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Banking Average Salaries in New Zealand 2024

How much money does a person working in Banking make in New Zealand?


Average Yearly Salary
106,000 NZD
( 8,870 NZD monthly)

LOW
33,300
NZD
AVERAGE
106,000
NZD
HIGH
217,000
NZD
All salary figures displayed here are per year except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Banking in New Zealand typically earns around 106,000 NZD. Salaries range from 33,300 NZD (lowest average) to 217,000 NZD (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Banking domain in New Zealand exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Banking
AML Analyst142,000 NZD
Assistant Bank Branch Manager132,000 NZD
Assistant Bank Manager169,000 NZD
ATM Manager136,000 NZD
ATM Service Technician39,700 NZD
Bank Accounts Analyst55,600 NZD
Bank Accounts Collector35,400 NZD
Bank Accounts Controller75,200 NZD
Bank Accounts Executive107,000 NZD
Bank Accounts Manager118,000 NZD
Bank Auditing Manager122,000 NZD
Bank Branch Manager170,000 NZD
Bank Branch Operations Coordinator76,300 NZD
Bank Clerk32,100 NZD
Bank Client Service Associate46,600 NZD
Bank Collector33,300 NZD
Bank Compliance Specialist93,000 NZD
Bank Manager211,000 NZD
Bank Operational Risk Manager201,000 NZD
Bank Operations Head213,000 NZD
Bank Operations Officer83,900 NZD
Bank Operations Specialist126,000 NZD
Bank Process Manager111,000 NZD
Bank Product Manager 130,000 NZD
Bank Programme Manager144,000 NZD
Bank Project Manager167,000 NZD
Bank Propositions Manager151,000 NZD
Bank Quantitative Analyst101,000 NZD
Bank Regional Manager204,000 NZD
Bank Regional Risk Officer104,000 NZD
Bank Relationship Manager158,000 NZD
Bank Relationship Officer68,100 NZD
Bank Sustainability Analyst116,000 NZD
Bank Teller34,600 NZD
Banker73,800 NZD
Banking Business Analyst107,000 NZD
Banking Business Development Officer66,600 NZD
Banking Business Planning Executive151,000 NZD
Banking Data Analyst125,000 NZD
Banking Product Manager132,000 NZD
Banking Reference Data Manager111,000 NZD
Banking Regulatory Compliance Officer123,000 NZD
Banking Risk Analyst103,000 NZD
Banking Technical Analyst53,900 NZD
Bankruptcy Coordinator71,500 NZD
Bill and Account Collector37,400 NZD
Blockchain Analyst87,100 NZD
Blockchain Architect107,000 NZD
Blockchain Auditor90,600 NZD
Blockchain Compliance Analyst98,800 NZD
Blockchain Consultant99,000 NZD
Blockchain Trade Facilitator83,600 NZD
Budget Analyst104,000 NZD
Capital Risk Manager205,000 NZD
Cards Marketing Manager131,000 NZD
Cash Management Manager178,000 NZD
Check Processing Manager139,000 NZD
Chief Blockchain Officer116,000 NZD
Commercial Vault Associate104,000 NZD
Corporate Banker73,300 NZD
Corporate Dealer106,000 NZD
Credit Analyst80,400 NZD
Credit and Collections Manager148,000 NZD
Credit Card Fraud Investigator108,000 NZD
Credit Portfolio Manager191,000 NZD
Credit Risk Analyst117,000 NZD
Credit Risk Associate116,000 NZD
Cryptocurrency Accountant67,100 NZD
Cryptocurrency Adviser124,000 NZD
Cryptocurrency Analyst98,600 NZD
Cryptocurrency Compliance Manager117,000 NZD
Cryptocurrency Trader111,000 NZD
Digital Banking Manager144,000 NZD
Digital Currency Analyst103,000 NZD
Direct Bank Sales Representative78,300 NZD
Exchange Control Consultant107,000 NZD
Executive Account Analyst100,000 NZD
Financial Bank Planning Consultant133,000 NZD
Financial Banking Analysis Manager149,000 NZD
Financial Banking Assistant50,900 NZD
Financial Banking Systems Manager139,000 NZD
Foreign Exchange Manager157,000 NZD
Fraud Analyst115,000 NZD
Fraud Detection Associate74,400 NZD
Fraud Detection Manager166,000 NZD
Fraud Detection Supervisor94,900 NZD
Internal Bank Audit Manager200,000 NZD
Internal Bank Auditor102,000 NZD
Internal Private Banker75,200 NZD
International Banking Manager205,000 NZD
Investment Banking Analyst160,000 NZD
Loan Analyst109,000 NZD
Loan Area Manager126,000 NZD
Loan Audit Team Leader118,000 NZD
Loan Branch Manager124,000 NZD
Loan Business Development Officer63,800 NZD
Loan Clerk35,600 NZD
Loan Collection and Recovery Manager122,000 NZD
Loan Collection Manager127,000 NZD
Loan Collector35,100 NZD
Loan Examiner44,700 NZD
Loan Officer38,700 NZD
Loan Processing Manager117,000 NZD
Loan Processor46,600 NZD
Loan Quality Assurance Auditor111,000 NZD
Loan Quality Assurance Manager118,000 NZD
Loan Quality Assurance Representative82,800 NZD
Loan Review Manager120,000 NZD
Loan Team Leader102,000 NZD
Loans Manager140,000 NZD
Mortgage Advisor74,200 NZD
Mortgage Collection Manager120,000 NZD
Mortgage Collector35,300 NZD
Mortgage Credit Analyst54,800 NZD
Mortgage Credit Manager122,000 NZD
Mortgage Development Manager133,000 NZD
Mortgage Document Reviewer47,900 NZD
Mortgage Funding Manager136,000 NZD
Mortgage Operations Manager177,000 NZD
Mortgage Payment Processing Clerk41,300 NZD
Mortgage Processing Manager115,000 NZD
Mortgage Processor47,800 NZD
Mortgage Quality Assurance Auditor102,000 NZD
Mortgage Quality Assurance Manager124,000 NZD
Mortgage Servicing Clerk35,300 NZD
Mortgage Servicing Manager118,000 NZD
Mortgage Underwriter44,200 NZD
Online Banking Manager185,000 NZD
Open Banking Strategist108,000 NZD
Payment Processing Clerk35,900 NZD
Personal Banker77,100 NZD
Personal Banking Advisor 81,300 NZD
Phone Banker52,700 NZD
Private Banker77,500 NZD
Reconciliation and Investigation Specialist85,500 NZD
Tax Officer62,700 NZD
Teller35,300 NZD
Trade Officer44,300 NZD
Trade Product Manager121,000 NZD
Trader53,700 NZD
Treasury Operations Officer94,100 NZD
Wealth Management Advisor157,000 NZD


Banking Jobs Pay Scale and Salaries in New Zealand

Median and salary distribution New Zealand Banking yearly
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Salary Structure and Pay Scale Comparison

5% of people earn
110,000 NZD or more
10% of people earn
91,100 to 110,000 NZD
20% of people earn
49,400 NZD or less
65% of people earn
49,400 to 91,100 NZD
Minimum Salary
33,300 NZD
Median
98,300 NZD
Maximum
217,000 NZD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per year except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Banking in New Zealand range from 33,300 NZD (starting average salary) to 217,000 NZD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Banking is 98,300 NZD, implying that half of the workforce in New Zealand earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Banking in New Zealand earn less than 73,400 NZD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 121,000 NZD, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Banking in New Zealand. The analysis revealed that roughly 65% of all reported salaries fell within the range of 49,400 NZD to 91,100 NZD. Approximately 20% of salaries were below the 49,400 NZD mark, while 10% ranged from 91,100 NZD to 110,000 NZD. Only 5% of individuals earned a gross salary of 110,000 NZD or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Banking in New Zealand having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Banking in New Zealand, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in New Zealand costs anywhere from 40,700 NZD to 122,000 NZD and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Banking / New Zealand

Salary comparison by gender New Zealand Banking yearly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Banking in New Zealand, the average difference between the salary of male and female employees is 5%.

Male
109,000 NZD
Female-5%
104,000 NZD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in New Zealand for all Careers

Salary comparison by gender yearly New Zealand
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Average Annual Salary Increment Percentage / Banking / New Zealand

How much are annual salary increments in New Zealand for individuals working in Banking? How often do employees get salary raises?

Professionals working in Banking in New Zealand are likely to observe a salary increase of approximately 10% every 14 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate New Zealand Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

New Zealand / All Professions

Annual Salary Increment Rate New Zealand
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in New Zealand is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Banking / New Zealand

How much and how often are bonuses being awarded?Annual Salary Bonus Rate New Zealand Banking
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18% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 82% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
82%
No Bonus
18%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Banking / New Zealand


51 NZD per hour

The average hourly wage (pay per hour) in Banking in New Zealand is 51 NZD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Banking in New Zealand is 16 NZD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Auckland118,000 NZD
Christchurch113,000 NZD
Hamilton102,000 NZD
Rotorua97,600 NZD
Wellington109,000 NZD

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in New Zealand is 5% on average across all career fields.

Private Sector
94,900 NZD
Public Sector+5%
99,900 NZD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Banking in New Zealand?

A good and competitive compensation would range anywhere between 98,300 NZD and 121,000 NZD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Banking in New Zealand ranges from 33,300 NZD to 73,400 NZD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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