Banking Average Salaries in Palma de Mallorca 2026
How much money does a person working in Banking make in Palma de Mallorca?
LOW
1,090
EUR AVERAGE
3,040
EUR HIGH
6,000
EUR
A person working in Banking in Palma de Mallorca typically earns around 3,040 EUR. Salaries range from 1,090 EUR (lowest average) to 6,000 EUR (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 Palma de Mallorca 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 Title | Average Salary |
| Banking | |
| AML Analyst | 4,020 EUR |
| Assistant Bank Branch Manager | 3,530 EUR |
| Assistant Bank Manager | 4,380 EUR |
| ATM Manager | 4,020 EUR |
| ATM Service Technician | 1,230 EUR |
| Bank Accounts Analyst | 1,710 EUR |
| Bank Accounts Collector | 1,100 EUR |
| Bank Accounts Controller | 2,160 EUR |
| Bank Accounts Executive | 3,030 EUR |
| Bank Accounts Manager | 3,390 EUR |
| Bank Auditing Manager | 3,410 EUR |
| Bank Branch Manager | 4,860 EUR |
| Bank Branch Operations Coordinator | 2,220 EUR |
| Bank Clerk | 1,120 EUR |
| Bank Client Service Associate | 1,420 EUR |
| Bank Collector | 1,140 EUR |
| Bank Compliance Specialist | 2,630 EUR |
| Bank Manager | 5,240 EUR |
| Bank Operational Risk Manager | 5,250 EUR |
| Bank Operations Head | 5,640 EUR |
| Bank Operations Officer | 2,360 EUR |
| Bank Operations Specialist | 3,610 EUR |
| Bank Process Manager | 3,240 EUR |
| Bank Product Manager | 3,570 EUR |
| Bank Programme Manager | 3,830 EUR |
| Bank Project Manager | 4,460 EUR |
| Bank Propositions Manager | 3,860 EUR |
| Bank Quantitative Analyst | 2,860 EUR |
| Bank Regional Manager | 5,860 EUR |
| Bank Regional Risk Officer | 2,970 EUR |
| Bank Relationship Manager | 4,240 EUR |
| Bank Relationship Officer | 2,030 EUR |
| Bank Sustainability Analyst | 3,170 EUR |
| Bank Teller | 1,140 EUR |
| Banker | 2,000 EUR |
| Banking Business Analyst | 3,000 EUR |
| Banking Business Development Officer | 1,980 EUR |
| Banking Business Planning Executive | 4,120 EUR |
| Banking Data Analyst | 3,500 EUR |
| Banking Product Manager | 3,500 EUR |
| Banking Reference Data Manager | 3,320 EUR |
| Banking Regulatory Compliance Officer | 3,500 EUR |
| Banking Risk Analyst | 2,840 EUR |
| Banking Technical Analyst | 1,600 EUR |
| Bankruptcy Coordinator | 2,170 EUR |
| Bill and Account Collector | 1,140 EUR |
| Blockchain Analyst | 2,540 EUR |
| Blockchain Architect | 2,850 EUR |
| Blockchain Auditor | 2,740 EUR |
| Blockchain Compliance Analyst | 2,750 EUR |
| Blockchain Consultant | 2,800 EUR |
| Blockchain Trade Facilitator | 2,380 EUR |
| Budget Analyst | 2,860 EUR |
| Capital Risk Manager | 5,440 EUR |
| Cards Marketing Manager | 3,750 EUR |
| Cash Management Manager | 5,040 EUR |
| Check Processing Manager | 3,680 EUR |
| Chief Blockchain Officer | 3,300 EUR |
| Commercial Vault Associate | 2,920 EUR |
| Corporate Banker | 2,190 EUR |
| Corporate Dealer | 3,100 EUR |
| Credit Analyst | 2,340 EUR |
| Credit and Collections Manager | 3,810 EUR |
| Credit Card Fraud Investigator | 3,190 EUR |
| Credit Portfolio Manager | 5,290 EUR |
| Credit Risk Analyst | 3,300 EUR |
| Credit Risk Associate | 3,140 EUR |
| Cryptocurrency Accountant | 2,020 EUR |
| Cryptocurrency Adviser | 3,630 EUR |
| Cryptocurrency Analyst | 2,700 EUR |
| Cryptocurrency Compliance Manager | 3,210 EUR |
| Cryptocurrency Trader | 3,120 EUR |
| Digital Banking Manager | 4,080 EUR |
| Digital Currency Analyst | 2,950 EUR |
| Direct Bank Sales Representative | 2,200 EUR |
| Exchange Control Consultant | 3,060 EUR |
| Executive Account Analyst | 2,890 EUR |
| Financial Bank Planning Consultant | 3,720 EUR |
| Financial Banking Analysis Manager | 4,120 EUR |
| Financial Banking Assistant | 1,580 EUR |
| Financial Banking Systems Manager | 4,020 EUR |
| Foreign Exchange Manager | 4,180 EUR |
| Fraud Analyst | 3,020 EUR |
| Fraud Detection Associate | 2,110 EUR |
| Fraud Detection Manager | 4,400 EUR |
| Fraud Detection Supervisor | 2,700 EUR |
| Internal Bank Audit Manager | 5,140 EUR |
| Internal Bank Auditor | 2,750 EUR |
| Internal Private Banker | 2,170 EUR |
| International Banking Manager | 6,040 EUR |
| Investment Banking Analyst | 4,270 EUR |
| Loan Analyst | 3,060 EUR |
| Loan Area Manager | 3,440 EUR |
| Loan Audit Team Leader | 3,240 EUR |
| Loan Branch Manager | 3,450 EUR |
| Loan Business Development Officer | 1,910 EUR |
| Loan Clerk | 1,170 EUR |
| Loan Collection and Recovery Manager | 3,650 EUR |
| Loan Collection Manager | 3,390 EUR |
| Loan Collector | 1,120 EUR |
| Loan Examiner | 1,390 EUR |
| Loan Officer | 1,230 EUR |
| Loan Processing Manager | 3,050 EUR |
| Loan Processor | 1,490 EUR |
| Loan Quality Assurance Auditor | 3,020 EUR |
| Loan Quality Assurance Manager | 3,250 EUR |
| Loan Quality Assurance Representative | 2,170 EUR |
| Loan Review Manager | 3,430 EUR |
| Loan Team Leader | 3,010 EUR |
| Loans Manager | 3,980 EUR |
| Mortgage Advisor | 2,080 EUR |
| Mortgage Collection Manager | 3,280 EUR |
| Mortgage Collector | 1,130 EUR |
| Mortgage Credit Analyst | 1,670 EUR |
| Mortgage Credit Manager | 3,210 EUR |
| Mortgage Development Manager | 3,930 EUR |
| Mortgage Document Reviewer | 1,440 EUR |
| Mortgage Funding Manager | 3,770 EUR |
| Mortgage Operations Manager | 4,820 EUR |
| Mortgage Payment Processing Clerk | 1,310 EUR |
| Mortgage Processing Manager | 3,270 EUR |
| Mortgage Processor | 1,510 EUR |
| Mortgage Quality Assurance Auditor | 2,980 EUR |
| Mortgage Quality Assurance Manager | 3,290 EUR |
| Mortgage Servicing Clerk | 1,180 EUR |
| Mortgage Servicing Manager | 3,230 EUR |
| Mortgage Underwriter | 1,320 EUR |
| Online Banking Manager | 5,030 EUR |
| Open Banking Strategist | 3,090 EUR |
| Payment Processing Clerk | 1,150 EUR |
| Personal Banker | 2,240 EUR |
| Personal Banking Advisor | 2,270 EUR |
| Phone Banker | 1,500 EUR |
| Private Banker | 2,090 EUR |
| Reconciliation and Investigation Specialist | 2,370 EUR |
| Tax Officer | 1,900 EUR |
| Teller | 1,110 EUR |
| Trade Officer | 1,380 EUR |
| Trade Product Manager | 3,490 EUR |
| Trader | 1,540 EUR |
| Treasury Operations Officer | 2,720 EUR |
| Wealth Management Advisor | 4,090 EUR |
Banking Jobs Pay Scale and Salaries in Palma de Mallorca
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries in Banking in Palma de Mallorca range from 1,090 EUR (starting average salary) to 6,000 EUR (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 2,780 EUR, implying that half of the workforce in Palma de Mallorca 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 Palma de Mallorca earn less than 2,130 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 3,370 EUR, 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 Palma de Mallorca. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,500 EUR to 2,590 EUR. Approximately 20% of salaries were below the 1,500 EUR mark, while 10% ranged from 2,590 EUR to 3,090 EUR. Only 5% of individuals earned a gross salary of 3,090 EUR or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
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 Palma de Mallorca 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.
Salary Comparison By Education
How does the education level affect your salary?
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 Palma de Mallorca, 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 Spain costs anywhere from 13,600 EUR to 40,900 EUR 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 / Palma de Mallorca
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 Spain, the average difference between the salary of male and female employees is 5%.
| Male | 3,020 EUR | |
| Female | -5% | 2,870 EUR |
Average Annual Salary Increment Percentage / Banking / Palma de Mallorca
How much are annual salary increments in Palma de Mallorca for individuals working in Banking? How often do employees get salary raises?
Professionals working in Banking in Spain are likely to observe a salary increase of approximately 10% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.
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 / Banking / Spain
How much and how often are bonuses being awarded?
25% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 75% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.
| Received Bonus | 75% | |
| No Bonus | 25% |
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.
Hourly Average Wage / Banking / Palma de Mallorca
The average hourly wage (pay per hour) in Banking in Palma de Mallorca is 18 EUR.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 in Banking in Palma de Mallorca is 6 EUR. 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
| City | Average Salary |
| Barcelona | 3,410 EUR |
| Bilbao | 2,920 EUR |
| Las Palmas | 2,980 EUR |
| Madrid | 3,460 EUR |
| Malaga | 3,170 EUR |
| Murcia | 3,110 EUR |
| Palma de Mallorca | 3,040 EUR |
| Sevilla | 3,290 EUR |
| Valencia | 3,350 EUR |
| Zaragoza | 3,230 EUR |
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 Spain is 5% on average across all career fields.
| Private Sector | 2,660 EUR | |
| Public Sector | +5% | 2,780 EUR |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Banking in Palma de Mallorca?
A good and competitive compensation would range anywhere between 2,780 EUR and 3,370 EUR. 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 Palma de Mallorca ranges from 1,090 EUR to 2,130 EUR. 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.