Group manager, bank salary

What does it mean to work as a Group Manager in the banking sector?

Working as a Group Manager in a bank involves leading and coordinating a team of employees within the banking industry. This includes overseeing daily banking transactions, ensuring smooth customer services, and developing and implementing strategies to enhance customer experience. Group Managers are often responsible for training and coaching their team members, as well as handling conflicts and issues that may arise within the work group.

Salary for Group Managers in the banking sector

The average salary for a Group Manager in the banking sector is 44 200 SEK per month. There is a clear gender pay gap where men earn an average of 49 600 SEK, while women earn 40 600 SEK. Women's salaries correspond to approximately 82% of men's salaries. An hourly employee in the same profession has an average hourly wage of 266 SEK, based on 166 working hours per month.

Salary development and differences

The salary for Group Managers in the banking sector has increased from 42 500 SEK to 44 200 SEK since the last measurement. The highest reported salary for a male in the profession is 56,600 SEK, belonging to a privately employed executive with a post-secondary education of three years or more. For females, the highest reported salary is 44 200 SEK. On the other hand, the lowest salary for a female in the profession is 37,300 SEK, while the lowest salary for a male is 41,500 SEK.

Education and qualifications

To become a Group Manager in the banking sector, a post-secondary education in economics, finance, or related fields is usually required. Many employers also value practical experience in the banking sector, which can be obtained through previous roles as a bank clerk or advisor. Leadership skills and the ability to manage teams are critical skills for success in this role.

Future prospects and job market

According to the Labor Market Forecast, the job opportunities for Group Managers in the banking sector are considered moderate. Over a five-year period, the demand for bank employees is expected to remain unchanged, with a balanced recruitment situation. This means that there are reasonable chances of finding employment in the field, but competition may be high depending on the region and specific employer.

Benefits and work environment

The work environment for a Group Manager in the banking sector is typically office-based with opportunities for flexible working hours and sometimes remote work. Some employers also offer benefits such as paid training and courses to promote continuous professional development. There may also be opportunities for career advancement within larger banks that offer structured leadership programs.

Challenges and considerations

One of the biggest challenges for a Group Manager in the banking sector is balancing leadership responsibilities with customer-focused tasks. It requires the ability to handle stress and make quick decisions in high-pressure situations. Additionally, it is important to stay updated on changes in the finance sector and regulations that may impact the bank's operations.

Summary

Working as a Group Manager in the banking sector is a role that combines leadership, strategy, and customer service. It offers a competitive salary and opportunities for career advancement, but also challenges in terms of workload and responsibilities. With the right education and experience, this can be a rewarding career for those interested in the banking and finance industry.