Average Loan Analyst Salary in Greenland for 2024

In this article, we will look at the average Loan Analyst salary for 2024 in Greenland 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 krone. To keep things simple, we are using the DKK currency code instead of the currency symbol kr..

How Much Does a Loan Analyst Make in Greenland?

A Loan Analyst working in Greenland will typically earn around 344,600 DKK per year, and this can range from the lowest average salary of about 183,700 DKK to the highest average salary of 525,700 DKK.

Average Annual Salary
344,600 DKK
Average Monthly Salary
28,716 DKK

Lowest Annual Salary
183,700 DKK
Lowest Monthly Salary
15,308 DKK

Highest Annual Salary
525,700 DKK
Highest Monthly Salary
43,808 DKK

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

Loan Analyst 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 Loan Analyst Salaries in Greenland

So we've looked at the average salaries a Loan Analyst will earn in Greenland. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Loan Analyst can earn between 183,700 DKK and 525,700 DKK on average in Greenland. 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 Loan Analyst in Greenland is 325,600 DKK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 325,600 DKK, and 50% of the population earn more than 325,600 DKK.

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 Loan Analyst salary in Greenland, 25% of the population are earning less than 228,000 DKK while 75% of the population earn more than 228,000 DKK.

75% of the population earn less than 399,900 DKK, and 25% of the population earn more than 399,900 DKK.

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.

Loan Analyst Salary by Experience Level in Greenland

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 loan analyst 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 Loan Analyst in Greenland that has less than two years of experience can expect to earn somewhere in the region of 209,500 DKK.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Analyst salary would increase to 259,100 DKK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Analyst, the average salary would be 367,900 DKK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 426,700 DKK.
  • 15 - 20 Years Experience. A Loan Analyst with 15 to 20 years of experience can earn an average of 472,100 DKK.
  • 20+ Years Experience. For a Loan Analyst with more than 20 years, the expected average salary increases to 498,000 DKK.

Average Salary by Experience Chart

0-2 Years
209,500 DKK
2-5 Years +23%
259,100 DKK
5-10 Years +42%
367,900 DKK
10-15 Years +17%
426,700 DKK
15-20 Years +10%
472,100 DKK
20+ Years +6%
498,000 DKK

Loan Analyst Salary by Education Level in Greenland

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 Loan Analyst in Greenland 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 Loan Analyst in Greenland with a bachelor's degree education can earn an average salary of 238,900 DKK.

  • Master's Degree. A Loan Analyst in Greenland with a master's degree education can earn an average salary of 460,500 DKK.

Average Salary by Education Chart

Bachelor's Degree
238,900 DKK
Master's Degree +93%
460,500 DKK

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 Greenland is around 141,000 to 424,000 DKK 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.

Loan Analyst 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 Greenland, a male loan analyst will earn an average of 365,400 DKK, while a female loan analyst will earn around 318,800 DKK.

This means that a male loan analyst earns approximately 15% more than a female loan analyst for performing the same job.

Average Salary by Gender Chart in Greenland

Male
365,400 DKK
Female -15%
318,800 DKK

Loan Analyst Average Pay Raise in Greenland

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 Loan Analyst in Greenland is around 8% every 28 months.

The national average pay raise across all professions and industries in Greenland 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 a Loan Analyst in Greenland can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Greenland for 2024

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

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%

Loan Analyst Bonus and Incentive Rates in Greenland

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 Loan Analyst is a low bonus based job, with 34% of employees reporting at least one bonus in the last 12 months.

66% 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
34%
No Bonus
66%

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 Greenland earn approximately 20% more than private sector employees in the same role.

Public Sector
372,600 DKK
Private Sector -20%
309,800 DKK

Salaries for Jobs Similar to a Loan Analyst

In the table below, we have salary information for jobs that are similar to a Loan Analyst in Greenland.

Job Title Category Salary
AML Analyst Banking 492,700 DKK
Assistant Bank Branch Manager Banking 421,400 DKK
Assistant Bank Manager Banking 548,500 DKK
ATM Manager Banking 454,900 DKK
ATM Service Technician Banking 137,400 DKK
Bank Accounts Analyst Banking 196,800 DKK
Bank Accounts Collector Banking 114,900 DKK
Bank Accounts Controller Banking 246,500 DKK
Bank Accounts Executive Banking 362,200 DKK
Bank Accounts Manager Banking 414,000 DKK
Bank Auditing Manager Banking 433,400 DKK
Bank Branch Manager Banking 581,000 DKK
Bank Branch Operations Coordinator Banking 257,700 DKK
Bank Clerk Banking 111,700 DKK
Bank Client Service Associate Banking 152,000 DKK
Bank Collector Banking 112,420 DKK
Bank Compliance Specialist Banking 297,000 DKK
Bank Manager Banking 693,100 DKK
Bank Operational Risk Manager Banking 701,400 DKK
Bank Operations Head Banking 727,100 DKK
Bank Operations Officer Banking 267,100 DKK
Bank Operations Specialist Banking 425,100 DKK
Bank Process Manager Banking 394,300 DKK
Bank Product Manager Banking 457,300 DKK
Bank Programme Manager Banking 459,700 DKK
Bank Project Manager Banking 537,300 DKK
Bank Propositions Manager Banking 483,400 DKK
Bank Quantitative Analyst Banking 332,100 DKK
Bank Regional Manager Banking 705,500 DKK
Bank Regional Risk Officer Banking 344,600 DKK
Bank Relationship Manager Banking 510,000 DKK
Bank Relationship Officer Banking 232,400 DKK
Bank Teller Banking 124,400 DKK
Banker Banking 239,000 DKK
Banking Business Analyst Banking 361,500 DKK
Banking Business Development Officer Banking 232,900 DKK
Banking Business Planning Executive Banking 510,200 DKK
Banking Product Manager Banking 459,700 DKK
Banking Reference Data Manager Banking 371,100 DKK
Banking Risk Analyst Banking 351,900 DKK
Banking Technical Analyst Banking 194,600 DKK
Bankruptcy Coordinator Banking 251,500 DKK
Bill and Account Collector Banking 125,700 DKK
Budget Analyst Banking 340,400 DKK
Capital Risk Manager Banking 659,200 DKK
Cards Marketing Manager Banking 462,300 DKK
Cash Management Manager Banking 639,100 DKK
Check Processing Manager Banking 464,900 DKK
Commercial Vault Associate Banking 362,200 DKK
Corporate Banker Banking 263,900 DKK
Corporate Dealer Banking 353,600 DKK
Credit Analyst Banking 266,000 DKK
Credit and Collections Manager Banking 504,400 DKK
Credit Card Fraud Investigator Banking 381,800 DKK
Credit Portfolio Manager Banking 660,500 DKK
Credit Risk Analyst Banking 412,000 DKK
Credit Risk Associate Banking 384,500 DKK
Direct Bank Sales Representative Banking 258,400 DKK
Exchange Control Consultant Banking 384,500 DKK
Executive Account Analyst Banking 335,100 DKK
Financial Bank Planning Consultant Banking 437,900 DKK
Financial Banking Analysis Manager Banking 519,300 DKK
Financial Banking Assistant Banking 164,200 DKK
Financial Banking Systems Manager Banking 464,900 DKK
Foreign Exchange Manager Banking 541,700 DKK
Fraud Analyst Banking 369,300 DKK
Fraud Detection Associate Banking 265,000 DKK
Fraud Detection Manager Banking 539,800 DKK
Fraud Detection Supervisor Banking 315,700 DKK
Internal Bank Audit Manager Banking 638,700 DKK
Internal Bank Auditor Banking 332,100 DKK
Internal Private Banker Banking 258,400 DKK
International Banking Manager Banking 695,400 DKK
Investment Banking Analyst Banking 524,700 DKK
Loan Area Manager Banking 430,500 DKK
Loan Audit Team Leader Banking 406,300 DKK
Loan Branch Manager Banking 394,800 DKK
Loan Business Development Officer Banking 208,600 DKK
Loan Clerk Banking 119,700 DKK
Loan Collection and Recovery Manager Banking 437,300 DKK
Loan Collection Manager Banking 445,100 DKK
Loan Collector Banking 117,380 DKK
Loan Examiner Banking 154,700 DKK
Loan Officer Banking 138,200 DKK
Loan Processing Manager Banking 376,800 DKK
Loan Processor Banking 154,700 DKK
Loan Quality Assurance Auditor Banking 378,300 DKK
Loan Quality Assurance Manager Banking 413,900 DKK
Loan Quality Assurance Representative Banking 273,300 DKK
Loan Review Manager Banking 406,300 DKK
Loan Team Leader Banking 357,300 DKK
Loans Manager Banking 492,400 DKK
Mortgage Advisor Banking 239,300 DKK
Mortgage Collection Manager Banking 397,900 DKK
Mortgage Collector Banking 119,900 DKK
Mortgage Credit Analyst Banking 194,600 DKK
Mortgage Credit Manager Banking 403,100 DKK
Mortgage Development Manager Banking 454,900 DKK
Mortgage Document Reviewer Banking 152,000 DKK
Mortgage Funding Manager Banking 447,300 DKK
Mortgage Operations Manager Banking 615,000 DKK
Mortgage Payment Processing Clerk Banking 134,600 DKK
Mortgage Processing Manager Banking 389,200 DKK
Mortgage Processor Banking 168,100 DKK
Mortgage Quality Assurance Auditor Banking 340,400 DKK
Mortgage Quality Assurance Manager Banking 420,800 DKK
Mortgage Servicing Clerk Banking 125,700 DKK
Mortgage Servicing Manager Banking 396,300 DKK
Mortgage Underwriter Banking 157,600 DKK
Online Banking Manager Banking 642,800 DKK
Payment Processing Clerk Banking 128,500 DKK
Personal Banker Banking 249,600 DKK
Personal Banking Advisor Banking 267,100 DKK
Phone Banker Banking 167,100 DKK
Private Banker Banking 259,100 DKK
Reconciliation and Investigation Specialist Banking 301,300 DKK
Tax Officer Banking 218,900 DKK
Teller Banking 115,600 DKK
Trade Officer Banking 143,200 DKK
Trade Product Manager Banking 401,300 DKK
Trader Banking 183,700 DKK
Treasury Operations Officer Banking 327,800 DKK

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