Average Loan Quality Assurance Auditor Salary in Oman for 2024

In this article, we will look at the average Loan Quality Assurance Auditor salary for 2024 in Oman 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 Omani rial. To keep things simple, we are using the OMR currency code instead of the currency symbol ر.ع..

How Much Does a Loan Quality Assurance Auditor Make in Oman?

A Loan Quality Assurance Auditor working in Oman will typically earn around 22,540 OMR per year, and this can range from the lowest average salary of about 10,080 OMR to the highest average salary of 35,300 OMR.

Average Annual Salary
22,540 OMR
Average Monthly Salary
1,878 OMR

Lowest Annual Salary
10,080 OMR
Lowest Monthly Salary
840 OMR

Highest Annual Salary
35,300 OMR
Highest Monthly Salary
2,941 OMR

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

Loan Quality Assurance Auditor 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 Quality Assurance Auditor Salaries in Oman

So we've looked at the average salaries a Loan Quality Assurance Auditor will earn in Oman. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Loan Quality Assurance Auditor can earn between 10,080 OMR and 35,300 OMR on average in Oman. 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 Quality Assurance Auditor in Oman is 22,540 OMR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 22,540 OMR, and 50% of the population earn more than 22,540 OMR.

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 Quality Assurance Auditor salary in Oman, 25% of the population are earning less than 17,020 OMR while 75% of the population earn more than 17,020 OMR.

75% of the population earn less than 27,480 OMR, and 25% of the population earn more than 27,480 OMR.

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 Quality Assurance Auditor Salary by Experience Level in Oman

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 quality assurance auditor 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 Quality Assurance Auditor in Oman that has less than two years of experience can expect to earn somewhere in the region of 14,540 OMR.
  • 2 - 5 Years Experience. With two to five years of experience the average Loan Quality Assurance Auditor salary would increase to 18,780 OMR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Loan Quality Assurance Auditor, the average salary would be 23,480 OMR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 29,840 OMR.
  • 15 - 20 Years Experience. A Loan Quality Assurance Auditor with 15 to 20 years of experience can earn an average of 30,220 OMR.
  • 20+ Years Experience. For a Loan Quality Assurance Auditor with more than 20 years, the expected average salary increases to 31,980 OMR.

Average Salary by Experience Chart

0-2 Years
14,540 OMR
2-5 Years +32%
18,780 OMR
5-10 Years +34%
23,480 OMR
10-15 Years +19%
29,840 OMR
15-20 Years +8%
30,220 OMR
20+ Years +7%
31,980 OMR

Loan Quality Assurance Auditor Salary by Education Level in Oman

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 Quality Assurance Auditor in Oman 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 Quality Assurance Auditor in Oman with a bachelor's degree education can earn an average salary of 18,900 OMR.

  • Master's Degree. A Loan Quality Assurance Auditor in Oman with a master's degree education can earn an average salary of 31,660 OMR.

Average Salary by Education Chart

Bachelor's Degree
18,900 OMR
Master's Degree +58%
31,660 OMR

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 Oman is around 8,850 to 26,500 OMR 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 Quality Assurance Auditor 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 Oman, a male loan quality assurance auditor will earn an average of 24,840 OMR, while a female loan quality assurance auditor will earn around 23,520 OMR.

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

Average Salary by Gender Chart in Oman

Male
24,840 OMR
Female -6%
23,520 OMR

Loan Quality Assurance Auditor Average Pay Raise in Oman

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 Quality Assurance Auditor in Oman is around 11% every 18 months.

The national average pay raise across all professions and industries in Oman is around 7% every 19 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 ÷ 18 ) × 12  = 7%

What this means is that a Loan Quality Assurance Auditor in Oman can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Oman for 2024

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

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

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Loan Quality Assurance Auditor Bonus and Incentive Rates in Oman

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 Quality Assurance Auditor is a high bonus based job, with 77% of employees reporting at least one bonus in the last 12 months.

23% 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 8%.

Received Bonus
77%
No Bonus
23%

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 Oman earn approximately 5% less than private sector employees in the same role.

Public Sector
19,940 OMR
Private Sector +5%
21,100 OMR

Salaries for Jobs Similar to a Loan Quality Assurance Auditor

In the table below, we have salary information for jobs that are similar to a Loan Quality Assurance Auditor in Oman.

Job Title Category Salary
AML Analyst Banking 31,960 OMR
Assistant Bank Branch Manager Banking 26,280 OMR
Assistant Bank Manager Banking 36,700 OMR
ATM Manager Banking 31,940 OMR
ATM Service Technician Banking 8,960 OMR
Bank Accounts Analyst Banking 13,060 OMR
Bank Accounts Collector Banking 6,280 OMR
Bank Accounts Controller Banking 15,880 OMR
Bank Accounts Executive Banking 22,340 OMR
Bank Accounts Manager Banking 27,300 OMR
Bank Auditing Manager Banking 26,280 OMR
Bank Branch Manager Banking 35,000 OMR
Bank Branch Operations Coordinator Banking 15,300 OMR
Bank Clerk Banking 6,200 OMR
Bank Client Service Associate Banking 9,740 OMR
Bank Collector Banking 5,960 OMR
Bank Compliance Specialist Banking 19,360 OMR
Bank Manager Banking 45,060 OMR
Bank Operational Risk Manager Banking 41,480 OMR
Bank Operations Head Banking 41,820 OMR
Bank Operations Officer Banking 15,300 OMR
Bank Operations Specialist Banking 25,160 OMR
Bank Process Manager Banking 23,360 OMR
Bank Product Manager Banking 30,800 OMR
Bank Programme Manager Banking 31,400 OMR
Bank Project Manager Banking 37,620 OMR
Bank Propositions Manager Banking 31,980 OMR
Bank Quantitative Analyst Banking 21,980 OMR
Bank Regional Manager Banking 45,200 OMR
Bank Regional Risk Officer Banking 23,660 OMR
Bank Relationship Manager Banking 35,300 OMR
Bank Relationship Officer Banking 14,540 OMR
Bank Teller Banking 5,960 OMR
Banker Banking 17,620 OMR
Banking Business Analyst Banking 22,660 OMR
Banking Business Development Officer Banking 14,920 OMR
Banking Business Planning Executive Banking 33,440 OMR
Banking Product Manager Banking 26,400 OMR
Banking Reference Data Manager Banking 23,700 OMR
Banking Risk Analyst Banking 24,820 OMR
Banking Technical Analyst Banking 12,620 OMR
Bankruptcy Coordinator Banking 18,260 OMR
Bill and Account Collector Banking 10,100 OMR
Budget Analyst Banking 22,420 OMR
Capital Risk Manager Banking 45,600 OMR
Cards Marketing Manager Banking 30,840 OMR
Cash Management Manager Banking 40,420 OMR
Check Processing Manager Banking 31,940 OMR
Commercial Vault Associate Banking 23,520 OMR
Corporate Banker Banking 16,880 OMR
Corporate Dealer Banking 22,420 OMR
Credit Analyst Banking 19,640 OMR
Credit and Collections Manager Banking 31,400 OMR
Credit Card Fraud Investigator Banking 20,760 OMR
Credit Portfolio Manager Banking 40,600 OMR
Credit Risk Analyst Banking 23,360 OMR
Credit Risk Associate Banking 23,480 OMR
Direct Bank Sales Representative Banking 17,540 OMR
Exchange Control Consultant Banking 25,680 OMR
Executive Account Analyst Banking 22,660 OMR
Financial Bank Planning Consultant Banking 32,020 OMR
Financial Banking Analysis Manager Banking 34,360 OMR
Financial Banking Assistant Banking 10,220 OMR
Financial Banking Systems Manager Banking 29,640 OMR
Foreign Exchange Manager Banking 35,340 OMR
Fraud Analyst Banking 25,940 OMR
Fraud Detection Associate Banking 17,540 OMR
Fraud Detection Manager Banking 36,940 OMR
Fraud Detection Supervisor Banking 18,280 OMR
Internal Bank Audit Manager Banking 42,320 OMR
Internal Bank Auditor Banking 22,660 OMR
Internal Private Banker Banking 16,400 OMR
International Banking Manager Banking 45,580 OMR
Investment Banking Analyst Banking 35,500 OMR
Loan Analyst Banking 21,980 OMR
Loan Area Manager Banking 27,020 OMR
Loan Audit Team Leader Banking 26,500 OMR
Loan Branch Manager Banking 24,200 OMR
Loan Business Development Officer Banking 14,540 OMR
Loan Clerk Banking 10,100 OMR
Loan Collection and Recovery Manager Banking 26,080 OMR
Loan Collection Manager Banking 29,040 OMR
Loan Collector Banking 6,280 OMR
Loan Examiner Banking 9,140 OMR
Loan Officer Banking 7,800 OMR
Loan Processing Manager Banking 24,200 OMR
Loan Processor Banking 12,020 OMR
Loan Quality Assurance Manager Banking 25,440 OMR
Loan Quality Assurance Representative Banking 16,340 OMR
Loan Review Manager Banking 25,940 OMR
Loan Team Leader Banking 22,340 OMR
Loans Manager Banking 29,160 OMR
Mortgage Advisor Banking 14,820 OMR
Mortgage Collection Manager Banking 26,280 OMR
Mortgage Collector Banking 5,960 OMR
Mortgage Credit Analyst Banking 12,180 OMR
Mortgage Credit Manager Banking 25,720 OMR
Mortgage Development Manager Banking 30,800 OMR
Mortgage Document Reviewer Banking 8,100 OMR
Mortgage Funding Manager Banking 31,080 OMR
Mortgage Operations Manager Banking 41,180 OMR
Mortgage Payment Processing Clerk Banking 9,360 OMR
Mortgage Processing Manager Banking 24,720 OMR
Mortgage Processor Banking 9,140 OMR
Mortgage Quality Assurance Auditor Banking 19,940 OMR
Mortgage Quality Assurance Manager Banking 25,440 OMR
Mortgage Servicing Clerk Banking 6,440 OMR
Mortgage Servicing Manager Banking 26,020 OMR
Mortgage Underwriter Banking 8,100 OMR
Online Banking Manager Banking 40,140 OMR
Payment Processing Clerk Banking 10,100 OMR
Personal Banker Banking 15,760 OMR
Personal Banking Advisor Banking 17,560 OMR
Phone Banker Banking 12,300 OMR
Private Banker Banking 18,260 OMR
Reconciliation and Investigation Specialist Banking 20,300 OMR
Tax Officer Banking 12,620 OMR
Teller Banking 6,280 OMR
Trade Officer Banking 8,560 OMR
Trade Product Manager Banking 24,720 OMR
Trader Banking 12,520 OMR
Treasury Operations Officer Banking 21,020 OMR

Salary Comparison by City

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

City Average Salary
Muscat 27,040 OMR
Salalah 25,220 OMR

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