How much do bank managers make?

[HavocXphere]

Actually you do with ABSA, my ex-boet in law has buried himself into a low interest debt hole as a senior staff member at ABSA. I was amazed at how much debt he could accumulate when he first started off with them and last I hear he made the debt-curcule bigga!

Get massive loan at below market rate & put it into floating gov bonds = flawless win.

Anything lower than prime less ~2% is a license to print risk free money. And I'm pretty sure a bank employee should easily get that.

Did some research. Good grief : http://joblistsouthafrica.com/capitec-bank-branch-manager.html/

R 180,000 per annum.

Wow.

I don't think the branch manager is the head honcho at a branch. I believe its similar to COO vs CEO.

 

[cerebus]

Well really how much specialised expertise must a bank manager have? It's not much more complicated than being a supermarket manager - they tend to start out behind the desks and work upwards by experience. I'm not at all surprised by that level of salary.

 

[techead]

i would have thought that they would earn more...

in this case I count myself very blessed and grateful for the job/salary I have

shew

 

[The_Ogre]

A friend of my wife's is some sort of teller at Nedbank and she told my wife she's getting R8 000 per fortnight.

So that 180k Capitec pays mentioned earlier is probably much more at the bigger banks for management level

 

[techead]

A friend of my wife's is some sort of teller at Nedbank and she told my wife she's getting R8 000 per fortnight.

So that 180k Capitec pays mentioned earlier is probably much more at the bigger banks for management level

might be a teller that works in the foreign exchange section, they require more knowledge on laws, currency, SARS, regulations etc etc so they would probably earn more.

Would be interested to hear what kind of teller she works at?

 

[The_Ogre]

Would be interested to hear what kind of teller she works at?

I'm not sure to be honest.

I do however know that she called my wife a few weeks back to find out if my wife doesn't want to open two savings accounts for our kids. So I'm not sure if she's one of those "consultant" type workers or an actual teller working with money

 

[cerebus]

For a regular teller at any bank 8,000 clear a fortnight is ridiculously high. She must be doing some kind of forex like techead said or consultancy role.

 

[Billy]

In previous times, Bank Managers had more control on loans and overdrafts. That has now been computerised and centralised. The job has been downgraded, and is now more like the Supermarket example.

It used to be worth knowing the local bank manager, because he could pull strings. Those days have gone.

 

[danlr]

Agree, Bank Managers has little to no authority/decision making ability. All decisions are centralised/automated with parameters.

So bank manager might have some discretion but very little of real (or any value)

They might be able to authorise a write-off of a few hundred RRR but not much more

 

[BobsLawnService]

"Computer says no."

 

[Jhercules]

I had to do a guys tax last year, branch manager @ ABSA, but I believe he also oversees 2 other branches in his region. He makes 300K/year...

 

[Picard]

I had to do a guys tax last year, branch manager @ ABSA, but I believe he also oversees 2 other branches in his region. He makes 300K/year...

If he's a branch manager of a bank, doesn't he have enough skill to do his own tax?

 

[Jhercules]

I'm sure he does. He is family of one of our partners so we handle all stuff including his 2 Trusts.

 

[CyraxHB]

At the bank I work for, the lowest manager grade has a salary range of between R260k and R570k per year.