Prices Keep Rising but Wages Don’t? Bankers’ Pay Is Climbing, "Closing In on an Average of 200 Million Won"

[The Financial News] The average annual salary of employees at major domestic financial holding companies and commercial banks is approaching the 200 million won mark. At some financial firms, the average pay is in the high 100 million won range, and at one company it jumped by 26 million won in a single year.
According to the 2025 annual reports on governance and compensation that each company disclosed to the Korea Federation of Banks (KFB) on the 6th, employees at the four major financial holding companies—KB Financial Group, Shinhan Financial Group, Hana Financial Group and Woori Financial Group—received an average of 176 million won in compensation last year. This is up 8.75 million won from 167.25 million won a year earlier.
KB Financial Group recorded the highest compensation. Its employees earned an average of 190 million won last year, an increase of 26 million won from 164 million won the previous year.
For male employees, the average rose from 180 million won to 200 million won, while for female employees it increased from 130 million won to 150 million won, a gain of 20 million won for both. Executives saw their average pay climb from 300 million won to 360 million won, and department heads from 190 million won to 220 million won.
During the same period, the average compensation for employees at Shinhan Financial Group increased from 165 million won to 169 million won, while executives’ pay went from 309 million won to 310 million won. At Hana Financial Group, the average employee compensation rose from 160 million won to 165 million won.
Woori Financial Group kept its average employee compensation at 180 million won, but the average for registered executives increased from 210 million won to 220 million won. Employees at deputy department head level and above saw their average pay rise from 170 million won to 180 million won.
Among the commercial banks under these financial holding companies, the average compensation for employees at KB Kookmin Bank inched up from 118 million won to an estimated 119 million won. Last year’s projected averages by rank were 548 million won for executives, 186 million won for managers and above, and 139 million won for team leaders, while rank-and-file bankers received 94 million won and contract workers 53 million won.
Shinhan Bank and KEB Hana Bank are still compiling last year’s compensation figures and plan to disclose them by April 15. For 2024, Shinhan Bank’s average compensation was 116.1 million won, with registered executives earning 256 million won and non-registered executives 416 million won. Among employees, managers received 177 million won on average and team leaders 132 million won.
Employees at KEB Hana Bank received an average of 120 million won in compensation in 2024. By position, top management earned 339 million won, managers 199 million won, team leaders 142 million won, and staff-level employees 87 million won.
At Woori Bank, the average compensation for employees last year was 121 million won, up 7 million won from 114 million won the previous year. By rank, executives received an average of 326 million won. Among employees, managers and above earned 186 million won, team leaders 135 million won, and rank-and-file staff 84 million won.
bng@fnnews.com Kim Hee-sun Reporter