Average Loan Branch Manager Salary in South Africa for 2024

In this article, we will look at the average Loan Branch Manager salary for 2024 in South Africa 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 South African rand. To keep things simple, we are using the ZAR currency code instead of the currency symbol R.

How Much Does a Loan Branch Manager Make in South Africa?

A Loan Branch Manager working in South Africa will typically earn around 485,200 ZAR per year, and this can range from the lowest average salary of about 238,900 ZAR to the highest average salary of 756,700 ZAR.

Average Annual Salary
485,200 ZAR
Average Monthly Salary
40,433 ZAR

Lowest Annual Salary
238,900 ZAR
Lowest Monthly Salary
19,908 ZAR

Highest Annual Salary
756,700 ZAR
Highest Monthly Salary
63,058 ZAR

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

Loan Branch 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 Loan Branch Manager Salaries in South Africa

So we've looked at the average salaries a Loan Branch Manager will earn in South Africa. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Loan Branch Manager can earn between 238,900 ZAR and 756,700 ZAR on average in South Africa. 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 Branch Manager in South Africa is 496,100 ZAR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 496,100 ZAR, and 50% of the population earn more than 496,100 ZAR.

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 Branch Manager salary in South Africa, 25% of the population are earning less than 330,700 ZAR while 75% of the population earn more than 330,700 ZAR.

75% of the population earn less than 639,900 ZAR, and 25% of the population earn more than 639,900 ZAR.

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 Branch Manager Salary by Experience Level in South Africa

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 branch 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 Loan Branch Manager in South Africa that has less than two years of experience can expect to earn somewhere in the region of 283,400 ZAR.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Branch Manager salary would increase to 365,400 ZAR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Branch Manager, the average salary would be 502,200 ZAR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 620,300 ZAR.
  • 15 - 20 Years Experience. A Loan Branch Manager with 15 to 20 years of experience can earn an average of 664,500 ZAR.
  • 20+ Years Experience. For a Loan Branch Manager with more than 20 years, the expected average salary increases to 709,600 ZAR.

Average Salary by Experience Chart

0-2 Years
283,400 ZAR
2-5 Years +29%
365,400 ZAR
5-10 Years +38%
502,200 ZAR
10-15 Years +24%
620,300 ZAR
15-20 Years +7%
664,500 ZAR
20+ Years +7%
709,600 ZAR

Loan Branch Manager Salary by Education Level in South Africa

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 Branch Manager in South Africa 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 Branch Manager in South Africa with a bachelor's degree education can earn an average salary of 351,200 ZAR.

  • Master's Degree. A Loan Branch Manager in South Africa with a master's degree education can earn an average salary of 565,100 ZAR.

Average Salary by Education Chart

Bachelor's Degree
351,200 ZAR
Master's Degree +60%
565,100 ZAR

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 South Africa is around 156,000 to 467,000 ZAR 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 Branch 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 South Africa, a male loan branch manager will earn an average of 502,200 ZAR, while a female loan branch manager will earn around 466,300 ZAR.

This means that a male loan branch manager earns approximately 8% more than a female loan branch manager for performing the same job.

Average Salary by Gender Chart in South Africa

Male
502,200 ZAR
Female -8%
466,300 ZAR

Loan Branch Manager Average Pay Raise in South Africa

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 Branch Manager in South Africa is around 12% every 17 months.

The national average pay raise across all professions and industries in South Africa is around 8% every 18 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 = ( 12 ÷ 17 ) × 12  = 8%

What this means is that a Loan Branch Manager in South Africa can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in South Africa for 2024

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

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%

Loan Branch Manager Bonus and Incentive Rates in South Africa

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 Branch Manager is a high bonus based job, with 81% of employees reporting at least one bonus in the last 12 months.

19% 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
81%
No Bonus
19%

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 South Africa earn approximately 7% more than private sector employees in the same role.

Public Sector
386,400 ZAR
Private Sector -7%
361,500 ZAR

Salaries for Jobs Similar to a Loan Branch Manager

In the table below, we have salary information for jobs that are similar to a Loan Branch Manager in South Africa.

Job Title Category Salary
AML Analyst Banking 626,800 ZAR
Assistant Bank Branch Manager Banking 539,800 ZAR
Assistant Bank Manager Banking 707,600 ZAR
ATM Manager Banking 596,800 ZAR
ATM Service Technician Banking 163,800 ZAR
Bank Accounts Analyst Banking 221,500 ZAR
Bank Accounts Collector Banking 137,400 ZAR
Bank Accounts Controller Banking 301,700 ZAR
Bank Accounts Executive Banking 450,300 ZAR
Bank Accounts Manager Banking 524,400 ZAR
Bank Auditing Manager Banking 533,100 ZAR
Bank Branch Manager Banking 735,500 ZAR
Bank Branch Operations Coordinator Banking 322,600 ZAR
Bank Clerk Banking 129,000 ZAR
Bank Client Service Associate Banking 196,800 ZAR
Bank Collector Banking 148,300 ZAR
Bank Compliance Specialist Banking 351,900 ZAR
Bank Manager Banking 832,300 ZAR
Bank Operational Risk Manager Banking 823,900 ZAR
Bank Operations Head Banking 849,200 ZAR
Bank Operations Officer Banking 339,100 ZAR
Bank Operations Specialist Banking 520,900 ZAR
Bank Process Manager Banking 466,300 ZAR
Bank Product Manager Banking 539,700 ZAR
Bank Programme Manager Banking 587,800 ZAR
Bank Project Manager Banking 643,800 ZAR
Bank Propositions Manager Banking 582,700 ZAR
Bank Quantitative Analyst Banking 425,100 ZAR
Bank Regional Manager Banking 830,500 ZAR
Bank Regional Risk Officer Banking 413,900 ZAR
Bank Relationship Manager Banking 608,500 ZAR
Bank Relationship Officer Banking 272,800 ZAR
Bank Teller Banking 138,200 ZAR
Banker Banking 296,000 ZAR
Banking Business Analyst Banking 433,800 ZAR
Banking Business Development Officer Banking 254,800 ZAR
Banking Business Planning Executive Banking 589,400 ZAR
Banking Product Manager Banking 535,900 ZAR
Banking Reference Data Manager Banking 489,600 ZAR
Banking Risk Analyst Banking 428,400 ZAR
Banking Technical Analyst Banking 228,500 ZAR
Bankruptcy Coordinator Banking 312,400 ZAR
Bill and Account Collector Banking 150,000 ZAR
Budget Analyst Banking 444,300 ZAR
Capital Risk Manager Banking 790,600 ZAR
Cards Marketing Manager Banking 524,300 ZAR
Cash Management Manager Banking 713,900 ZAR
Check Processing Manager Banking 528,600 ZAR
Commercial Vault Associate Banking 407,100 ZAR
Corporate Banker Banking 294,700 ZAR
Corporate Dealer Banking 426,700 ZAR
Credit Analyst Banking 317,700 ZAR
Credit and Collections Manager Banking 553,400 ZAR
Credit Card Fraud Investigator Banking 424,900 ZAR
Credit Portfolio Manager Banking 814,100 ZAR
Credit Risk Analyst Banking 478,000 ZAR
Credit Risk Associate Banking 460,500 ZAR
Direct Bank Sales Representative Banking 292,000 ZAR
Exchange Control Consultant Banking 442,200 ZAR
Executive Account Analyst Banking 413,900 ZAR
Financial Bank Planning Consultant Banking 524,300 ZAR
Financial Banking Analysis Manager Banking 606,400 ZAR
Financial Banking Assistant Banking 195,200 ZAR
Financial Banking Systems Manager Banking 563,000 ZAR
Foreign Exchange Manager Banking 603,400 ZAR
Fraud Analyst Banking 464,400 ZAR
Fraud Detection Associate Banking 297,000 ZAR
Fraud Detection Manager Banking 681,500 ZAR
Fraud Detection Supervisor Banking 362,200 ZAR
Internal Bank Audit Manager Banking 757,300 ZAR
Internal Bank Auditor Banking 401,300 ZAR
Internal Private Banker Banking 307,400 ZAR
International Banking Manager Banking 849,200 ZAR
Investment Banking Analyst Banking 592,600 ZAR
Loan Analyst Banking 428,400 ZAR
Loan Area Manager Banking 524,700 ZAR
Loan Audit Team Leader Banking 491,000 ZAR
Loan Business Development Officer Banking 263,100 ZAR
Loan Clerk Banking 152,300 ZAR
Loan Collection and Recovery Manager Banking 522,700 ZAR
Loan Collection Manager Banking 518,900 ZAR
Loan Collector Banking 142,300 ZAR
Loan Examiner Banking 190,500 ZAR
Loan Officer Banking 159,400 ZAR
Loan Processing Manager Banking 467,700 ZAR
Loan Processor Banking 196,800 ZAR
Loan Quality Assurance Auditor Banking 440,200 ZAR
Loan Quality Assurance Manager Banking 491,000 ZAR
Loan Quality Assurance Representative Banking 327,800 ZAR
Loan Review Manager Banking 496,100 ZAR
Loan Team Leader Banking 442,300 ZAR
Loans Manager Banking 559,000 ZAR
Mortgage Advisor Banking 305,600 ZAR
Mortgage Collection Manager Banking 516,100 ZAR
Mortgage Collector Banking 142,300 ZAR
Mortgage Credit Analyst Banking 233,600 ZAR
Mortgage Credit Manager Banking 492,400 ZAR
Mortgage Development Manager Banking 562,600 ZAR
Mortgage Document Reviewer Banking 192,600 ZAR
Mortgage Funding Manager Banking 572,200 ZAR
Mortgage Operations Manager Banking 767,500 ZAR
Mortgage Payment Processing Clerk Banking 169,000 ZAR
Mortgage Processing Manager Banking 504,500 ZAR
Mortgage Processor Banking 197,600 ZAR
Mortgage Quality Assurance Auditor Banking 437,900 ZAR
Mortgage Quality Assurance Manager Banking 501,400 ZAR
Mortgage Servicing Clerk Banking 152,300 ZAR
Mortgage Servicing Manager Banking 489,500 ZAR
Mortgage Underwriter Banking 189,300 ZAR
Online Banking Manager Banking 724,300 ZAR
Payment Processing Clerk Banking 148,300 ZAR
Personal Banker Banking 305,600 ZAR
Personal Banking Advisor Banking 301,600 ZAR
Phone Banker Banking 197,600 ZAR
Private Banker Banking 301,300 ZAR
Reconciliation and Investigation Specialist Banking 365,400 ZAR
Tax Officer Banking 253,400 ZAR
Teller Banking 143,200 ZAR
Trade Officer Banking 181,600 ZAR
Trade Product Manager Banking 522,700 ZAR
Trader Banking 217,900 ZAR
Treasury Operations Officer Banking 362,200 ZAR

Salary Comparison by City

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

City Average Salary
Bloemfontein 448,500 ZAR
Cape Town 528,600 ZAR
Durban 485,300 ZAR
Johannesburg 492,700 ZAR
Port Elizabeth 453,200 ZAR
Pretoria 466,300 ZAR

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