Average Loan Collection Manager Salary in Armenia for 2024

In this article, we will look at the average Loan Collection Manager salary for 2024 in Armenia 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 Armenian dram. To keep things simple, we are using the AMD currency code instead of the currency symbol ึ.

How Much Does a Loan Collection Manager Make in Armenia?

A Loan Collection Manager working in Armenia will typically earn around 12,958,200 AMD per year, and this can range from the lowest average salary of about 6,216,700 AMD to the highest average salary of 20,281,100 AMD.

Average Annual Salary
12,958,200 AMD
Average Monthly Salary
1,079,850 AMD

Lowest Annual Salary
6,216,700 AMD
Lowest Monthly Salary
518,058 AMD

Highest Annual Salary
20,281,100 AMD
Highest Monthly Salary
1,690,091 AMD

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

Loan Collection 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 Collection Manager Salaries in Armenia

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

Salary ranges

We already know that a Loan Collection Manager can earn between 6,216,700 AMD and 20,281,100 AMD on average in Armenia. 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 Collection Manager in Armenia is 13,441,600 AMD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 13,441,600 AMD, and 50% of the population earn more than 13,441,600 AMD.

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 Collection Manager salary in Armenia, 25% of the population are earning less than 8,845,500 AMD while 75% of the population earn more than 8,845,500 AMD.

75% of the population earn less than 17,519,700 AMD, and 25% of the population earn more than 17,519,700 AMD.

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 Collection Manager Salary by Experience Level in Armenia

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 collection 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 Collection Manager in Armenia that has less than two years of experience can expect to earn somewhere in the region of 7,271,300 AMD.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Collection Manager salary would increase to 10,297,600 AMD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Collection Manager, the average salary would be 13,561,900 AMD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 16,679,800 AMD.
  • 15 - 20 Years Experience. A Loan Collection Manager with 15 to 20 years of experience can earn an average of 17,758,500 AMD.
  • 20+ Years Experience. For a Loan Collection Manager with more than 20 years, the expected average salary increases to 19,439,300 AMD.

Average Salary by Experience Chart

0-2 Years
7,271,300 AMD
2-5 Years +42%
10,297,600 AMD
5-10 Years +31%
13,561,900 AMD
10-15 Years +23%
16,679,800 AMD
15-20 Years +6%
17,758,500 AMD
20+ Years +10%
19,439,300 AMD

Loan Collection Manager Salary by Education Level in Armenia

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 Collection Manager in Armenia 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 Collection Manager in Armenia with a bachelor's degree education can earn an average salary of 11,425,300 AMD.

  • Master's Degree. A Loan Collection Manager in Armenia with a master's degree education can earn an average salary of 16,320,700 AMD.

Average Salary by Education Chart

Bachelor's Degree
11,425,300 AMD
Master's Degree +43%
16,320,700 AMD

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 Armenia is around 3,880,000 to 11,600,000 AMD 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 Collection 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 Armenia, a male loan collection manager will earn an average of 13,561,900 AMD, while a female loan collection manager will earn around 12,600,600 AMD.

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

Average Salary by Gender Chart in Armenia

Male
13,561,900 AMD
Female -8%
12,600,600 AMD

Loan Collection Manager Average Pay Raise in Armenia

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 Collection Manager in Armenia is around 8% every 29 months.

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

Annual Pay Raise by Industry in Armenia for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Loan Collection Manager Bonus and Incentive Rates in Armenia

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 Collection Manager is a moderate bonus based job, with 65% of employees reporting at least one bonus in the last 12 months.

35% 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
65%
No Bonus
35%

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 Armenia earn approximately 18% more than private sector employees in the same role.

Public Sector
9,863,700 AMD
Private Sector -18%
8,377,500 AMD

Salaries for Jobs Similar to a Loan Collection Manager

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

Job Title Category Salary
AML Analyst Banking 14,158,800 AMD
Assistant Bank Branch Manager Banking 13,079,500 AMD
Assistant Bank Manager Banking 16,079,800 AMD
ATM Manager Banking 13,679,300 AMD
ATM Service Technician Banking 3,829,500 AMD
Bank Accounts Analyst Banking 5,376,200 AMD
Bank Accounts Collector Banking 3,539,100 AMD
Bank Accounts Controller Banking 7,404,700 AMD
Bank Accounts Executive Banking 11,113,100 AMD
Bank Accounts Manager Banking 11,772,100 AMD
Bank Auditing Manager Banking 12,481,200 AMD
Bank Branch Manager Banking 17,519,700 AMD
Bank Branch Operations Coordinator Banking 7,930,200 AMD
Bank Clerk Banking 3,288,400 AMD
Bank Client Service Associate Banking 4,762,300 AMD
Bank Collector Banking 3,359,900 AMD
Bank Compliance Specialist Banking 9,121,500 AMD
Bank Manager Banking 20,400,600 AMD
Bank Operational Risk Manager Banking 20,400,600 AMD
Bank Operations Head Banking 20,281,100 AMD
Bank Operations Officer Banking 8,123,400 AMD
Bank Operations Specialist Banking 12,841,200 AMD
Bank Process Manager Banking 10,861,800 AMD
Bank Product Manager Banking 13,079,500 AMD
Bank Programme Manager Banking 14,158,800 AMD
Bank Project Manager Banking 16,679,800 AMD
Bank Propositions Manager Banking 14,038,300 AMD
Bank Quantitative Analyst Banking 10,391,200 AMD
Bank Regional Manager Banking 21,361,700 AMD
Bank Regional Risk Officer Banking 10,824,400 AMD
Bank Relationship Manager Banking 15,838,200 AMD
Bank Relationship Officer Banking 7,164,900 AMD
Bank Teller Banking 3,503,800 AMD
Banker Banking 6,947,800 AMD
Banking Business Analyst Banking 10,716,600 AMD
Banking Business Development Officer Banking 6,360,600 AMD
Banking Business Planning Executive Banking 14,519,400 AMD
Banking Product Manager Banking 13,319,300 AMD
Banking Reference Data Manager Banking 11,207,800 AMD
Banking Risk Analyst Banking 10,199,600 AMD
Banking Technical Analyst Banking 5,686,100 AMD
Bankruptcy Coordinator Banking 7,715,800 AMD
Bill and Account Collector Banking 3,672,500 AMD
Budget Analyst Banking 10,849,200 AMD
Capital Risk Manager Banking 20,518,900 AMD
Cards Marketing Manager Banking 12,721,300 AMD
Cash Management Manager Banking 18,001,100 AMD
Check Processing Manager Banking 13,441,600 AMD
Commercial Vault Associate Banking 10,128,600 AMD
Corporate Banker Banking 7,416,400 AMD
Corporate Dealer Banking 10,870,100 AMD
Credit Analyst Banking 8,339,300 AMD
Credit and Collections Manager Banking 14,639,900 AMD
Credit Card Fraud Investigator Banking 11,341,600 AMD
Credit Portfolio Manager Banking 18,840,100 AMD
Credit Risk Analyst Banking 11,543,100 AMD
Credit Risk Associate Banking 10,894,900 AMD
Direct Bank Sales Representative Banking 7,860,600 AMD
Exchange Control Consultant Banking 11,076,200 AMD
Executive Account Analyst Banking 10,499,200 AMD
Financial Bank Planning Consultant Banking 13,798,900 AMD
Financial Banking Analysis Manager Banking 15,118,700 AMD
Financial Banking Assistant Banking 4,943,500 AMD
Financial Banking Systems Manager Banking 14,280,500 AMD
Foreign Exchange Manager Banking 15,480,300 AMD
Fraud Analyst Banking 10,835,000 AMD
Fraud Detection Associate Banking 7,750,400 AMD
Fraud Detection Manager Banking 17,159,700 AMD
Fraud Detection Supervisor Banking 9,456,600 AMD
Internal Bank Audit Manager Banking 20,159,800 AMD
Internal Bank Auditor Banking 9,804,400 AMD
Internal Private Banker Banking 7,309,600 AMD
International Banking Manager Banking 20,999,200 AMD
Investment Banking Analyst Banking 15,960,700 AMD
Loan Analyst Banking 10,321,700 AMD
Loan Area Manager Banking 12,481,200 AMD
Loan Audit Team Leader Banking 11,724,400 AMD
Loan Branch Manager Banking 11,734,300 AMD
Loan Business Development Officer Banking 6,395,900 AMD
Loan Clerk Banking 3,781,400 AMD
Loan Collection and Recovery Manager Banking 13,079,500 AMD
Loan Collector Banking 3,601,500 AMD
Loan Examiner Banking 4,391,800 AMD
Loan Officer Banking 3,996,300 AMD
Loan Processing Manager Banking 10,978,600 AMD
Loan Processor Banking 4,633,100 AMD
Loan Quality Assurance Auditor Banking 10,537,900 AMD
Loan Quality Assurance Manager Banking 11,856,900 AMD
Loan Quality Assurance Representative Banking 7,993,600 AMD
Loan Review Manager Banking 12,239,700 AMD
Loan Team Leader Banking 11,014,300 AMD
Loans Manager Banking 13,561,900 AMD
Mortgage Advisor Banking 7,655,900 AMD
Mortgage Collection Manager Banking 11,794,200 AMD
Mortgage Collector Banking 3,335,900 AMD
Mortgage Credit Analyst Banking 5,471,700 AMD
Mortgage Credit Manager Banking 11,638,300 AMD
Mortgage Development Manager Banking 13,441,600 AMD
Mortgage Document Reviewer Banking 4,642,200 AMD
Mortgage Funding Manager Banking 13,919,600 AMD
Mortgage Operations Manager Banking 17,758,500 AMD
Mortgage Payment Processing Clerk Banking 3,970,700 AMD
Mortgage Processing Manager Banking 12,481,200 AMD
Mortgage Processor Banking 4,943,500 AMD
Mortgage Quality Assurance Auditor Banking 10,403,600 AMD
Mortgage Quality Assurance Manager Banking 11,998,600 AMD
Mortgage Servicing Clerk Banking 3,490,200 AMD
Mortgage Servicing Manager Banking 11,232,800 AMD
Mortgage Underwriter Banking 4,548,600 AMD
Online Banking Manager Banking 18,001,100 AMD
Payment Processing Clerk Banking 3,718,600 AMD
Personal Banker Banking 7,642,900 AMD
Personal Banking Advisor Banking 8,159,800 AMD
Phone Banker Banking 5,315,900 AMD
Private Banker Banking 7,655,900 AMD
Reconciliation and Investigation Specialist Banking 8,795,700 AMD
Tax Officer Banking 6,073,300 AMD
Teller Banking 3,733,300 AMD
Trade Officer Banking 4,260,400 AMD
Trade Product Manager Banking 12,361,500 AMD
Trader Banking 5,221,800 AMD
Treasury Operations Officer Banking 9,001,900 AMD

Salary Comparison by City

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

City Average Salary
Yerevan 15,238,200 AMD

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