2023 (FY24) Review of Staff Compensation for the World Bank Group and Awards Allocations - May 23, 2023 - Glossary

Jul 19, 2026

2023 (FY24) provides a comprehensive review of World Bank Group staff compensation and the allocation of related awards funding. It defines key terms such as salary structures, midpoints, performance management ratings, merit elements, and structure adjustment mechanisms, clarifying how HQ and country office settings cap or set merit-related rates. The document also outlines the FY24 total salary increase envelope and senior management increases, then presents WBG awards and summarized recommendations, supported by annexes detailing increases, salary scales, and special compensation measures.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages28

Reading Time1 h 11 min

Executive Summary

Introduction

A.I. Headquarters – Structure Adjustment

A.II. Country Offices – Structure Adjustment

A.III. FY24 Total Salary Increase Envelope

A. IV. Senior Management Salary Increases

A.V. Special Compensation Measures

A.VI. Financial Implications

B. WBG Awards

C. Summary of Recommendations

Annexes

Annex A: 2023 (FY24) Total Salary Increases and Structure Adjustments – Country Offices

Annex B: July 1, 2023 HQ Salary Scale

Annex C: Distribution of FY23 Salary Increases: HQ-appointed staff

Annex D: Country Offices in Irregular Markets

Annex E: Special Compensation Measures

Annex F: WBG Awards

Annex G: IFC Awards Methodology

Public Disclosure Authorized Disc losure Public Disclosure Authorized 2023 (FY24) REVIEW OF STAFF COMPENSATION FOR THE WORLD BANK GROUP AND AWARDS ALLOCATIONS May 23, 2023 Blank Page GLOSSARY | Bank Group or WBG | The World Bank Group (WBG) consists of the International Bank for Reconstruction and Development (IBRD or the Bank), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), International Development Association (IDA), and International Center for the Settlement of Investment Disputes (ICSID) . | | --- | --- | | Board of Directors | The Executive Directors of IBRD, IDA, IFC and MIGA | | Country Office (CO)<br>Staff | For purposes of this paper, Country Office staff refers to locally (country office)-appointed staff in locations outside of HQ. | | FCS/FCV | Fragile and Conflict-affected Situations/Fragile, Conflict and Violence | | HQ | Headquarters based in Washington, D.C. | | HQ Staff | HQ-appointed staff | | Merit Element | Its main objective is to reward performance; it is funded from the budgeted financial resources incurred over the year from the decline in salaries due to turnover (caused by inflows and outflows of staff, where more experienced staff leaving the organization are replaced by new recruits with lower salaries) . The Merit Element is not an addition to the budget. For HQ, the merit element is capped up to 1.5% per year, and for each CO it is set at 1.5% per year. | | Midpoint | The point in the World Bank Group’s salary ranges which aims to be aligned with the 75th percentile of compensation at comparable levels in the respective local labor markets. | | Performance<br>Management System | The WBG system used to annually review staff performance. The WBG has a six-point rating scale ranging from a rating of 1 for‘unsatisfactory’ performance up to a rating of 5 for ‘significantly exceeds expectations’. | | Salary Structure or Salary Scale | The set of salary ranges established for various grade levels. At the WBG, the salary structure or salary scale has 11 salary ranges, from GAto GK. Each grade has a minimum and a maximum (called a salary range) and a midpoint. In some country offices, the scale starts with G1 grade. | | Structure Adjustment | The structure adjustment aligns the salary scales with the increases in labor market salary levels. This represents the increase resulting from aligning the midpoints to the new market values. | | --- | --- | | Total Salary Increase Envelope | An authorized amount of funding for all staff in a given location tobe distributed as individual salary increases based on staff’s performance and position of staff’s salary in the range. | Table of Contents Executive Summary ............................................................................................................................................. 8 INTRODUCTION ................................................................................................................................................... 9 A.I. HEADQUARTERS – STRUCTURE ADJUSTMENT.............................................................................................. 10 A.II. COUNTRY OFFICES – STRUCTURE ADJUSTMENT.......................................................................................... 10 A.III. FY24 TOTAL SALARY INCREASE ENVELOPE ................................................................................................. 11 A. IV. SENIOR MANAGEMENT SALARY INCREASES ............................................................................................. 12 A.V. SPECIAL COMPENSATION MEASURES......................................................................................................... 12 A.VI. FINANCIAL IMPLICATIONS ......................................................................................................................... 13 B. WBG AWARDS ..........................................................................

FAQs

What does the salary structure or salary scale cover in FY24?

It defines salary ranges for grade levels, including minimum and maximum values and a midpoint, with WBG having 11 salary ranges in the referenced structure.

How is the merit element funded and capped for HQ and country offices?

It is funded from budgeted financial resources related to salary decline from turnover, and it is capped at up to 1.5% per year for HQ, with a 1.5% per year setting for each country office.

What is the FY24 total salary increase envelope and how is it used?

It is an authorized amount of funding for all staff in a given location, distributed as individual salary increases based on performance and staff position within the salary range.

Jul 19, 2026

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