Salaries for positions in the Banking work area

The gross salary range for people working in Tanzania in Banking is typically from 543,930 TZS (minimum salary) to 2,204,131 TZS (highest average, actual maximum salary is higher).

This is the total monthly salary including bonuses. Salaries can vary drastically among different job positions. If you are interested in the salary of a particular job, please choose it from the list.

Gross salary in category Banking

Salaries may vary by position, the value given is indicative.

80% of people earn:

544K - 2.2M TZS

10% earn less lthan 544K TZS

10% earns more than 2.2M TZS

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What does the data in the graph mean?

Salaries in the survey are expressed in gross.

Based on the Paylab.com salary survey, 80% of people in the Banking category in the Tanzania earn between 543,930 TZS and 2,204,131 TZS monthly gross.

10% of employees earn less than 543,930 TZS and 10% of people earn more than 2,204,131 TZS.

The survey is based on data from employees, cleaned of extreme and duplicate values. By taking a free, anonymous survey, you will get a more accurate salary comparison with other people working in the same position as you.

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List of positions in the Banking category and their job descriptions

Job position

Description of job position

Salary range

Anti-Money Laundering Specialist

Implementation, enforcement and control of money laundering and / or terrorist financing prevention measures in the company;
Checking new customers, reviewing documents, risk analysis of new customers;
Monitoring of existing customers according to established procedures;
Monitoring of suspicious transactions, customer activities, collection and analysis of data on such transactions, investigation of suspicious transactions;
Organization of the company's internal legal acts related to KYC, AML, customer risk, compliance control, organization of their change and renewal.

646,568 - 1,625,008 TZS

Back Office Specialist

Processing of all types of client requests.
Entering and updating the information in the bank information system.
Drawing up and processing of contracts and contract amendments for individual banking products.
Archiving documents in compliance with the internal regulations.
Mastering internal regulations, general business terms and conditions, and business conditions for individual banking products.
Communicating with internal and external clients.

590,239 - 1,511,851 TZS

Card Services Clerk

Processing applications for the issuance of credit and debit cards.
Communicating with companies issuing credit cards and bank branches.
Participating in the creation and updating of internal regulations.
Cooperating with project managers on new projects.
Solving complaints.
Assessing the suitability of motives on credit cards in your own design.

504,484 - 1,418,219 TZS

Claims Administrator

Recovering overdue receivables from the customers of a leasing company.
Registering and controlling overdue receivables.
Processing and sending written and e-mail reminders.
Communicating with debtors and other departments within the company.
Planning repayment schedules in the event of the insolvency of debtors.
Registering and checking payments in the system.
Preparing materials for the legal department.

539,842 - 1,358,779 TZS

Client officer

Active sale of bank products and of services to retail clients.
Opening and closing of bank accounts.
Realization of domestic and international wire transfers.
Accepting and issuing of cash in domestic and foreign currency.
Providing clients with counseling and information.
Carrying out administrative tasks connected with the provided services.
Fulfilling of the set business and acquisition plans.

526,979 - 1,274,882 TZS

Compliance Specialist

Assessing the legality of the bank's entrepreneurial activity.
Monitoring the legislative standards and requirements of organs of supervision that are valid in the place of the bank's activity.
Identifying the risks in the legislation and/or internal procedures.
Point out the potential risks to the superiors.

828,107 - 2,381,882 TZS

Custody Specialist

Securing the administration and custody of securities for clients.
Keeping clients informed about corporate shares concerning the administrated securities.
Carrying out operations with securities on the basis of clients' orders.
Calculation and control of the current value of securities in the administration of the bank.
Paying returns from securities.
Representing clients and their interests at general assemblies.

Dealer/Trader

Purchase, keeping and sale of securities, commodities and foreign currencies in the currency of the clients and/or on the account of the bank.
Monitoring and verifying prices of the financial tools at the security exchange.
Following and analyzing the development on financial markets.
Exchanging information with colleagues and clients.
Preparing financial reports.

662,901 - 1,617,446 TZS

Financial Advisor

Providing personalized financial advice to clients based on their individual financial situations and goals.
Analyzing clients' financial information to develop tailored investment strategies and plans.
Educating clients on various financial products and services, including investments, insurance, and retirement planning.
Monitoring clients' portfolios and making recommendations for adjustments as needed to optimize performance.
Building and maintaining strong relationships with clients to ensure high levels of satisfaction and trust.
Staying up-to-date with market trends, economic developments, and changes in financial regulations to provide informed advice.
Preparing and presenting financial plans and reports to clients in a clear and understandable manner.
Collaborating with other financial professionals, such as accountants and tax advisors, to provide comprehensive services.
Conducting regular reviews with clients to assess their financial goals and progress.
Actively seeking new clients through networking, referrals, and marketing efforts to grow the business.

602,293 - 1,593,244 TZS

Financial Analyst

Preparing regular and ad hoc financial analysis.
Preparing statistics.
Developing weekly and monthly reports.
Taking part in developing financial plans.
Taking part in developing and improving controlling mechanisms.
Communicating with the high management members of the company and other departments.

789,856 - 2,037,156 TZS

Internal Auditor

Drafting comprehensive plans and programs of audits.
Performing audit activities at the company’s headquarters and branches.
Checking compliance with internal regulations and the legislation.
Reviewing business and operational activities of organisations.
Processing audit outputs in the form of reports.
Making recommendations and monitoring the removal of any identified deficiencies.
Providing advice and consultancy within the scope of the auditor’s competence.

831,063 - 2,598,925 TZS

Loan Specialist

Providing advice connected to consumer, mortgage, and commercial loans.
Evaluating client creditworthiness pursuant to the lending policy at the financial institution.
Concluding loan contracts on behalf of the financial institution.
Checking the payment of instalments and the fulfilment of conditions agreed in the loan agreement.
Adjusting deadlines and monthly instalments, loan maturity, etc. in the event that a client is temporarily unable to make payments.
Contacting competing financial institutions with proposals for co-financing higher-cost investment projects.
Cooperating with executors and external companies that deal with the collection of receivables.

629,908 - 1,614,218 TZS

Mortgage Specialist

Providing advice to clients regarding mortgage products and services.
Communicating with real estate agencies, building investors, authorities and other entities.
Acquiring potential clients.
Processing and assessing customers’ requests for mortgage loans.
Performing administrative tasks associated with the provision of mortgage loans.
Concluding mortgage loan agreements.

640,901 - 1,572,653 TZS

Payments Clerk

Processing payments, including deposits, withdrawals, and fund transfers.
Cashing checks and accepting loan payments while ensuring accuracy in transactions.
Completing necessary forms for loan approvals and other banking services.
Buying and selling foreign currency as required.
Verifying account details, bank names, transaction amounts, and the accuracy of completed documents.
Ensuring compliance with identification verification procedures for clients receiving services.
Assisting customers with inquiries and providing information on banking products and services.
Maintaining accurate records of all transactions and customer interactions.
Collaborating with team members to enhance service delivery and operational efficiency.
Adhering to banking regulations and internal policies to mitigate risks and ensure security.

566,657 - 1,378,162 TZS

Personal Banker

Taking care of the assigned portfolio at the bank branch.
Creating and developing business relations with clients .
Presentation and sale of bank products and services.
Fulfilling of the set personal business plan.
Taking part in fulfilling the financial and campaign plan.

601,484 - 1,551,840 TZS

Private Banker

Managing liquid assets, stocks, bonds and real estate of highly creditworthy bank clients.
Seeking out potential clients and their acquisition within their area of operation.
Detecting the individual requirements and objectives of clients with the intention to propose the optimal investment solution for the appreciation of their property.
Communicating with experts in asset management, real estate, lawyers etc.
Providing advice in the investment and real estate area.
Handling the special requirements of clients (e.g. booking tickets for an event, providing private jet transportation, etc.).

749,177 - 1,971,182 TZS

Product Manager - Specialist

Developing the new and innovating the existing bank products and services.
Monitoring and analyzing the competitive environment.
Following the fulfilling of goals in the area of product profitability.
Taking part in creating and setting the processes connected with products.
Directing and training new employees.
Analyzing and solving arisen operating problems.
Cooperating with other departments of the bank.

806,560 - 2,545,740 TZS

Relationship Manager

Presenting and selling banking products and services to company clients.
Monitoring the market and competitors' activities within the assigned region.
Finding new clients.
Creating and developing business relationships with company clients.
Performing one's prescribed personal business plan.
Participating in performing financial and campaign plans.
Keeping records and the database of clients.

839,000 - 2,049,584 TZS

Risk Specialist

Identifying credit, market, operational, strategic and liquidity risks potentially threatening the assets and cash flow of the bank.
Developing methodology for measuring individual types of risks.
Designing and analysing measures to prevent risks.
Designing solutions to cover damage in case of risks.
Using external registers (e.g. credit register, register of Social Security debtors, etc.) in assessing risks.
Cooperating with product and project managers, underwriters and other bank departments.

813,544 - 2,120,963 TZS

Seller of Bank Services, Loan Officer

Monitoring cash flow in the branch's cash register and vault, ensuring accurate records of deposited and withdrawn funds.
Verifying issued and received checks, maintaining comprehensive knowledge of all bank services and products, including loan types and savings options.
Assisting tellers at the counter by providing accurate information to clients regarding banking services.
Completing standard contracts for various types of loans, ensuring proper usage of loan funds, calculating and collecting interest on loans.
Opening and managing accounts for both domestic and foreign clients, addressing complaints and correspondence, and maintaining organized records.
Collecting and managing documentation, preparing analytical and statistical bases for report creation, and generating simple reports related to job responsibilities.
Receiving and transmitting messages through fax and email, ensuring efficient communication within the bank.
Building and maintaining strong relationships with clients to enhance customer satisfaction and loyalty.
Staying informed about market trends and regulatory changes to provide accurate advice and guidance to clients.
Collaborating with other departments to facilitate seamless service delivery and support the overall objectives of the bank.

599,392 - 1,303,625 TZS

Stock Broker

Making business transactions with clients.
Searching for potential clients.
Communicating with clients with the purpose of securing their needs.
Communicating with dealers/traders about the details of the business transaction.
Addressing clients on the phone with investment offers.
Providing clients with counseling in the area of investment.

804,355 - 2,006,445 TZS

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Frequently asked Questions

Frequently asked questions and answers about salaries for positions in the work area Banking.

The total gross average salary for positions in the category Banking is according to Paylab.com 1,282,060 TZS.

The best-paying positions in the category Banking are Internal Auditor, Product Manager - Specialist, Compliance Specialist, Risk Specialist, Relationship Manager.

Yes, the size of the company can affect the amount of your salary. Larger companies usually have more stable revenues and can afford to pay the best people on the market. In addition, salaries in large companies may be influenced by collective agreements, which ensure their regular review.

When we add up the average salary of all women and the average salary of all men working in positions in the category Banking, women earn 10.65% less than men.