Home > Salary > Kuwait > Bank Reconciliation Specialist
A bank reconciliation specialist is responsible for ensuring the accuracy and integrity of financial transactions between a company's bank accounts and its internal records. They meticulously compare and analyze bank statements, general ledger entries, and other financial documents to identify discrepancies or errors. Their primary objective is to reconcile any differences and ensure that all transactions are properly recorded.
The specialist also investigates and resolves any outstanding issues related to bank transactions, such as missing deposits or unauthorized withdrawals. They communicate with banks and internal departments to gather necessary information, clarify discrepancies, and implement corrective actions. Additionally, they may assist in developing and implementing internal controls and procedures to prevent future discrepancies.
Estimated Yearly Salary: 28,051 KWD
Estimated Monthly Salary: 2,338 KWD
Estimated Weekly Salary: 539 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Values are pre-tax
Last revision of data: 2025-01-04
Estimated Monthly Salary: 2,253 KWD
Estimated Weekly Salary: 520 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Last revision of data: 2024-02-05
Estimated Yearly Salary: 9,356 USD
Estimated Monthly Salary: 780 USD
Estimated Weekly Salary: 180 USD per week
Estimated Hourly Salary: 4 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %
Data confidence is - relatively high
Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Estimated Yearly Salary: 28,051 KWD
Estimated Monthly Salary: 2,338 KWD
Estimated Weekly Salary: 539 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Our data indicates that by working as Bank Reconciliation Specialist you will not be able to save much money and will likely need to make adjustments to your lifestyle to go comfortably through the month.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Kuwait, see costs of living in Kuwait.
Estimated Yearly Salary for Bank Reconciliation Specialist
Last revision of data: 2025-01-04
Data as of 2025
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Bank Reconciliation Specialist salary in Kuwait
Average Yearly Salary of Bank Reconciliation Specialist in Kuwait is approximately 28,051 KWD (9,356 USD). Data is for 2025 and indicates a pre-tax value. The salary itself depends on multiple factors such as seniority, job performance, certifications, experience or any other bonuses. The value indicated is an average amount based on records we have in database. Real values may vary. The data is for orientational purposes.
What does Bank Reconciliation Specialist do?
A bank reconciliation specialist is responsible for ensuring the accuracy and integrity of financial transactions between a company's bank accounts and its internal records. They meticulously compare and analyze bank statements, general ledger entries, and other financial documents to identify discrepancies or errors. Their primary objective is to reconcile any differences and ensure that all transactions are properly recorded.
The specialist also investigates and resolves any outstanding issues related to bank transactions, such as missing deposits or unauthorized withdrawals. They communicate with banks and internal departments to gather necessary information, clarify discrepancies, and implement corrective actions. Additionally, they may assist in developing and implementing internal controls and procedures to prevent future discrepancies.
Skills: Bank reconciliation, Financial analysis, Accounting, Financial transactions, Error detection, Problem-solving
Job industry: Finance
Job industry: Finance
How much does Bank Reconciliation Specialist make?
Salary details
How much does Bank Reconciliation Specialist make?Estimated Yearly Salary: 28,051 KWD
Estimated Monthly Salary: 2,338 KWD
Estimated Weekly Salary: 539 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Values are pre-tax Last revision of data: 2025-01-04Comparing salary to last year:
Estimated Yearly Salary: 27,032 KWDEstimated Monthly Salary: 2,253 KWD
Estimated Weekly Salary: 520 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Last revision of data: 2024-02-05Bank Reconciliation Specialist estimated salary in USD
For easier comparison here is an estimated salary in USD:Estimated Yearly Salary: 9,356 USD
Estimated Monthly Salary: 780 USD
Estimated Weekly Salary: 180 USD per week
Estimated Hourly Salary: 4 USD per hour
Difference in salary year over year or average salary increase is approximately
4 %About these results
Data confidence is - relatively high Data fetched from dabase: 14 submissions.
Results are anonymized. Amounts indicated are pre-tax, meaning no deductionts yet have been made to the basic salary. Salaries where there are less than 3 entries are not displayed.
Want to check how your salary compares? Submit your own salary here
Compare salary to other countries
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Country:
Salary comparison to National average
Kuwait is a small country located in the Middle East. It has a population of approximately 4 million people and covers an area of around 17,818 square kilometers. The country is bordered by Saudi Arabia to the south and Iraq to the north.
Estimated national average yearly salary is 12,300 KWD (40,000 USD). Value indicated is pre-tax. Below graph shows estimated Bank Reconciliation Specialist job salary compared to average salary in Kuwait.
Comparison shows that a person working as Bank Reconciliation Specialist in Kuwait earns on average:
2.28 times the average salary (or 228% of average salary).
Estimated national average yearly salary is 12,300 KWD (40,000 USD). Value indicated is pre-tax. Below graph shows estimated Bank Reconciliation Specialist job salary compared to average salary in Kuwait.
Comparison shows that a person working as Bank Reconciliation Specialist in Kuwait earns on average:
2.28 times the average salary (or 228% of average salary).
Is Bank Reconciliation Specialist a well paid job?
Yes, our data show that Bank Reconciliation Specialist is a very well paid job. With years and experience the salary might increase even further, resulting in higher satisfaction.What is considered a high salary for Bank Reconciliation Specialist?
High salary for Bank Reconciliation Specialist would be somewhere between 30,856 KWD and 40,674 KWD. However this is an estimation based on Gaussian Distribution.How much can you save working as Bank Reconciliation Specialist in Kuwait?
Living in Kuwait the approximate monthly expenses are: 1,600 USD. This amount covers basic needs such as food, housing, clothing, healthcare and education costs for a single person. No luxury expenses such as traveling, leisure, hobbies are included in the estimation.Estimated Yearly Salary: 28,051 KWD
Estimated Monthly Salary: 2,338 KWD
Estimated Weekly Salary: 539 KWD per week
Estimated Hourly Salary: 13 KWD per hour
Our data indicates that by working as Bank Reconciliation Specialist you will not be able to save much money and will likely need to make adjustments to your lifestyle to go comfortably through the month.
NOTE: These values are estimates and are averaged for the whole country. Furthermore the value is likely exaggerated as no other expenses are taken into account in the projection. Unessential expenses are very subjective and are difficult to assess. Most likely the previously estimated number is significantly lower for majority of people. Expenses in different cities across the country may vary. Above values accuracy is low and is based on limited set of data obtained.
For more information regarding expenses in Kuwait, see costs of living in Kuwait.
Salary comparison to region and neighbouring coutries
Country's neighbours are: Saudi Arabia, Iraq. To make it easier for comparison a conversion from local currency to USD has been made (conversion rates may vary).Estimated Yearly Salary for Bank Reconciliation Specialist
Saudi Arabia is 19,327 USD
Iraq is 4,182 USD
Last revision of data: 2025-01-04Salary increase per years of experience
Based on data available the salary increase per years of experience is as following- 0 years (beginner) equals base salary
- 1 to 5 years of experience yields
+12% salary increase- 6 to 10 years of experience yields
+25% salary increase- 11 to 15 years of experience yields
+16% salary increase- 16 to 25 years of experience yields
+9% salary increase- more than 25 years of experience yields
+10% salary increaseTop 10 highest salaries in Kuwait
(419,012 KWD per year, pre-tax.)
2. Cardiologist
(348,639 KWD per year, pre-tax.)
(336,866 KWD per year, pre-tax.)
4. Neurosurgeon
(324,311 KWD per year, pre-tax.)
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(317,580 KWD per year, pre-tax.)
(317,445 KWD per year, pre-tax.)
(317,318 KWD per year, pre-tax.)
9. Urologist
(317,161 KWD per year, pre-tax.)
10. Plastic surgeon
(316,850 KWD per year, pre-tax.)
Data as of 2025Random salary:
Account payable specialist (22,568 KWD per year, pre-tax.)
Russian translator (22,568 KWD per year, pre-tax.)
Press operator (27,032 KWD per year, pre-tax.)
Intellectual property (ip), attorney (110,308 KWD per year, pre-tax.)
Ultrasound applications specialist (49,504 KWD per year, pre-tax.)
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