loan Quality Assurance Auditor Banking 27,020 USD
Loan Quality Assurance Manager Banking 27,300 USD
Loan Quality Assurance Representative Banking 19,640 USD
Loan Review Manager Banking 26,860 USD
Loan Team Leader Banking 22,400 USD
Loans Manager Banking 33,440 USD
Mortgage Advisor Banking 17,560 USD
Mortgage Collection Manager Banking 28,820 USD
Mortgage Collector Banking 7,300 USD
Mortgage Credit Analyst Banking 13,900 USD
Mortgage Credit Manager Banking 25,160 USD
Mortgage Development Manager Banking 31,380 USD
Mortgage Document Reviewer Banking 12,840 USD
Mortgage Funding Manager Banking 31,400 USD
Mortgage Operations Manager Banking 39,420 USD
Mortgage Payment Processing Clerk Banking 9,440 USD
Mortgage Processing Manager Banking 26,280 USD
Mortgage Processor Banking 10,000 USD
Mortgage Quality Assurance Auditor Banking 25,940 USD
Mortgage Quality Assurance Manager Banking 25,440 USD
Mortgage Servicing Clerk Banking 8,780 USD
Mortgage Servicing Manager Banking 26,660 USD
Mortgage Underwriter Banking 12,020 USD
Online Banking Manager Banking 44,140 USD
Payment Processing Clerk Banking 8,780 USD
Personal Banker Banking 19,220 USD
Personal Banking Advisor Banking 16,140 USD
Phone Banker Banking 12,180 USD
Private Banker Banking 15,920 USD
Reconciliation and Investigation Specialist Banking 21,540 USD
Tax Officer Banking 14,200 USD
Teller Banking 10,100 USD
Trade Officer Banking 9,140 USD
Trade Product Manager Banking 30,800 USD
Trader Banking 12,520 USD
Treasury Operations Officer Banking 21,640 USD

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