Average Loan Collector Salary in Myanmar for 2024

In this article, we will look at the average Loan Collector salary for 2024 in Myanmar 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 Burmese kyat. To keep things simple, we are using the MMK currency code instead of the currency symbol Ks.

How Much Does a Loan Collector Make in Myanmar?

A Loan Collector working in Myanmar will typically earn around 2,281,800 MMK per year, and this can range from the lowest average salary of about 1,162,900 MMK to the highest average salary of 3,503,800 MMK.

Average Annual Salary
2,281,800 MMK
Average Monthly Salary
190,150 MMK

Lowest Annual Salary
1,162,900 MMK
Lowest Monthly Salary
96,908 MMK

Highest Annual Salary
3,503,800 MMK
Highest Monthly Salary
291,983 MMK

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

Loan Collector 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 Collector Salaries in Myanmar

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

Salary ranges

We already know that a Loan Collector can earn between 1,162,900 MMK and 3,503,800 MMK on average in Myanmar. 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 Collector in Myanmar is 2,230,100 MMK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 2,230,100 MMK, and 50% of the population earn more than 2,230,100 MMK.

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 Collector salary in Myanmar, 25% of the population are earning less than 1,524,300 MMK while 75% of the population earn more than 1,524,300 MMK.

75% of the population earn less than 2,807,200 MMK, and 25% of the population earn more than 2,807,200 MMK.

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 Collector Salary by Experience Level in Myanmar

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 collector 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 Collector in Myanmar that has less than two years of experience can expect to earn somewhere in the region of 1,306,100 MMK.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Collector salary would increase to 1,703,200 MMK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Collector, the average salary would be 2,374,400 MMK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 2,868,600 MMK.
  • 15 - 20 Years Experience. A Loan Collector with 15 to 20 years of experience can earn an average of 3,108,200 MMK.
  • 20+ Years Experience. For a Loan Collector with more than 20 years, the expected average salary increases to 3,359,900 MMK.

Average Salary by Experience Chart

0-2 Years
1,306,100 MMK
2-5 Years +31%
1,703,200 MMK
5-10 Years +40%
2,374,400 MMK
10-15 Years +20%
2,868,600 MMK
15-20 Years +9%
3,108,200 MMK
20+ Years +8%
3,359,900 MMK

Loan Collector Salary by Education Level in Myanmar

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 Collector in Myanmar based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Loan Collector in Myanmar with a high school education can earn an average salary of 1,487,200 MMK.

  • Certificate or Diploma. A Loan Collector in Myanmar with a certificate or diploma education can earn an average salary of 2,197,700 MMK.

  • Bachelor's Degree. A Loan Collector in Myanmar with a bachelor's degree education can earn an average salary of 3,373,200 MMK.

Average Salary by Education Chart

High School
1,487,200 MMK
Certificate or Diploma +47%
2,197,700 MMK
Bachelor's Degree +53%
3,373,200 MMK

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 Myanmar is around 2,720,000 to 8,170,000 MMK 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 Collector 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 Myanmar, a male loan collector will earn an average of 2,485,800 MMK, while a female loan collector will earn around 2,086,500 MMK.

This means that a male loan collector earns approximately 19% more than a female loan collector for performing the same job.

Average Salary by Gender Chart in Myanmar

Male
2,485,800 MMK
Female -19%
2,086,500 MMK

Loan Collector Average Pay Raise in Myanmar

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 Collector in Myanmar is around 11% every 16 months.

The national average pay raise across all professions and industries in Myanmar 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 = ( 11 ÷ 16 ) × 12  = 8%

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

Annual Pay Raise by Industry in Myanmar for 2024

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

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 Collector Bonus and Incentive Rates in Myanmar

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 Collector is a low bonus based job, with 25% of employees reporting at least one bonus in the last 12 months.

75% 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 1% to 3%.

Received Bonus
25%
No Bonus
75%

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 Myanmar earn approximately 12% more than private sector employees in the same role.

Public Sector
6,922,100 MMK
Private Sector -12%
6,179,700 MMK

Salaries for Jobs Similar to a Loan Collector

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

Job Title Category Salary
AML Analyst Banking 10,224,200 MMK
Assistant Bank Branch Manager Banking 8,182,600 MMK
Assistant Bank Manager Banking 10,919,400 MMK
ATM Manager Banking 9,684,600 MMK
ATM Service Technician Banking 2,533,800 MMK
Bank Accounts Analyst Banking 3,781,400 MMK
Bank Accounts Collector Banking 2,221,600 MMK
Bank Accounts Controller Banking 4,981,700 MMK
Bank Accounts Executive Banking 7,007,800 MMK
Bank Accounts Manager Banking 8,533,800 MMK
Bank Auditing Manager Banking 8,568,100 MMK
Bank Branch Manager Banking 11,759,800 MMK
Bank Branch Operations Coordinator Banking 5,003,800 MMK
Bank Clerk Banking 2,339,200 MMK
Bank Client Service Associate Banking 3,299,800 MMK
Bank Collector Banking 2,374,400 MMK
Bank Compliance Specialist Banking 6,073,300 MMK
Bank Manager Banking 13,079,500 MMK
Bank Operational Risk Manager Banking 13,199,100 MMK
Bank Operations Head Banking 13,441,600 MMK
Bank Operations Officer Banking 5,423,100 MMK
Bank Operations Specialist Banking 8,614,300 MMK
Bank Process Manager Banking 7,618,900 MMK
Bank Product Manager Banking 8,988,700 MMK
Bank Programme Manager Banking 8,926,700 MMK
Bank Project Manager Banking 10,463,500 MMK
Bank Propositions Manager Banking 9,586,500 MMK
Bank Quantitative Analyst Banking 7,189,800 MMK
Bank Regional Manager Banking 14,280,500 MMK
Bank Regional Risk Officer Banking 7,488,800 MMK
Bank Relationship Manager Banking 9,899,400 MMK
Bank Relationship Officer Banking 4,524,400 MMK
Bank Teller Banking 2,543,000 MMK
Banker Banking 4,726,900 MMK
Banking Business Analyst Banking 7,246,500 MMK
Banking Business Development Officer Banking 4,475,900 MMK
Banking Business Planning Executive Banking 10,537,900 MMK
Banking Product Manager Banking 8,675,200 MMK
Banking Reference Data Manager Banking 7,907,600 MMK
Banking Risk Analyst Banking 6,971,100 MMK
Banking Technical Analyst Banking 3,672,500 MMK
Bankruptcy Coordinator Banking 4,860,800 MMK
Bill and Account Collector Banking 2,508,300 MMK
Budget Analyst Banking 7,081,500 MMK
Capital Risk Manager Banking 12,841,200 MMK
Cards Marketing Manager Banking 8,915,100 MMK
Cash Management Manager Banking 13,079,500 MMK
Check Processing Manager Banking 9,205,400 MMK
Commercial Vault Associate Banking 6,696,900 MMK
Corporate Banker Banking 5,399,900 MMK
Corporate Dealer Banking 7,211,600 MMK
Credit Analyst Banking 5,761,400 MMK
Credit and Collections Manager Banking 9,517,400 MMK
Credit Card Fraud Investigator Banking 7,642,900 MMK
Credit Portfolio Manager Banking 13,679,300 MMK
Credit Risk Analyst Banking 7,618,900 MMK
Credit Risk Associate Banking 7,919,400 MMK
Direct Bank Sales Representative Banking 4,981,700 MMK
Exchange Control Consultant Banking 7,596,200 MMK
Executive Account Analyst Banking 7,259,000 MMK
Financial Bank Planning Consultant Banking 9,504,500 MMK
Financial Banking Analysis Manager Banking 10,297,600 MMK
Financial Banking Assistant Banking 3,503,800 MMK
Financial Banking Systems Manager Banking 9,493,400 MMK
Foreign Exchange Manager Banking 10,656,400 MMK
Fraud Analyst Banking 7,369,700 MMK
Fraud Detection Associate Banking 5,003,800 MMK
Fraud Detection Manager Banking 11,173,600 MMK
Fraud Detection Supervisor Banking 6,347,100 MMK
Internal Bank Audit Manager Banking 13,199,100 MMK
Internal Bank Auditor Banking 6,660,500 MMK
Internal Private Banker Banking 5,305,100 MMK
International Banking Manager Banking 14,760,200 MMK
Investment Banking Analyst Banking 10,141,000 MMK
Loan Analyst Banking 7,309,600 MMK
Loan Area Manager Banking 8,554,100 MMK
Loan Audit Team Leader Banking 8,004,700 MMK
Loan Branch Manager Banking 8,316,900 MMK
Loan Business Development Officer Banking 4,260,400 MMK
Loan Clerk Banking 2,605,500 MMK
Loan Collection and Recovery Manager Banking 8,795,700 MMK
Loan Collection Manager Banking 8,386,300 MMK
Loan Examiner Banking 3,192,300 MMK
Loan Officer Banking 2,748,900 MMK
Loan Processing Manager Banking 7,464,400 MMK
Loan Processor Banking 3,277,900 MMK
Loan Quality Assurance Auditor Banking 6,984,300 MMK
Loan Quality Assurance Manager Banking 8,149,100 MMK
Loan Quality Assurance Representative Banking 5,161,100 MMK
Loan Review Manager Banking 8,172,900 MMK
Loan Team Leader Banking 6,922,100 MMK
Loans Manager Banking 9,493,400 MMK
Mortgage Advisor Banking 5,003,800 MMK
Mortgage Collection Manager Banking 7,993,600 MMK
Mortgage Collector Banking 2,339,200 MMK
Mortgage Credit Analyst Banking 3,610,800 MMK
Mortgage Credit Manager Banking 7,980,700 MMK
Mortgage Development Manager Banking 9,576,900 MMK
Mortgage Document Reviewer Banking 3,094,100 MMK
Mortgage Funding Manager Banking 9,649,800 MMK
Mortgage Operations Manager Banking 12,121,000 MMK
Mortgage Payment Processing Clerk Banking 2,807,200 MMK
Mortgage Processing Manager Banking 8,099,800 MMK
Mortgage Processor Banking 3,335,900 MMK
Mortgage Quality Assurance Auditor Banking 6,911,700 MMK
Mortgage Quality Assurance Manager Banking 8,305,400 MMK
Mortgage Servicing Clerk Banking 2,447,200 MMK
Mortgage Servicing Manager Banking 8,159,800 MMK
Mortgage Underwriter Banking 2,941,000 MMK
Online Banking Manager Banking 11,905,700 MMK
Payment Processing Clerk Banking 2,543,000 MMK
Personal Banker Banking 5,088,900 MMK
Personal Banking Advisor Banking 5,172,800 MMK
Phone Banker Banking 3,481,100 MMK
Private Banker Banking 4,931,400 MMK
Reconciliation and Investigation Specialist Banking 5,698,400 MMK
Tax Officer Banking 4,260,400 MMK
Teller Banking 2,435,600 MMK
Trade Officer Banking 3,013,500 MMK
Trade Product Manager Banking 8,195,200 MMK
Trader Banking 3,601,500 MMK
Treasury Operations Officer Banking 6,322,500 MMK

Salary Comparison by City

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

City Average Salary
Yangon 2,617,900 MMK

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