How much does a Bank Teller make in Calgary?

This section shows the industries where the majority of people in this occupation work. The data is based on the 2016 Census.

In Alberta, this occupation is part of 1 or more 2016 National Occupational Classification (NOC) groups.

In the 6551: Customer services representatives - financial institutions occupational group, 93.8% of people work in:

Employment Outlook

Employment outlook is influenced by a wide variety of factors including:

• Time of year (for seasonal jobs)
• Location in Alberta
• Employment turnover (when people leave existing positions)
• Occupational growth (when new positions are created)
• Size of the occupation
• Trends and events that affect overall employment, especially in the industry or industries from the previous list

In Alberta, the 6551: Customer services representatives - financial institutions occupational group is expected to have a below-average annual growth of 1.3% from 2019 to 2023. In addition to job openings created by employment turnover, 98 new positions are forecasted to be created within this occupational group each year.

A person working in Banking in Calgary typically earns around 137,000 CAD per year. Salaries range from 43,100 CAD (lowest average) to 281,000 CAD (highest average, actual maximum salary is higher).

This is the average yearly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

AML Analyst205,000 CADAssistant Bank Branch Manager170,000 CADAssistant Bank Manager214,000 CADATM Manager185,000 CADATM Service Technician52,300 CADBank Accounts Analyst76,800 CADBank Accounts Controller95,000 CADBank Accounts Executive144,000 CADBank Accounts Manager171,000 CADBank Auditing Manager173,000 CADBank Branch Manager226,000 CADBank Clerk46,300 CADBank Compliance Specialist118,000 CADBank Manager271,000 CADBank Operational Risk Manager271,000 CADBank Operations Head264,000 CADBank Operations Officer110,000 CADBank Operations Specialist174,000 CADBank Process Manager148,000 CADBank Product Manager172,000 CADBank Programme Manager185,000 CADBank Project Manager207,000 CADBank Propositions Manager187,000 CADBank Quantitative Analyst143,000 CADBank Regional Manager289,000 CADBank Regional Risk Officer142,000 CADBank Relationship Manager196,000 CADBank Relationship Officer88,600 CADBanker97,300 CADBanking Business Analyst143,000 CADBanking Business Development Officer86,300 CADBanking Business Planning Executive200,000 CADBanking Product Manager178,000 CADBanking Reference Data Manager151,000 CADBanking Risk Analyst142,000 CADBanking Technical Analyst72,000 CADBankruptcy Coordinator95,500 CADBudget Analyst143,000 CADCards Marketing Manager181,000 CADCash Management Manager247,000 CADCheck Processing Manager187,000 CADCommercial Vault Associate132,000 CADCorporate Dealer141,000 CADCredit Analyst109,000 CADCredit and Collections Manager194,000 CADCredit Card Fraud Investigator152,000 CADCredit Portfolio Manager260,000 CADCredit Risk Analyst158,000 CADCredit Risk Associate150,000 CADDirect Bank Sales Representative96,700 CADFinancial Bank Planning Consultant180,000 CADFinancial Banking Analysis Manager211,000 CADFinancial Banking Assistant70,000 CADFinancial Banking Systems Manager185,000 CADForeign Exchange Manager203,000 CADFraud Analyst152,000 CADFraud Detection Associate103,000 CADFraud Detection Manager215,000 CADFraud Detection Supervisor127,000 CADInternal Bank Audit Manager252,000 CADInternal Bank Auditor138,000 CADInternational Banking Manager298,000 CADLoan Analyst145,000 CADLoan Area Manager174,000 CADLoan Audit Team Leader163,000 CADLoan Branch Manager166,000 CADLoan Business Development Officer82,800 CADLoan Clerk49,600 CADLoan Collection Manager172,000 CADLoan Collector44,500 CADLoan Examiner60,800 CADLoan Processing Manager154,000 CADLoan Processor65,700 CADLoan Quality Assurance Auditor137,000 CADLoan Quality Assurance Manager156,000 CADLoan Quality Assurance Representative107,000 CADLoan Review Manager165,000 CADLoan Team Leader136,000 CADMortgage Advisor96,100 CADMortgage Collection Manager166,000 CADMortgage Collector47,400 CADMortgage Credit Analyst71,400 CADMortgage Credit Manager154,000 CADMortgage Development Manager181,000 CADMortgage Document Reviewer63,000 CADMortgage Funding Manager191,000 CADMortgage Operations Manager236,000 CADMortgage Payment Processing Clerk53,400 CADMortgage Processing Manager157,000 CADMortgage Processor63,200 CADMortgage Quality Assurance Auditor142,000 CADMortgage Quality Assurance Manager166,000 CADMortgage Servicing Clerk50,000 CADMortgage Servicing Manager163,000 CADMortgage Underwriter57,400 CADOnline Banking Manager234,000 CADPayment Processing Clerk49,000 CADPersonal Banker104,000 CADPersonal Banking Advisor100,000 CADPhone Banker66,600 CADPrivate Banker102,000 CADReconciliation and Investigation Specialist111,000 CADTeller46,900 CADTrade Officer57,200 CADTrade Product Manager168,000 CADTrader72,000 CADTreasury Operations Officer122,000 CAD

Banking Jobs Salary Distribution in Calgary

The median, the maximum, the minimum, and the range

• Salary Range

  Banking salaries in Calgary range from 43,100 CAD per year (minimum average salary) to 281,000 CAD per year (maximum average salary, actual maximum is higher).

• Median Salary

  The median salary is 132,000 CAD per year, which means that half (50%) of people working in Banking are earning less than 132,000 CAD while the other half are earning more than 132,000 CAD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

• Percentiles

  Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 78,600 CAD while 75% of them are earning more than 78,600 CAD. Also from the diagram, 75% of people working in Banking are earning less than 198,000 CAD while 25% are earning more than 198,000 CAD.

What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

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 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.

Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

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.

“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”

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 degrees levels across many jobs, below are our findings.

Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

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 cerificate 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 Canada costs anywhere from 49,800 Canadian Dollar(s) to 149,000 Canadian Dollar(s) 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Canada who work in Banking earn 5% more than their female counterparts on average.

Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Canada for all Careers

Banking Average Annual Salary Increment Percentage in Canada

How much are annual salary increments in Canada for Banking professionals? How often do employees get salary raises?

Banking professionals in Canada are likely to observe a salary increase of approximately 11% every 13 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Canada / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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

“The average salary increase in one year (12 months) in Canada is 7%.”

Annual Increment Rate By Industry 2021

Listed above are the average annual increase rates for each industry in Canada for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.

Worldwide Salary Raises: All Countries and All Jobs

Banking Bonus and Incentive Rates in Canada

How much and how often are bonuses being awarded?Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.17% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 83% 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.Types of Bonuses Considered

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Occasionally, 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.

Granted upon achieving an important goal or milestone.

These 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

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:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.

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.

“Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.”

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.

Banking Hourly Average Wage in Calgary

The average hourly wage (pay per hour) in Calgary is 66 CAD. This means that the average person in Calgary earns approximately 66 CAD for every worked hour.

Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

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 fix 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.

Banking VS Other Jobs

The average salary for Banking is 9% more than that of All Jobs.

Calgary VS Canada

Salary Comparison By City

Calgary137,000 CADEdmonton136,000 CAD

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Canada earn 4% more than their private sector counterparts on average across all sectors.

How much does a bank teller make in Alberta?

Which bank pays its tellers the most?

Which bank pays most for Teller in Canada?

Can you make good money as a bank teller?