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.
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.
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.
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 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
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
|Certificate or Diploma||+57%||
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
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.
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%.
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.
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.
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.
Link To or Reference This Page
We spend a lot of time collecting, cleaning, merging, and formatting the data that is shown on the site to be as useful to you as possible.
If you found the data or information on this page useful in your research, please use the tool below to properly cite or reference World Salaries as the source. We appreciate your support!
"Average Loan Officer Salary in Croatia for 2023". World Salaries. Accessed on January 26, 2023. https://worldsalaries.com/average-loan-officer-salary-in-croatia/.
"Average Loan Officer Salary in Croatia for 2023". World Salaries, https://worldsalaries.com/average-loan-officer-salary-in-croatia/. Accessed 26 January, 2023
Average Loan Officer Salary in Croatia for 2023. World Salaries. Retrieved from https://worldsalaries.com/average-loan-officer-salary-in-croatia/.