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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