Let us put some things into consideration before going into the topic: World Bank Salary. We are also going to be considering the following sub-topics: Economist World Bank Salary, World Bank Consultant Salary, World Bank Salary Scale and President of the World Bank Salary.
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World Bank Salary
The World Bank is an international agency for development that offers financial and technical support to developing nations all over the world. The pay of World Bank personnel varies according to their position, amount of education, and experience.
The four categories of World Bank employees include professional, managerial, administrative, and support staff. The pay scales for these groups are decided upon through discussions with staff associations and are based on the cost of living in the Washington, D.C. metropolitan region, where the World Bank is headquartered.
Professional staff members at the World Bank typically hold graduate degrees in a range of disciplines, including economics, finance, engineering, and environmental science. These workers frequently hold jobs like economists, industry experts, and project managers. Professional workers earn between $80,000 and $170,000 annually, depending on their degree of education and expertise.
Leading teams and supervising the work of other employees are the responsibilities of managerial professionals at the World Bank. The median salary range for managerial personnel working in these jobs, which typically call for a high level of experience and skill in a particular subject, is between $90,000 and $200,000.
The World Bank’s administrative staff handles a range of administrative and support duties, including communications, finance, and human resources. These jobs typically pay between $50,000 and $100,000 a year in salary.
The World Bank’s support personnel performs a wide range of duties relating to the upkeep and management of the organization’s buildings. These jobs typically pay between $40,000 and $70,000 annually in salary.
It’s important to note that the World Bank also provides a variety of fellowship and internship opportunities for college students and new graduates, giving them the chance to get crucial experience in international development. These programs normally don’t pay salaries but occasionally offer stipends to help with living expenses.
Economist World Bank Salary
A World Bank economist’s compensation is difficult to estimate because it depends on a variety of variables, including the person’s amount of education and experience, their job grade and level, and the location of their post.
The wage structure at the company is based on a grade and step system, with each grade corresponding to a certain degree of duties and qualifications, according to the material on the World Bank Group website. The grade levels at which economists are frequently hired at the World Bank range from GL-7 to GL-11.
The World Bank offers salaries that are generally comparable to those of other international organizations and are dependent on the regional cost of living in the country where the position is located. Employees of the World Bank may also be qualified for perks such as housing stipends, education stipends for dependents, and health insurance in addition to base pay.
At The World Bank, an economist’s annual salary is reported to be $139,014. In our proprietary Total Pay Estimate model, which is based on wages gathered from our customers, this value indicates the median, which is the middle of the range. $120,481 is the expected base salary annually. $18,533 per year is the expected increased compensation. Bonuses, stocks, commissions, profit-sharing, and tips are all possible forms of additional compensation. The values in the “Most Likely Range” fall between the 25th and the 75th percentile of all the payment information that is currently available for this role.
World Bank Consultant Salary
A consultant’s pay at the World Bank might differ depending on a variety of variables, including the consultant’s level of education and experience, the particular project they are working on, and the project’s location.
The World Bank Group’s website states that consultants at the organization are often employed on an as-needed basis to offer expertise and help in a particular area. Both individually and as a member of a consulting firm, consultants might be engaged.
The World Bank typically pays consultants a daily rate for the duration of their assignment. This charge is dependent on the complexity and length of the project as well as the individual’s credentials and expertise. Depending on the conditions of their contract, consultants may also be eligible for additional benefits including travel and living expenses.
The anticipated total salary for a Consultant at The World Bank is USD 117,441 per year. In our proprietary Total Pay Estimate model, which is based on wages gathered from our customers, this value indicates the median, which is the middle of the range. The expected basic compensation is USD 105,730 per year. The expected additional salary is USD 11,711 per year. Bonuses, stocks, commissions, profit-sharing, and tips are all possible forms of additional compensation. The values in the “Most Likely Range” fall between the 25th and the 75th percentile of all the payment information that is currently available for this role.
World Bank Salary Scale
The WBG’s pay scale for employees varies according to a number of variables, such as the employee’s amount of experience, education, and particular job within the company. The WBG categorizes staff positions and establishes pay scales using a system of grades. P-1 (entry-level) through P-8 is the available grades (senior level). There are various phases that correspond to varying degrees of responsibility and experience within each grade.
Salary levels at the WBG are generally competitive and on par with those in the private sector. The WBG also provides a full range of benefits, such as health insurance, retirement programs, and financial aid for education.
It’s significant to note that the WBG’s pay scale is subject to modification and may alter depending on the location of the employee’s employment. You might want to get in touch with the WBG directly if you want more specific information on salary there.
From roughly $44,142 per year for a support specialist to $229,737 per year for a senior medical officer, the average World Bank wage is wide. Editorial assistants at the World Bank typically earn $17.32 per hour, while user experience designers get $50 per hour.
In the last 36 months, Indeed has accumulated 975 data points on employees, users, and previous and present job adverts in order to determine salaries.
Please be aware that all pay ranges are estimates based on Indeed submissions from third parties. Users of Indeed are merely provided with these numbers for general comparison purposes. For an accurate compensation estimate, you should speak with the company as minimum wages may vary by jurisdiction.
President of the World Bank Salary
The Board of Directors of the World Bank sets the President of the World Bank Group’s compensation. David Malpass has been serving in this capacity as the World Bank Group’s president since April 2019. The amount of Mr Malpass’s compensation isn’t made public. An international financial organization called the World Bank offers loans, financial guarantees, and other forms of support to developing nations in an effort to fight poverty and advance economic growth. The World Bank Group President is in charge of steering the institution, overseeing daily operations, and establishing its overarching direction and strategy.
A President at The World Bank is thought to earn a yearly salary of $385,322. In our proprietary Total Pay Estimate model, which is based on wages gathered from our customers, this value indicates the median, which is the middle of the range. $190,368 is the expected base salary annually. $194,954 annually is the expected increased compensation. Bonuses, stocks, commissions, profit-sharing, and tips are all possible forms of additional compensation. The values in the “Most Likely Range” fall between the 25th and the 75th percentile of all the payment information that is currently available for this role.
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