The Average Annual Salary at the Four Major Banks Surpasses 100 Million Won... Who Ranks First?

Last year, the average annual salary of employees at the four major domestic banks all surpassed 100 million KRW.

According to the business reports of KB Kookmin, Shinhan, Hana, and Woori Banks on the 18th, the average annual salary of employees at the four major banks last year reached 112.75 million KRW. Looking at each bank, the average annual salary of KB Kookmin Bank employees last year was 116 million KRW, and Shinhan Bank recorded 113 million KRW. Hana Bank's average salary was 117 million KRW, the highest among the four major banks. Woori Bank employees' average annual salary, which was 97 million KRW in 2021, reached 105 million KRW last year. The era of an average annual salary of 100 million KRW has opened for all four major banks.

Among the heads of the four major banks, the highest-paid was Lee Jae-geun, CEO of KB Kookmin Bank, who received 1.396 billion KRW. Former Hana Bank CEO Park Sung-ho (currently Vice Chairman of Hana Financial Group) received 1.016 billion KRW, former Shinhan Bank CEO Jin Ok-dong (designated Shinhan Financial Group Chairman) received 825 million KRW, and Woori Bank CEO Lee Won-duk followed with 561 million KRW.

Last year, the average annual salary of employees at internet-only banks also surpassed 100 million KRW, overtaking commercial banks. According to the '2022 Annual Report on Governance and Compensation Systems' disclosed by each internet-only bank, the average annual salary of Toss Bank employees last year was 119 million KRW, which was 2 million KRW higher than Hana Bank, the top among the four major banks.

Kakao Bank employees' average annual salary was 146 million KRW, the highest level in the banking sector. This included stock option exercise gains (54.2 billion KRW), but even excluding this, the average was about 107 million KRW. K Bank employees' average annual salary was 96 million KRW, falling short of 100 million KRW.