Central Banking Benchmarking

Printing is the most outsourced area of the cash cycle

Just over 60% of survey respondents contract out currency printing

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Salaries are most influenced by national wealth

There is a relatively clear positive correlation between a country’s GDP per capita and the amount its central bank pays its reserve managers in salary (excluding pension and other benefits). This may help to explain why the European respondents have the highest average salary. Relative to per capita GDP, however, an Asian country pays its reserve managers the most, and the joint-lowest paying central bank is European, tied with an African central bank, highlighting the wide variation within regional groupings.

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