The average pay for a top executive employed at Saudi Arabia’s listed banks was SAR 2.85 million last year, according to an annual study conducted by Argaam.
By the end of 2014, the study showed that 50,323 bankers made a total of SAR 11.4 million in compensation and bonuses, or an average of SAR 227,000 per person each year.
|
Average Annual Pay (SAR mln) |
||||
|
Average pay per employee |
Variable compensation |
Fixed compensation |
Number of employees |
Title |
|
2.85 |
300.4 |
366.6 |
234 |
CEOs |
|
0.46 |
431.5 |
1,443.9 |
4,054 |
Risk management |
|
0.34 |
172 |
934.3 |
3,256 |
Internal audit department |
|
0.18 |
1,002.1 |
6,749.8 |
42,779 |
Other employees |
|
0.23 |
1,906 |
9,494.6 |
50,323 |
Total |
Top executives at the National Commercial Bank (NCB), Saudi Arabia largest bank in terms of assets, earned an average of SAR 6.34 million each last year, the highest pay among executives in all Saudi listed banks.
Banque Saudi Fransi (BSF) took the second spot, as the average pay of each top executive reached SAR 3.98 million in the same year.
Bank Al-Bilad and SAMBA Financial Group followed with an average pay of more than SAR three million to each executive.
|
Average Annual Pay of Executives (SAR mln) |
|||||
|
Average pay per executive (2013) |
Average pay per executive (2014) |
Variable compensation (SAR mln) |
Fixed compensation (SAR mln) |
Number of executives |
Bank |
|
6.59 |
6.34 |
62.2 |
26.6 |
14 |
NCB |
|
4.08 |
3.98 |
46.4 |
37.2 |
21 |
Saudi Fransi |
|
3.01 |
3.73 |
13.3 |
12.8 |
7 |
Al-Bilad |
|
3.44 |
3.39 |
33.3 |
27.8 |
18 |
SAMBA |
|
2.87 |
3.38 |
25.8 |
28.2 |
16 |
SABB |
|
3.14 |
3.32 |
25.2 |
41.2 |
20 |
ANB |
|
3.03 |
2.87 |
21.0 |
33.6 |
19 |
SIBC |
|
2.54 |
2.77 |
12.7 |
34.4 |
17 |
BJAZ |
|
2.39 |
2.72 |
10.5 |
30.3 |
15 |
Alinma Bank |
|
2.21 |
2.51 |
16.9 |
23.3 |
16 |
Saudi Hollandi Bank |
|
1.43 |
1.49 |
10.8 |
34.0 |
30 |
RIBL |
|
1.51 |
1.45 |
22.3 |
37.2 |
41 |
Al-Rajhi Bank |
|
2.80 |
2.85 |
300.4 |
366.6 |
234 |
Total |
The average salary for a risk management staff member hovered around SAR 870,000 a year; while each auditor made around SAR 340,000.
|
Risk Management - Average Annual Pay (SAR thousand) |
|||||
|
Average pay per employee (2013) |
Average pay per employee (2014) |
Variable compensation (SAR mln) |
Fixed compensation (SAR mln) |
Number of employees |
Bank |
|
815 |
870 |
86.5 |
170.2 |
295 |
Saudi Fransi |
|
631 |
671 |
62.5 |
130.1 |
287 |
SABB |
|
732 |
650 |
27.1 |
85.3 |
173 |
ANB |
|
552 |
596 |
18.8 |
61.1 |
134 |
SIBC |
|
510 |
549 |
45.3 |
117.1 |
296 |
NCB |
|
430 |
435 |
91.3 |
311.2 |
925 |
SAMBA |
|
369 |
395 |
3.1 |
99.2 |
259 |
Al-Rajhi Bank |
|
416 |
383 |
11.6 |
59.6 |
186 |
BJAZ |
|
284 |
379 |
27.7 |
102.4 |
343 |
RIBL |
|
365 |
352 |
22.9 |
135.3 |
450 |
Alinma Bank |
|
368 |
329 |
11.8 |
53.6 |
199 |
Al-Bilad |
|
284 |
279 |
22.9 |
118.8 |
507 |
Saudi Hollandi |
|
449 |
463 |
431.5 |
1,443.9 |
4,054 |
Total |
|
Internal Auditors – Average Annual Pay (SAR thousand) |
|||||
|
Average pay per employee (2013) |
Average pay per employee (2014) |
Variable compensation (SAR mln) |
Fixed compensation (SAR mln) |
Number of employees |
Bank |
|
517 |
633 |
18.0 |
61.1 |
125 |
SABB |
|
557 |
410 |
6.4 |
40.3 |
114 |
Alinma |
|
417 |
449 |
9.5 |
102.7 |
250 |
Al-Rajhi |
|
408 |
448 |
35.7 |
122.9 |
354 |
NCB |
|
390 |
412 |
4.9 |
49.1 |
131 |
BJAZ |
|
392 |
407 |
29.2 |
88.1 |
288 |
Saudi Fransi |
|
343 |
318 |
4.8 |
29.9 |
109 |
Saudi Hollandi |
|
292 |
311 |
13.3 |
45.7 |
190 |
SIBC |
|
298 |
282 |
10.2 |
103.6 |
403 |
ANB |
|
239 |
276 |
8.9 |
53.7 |
227 |
Al-Bilad |
|
283 |
273 |
21.7 |
152.7 |
638 |
SAMBA |
|
209 |
220 |
9.4 |
84.6 |
427 |
RIBL |
|
329 |
340 |
172 |
934.3 |
3,256 |
Total |
Non-senior staff members— who include about 42,779 bankers in the kingdom— each earned around SAR 181,000 a year.
|
Non-Senior Bankers— Average Annual Pay (SAR thousand) |
|||||
|
Average pay per employee (2013) |
Average pay per employee (2014) |
Variable compensation (SAR mln) |
Fixed compensation (SAR mln) |
Number of other employees |
Bank |
|
212 |
240 |
31.6 |
256.5 |
1,199 |
Alinma Bank |
|
234 |
224 |
47.7 |
388.6 |
1,950 |
BJAZ |
|
208 |
215 |
264.8 |
1,222.2 |
6,912 |
NCB |
|
201 |
213 |
110.4 |
503.4 |
2,886 |
SABB |
|
196 |
213 |
45.8 |
196.4 |
1,135 |
SIBC |
|
188 |
201 |
65.9 |
432.8 |
2,481 |
Saudi Fransi |
|
177 |
175 |
58.3 |
636.2 |
3,958 |
ANB |
|
177 |
174 |
229.9 |
1,717.7 |
11,211 |
Al-Rajhi Bank |
|
145 |
147 |
54.9 |
633.7 |
4,700 |
RIBL |
|
145 |
146 |
24.8 |
233.1 |
1,763 |
Saudi Hollandi Bank |
|
105 |
144 |
60.6 |
337.3 |
2,761 |
Al-Bilad |
|
108 |
109 |
7.4 |
191.9 |
1,823 |
SAMBA |
|
175 |
181 |
1,002.1 |
6,749.8 |
42,779 |
Total |
Bank Al Jazira’s executives and employees received compensations and bonuses equal to 27 percent of the bank’s operating income last year. Bank Al-Bilad and Alinma paid 26 percent and 19 percent of their operating income, respectively.
|
Compensations Ratio to Operating Income |
|||
|
Ratio to Total Operating Income |
Employee Compensations (SAR mln) |
Total operating income (SAR mln) |
Bank |
|
%27 |
608.6 |
2,226.2 |
BJAZ |
|
%26 |
552.2 |
2,150.6 |
Al-Bilad |
|
%19 |
533.8 |
2,821.8 |
Alinma |
|
%18 |
987.1 |
5,534.7 |
ANB |
|
%17 |
435.6 |
2,531.2 |
SIBC |
|
%17 |
956.4 |
5,786.0 |
Saudi Fransi |
|
%16 |
2,221.4 |
14,062.1 |
Al-Rajhi Bank |
|
%15 |
474.7 |
3,182.1 |
Saudi Hollandi |
|
%14 |
939.5 |
6,611.7 |
SABB |
|
%12 |
957.5 |
8,011.8 |
RIBL |
|
%12 |
1,896.8 |
16,228.2 |
NCB |
|
%11 |
837.4 |
7,384.8 |
SAMBA |
|
%15 |
11,401.0 |
76,531.2 |
Total |
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