Spanish
The Association of Multiple Banks of the Dominican Republic (ABA) stated that digital transformation and the evolution of the banking business model have driven a growing demand for specialized talent, contributing to higher levels of productivity, formality, and remuneration in the Dominican financial sector.
According to a report by the Economic and Banking Studies Directorate of the ABA, the average salary in the financial intermediation sector currently amounts to RD$64,320 per month, a figure 70% higher than the general average reported to the Social Security Treasury (TSS), of RD$38,070 per month.
The ABA explained that these salary levels reflect the sustained investment of financial institutions in human capital, training, innovation, and technological transformation, in response to the growing demand for more agile, digital, and customer-centric financial services.
He indicated that this evolutionary process in the sector has driven the incorporation and strengthening of profiles linked to areas such as data analytics, customer experience, cybersecurity, innovation, regulatory compliance, and operational efficiency, in line with global trends in banking modernization.
Through the report, it was also highlighted that all 43,363 existing jobs in multiple banks correspond to formal employment, as a result of the entities' firm adherence to the legal framework and good practices of the financial market. It added that this level of formality places the segment above the 81% recorded by the financial system in general and the 47% reported for the Dominican labor market as a whole.
"Formal employment is associated with higher-quality jobs, as it results in multiple benefits and economic security for employees and their families, such as higher remuneration and social protection regarding health, the pension system, and other aspects. At the same time, it represents income for the State through taxes and social contributions, which favors the potential for national economic growth," the union stated.
Likewise, the Banks Association noted that, between 2014 and 2025, the productivity index developed for the aforementioned purposes shows a cumulative growth of 64%, with an increase that begins to become more pronounced from 2019, a period from which productivity grew 96%.
According to the entity that brings together the multiple banks operating in the country, these results reflect the impact of the investments made by financial institutions in digital transformation, innovation, process automation, and strengthening of technical and professional capabilities.
In that context, the guild indicated that, in just over a decade, the total number of people employed in multiple banks went from 28,947 in 2014 to 43,363 in 2025, which demonstrates the sector's ability to continue generating formal and quality jobs, even in the midst of an accelerated process of technological modernization.
The ABA indicated that the evolution of the sector has also been reflected in the ability of multiple banks to continue generating formal and specialized jobs. Between 2014 and 2025, the average rate of employment growth in multiple banking was 6.0% per year, higher than that recorded by the financial system as a whole and by the Dominican economy.
"And it is that human capital, understood as the set of knowledge, skills, competencies and values that allows individuals to acquire and increase their levels of productivity and income, is essential to improve the performance of financial institutions and sustain their competitiveness in the long term," concluded the Association of Banks.
