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
Accounting and Finance | |
Account Examiner | 700 KWD |
Account Executive | 1,120 KWD |
Accountant | 910 KWD |
Accounting Analyst | 1,080 KWD |
|
Accounting Assistant | 730 KWD |
Accounting Associate | 690 KWD |
Accounting Clerk | 560 KWD |
Accounting Coordinator | 840 KWD |
Accounting Head | 1,770 KWD |
Accounting Manager | 1,880 KWD |
Accounting Officer | 660 KWD |
Accounting Specialist | 1,230 KWD |
Accounting Supervisor | 1,230 KWD |
Accounting Technician | 670 KWD |
Accounting Unit Controller | 1,490 KWD |
Accounts Executive | 1,190 KWD |
Accounts Officer | 720 KWD |
Accounts Payable and Receivable Specialist | 940 KWD |
Accounts Payable Assistant | 740 KWD |
Accounts Payable Associate | 800 KWD |
Accounts Payable Clerk | 670 KWD |
Accounts Payable Manager | 1,800 KWD |
Accounts Receivable Administrator | 1,390 KWD |
Accounts Receivable Clerk | 690 KWD |
Accounts Receivable Financial Analyst | 1,280 KWD |
Accounts Receivable Manager | 1,830 KWD |
Accounts Receivable Team Leader | 1,290 KWD |
Algorithmic Trading Specialist | 1,620 KWD |
Assistant Accountant | 730 KWD |
Assistant Accounting Manager | 1,680 KWD |
Assistant Auditor | 930 KWD |
Assistant Corporate Controller | 1,290 KWD |
Assistant Finance Manager | 1,900 KWD |
Assistant Financial Controller | 1,270 KWD |
Audit Director | 2,180 KWD |
Audit Supervisor | 1,680 KWD |
Auditing Clerk | 720 KWD |
Auditing Manager | 1,830 KWD |
Billing Clerk | 730 KWD |
Billing Coordinator | 800 KWD |
Billing Specialist | 980 KWD |
Billing Supervisor | 1,410 KWD |
Bookkeeper | 620 KWD |
Bookkeeping Specialist | 910 KWD |
Budget Analyst | 1,630 KWD |
Budget Manager | 1,800 KWD |
Business Support Analyst | 1,050 KWD |
Capital Markets Associate | 1,360 KWD |
Cash Flow Analyst | 1,340 KWD |
Cash Management Manager | 1,780 KWD |
Cash Management Officer | 1,050 KWD |
Cashbook Clerk | 620 KWD |
Chartered Accountant | 1,180 KWD |
Chief Accountant | 1,310 KWD |
Chief Financial Technology Officer | 1,910 KWD |
Collections Clerk | 580 KWD |
Collections Representative | 800 KWD |
Collections Specialist | 920 KWD |
Corporate Controller | 1,430 KWD |
Corporate Treasurer | 1,730 KWD |
Cost Accountant | 880 KWD |
Cost Accounting Manager | 1,820 KWD |
Cost Accounting Supervisor | 1,440 KWD |
Cost Analyst | 1,480 KWD |
Credit and Collection Manager | 1,740 KWD |
Credit and Collection Staff | 710 KWD |
Credit and Loans Officer | 680 KWD |
Credit Controller | 1,260 KWD |
Credit Manager | 2,000 KWD |
Debt Adviser | 1,580 KWD |
Debt Collector | 710 KWD |
Debtors Clerk | 660 KWD |
Debtors Controller | 660 KWD |
Deputy CFO | 2,460 KWD |
Deputy Head of Finance | 2,540 KWD |
Derivative Trader | 1,530 KWD |
Director of Finance | 2,830 KWD |
E-commerce Accountant | 920 KWD |
Economist | 2,180 KWD |
Equity Analyst | 1,610 KWD |
Escrow Assistant | 790 KWD |
Executive Accountant | 1,060 KWD |
External Auditor | 1,250 KWD |
Finance Administrator | 1,060 KWD |
Finance Analyst | 1,700 KWD |
Finance Associate | 800 KWD |
Finance Data Analyst | 1,420 KWD |
Finance Director | 2,760 KWD |
Finance Executive | 1,900 KWD |
Finance Licensing Clerk | 650 KWD |
Finance Licensing Manager | 1,750 KWD |
Finance Licensing Specialist | 1,000 KWD |
Finance Manager | 2,660 KWD |
Finance Officer | 870 KWD |
Finance President | 2,830 KWD |
Finance Relationship Manager | 2,050 KWD |
Finance Release Analyst | 1,070 KWD |
Finance Specialist | 1,440 KWD |
Finance Team Leader | 2,110 KWD |
Financial Accountant | 890 KWD |
Financial Actuary | 1,420 KWD |
Financial Administrator | 1,540 KWD |
Financial Advisor | 1,610 KWD |
Financial Analyst | 1,730 KWD |
Financial Applications Specialist | 1,130 KWD |
Financial Assistant | 740 KWD |
Financial Associate | 710 KWD |
Financial Associate | 860 KWD |
Financial Claims Analyst | 1,270 KWD |
Financial Claims Manager | 1,700 KWD |
Financial Claims Supervisor | 1,450 KWD |
Financial Clerk | 670 KWD |
Financial Commercial Analyst | 1,350 KWD |
Financial Compliance Analyst | 1,480 KWD |
Financial Compliance Officer | 1,420 KWD |
Financial Consultant | 1,240 KWD |
Financial Controller | 1,480 KWD |
Financial Controller | 1,510 KWD |
Financial Coordinator | 860 KWD |
Financial Customer Service Manager | 1,610 KWD |
Financial Data Scientist | 1,690 KWD |
Financial Dealer and Broker | 1,020 KWD |
Financial Director | 2,710 KWD |
Financial Encoder | 760 KWD |
Financial Manager | 2,440 KWD |
Financial Manager | 2,460 KWD |
Financial Modelling Analyst | 1,660 KWD |
Financial Operations Manager | 2,270 KWD |
Financial Policy Analyst | 1,400 KWD |
Financial Project Manager | 1,890 KWD |
Financial Quantitative Analyst | 1,530 KWD |
Financial Reporting Consultant | 1,350 KWD |
Financial Reporting Manager | 1,730 KWD |
Financial Section Head | 1,770 KWD |
Financial Services Manager | 2,270 KWD |
Financial Services Sales Agent | 1,010 KWD |
Financial Technology Consultant | 1,470 KWD |
Financial Wellness Coach | 1,950 KWD |
FinTech Analyst | 1,500 KWD |
Fixed Assets Administrator | 930 KWD |
Forensic Accountant | 1,030 KWD |
Fraud Detection Supervisor | 1,100 KWD |
Fraud Prevention Manager | 1,850 KWD |
Fund Accountant | 880 KWD |
Grants Coordinator | 710 KWD |
Green Finance Analyst | 1,410 KWD |
Group Financial Manager | 2,750 KWD |
Internal Auditor | 1,220 KWD |
Internal Control Adviser | 1,410 KWD |
Internal Control Officer | 790 KWD |
International Tax Director | 2,110 KWD |
Inventory Accountant | 950 KWD |
Investment Advisor | 2,510 KWD |
Investment Analyst | 1,880 KWD |
Investment Associate | 1,560 KWD |
Investment Broker | 1,460 KWD |
Investment Fund Manager | 2,100 KWD |
Investment Operations Manager | 1,980 KWD |
Investment Underwriter | 810 KWD |
Investor | 1,170 KWD |
Investor Relations Manager | 1,850 KWD |
KYC Team Leader | 1,840 KWD |
Loan Processor | 720 KWD |
Management Accountant | 990 KWD |
Management Economist | 2,140 KWD |
Paymaster | 760 KWD |
Payroll Administrator | 1,240 KWD |
Payroll Benefits Coordinator | 980 KWD |
Payroll Billing Manager | 1,640 KWD |
Payroll Clerk | 830 KWD |
Payroll Manager | 1,600 KWD |
Payroll Officer | 800 KWD |
Payroll Specialist | 970 KWD |
Payroll Supervisor | 1,130 KWD |
Pensions Administrator | 980 KWD |
Personal Financial Advisor | 1,340 KWD |
Pricing Analyst | 1,450 KWD |
Private Equity Analyst | 1,700 KWD |
Project Accountant | 1,010 KWD |
Proposal Development Coordinator | 820 KWD |
Quantitative Trader | 1,330 KWD |
Receivables Accountant | 830 KWD |
Regulatory Accountant | 1,050 KWD |
Retirement Plan Analyst | 1,430 KWD |
Revenue Management Specialist | 1,510 KWD |
Revenue Recognition Analyst | 1,690 KWD |
Risk Management Director | 2,270 KWD |
Risk Management Supervisor | 1,890 KWD |
Staff Accountant | 890 KWD |
Tax Accountant | 870 KWD |
Tax Administrator | 990 KWD |
Tax Advisor | 1,420 KWD |
Tax Analyst | 1,440 KWD |
Tax Associate | 800 KWD |
Tax Consultant | 1,520 KWD |
Tax Director | 2,030 KWD |
Tax Examiner | 970 KWD |
Tax Manager | 1,800 KWD |
Tax Research Manager | 1,820 KWD |
Teller | 540 KWD |
Treasury Accountant | 960 KWD |
Treasury Analyst | 1,560 KWD |
Underwriter | 640 KWD |
Underwriting Assistant | 610 KWD |
Vice President of Finance | 2,450 KWD |
Accounting and Finance Jobs Pay Scale and Salaries in Kuwait
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/accounting-and-finance/median-and-salary-distribution-monthly-kuwait-accounting-and-finance.jpg 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?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg 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. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/accounting-and-finance/salary-comparison-by-gender-monthly-kuwait-accounting-and-finance.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/salary-comparison-by-gender-monthly-kuwait.jpg
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.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/accounting-and-finance/annual-salary-increment-rate-kuwait-accounting-and-finance.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/annual-salary-increment-rate-kuwait.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg 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?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/kuwait/accounting-and-finance/annual-salary-bonus-rate-kuwait-accounting-and-finance.jpg
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 BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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