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Accounting and Finance Average Salaries in Kuwait 2024

How much money does a person working in Accounting and Finance make in Kuwait?


Average Monthly Salary
1,310 KWD
( 15,700 KWD yearly)

LOW
530
KWD
AVERAGE
1,310
KWD
HIGH
2,610
KWD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Accounting and Finance in Kuwait typically earns around 1,310 KWD. Salaries range from 530 KWD (lowest average) to 2,610 KWD (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Kuwait exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner700 KWD
Account Executive1,120 KWD
Accountant910 KWD
Accounting Analyst1,080 KWD
Accounting Assistant730 KWD
Accounting Associate690 KWD
Accounting Clerk560 KWD
Accounting Coordinator840 KWD
Accounting Head1,770 KWD
Accounting Manager1,880 KWD
Accounting Officer660 KWD
Accounting Specialist1,230 KWD
Accounting Supervisor1,230 KWD
Accounting Technician670 KWD
Accounting Unit Controller1,490 KWD
Accounts Executive1,190 KWD
Accounts Officer720 KWD
Accounts Payable and Receivable Specialist940 KWD
Accounts Payable Assistant740 KWD
Accounts Payable Associate800 KWD
Accounts Payable Clerk670 KWD
Accounts Payable Manager1,800 KWD
Accounts Receivable Administrator1,390 KWD
Accounts Receivable Clerk690 KWD
Accounts Receivable Financial Analyst1,280 KWD
Accounts Receivable Manager1,830 KWD
Accounts Receivable Team Leader1,290 KWD
Algorithmic Trading Specialist1,620 KWD
Assistant Accountant730 KWD
Assistant Accounting Manager1,680 KWD
Assistant Auditor930 KWD
Assistant Corporate Controller1,290 KWD
Assistant Finance Manager1,900 KWD
Assistant Financial Controller1,270 KWD
Audit Director2,180 KWD
Audit Supervisor1,680 KWD
Auditing Clerk720 KWD
Auditing Manager1,830 KWD
Billing Clerk730 KWD
Billing Coordinator800 KWD
Billing Specialist980 KWD
Billing Supervisor1,410 KWD
Bookkeeper620 KWD
Bookkeeping Specialist910 KWD
Budget Analyst1,630 KWD
Budget Manager1,800 KWD
Business Support Analyst1,050 KWD
Capital Markets Associate1,360 KWD
Cash Flow Analyst1,340 KWD
Cash Management Manager1,780 KWD
Cash Management Officer1,050 KWD
Cashbook Clerk620 KWD
Chartered Accountant1,180 KWD
Chief Accountant1,310 KWD
Chief Financial Technology Officer1,910 KWD
Collections Clerk580 KWD
Collections Representative800 KWD
Collections Specialist920 KWD
Corporate Controller1,430 KWD
Corporate Treasurer1,730 KWD
Cost Accountant880 KWD
Cost Accounting Manager1,820 KWD
Cost Accounting Supervisor1,440 KWD
Cost Analyst1,480 KWD
Credit and Collection Manager1,740 KWD
Credit and Collection Staff710 KWD
Credit and Loans Officer680 KWD
Credit Controller1,260 KWD
Credit Manager2,000 KWD
Debt Adviser1,580 KWD
Debt Collector710 KWD
Debtors Clerk660 KWD
Debtors Controller660 KWD
Deputy CFO2,460 KWD
Deputy Head of Finance2,540 KWD
Derivative Trader1,530 KWD
Director of Finance2,830 KWD
E-commerce Accountant920 KWD
Economist2,180 KWD
Equity Analyst1,610 KWD
Escrow Assistant790 KWD
Executive Accountant1,060 KWD
External Auditor1,250 KWD
Finance Administrator1,060 KWD
Finance Analyst1,700 KWD
Finance Associate800 KWD
Finance Data Analyst1,420 KWD
Finance Director2,760 KWD
Finance Executive1,900 KWD
Finance Licensing Clerk650 KWD
Finance Licensing Manager1,750 KWD
Finance Licensing Specialist1,000 KWD
Finance Manager2,660 KWD
Finance Officer870 KWD
Finance President2,830 KWD
Finance Relationship Manager2,050 KWD
Finance Release Analyst1,070 KWD
Finance Specialist1,440 KWD
Finance Team Leader 2,110 KWD
Financial Accountant890 KWD
Financial Actuary1,420 KWD
Financial Administrator1,540 KWD
Financial Advisor1,610 KWD
Financial Analyst1,730 KWD
Financial Applications Specialist1,130 KWD
Financial Assistant740 KWD
Financial Associate710 KWD
Financial Associate860 KWD
Financial Claims Analyst1,270 KWD
Financial Claims Manager1,700 KWD
Financial Claims Supervisor1,450 KWD
Financial Clerk670 KWD
Financial Commercial Analyst1,350 KWD
Financial Compliance Analyst1,480 KWD
Financial Compliance Officer1,420 KWD
Financial Consultant1,240 KWD
Financial Controller1,480 KWD
Financial Controller1,510 KWD
Financial Coordinator860 KWD
Financial Customer Service Manager1,610 KWD
Financial Data Scientist1,690 KWD
Financial Dealer and Broker1,020 KWD
Financial Director2,710 KWD
Financial Encoder760 KWD
Financial Manager2,440 KWD
Financial Manager2,460 KWD
Financial Modelling Analyst1,660 KWD
Financial Operations Manager2,270 KWD
Financial Policy Analyst1,400 KWD
Financial Project Manager1,890 KWD
Financial Quantitative Analyst1,530 KWD
Financial Reporting Consultant1,350 KWD
Financial Reporting Manager1,730 KWD
Financial Section Head1,770 KWD
Financial Services Manager2,270 KWD
Financial Services Sales Agent1,010 KWD
Financial Technology Consultant1,470 KWD
Financial Wellness Coach1,950 KWD
FinTech Analyst1,500 KWD
Fixed Assets Administrator930 KWD
Forensic Accountant1,030 KWD
Fraud Detection Supervisor1,100 KWD
Fraud Prevention Manager1,850 KWD
Fund Accountant880 KWD
Grants Coordinator710 KWD
Green Finance Analyst1,410 KWD
Group Financial Manager2,750 KWD
Internal Auditor1,220 KWD
Internal Control Adviser1,410 KWD
Internal Control Officer790 KWD
International Tax Director2,110 KWD
Inventory Accountant950 KWD
Investment Advisor2,510 KWD
Investment Analyst1,880 KWD
Investment Associate1,560 KWD
Investment Broker1,460 KWD
Investment Fund Manager2,100 KWD
Investment Operations Manager1,980 KWD
Investment Underwriter810 KWD
Investor1,170 KWD
Investor Relations Manager1,850 KWD
KYC Team Leader1,840 KWD
Loan Processor720 KWD
Management Accountant990 KWD
Management Economist2,140 KWD
Paymaster760 KWD
Payroll Administrator1,240 KWD
Payroll Benefits Coordinator980 KWD
Payroll Billing Manager1,640 KWD
Payroll Clerk830 KWD
Payroll Manager1,600 KWD
Payroll Officer800 KWD
Payroll Specialist970 KWD
Payroll Supervisor1,130 KWD
Pensions Administrator980 KWD
Personal Financial Advisor1,340 KWD
Pricing Analyst1,450 KWD
Private Equity Analyst1,700 KWD
Project Accountant1,010 KWD
Proposal Development Coordinator820 KWD
Quantitative Trader1,330 KWD
Receivables Accountant830 KWD
Regulatory Accountant1,050 KWD
Retirement Plan Analyst1,430 KWD
Revenue Management Specialist1,510 KWD
Revenue Recognition Analyst1,690 KWD
Risk Management Director2,270 KWD
Risk Management Supervisor1,890 KWD
Staff Accountant890 KWD
Tax Accountant870 KWD
Tax Administrator990 KWD
Tax Advisor1,420 KWD
Tax Analyst1,440 KWD
Tax Associate800 KWD
Tax Consultant1,520 KWD
Tax Director2,030 KWD
Tax Examiner970 KWD
Tax Manager1,800 KWD
Tax Research Manager1,820 KWD
Teller540 KWD
Treasury Accountant960 KWD
Treasury Analyst1,560 KWD
Underwriter640 KWD
Underwriting Assistant610 KWD
Vice President of Finance2,450 KWD


Accounting and Finance Jobs Pay Scale and Salaries in Kuwait

Median and salary distribution Kuwait Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
1,310 KWD or more
10% of people earn
1,110 to 1,310 KWD
20% of people earn
670 KWD or less
65% of people earn
670 to 1,110 KWD
Minimum Salary
530 KWD
Median
1,150 KWD
Maximum
2,610 KWD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Accounting and Finance in Kuwait range from 530 KWD (starting average salary) to 2,610 KWD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 1,150 KWD, implying that half of the workforce in Kuwait earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Kuwait earn less than 900 KWD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 1,390 KWD, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Kuwait. The analysis revealed that roughly 65% of all reported salaries fell within the range of 670 KWD to 1,110 KWD. Approximately 20% of salaries were below the 670 KWD mark, while 10% ranged from 1,110 KWD to 1,310 KWD. Only 5% of individuals earned a gross salary of 1,310 KWD or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Accounting and Finance in Kuwait having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Accounting and Finance in Kuwait, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Kuwait costs anywhere from 6,350 KWD to 19,000 KWD and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / Kuwait

Salary comparison by gender Kuwait Accounting and Finance monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Accounting and Finance in Kuwait, the average difference between the salary of male and female employees is 8%.

Male
1,350 KWD
Female-7%
1,260 KWD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Kuwait for all Careers

Salary comparison by gender monthly Kuwait
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Average Annual Salary Increment Percentage / Accounting and Finance / Kuwait

How much are annual salary increments in Kuwait for individuals working in Accounting and Finance? How often do employees get salary raises?

Professionals working in Accounting and Finance in Kuwait are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kuwait Accounting and Finance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Kuwait / All Professions

Annual Salary Increment Rate Kuwait
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Kuwait is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Accounting and Finance / Kuwait

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kuwait Accounting and Finance
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44% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
56%
No Bonus
44%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Accounting and Finance / Kuwait


8 KWD per hour

The average hourly wage (pay per hour) in Accounting and Finance in Kuwait is 8 KWD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Accounting and Finance in Kuwait is 3 KWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Kuwait is 10% on average across all career fields.

Private Sector
1,230 KWD
Public Sector+10%
1,360 KWD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Accounting and Finance in Kuwait?

A good and competitive compensation would range anywhere between 1,150 KWD and 1,390 KWD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Accounting and Finance in Kuwait ranges from 530 KWD to 900 KWD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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