Bankers' Average Salaries Surpass W100 Million

  • By You So-yeon

    January 16, 2023 11:26

    Average salaries at Korea's top five banks surpassed W100 million a year for the first time in 2021, and the top 10 percent of employees earned almost double that (US$1=W1,241).
    According to the Financial Supervisory Service on Sunday, KB Kookmin Bank paid the highest salaries at W110.7 million, followed by Shinhan Bank's W105.3 million, KEB Hana Bank's W105.2 million, Woori Bank's W101.7 and NH Nonghyup's W101.6 million.
    The average top 10 percent salaries at KB Kookmin were W198 million, at KEB Hana W196 million, at Shinhan W192 million, at Woori W185 million and at NH Nonghyup W178 million.
    Salaries at the top four except NH Nonghyup rose 7.7 percent from a year earlier even though staff's productivity lagged behind upstart internet banks. Their average per-capital productivity was W265 million, compared to W349 million at Kakao Bank.
    Salaries rose again last year due to higher bonuses, but the figures have not been published yet.
    According to financial information service FnGuide, the top four lenders are projected to have earned a record W66 trillion in interest profits last year, while net profits surpassed W16 trillion.
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