Compensation and Benefits
Samba's compensation packages are designed to attract the best talent and retain motivated employees, to ensure its continued success. In addition to a very competitive basic salary and allowances, Samba offer additional rewards to employees in the form of fixed and variable compensation such as:
- Employee Savings Incentive Plan (ESIP)
- Long Term Bonus Plan (LTBP) and or Employee Share Schemes
As a part of a monthly remuneration to its employees, Samba provides the following:
An excellent starting basic salary, comparable with other major financial institutions in KSA. Salaries are reviewed annually as a part of the staff progression and take into account performance. Samba also award variable compensation / bonuses as well as contributes towards social insurance in accordance with the applicable laws.
A housing allowance equivalent to four months basic salary is provided.
In addition to Government and public holidays, Samba allows 30 calendar days of vacation per calendar year to its employees. A vacation or leave allowance of one months' basic salary is paid at the time of availing vacation. Staff members earn an additional seven calendar days of vacation per calendar year upon completing five consecutive years of service in the bank.
- Cash Flow
In line with the policy, the bank has an arrangement in place to assist employees in meeting their personal needs through a cash flow loan up to 30% of the eligible employee's annual basic salary.
Subject to the policy of the bank, eligible Saudi employees may apply for a housing loan. The loan is meant to assist employees who intend to own a home and provides financial assistance to them.
Medical and Maternity/Delivery
An excellent health insurance Program is offered, covering in-patient, out-patient and maternity treatments in coordination with a renowned and reputed service provider.
The bank provides life insurance coverage equivalent to one annual basic salary to its employees in case of a sad demise while in the service of the bank. Additionally, the employee's family (beneficiaries) will also receive a payment equivalent to the deceased employee's one year's annual basic salary.