Average Loan Officer Salary in Brunei for 2024

In this article, we will look at the average Loan Officer salary for 2024 in Brunei 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 Brunei dollar. To keep things simple, we are using the BND currency code instead of the currency symbol $.

How Much Does a Loan Officer Make in Brunei?

A Loan Officer working in Brunei will typically earn around 17,100 BND per year, and this can range from the lowest average salary of about 5,960 BND to the highest average salary of 23,080 BND.

Average Annual Salary
17,100 BND
Average Monthly Salary
1,425 BND

Lowest Annual Salary
5,960 BND
Lowest Monthly Salary
496 BND

Highest Annual Salary
23,080 BND
Highest Monthly Salary
1,923 BND

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

Loan Officer 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 Officer Salaries in Brunei

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

Salary ranges

We already know that a Loan Officer can earn between 5,960 BND and 23,080 BND on average in Brunei. 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 Officer in Brunei is 16,400 BND. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 16,400 BND, and 50% of the population earn more than 16,400 BND.

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 Officer salary in Brunei, 25% of the population are earning less than 8,880 BND while 75% of the population earn more than 8,880 BND.

75% of the population earn less than 21,640 BND, and 25% of the population earn more than 21,640 BND.

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 Officer Salary by Experience Level in Brunei

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 officer 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 Officer in Brunei that has less than two years of experience can expect to earn somewhere in the region of 9,360 BND.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Officer salary would increase to 10,980 BND.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Officer, the average salary would be 17,620 BND.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 21,540 BND.
  • 15 - 20 Years Experience. A Loan Officer with 15 to 20 years of experience can earn an average of 21,560 BND.
  • 20+ Years Experience. For a Loan Officer with more than 20 years, the expected average salary increases to 23,500 BND.

Average Salary by Experience Chart

0-2 Years
9,360 BND
2-5 Years +42%
10,980 BND
5-10 Years +31%
17,620 BND
10-15 Years +23%
21,540 BND
15-20 Years +6%
21,560 BND
20+ Years +10%
23,500 BND

Loan Officer Salary by Education Level in Brunei

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 Officer in Brunei 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 Officer in Brunei with a high school education can earn an average salary of 10,220 BND.

  • Certificate or Diploma. A Loan Officer in Brunei with a certificate or diploma education can earn an average salary of 15,760 BND.

  • Bachelor's Degree. A Loan Officer in Brunei with a bachelor's degree education can earn an average salary of 19,980 BND.

Average Salary by Education Chart

High School
10,220 BND
Certificate or Diploma +47%
15,760 BND
Bachelor's Degree +34%
19,980 BND

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 Brunei is around 16,100 to 48,200 BND 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 Officer 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 Brunei, a male loan officer will earn an average of 18,260 BND, while a female loan officer will earn around 14,540 BND.

This means that a male loan officer earns approximately 26% more than a female loan officer for performing the same job.

Average Salary by Gender Chart in Brunei

Male
18,260 BND
Female -26%
14,540 BND

Loan Officer Average Pay Raise in Brunei

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 Officer in Brunei is around 8% every 26 months.

The national average pay raise across all professions and industries in Brunei is around 5% every 28 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 ÷ 26 ) × 12  = 4%

What this means is that a Loan Officer in Brunei can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Brunei for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Loan Officer Bonus and Incentive Rates in Brunei

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 Officer is a low bonus based job, with 38% of employees reporting at least one bonus in the last 12 months.

62% 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 6%.

Received Bonus
38%
No Bonus
62%

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 Brunei earn approximately 6% more than private sector employees in the same role.

Public Sector
38,620 BND
Private Sector -6%
36,580 BND

Salaries for Jobs Similar to a Loan Officer

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

Job Title Category Salary
AML Analyst Banking 57,360 BND
Assistant Bank Branch Manager Banking 52,460 BND
Assistant Bank Manager Banking 69,240 BND
ATM Manager Banking 60,400 BND
ATM Service Technician Banking 17,020 BND
Bank Accounts Analyst Banking 23,480 BND
Bank Accounts Collector Banking 14,620 BND
Bank Accounts Controller Banking 27,560 BND
Bank Accounts Executive Banking 44,540 BND
Bank Accounts Manager Banking 49,360 BND
Bank Auditing Manager Banking 49,200 BND
Bank Branch Manager Banking 66,260 BND
Bank Branch Operations Coordinator Banking 33,120 BND
Bank Clerk Banking 13,900 BND
Bank Client Service Associate Banking 20,300 BND
Bank Collector Banking 14,200 BND
Bank Compliance Specialist Banking 36,700 BND
Bank Manager Banking 80,180 BND
Bank Operational Risk Manager Banking 81,880 BND
Bank Operations Head Banking 83,760 BND
Bank Operations Officer Banking 35,300 BND
Bank Operations Specialist Banking 50,340 BND
Bank Process Manager Banking 46,980 BND
Bank Product Manager Banking 54,700 BND
Bank Programme Manager Banking 55,020 BND
Bank Project Manager Banking 62,460 BND
Bank Propositions Manager Banking 57,900 BND
Bank Quantitative Analyst Banking 41,660 BND
Bank Regional Manager Banking 88,580 BND
Bank Regional Risk Officer Banking 46,720 BND
Bank Relationship Manager Banking 58,000 BND
Bank Relationship Officer Banking 29,540 BND
Bank Teller Banking 15,880 BND
Banker Banking 32,020 BND
Banking Business Analyst Banking 45,060 BND
Banking Business Development Officer Banking 27,300 BND
Banking Business Planning Executive Banking 57,820 BND
Banking Product Manager Banking 53,380 BND
Banking Reference Data Manager Banking 47,400 BND
Banking Risk Analyst Banking 41,180 BND
Banking Technical Analyst Banking 21,980 BND
Bankruptcy Coordinator Banking 31,380 BND
Bill and Account Collector Banking 17,260 BND
Budget Analyst Banking 44,800 BND
Capital Risk Manager Banking 78,960 BND
Cards Marketing Manager Banking 55,580 BND
Cash Management Manager Banking 74,300 BND
Check Processing Manager Banking 59,480 BND
Commercial Vault Associate Banking 43,340 BND
Corporate Banker Banking 31,340 BND
Corporate Dealer Banking 43,260 BND
Credit Analyst Banking 33,980 BND
Credit and Collections Manager Banking 58,200 BND
Credit Card Fraud Investigator Banking 44,540 BND
Credit Portfolio Manager Banking 78,120 BND
Credit Risk Analyst Banking 45,580 BND
Credit Risk Associate Banking 48,160 BND
Direct Bank Sales Representative Banking 31,960 BND
Exchange Control Consultant Banking 44,800 BND
Executive Account Analyst Banking 43,360 BND
Financial Bank Planning Consultant Banking 56,640 BND
Financial Banking Analysis Manager Banking 64,040 BND
Financial Banking Assistant Banking 21,020 BND
Financial Banking Systems Manager Banking 57,320 BND
Foreign Exchange Manager Banking 63,700 BND
Fraud Analyst Banking 48,820 BND
Fraud Detection Associate Banking 33,120 BND
Fraud Detection Manager Banking 64,300 BND
Fraud Detection Supervisor Banking 35,000 BND
Internal Bank Audit Manager Banking 80,340 BND
Internal Bank Auditor Banking 38,620 BND
Internal Private Banker Banking 33,440 BND
International Banking Manager Banking 88,580 BND
Investment Banking Analyst Banking 66,020 BND
Loan Analyst Banking 44,300 BND
Loan Area Manager Banking 50,340 BND
Loan Audit Team Leader Banking 45,600 BND
Loan Branch Manager Banking 46,880 BND
Loan Business Development Officer Banking 26,500 BND
Loan Clerk Banking 14,660 BND
Loan Collection and Recovery Manager Banking 53,660 BND
Loan Collection Manager Banking 51,400 BND
Loan Collector Banking 13,960 BND
Loan Examiner Banking 20,120 BND
Loan Processing Manager Banking 45,720 BND
Loan Processor Banking 20,300 BND
Loan Quality Assurance Auditor Banking 41,480 BND
Loan Quality Assurance Manager Banking 48,940 BND
Loan Quality Assurance Representative Banking 31,940 BND
Loan Review Manager Banking 47,400 BND
Loan Team Leader Banking 45,580 BND
Loans Manager Banking 61,180 BND
Mortgage Advisor Banking 29,840 BND
Mortgage Collection Manager Banking 48,760 BND
Mortgage Collector Banking 12,580 BND
Mortgage Credit Analyst Banking 23,520 BND
Mortgage Credit Manager Banking 48,140 BND
Mortgage Development Manager Banking 54,280 BND
Mortgage Document Reviewer Banking 19,860 BND
Mortgage Funding Manager Banking 53,160 BND
Mortgage Operations Manager Banking 78,940 BND
Mortgage Payment Processing Clerk Banking 14,140 BND
Mortgage Processing Manager Banking 48,760 BND
Mortgage Processor Banking 19,160 BND
Mortgage Quality Assurance Auditor Banking 44,180 BND
Mortgage Quality Assurance Manager Banking 49,560 BND
Mortgage Servicing Clerk Banking 14,920 BND
Mortgage Servicing Manager Banking 46,040 BND
Mortgage Underwriter Banking 15,920 BND
Online Banking Manager Banking 74,300 BND
Payment Processing Clerk Banking 14,920 BND
Personal Banker Banking 29,640 BND
Personal Banking Advisor Banking 33,960 BND
Phone Banker Banking 21,020 BND
Private Banker Banking 31,400 BND
Reconciliation and Investigation Specialist Banking 34,540 BND
Tax Officer Banking 26,780 BND
Teller Banking 14,200 BND
Trade Officer Banking 16,340 BND
Trade Product Manager Banking 49,200 BND
Trader Banking 23,520 BND
Treasury Operations Officer Banking 35,420 BND

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