Average Annual Salary for Managers at Woori and Nonghyup Banks: Female Employees Outpace Male Counterparts

Compensation Disclosure at the Five Major Banks
For General Staff, Female Employees Earn More at KB Kookmin and Woori Banks

Among the five major commercial banks in South Korea, Woori Bank and NH Nonghyup Bank were found to have a higher average compensation for female employees at the manager level and above compared to their male counterparts.

ATMs of major banks installed in downtown Seoul. Photo by Yongjun Cho jun21@

According to the financial industry on March 6, KB Kookmin Bank, Shinhan Bank, Woori Bank, Hana Bank, and NH Nonghyup Bank are sequentially disclosing their “2025 Governance and Compensation System Annual Report,” which includes annual salary data by position and gender.

According to the report, at Woori Bank, the average compensation for employees at the manager level or above last year was 183 million won for men and 192 million won for women. This means female employees received 9 million won more on average than their male counterparts.

At NH Nonghyup Bank, the average compensation for female employees at the manager level or above was also higher. Men received an average of 191 million won, while women received 193 million won, with female employees earning 2 million won more.

At Hana Bank, the average compensation for male and female employees at the manager level or above was the same, at 199 million won each. However, this is based on 2024 figures, as the 2025 data has not yet been disclosed.

In contrast, at KB Kookmin Bank and Shinhan Bank, the average compensation for male employees at the manager level or above was higher than that of female employees. At KB Kookmin Bank, men received 188 million won and women 181 million won, with men earning 7 million won more. At Shinhan Bank, men earned 177 million won and women 175 million won, with male employees receiving 2 million won more. These figures are also based on 2024 data.

There were also differences among the banks in the average compensation for general staff and below.

At KB Kookmin Bank, the average compensation for men was 90 million won, while for women it was 95 million won, meaning female employees were paid more. Woori Bank also showed a slightly higher average for women, with men earning 83 million won and women 84 million won.

On the other hand, at Shinhan Bank, men received 75 million won and women 68 million won, with men earning more. At Hana Bank, men earned 94 million won and women 85 million won, again with men receiving a higher average compensation. At NH Nonghyup Bank, men earned 89 million won and women 70 million won, showing a relatively larger gap.

This content was produced with the assistance of AI translation services.