Bank Manager Average Salary in Zimbabwe 2024
How much money does a person working as Bank Manager make in Zimbabwe?
LOW
213,000
ZWD AVERAGE
462,000
ZWD HIGH
735,000
ZWD
A person working as Bank Manager in Zimbabwe typically earns around 462,000 ZWD. Salaries range from 213,000 ZWD (lowest) to 735,000 ZWD (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Bank Manager salaries in Zimbabwe vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Bank Manager Pay Scale and Salaries in Zimbabwe
Salary Structure and Pay Scale Comparison
439,000 ZWD or more
384,000 to 439,000 ZWD
265,000 ZWD or less
265,000 to 384,000 ZWD
 213,000 ZWD |
442,000 ZWD |
735,000 ZWD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Bank Manager in Zimbabwe range from 213,000 ZWD (starting salary) to 735,000 ZWD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 442,000 ZWD, half of the professionals who work as Bank Manager in Zimbabwe earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Bank Manager in Zimbabwe earn less than 356,000 ZWD, while 75% earn more. Similarly, the chart shows that 75% earn less than 509,000 ZWD while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Bank Manager in Zimbabwe compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 265,000 ZWD to 384,000 ZWD. About 20% of salaries are below the 265,000 ZWD mark, while 10% fall within the range of 384,000 ZWD to 439,000 ZWD. Only 5% of individuals have salaries exceeding 439,000 ZWD.
Salary Comparison by Years of Experience / Bank Manager / Zimbabwe
How do experience and age affect pay?
| 0 - 2 Years | 241,000 ZWD | |
| 2 - 5 Years | +34% | 323,000 ZWD |
| 5 - 10 Years | +48% | 477,000 ZWD |
| 10 - 15 Years | +22% | 581,000 ZWD |
| 15 - 20 Years | +9% | 633,000 ZWD |
| 20+ Years | +8% | 686,000 ZWD |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Bank Manager and this is what we found.
Employees with less than two years of experience earn approximately 241,000 ZWD.
While someone with an experience level between two and five years is expected to earn 323,000 ZWD, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 477,000 ZWD, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 581,000 ZWD, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 633,000 ZWD, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 686,000 ZWD, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Bank Manager / Zimbabwe
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Bank Manager.
| Bachelor's Degree | 281,000 ZWD | |
| Master's Degree | +93% | 542,000 ZWD |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Bank Manager in order to make a comparison.
Level 1: Bachelor's Degree
Employees at this education level have an average salary of 281,000 ZWD.
Level 2: Master's Degree
At this level, the average salary becomes 542,000 ZWD, 93% more than the previous level.
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 Zimbabwe costs anywhere from 1,090,000 ZWD to 3,260,000 ZWD and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you 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 the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Bank Manager / Zimbabwe
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Bank Manager in Zimbabwe, the average difference between the salary of male and female employees is 13%.
| Male | 490,000 ZWD | |
| Female | -11% | 435,000 ZWD |
Salary Comparison By Gender in Zimbabwe for all Careers
Average Annual Salary Increment Percentage / Bank Manager / Zimbabwe
How much are annual salary increments in Zimbabwe for individuals working as Bank Manager? How often do employees get salary raises?
Individuals working as Bank Manager in Zimbabwe are likely to observe a salary increase of approximately 9% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Zimbabwe / All Professions
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
Worldwide Salary Raises: All Countries and All Jobs
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 / Bank Manager / Zimbabwe
How much and how often are bonuses being awarded?
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31% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 69% 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 | 69% | |
| No Bonus | 31% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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.
Average Hourly Wage / Bank Manager / Zimbabwe
2,670 ZWD per hourThe average hourly wage (pay per hour) for individuals working as Bank Manager in Zimbabwe is 2,670 ZWD.This is the rate they get paid for every worked hour.
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 as Bank Manager in Zimbabwe is 1,230 ZWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Banking |  -100% | |
| AML Analyst | 322,000 ZWD | -30% |
| Assistant Bank Branch Manager | 276,000 ZWD | -40% |
| Assistant Bank Manager | 379,000 ZWD | -18% |
| ATM Manager | 334,000 ZWD | -28% |
| ATM Service Technician | 87,000 ZWD | -81% |
| Bank Accounts Analyst | 121,000 ZWD | -74% |
| Bank Accounts Collector | 79,900 ZWD | -83% |
| Bank Accounts Controller | 159,000 ZWD | -66% |
| Bank Accounts Executive | 246,000 ZWD | -47% |
| Bank Accounts Manager | 269,000 ZWD | -42% |
| Bank Auditing Manager | 292,000 ZWD | -37% |
| Bank Branch Manager | 398,000 ZWD | -14% |
| Bank Branch Operations Coordinator | 176,000 ZWD | -62% |
| Bank Clerk | 76,400 ZWD | -83% |
| Bank Client Service Associate | 111,000 ZWD | -76% |
| Bank Collector | 81,800 ZWD | -82% |
| Bank Compliance Specialist | 197,000 ZWD | -57% |
| Bank Manager | 462,000 ZWD | -0% |
| Bank Operational Risk Manager | 439,000 ZWD | -5% |
| Bank Operations Head | 479,000 ZWD |  +4% |
| Bank Operations Officer | 183,000 ZWD | -60% |
| Bank Operations Specialist | 273,000 ZWD | -41% |
| Bank Process Manager | 260,000 ZWD | -44% |
| Bank Product Manager | 288,000 ZWD | -38% |
| Bank Programme Manager | 301,000 ZWD | -35% |
| Bank Project Manager | 376,000 ZWD | -19% |
| Bank Propositions Manager | 323,000 ZWD | -30% |
| Bank Quantitative Analyst | 241,000 ZWD | -48% |
| Bank Regional Manager | 466,000 ZWD | +1% |
| Bank Regional Risk Officer | 242,000 ZWD | -48% |
| Bank Relationship Manager | 356,000 ZWD | -23% |
| Bank Relationship Officer | 153,000 ZWD | -67% |
| Bank Sustainability Analyst | 266,000 ZWD | -42% |
| Bank Teller | 84,100 ZWD | -82% |
| Banker | 170,000 ZWD | -63% |
| Banking Business Analyst | 242,000 ZWD | -48% |
| Banking Business Development Officer | 148,000 ZWD | -68% |
| Banking Business Planning Executive | 334,000 ZWD | -28% |
| Banking Data Analyst | 285,000 ZWD | -38% |
| Banking Product Manager | 288,000 ZWD | -38% |
| Banking Reference Data Manager | 273,000 ZWD | -41% |
| Banking Regulatory Compliance Officer | 276,000 ZWD | -40% |
| Banking Risk Analyst | 236,000 ZWD | -49% |
| Banking Technical Analyst | 121,000 ZWD | -74% |
| Bankruptcy Coordinator | 169,000 ZWD | -63% |
| Bill and Account Collector | 87,800 ZWD | -81% |
| Blockchain Analyst | 197,000 ZWD | -57% |
| Blockchain Architect | 239,000 ZWD | -48% |
| Blockchain Auditor | 200,000 ZWD | -57% |
| Blockchain Compliance Analyst | 216,000 ZWD | -53% |
| Blockchain Consultant | 236,000 ZWD | -49% |
| Blockchain Trade Facilitator | 188,000 ZWD | -59% |
| Budget Analyst | 237,000 ZWD | -49% |
| Capital Risk Manager | 463,000 ZWD | +0% |
| Cards Marketing Manager | 285,000 ZWD | -38% |
| Cash Management Manager | 432,000 ZWD | -7% |
| Check Processing Manager | 302,000 ZWD | -35% |
| Chief Blockchain Officer | 261,000 ZWD | -44% |
| Commercial Vault Associate | 222,000 ZWD | -52% |
| Corporate Banker | 178,000 ZWD | -62% |
| Corporate Dealer | 249,000 ZWD | -46% |
| Credit Analyst | 187,000 ZWD | -60% |
| Credit and Collections Manager | 306,000 ZWD | -34% |
| Credit Card Fraud Investigator | 245,000 ZWD | -47% |
| Credit Portfolio Manager | 446,000 ZWD | -4% |
| Credit Risk Analyst | 270,000 ZWD | -42% |
| Credit Risk Associate | 244,000 ZWD | -47% |
| Cryptocurrency Accountant | 145,000 ZWD | -69% |
| Cryptocurrency Adviser | 295,000 ZWD | -36% |
| Cryptocurrency Analyst | 230,000 ZWD | -50% |
| Cryptocurrency Compliance Manager | 271,000 ZWD | -41% |
| Cryptocurrency Trader | 253,000 ZWD | -45% |
| Digital Banking Manager | 310,000 ZWD | -33% |
| Digital Currency Analyst | 230,000 ZWD | -50% |
| Direct Bank Sales Representative | 175,000 ZWD | -62% |
| Exchange Control Consultant | 251,000 ZWD | -46% |
| Executive Account Analyst | 227,000 ZWD | -51% |
| Financial Bank Planning Consultant | 308,000 ZWD | -33% |
| Financial Banking Analysis Manager | 359,000 ZWD | -22% |
| Financial Banking Assistant | 110,000 ZWD | -76% |
| Financial Banking Systems Manager | 328,000 ZWD | -29% |
| Foreign Exchange Manager | 331,000 ZWD | -28% |
| Fraud Analyst | 265,000 ZWD | -43% |
| Fraud Detection Associate | 171,000 ZWD | -63% |
| Fraud Detection Manager | 387,000 ZWD | -16% |
| Fraud Detection Supervisor | 216,000 ZWD | -53% |
| Internal Bank Audit Manager | 444,000 ZWD | -4% |
| Internal Bank Auditor | 223,000 ZWD | -52% |
| Internal Private Banker | 179,000 ZWD | -61% |
| International Banking Manager | 492,000 ZWD | +6% |
| Investment Banking Analyst | 357,000 ZWD | -23% |
| Loan Analyst | 246,000 ZWD | -47% |
| Loan Area Manager | 289,000 ZWD | -38% |
| Loan Audit Team Leader | 271,000 ZWD | -41% |
| Loan Branch Manager | 280,000 ZWD | -39% |
| Loan Business Development Officer | 143,000 ZWD | -69% |
| Loan Clerk | 87,000 ZWD | -81% |
| Loan Collection and Recovery Manager | 290,000 ZWD | -37% |
| Loan Collection Manager | 278,000 ZWD | -40% |
| Loan Collector | 74,800 ZWD | -84% |
| Loan Examiner | 104,000 ZWD | -78% |
| Loan Officer | 90,600 ZWD | -80% |
| Loan Processing Manager | 268,000 ZWD | -42% |
| Loan Processor | 106,000 ZWD | -77% |
| Loan Quality Assurance Auditor | 248,000 ZWD | -46% |
| Loan Quality Assurance Manager | 261,000 ZWD | -44% |
| Loan Quality Assurance Representative | 182,000 ZWD | -61% |
| Loan Review Manager | 259,000 ZWD | -44% |
| Loan Team Leader | 242,000 ZWD | -48% |
| Loans Manager | 304,000 ZWD | -34% |
| Mortgage Advisor | 173,000 ZWD | -63% |
| Mortgage Collection Manager | 276,000 ZWD | -40% |
| Mortgage Collector | 80,500 ZWD | -83% |
| Mortgage Credit Analyst | 124,000 ZWD | -73% |
| Mortgage Credit Manager | 271,000 ZWD | -41% |
| Mortgage Development Manager | 293,000 ZWD | -37% |
| Mortgage Document Reviewer | 104,000 ZWD | -78% |
| Mortgage Funding Manager | 323,000 ZWD | -30% |
| Mortgage Operations Manager | 397,000 ZWD | -14% |
| Mortgage Payment Processing Clerk | 91,400 ZWD | -80% |
| Mortgage Processing Manager | 270,000 ZWD | -42% |
| Mortgage Processor | 111,000 ZWD | -76% |
| Mortgage Quality Assurance Auditor | 247,000 ZWD | -47% |
| Mortgage Quality Assurance Manager | 267,000 ZWD | -42% |
| Mortgage Servicing Clerk | 80,800 ZWD | -83% |
| Mortgage Servicing Manager | 268,000 ZWD | -42% |
| Mortgage Underwriter | 104,000 ZWD | -78% |
| Online Banking Manager | 395,000 ZWD | -15% |
| Open Banking Strategist | 242,000 ZWD | -48% |
| Payment Processing Clerk | 84,100 ZWD | -82% |
| Personal Banker | 177,000 ZWD | -62% |
| Personal Banking Advisor | 182,000 ZWD | -61% |
| Phone Banker | 117,000 ZWD | -75% |
| Private Banker | 179,000 ZWD | -61% |
| Reconciliation and Investigation Specialist | 202,000 ZWD | -56% |
| Tax Officer | 136,000 ZWD | -71% |
| Teller | 78,600 ZWD | -83% |
| Trade Officer | 97,900 ZWD | -79% |
| Trade Product Manager | 293,000 ZWD | -37% |
| Trader | 116,000 ZWD | -75% |
| Treasury Operations Officer | 210,000 ZWD | -55% |
| Wealth Management Advisor | 352,000 ZWD | -24% |
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 Zimbabwe is 25% on average across all career fields.
| Private Sector | 194,000 ZWD | |
| Public Sector | +25% | 242,000 ZWD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Bank Manager in Zimbabwe?
A good and competitive compensation would range anywhere between 442,000 ZWD and 509,000 ZWD. 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 a careers like Bank Manager in Zimbabwe ranges from 213,000 ZWD to 356,000 ZWD. 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
