Governors’ salaries tend to rise with country income
Low income developing countries less likely to disclose data
Central bank governors’ salaries tend to be commensurate to their country’s income level, the Governance Benchmarks 2024 reveals.
Twenty-seven of 44 central banks disclose governors’ annual salaries, for an average of $255,282. Compensation in dollar terms varies from $1,072,197 to $175,088. Respondents give figures in local currency and Central Banking converts this to dollars for comparison.
A break down of the sample by income level reveals further variation. Governors in high income
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More on Governance
Governance Benchmarks 2024 – model banks analysis
Additional breakdowns of the data reveal details of central bank powers, staffing and more
Governance Benchmarks 2024 report – central banks’ core processes
The benchmarks shed light on central bank profitability and distributions, independence and more
Central banks reveal top staffing constraints
Career progression limits, skills gaps and red tape identified as challenges
Most high income central banks lack formal recapitalisation agreements
Seven respondents report launching recapitalisation in past year
Central banks’ profit distribution widely agreed with governments
Few institutions have arrangements with other parties or private shareholders
Two-thirds of central banks report profit in last fiscal year
Few institutions seek recapitalisation and technological advancement for operational goals
Board non-execs more likely to be appointed by governments
Middle income central banks tend to have more government officials on board
Central bank independence usually safeguarded by law
But one in 10 respondents see their autonomy threatened
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