Average Loan Officer Salary in Croatia for 2023

In this article, we will look at the average Loan Officer salary for 2023 in Croatia 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 Croatian kuna. To keep things simple, we are using the HRK currency code instead of the currency symbol kn.

How Much Does a Loan Officer Make in Croatia?

A Loan Officer working in Croatia will typically earn around 75,980 HRK per year, and this can range from the lowest average salary of about 34,280 HRK to the highest average salary of 123,400 HRK.

Average Annual Salary
75,980 HRK
Average Monthly Salary
6,331 HRK

Lowest Annual Salary
34,280 HRK
Lowest Monthly Salary
2,856 HRK

Highest Annual Salary
123,400 HRK
Highest Monthly Salary
10,283 HRK

These are average salaries for a Loan Officer in Croatia 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 Croatia

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

Salary ranges

We already know that a Loan Officer can earn between 34,280 HRK and 123,400 HRK on average in Croatia. 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 Croatia is 83,420 HRK. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 83,420 HRK, and 50% of the population earn more than 83,420 HRK.

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 Croatia, 25% of the population are earning less than 53,660 HRK while 75% of the population earn more than 53,660 HRK.

75% of the population earn less than 111,240 HRK, and 25% of the population earn more than 111,240 HRK.

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 Croatia

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 Croatia that has less than two years of experience can expect to earn somewhere in the region of 41,980 HRK.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Officer salary would increase to 52,820 HRK.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Officer, the average salary would be 78,480 HRK.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 96,680 HRK.
  • 15 - 20 Years Experience. A Loan Officer with 15 to 20 years of experience can earn an average of 105,620 HRK.
  • 20+ Years Experience. For a Loan Officer with more than 20 years, the expected average salary increases to 115,560 HRK.

Average Salary by Experience Chart

0-2 Years
41,980 HRK
2-5 Years +34%
52,820 HRK
5-10 Years +48%
78,480 HRK
10-15 Years +22%
96,680 HRK
15-20 Years +9%
105,620 HRK
20+ Years +8%
115,560 HRK

Loan Officer Salary by Education Level in Croatia

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 Croatia 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 Croatia with a high school education can earn an average salary of 45,620 HRK.

  • Certificate or Diploma. A Loan Officer in Croatia with a certificate or diploma education can earn an average salary of 71,660 HRK.

  • Bachelor's Degree. A Loan Officer in Croatia with a bachelor's degree education can earn an average salary of 119,700 HRK.

Average Salary by Education Chart

High School
45,620 HRK
Certificate or Diploma +57%
71,660 HRK
Bachelor's Degree +68%
119,700 HRK

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 Croatia is around 74,200 to 223,000 HRK 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 Croatia, a male loan officer will earn an average of 77,860 HRK, while a female loan officer will earn around 73,120 HRK.

This means that a male loan officer earns approximately 6% more than a female loan officer for performing the same job.

Average Salary by Gender Chart in Croatia

Male
77,860 HRK
Female -6%
73,120 HRK

Loan Officer Average Pay Raise in Croatia

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 Croatia is around 12% every 15 months.

The national average pay raise across all professions and industries in Croatia is around 9% every 17 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 ÷ 15 ) × 12  = 10%

What this means is that a Loan Officer in Croatia can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in Croatia for 2023

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

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

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Loan Officer Bonus and Incentive Rates in Croatia

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 moderate bonus based job, with 57% of employees reporting at least one bonus in the last 12 months.

43% 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 2% to 7%.

Received Bonus
57%
No Bonus
43%

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 Croatia earn approximately 9% more than private sector employees in the same role.

Public Sector
187,500 HRK
Private Sector -9%
172,200 HRK

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 Croatia.

Job Title Category Salary
AML Analyst Banking 263,200 HRK
Assistant Bank Branch Manager Banking 240,500 HRK
Assistant Bank Manager Banking 311,700 HRK
ATM Manager Banking 253,400 HRK
ATM Service Technician Banking 71,280 HRK
Bank Accounts Analyst Banking 97,300 HRK
Bank Accounts Collector Banking 61,760 HRK
Bank Accounts Controller Banking 127,700 HRK
Bank Accounts Executive Banking 197,600 HRK
Bank Accounts Manager Banking 217,900 HRK
Bank Auditing Manager Banking 225,300 HRK
Bank Branch Manager Banking 314,500 HRK
Bank Branch Operations Coordinator Banking 142,300 HRK
Bank Clerk Banking 60,480 HRK
Bank Client Service Associate Banking 86,420 HRK
Bank Collector Banking 62,060 HRK
Bank Compliance Specialist Banking 169,000 HRK
Bank Manager Banking 362,200 HRK
Bank Operational Risk Manager Banking 384,200 HRK
Bank Operations Head Banking 366,200 HRK
Bank Operations Officer Banking 143,200 HRK
Bank Operations Specialist Banking 239,000 HRK
Bank Process Manager Banking 210,500 HRK
Bank Product Manager Banking 246,200 HRK
Bank Programme Manager Banking 263,900 HRK
Bank Project Manager Banking 297,000 HRK
Bank Propositions Manager Banking 267,100 HRK
Bank Quantitative Analyst Banking 190,500 HRK
Bank Regional Manager Banking 403,100 HRK
Bank Regional Risk Officer Banking 192,000 HRK
Bank Relationship Manager Banking 283,400 HRK
Bank Relationship Officer Banking 123,400 HRK
Bank Teller Banking 64,040 HRK
Banker Banking 125,700 HRK
Banking Business Analyst Banking 195,200 HRK
Banking Business Development Officer Banking 123,400 HRK
Banking Business Planning Executive Banking 273,000 HRK
Banking Product Manager Banking 249,600 HRK
Banking Reference Data Manager Banking 204,000 HRK
Banking Risk Analyst Banking 195,200 HRK
Banking Technical Analyst Banking 102,960 HRK
Bankruptcy Coordinator Banking 136,200 HRK
Bill and Account Collector Banking 66,100 HRK
Budget Analyst Banking 192,000 HRK
Capital Risk Manager Banking 367,900 HRK
Cards Marketing Manager Banking 233,600 HRK
Cash Management Manager Banking 325,600 HRK
Check Processing Manager Banking 254,700 HRK
Commercial Vault Associate Banking 187,500 HRK
Corporate Banker Banking 136,100 HRK
Corporate Dealer Banking 192,000 HRK
Credit Analyst Banking 148,300 HRK
Credit and Collections Manager Banking 268,900 HRK
Credit Card Fraud Investigator Banking 195,200 HRK
Credit Portfolio Manager Banking 365,400 HRK
Credit Risk Analyst Banking 225,300 HRK
Credit Risk Associate Banking 201,100 HRK
Direct Bank Sales Representative Banking 143,200 HRK
Exchange Control Consultant Banking 210,500 HRK
Executive Account Analyst Banking 196,800 HRK
Financial Bank Planning Consultant Banking 239,300 HRK
Financial Banking Analysis Manager Banking 299,500 HRK
Financial Banking Assistant Banking 93,660 HRK
Financial Banking Systems Manager Banking 249,600 HRK
Foreign Exchange Manager Banking 282,500 HRK
Fraud Analyst Banking 197,600 HRK
Fraud Detection Associate Banking 136,100 HRK
Fraud Detection Manager Banking 311,700 HRK
Fraud Detection Supervisor Banking 172,200 HRK
Internal Bank Audit Manager Banking 361,600 HRK
Internal Bank Auditor Banking 183,600 HRK
Internal Private Banker Banking 148,300 HRK
International Banking Manager Banking 407,300 HRK
Investment Banking Analyst Banking 288,700 HRK
Loan Analyst Banking 189,300 HRK
Loan Area Manager Banking 239,300 HRK
Loan Audit Team Leader Banking 225,300 HRK
Loan Branch Manager Banking 212,500 HRK
Loan Business Development Officer Banking 119,900 HRK
Loan Clerk Banking 66,120 HRK
Loan Collection and Recovery Manager Banking 232,900 HRK
Loan Collection Manager Banking 240,500 HRK
Loan Collector Banking 59,660 HRK
Loan Examiner Banking 86,460 HRK
Loan Processing Manager Banking 200,000 HRK
Loan Processor Banking 89,120 HRK
Loan Quality Assurance Auditor Banking 190,500 HRK
Loan Quality Assurance Manager Banking 222,300 HRK
Loan Quality Assurance Representative Banking 142,300 HRK
Loan Review Manager Banking 225,300 HRK
Loan Team Leader Banking 191,600 HRK
Loans Manager Banking 247,800 HRK
Mortgage Advisor Banking 138,200 HRK
Mortgage Collection Manager Banking 225,300 HRK
Mortgage Collector Banking 66,440 HRK
Mortgage Credit Analyst Banking 102,160 HRK
Mortgage Credit Manager Banking 207,800 HRK
Mortgage Development Manager Banking 251,500 HRK
Mortgage Document Reviewer Banking 80,840 HRK
Mortgage Funding Manager Banking 254,700 HRK
Mortgage Operations Manager Banking 330,700 HRK
Mortgage Payment Processing Clerk Banking 78,420 HRK
Mortgage Processing Manager Banking 214,000 HRK
Mortgage Processor Banking 87,760 HRK
Mortgage Quality Assurance Auditor Banking 192,000 HRK
Mortgage Quality Assurance Manager Banking 228,000 HRK
Mortgage Servicing Clerk Banking 66,480 HRK
Mortgage Servicing Manager Banking 218,900 HRK
Mortgage Underwriter Banking 82,160 HRK
Online Banking Manager Banking 330,900 HRK
Payment Processing Clerk Banking 72,780 HRK
Personal Banker Banking 137,400 HRK
Personal Banking Advisor Banking 148,300 HRK
Phone Banker Banking 96,220 HRK
Private Banker Banking 138,200 HRK
Reconciliation and Investigation Specialist Banking 159,100 HRK
Tax Officer Banking 112,420 HRK
Teller Banking 63,500 HRK
Trade Officer Banking 82,920 HRK
Trade Product Manager Banking 225,300 HRK
Trader Banking 97,900 HRK
Treasury Operations Officer Banking 172,400 HRK

Salary Comparison by City

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

City Average Salary
Zadar 80,580 HRK
Zagreb 79,280 HRK

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