A person working as a Chief Financial Officer in Kuwait typically earns around 2,660 KWD per month. Salaries range from 1,280 KWD (lowest) to 4,180 KWD (highest).
This is the average monthly salary including housing, transport, and other benefits. Chief Financial Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Financial Officer salaries in Kuwait range from 1,280 KWD per month (minimum salary) to 4,180 KWD per month (maximum salary).
The median salary is 2,770 KWD per month, which means that half (50%) of people working as Chief Financial Officer(s) are earning less than 2,770 KWD while the other half are earning more than 2,770 KWD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Chief Financial Officer(s) are earning less than 1,820 KWD while 75% of them are earning more than 1,820 KWD. Also from the diagram, 75% of Chief Financial Officer(s) are earning less than 3,610 KWD while 25% are earning more than 3,610 KWD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Chief Financial Officer salaries by experience level and this is what we found.
A Chief Financial Officer with less than two years of experience makes approximately 1,500 KWD per month.
While someone with an experience level between two and five years is expected to earn 2,120 KWD per month, 42% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 2,790 KWD per month, 31% more than someone with two to five years of experience.
Additionally, Chief Financial Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 3,430 KWD per month, 23% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 3,640 KWD per month, 6% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 3,990 KWD per month, 10% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+42%|
|5 - 10 Years||+31%|
|10 - 15 Years||+23%|
|15 - 20 Years||+6%|
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Chief Financial Officer salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Chief Financial Officer is 1,860 KWD per month.
While someone with a Certificate or Diploma gets a salary of 2,150 KWD per month, 16% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 3,140 KWD per month, 46% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 3,860 KWD per month, 23% more than someone with Bachelor's Degree.
|Certificate or Diploma||+16%|
A Master's degree program or any post-graduate program in Kuwait costs anywhere from 6,320 Kuwaiti Dinar(s) to 19,000 Kuwaiti Dinar(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you 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 into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Chief Financial Officer employees in Kuwait earn 8% more than their female counterparts on average.
Chief Financial Officer(s) in Kuwait are likely to observe a salary increase of approximately 10% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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.
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
Listed above are the average annual increase rates for each industry in Kuwait for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Chief Financial Officer is considered to be a high bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
33% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 67% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.
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.
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.
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.
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.
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.
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 fix 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.
The average salary for Chief Financial Officer is 55% more than that of Executive and Management. Also, Executive and Management salaries are 36% more than those of All Jobs.
|Job Title||Average Salary|
|Account Coordinator||1,200 KWD||-55%|
|Administration Manager||1,530 KWD||-43%|
|Area Manager||1,330 KWD||-50%|
|Asset Protection Associate||1,630 KWD||-39%|
|Assistant Director||1,530 KWD||-43%|
|Assistant Manager||1,600 KWD||-40%|
|Assistant Operations Manager||1,770 KWD||-34%|
|Assistant Project Manager||1,500 KWD||-44%|
|Assistant Section Head||1,280 KWD||-52%|
|Assistant to CEO||1,350 KWD||-49%|
|Assistant Vice President||1,680 KWD||-37%|
|Associate Director||1,500 KWD||-44%|
|Bid Manager||1,720 KWD||-35%|
|Branch Manager||1,620 KWD||-39%|
|Business Development Manager||1,830 KWD||-31%|
|Business Operations Associate||1,490 KWD||-44%|
|Business Operations Lead||1,560 KWD||-41%|
|Campaign Manager||1,680 KWD||-37%|
|Chairman of The Board||2,970 KWD||+12%|
|Chairman Office Manager||1,790 KWD||-33%|
|Chief Corporate Officer||2,340 KWD||-12%|
|Chief Executive Officer||2,880 KWD||+8%|
|Chief Financial Officer||2,660 KWD||-0%|
|Chief of Staff||1,410 KWD||-47%|
|Chief Operating Officer||2,190 KWD||-18%|
|Chief Risk Officer||1,830 KWD||-31%|
|Client Services Manager||1,970 KWD||-26%|
|Commercial Project Manager||1,580 KWD||-41%|
|Commodity Broker||1,170 KWD||-56%|
|Corporate Affairs Executive||1,710 KWD||-36%|
|Corporate Compliance Director||1,930 KWD||-28%|
|Corporate Director||2,060 KWD||-23%|
|Corporate Officer||1,410 KWD||-47%|
|Corporate Partnerships Officer||1,410 KWD||-47%|
|Country Manager||2,380 KWD||-11%|
|Deputy Director||2,160 KWD||-19%|
|Director of Accreditation||1,860 KWD||-30%|
|Director of Catering Services||1,690 KWD||-37%|
|Director of Client Services||1,830 KWD||-31%|
|Director of Facilities Management||1,580 KWD||-41%|
|Director of Operations||1,950 KWD||-27%|
|Director of Process Simplification||1,550 KWD||-42%|
|Director of Project Management||2,010 KWD||-25%|
|Director of Revenue Management||1,720 KWD||-35%|
|Director of Training and Development||1,910 KWD||-28%|
|Distribution Manager||2,070 KWD||-22%|
|Division Manager||1,720 KWD||-35%|
|Duty Manager||1,710 KWD||-36%|
|Engagement Manager||1,970 KWD||-26%|
|Executive Director||2,730 KWD||+3%|
|Executive Manager||2,260 KWD||-15%|
|Franchise Manager||2,430 KWD||-9%|
|General Manager||2,190 KWD||-18%|
|Global Master Data Manager||2,070 KWD||-22%|
|Head of Middle Office||1,740 KWD||-35%|
|Head of Projects||1,930 KWD||-28%|
|Head of Sustainability||1,560 KWD||-41%|
|Housing Manager||1,540 KWD||-42%|
|HSE Manager||1,540 KWD||-42%|
|Key Account Manager||1,670 KWD||-37%|
|Knowledge Manager||1,820 KWD||-32%|
|Location Manager||1,850 KWD||-31%|
|Logistics Manager||1,490 KWD||-44%|
|Management Consultant||1,510 KWD||-43%|
|Management Executive||2,130 KWD||-20%|
|Managing Director||2,330 KWD||-13%|
|MIS Executive||1,960 KWD||-26%|
|Ocean Services Manager||2,050 KWD||-23%|
|Operations Assistant||1,430 KWD||-46%|
|Operations Director||2,110 KWD||-21%|
|Operations Executive||2,160 KWD||-19%|
|Operations Manager||2,070 KWD||-22%|
|Operations Supervisor||1,750 KWD||-34%|
|Policy Administration Executive||1,620 KWD||-39%|
|Private Sector Executive||1,790 KWD||-33%|
|Product Development Manager||2,000 KWD||-25%|
|Product Executive||1,730 KWD||-35%|
|Production Executive||2,010 KWD||-25%|
|Production Manager||1,880 KWD||-29%|
|Production Supervisor||1,730 KWD||-35%|
|Program Manager||2,000 KWD||-25%|
|Programme Coordinator||1,380 KWD||-48%|
|Project Control Manager||2,080 KWD||-22%|
|Project Coordinator||1,220 KWD||-54%|
|Project Management Officer||1,420 KWD||-47%|
|Project Manager||1,520 KWD||-43%|
|Project Portfolio Manager||1,630 KWD||-39%|
|Quality Manager||1,500 KWD||-44%|
|R/D Director||1,730 KWD||-35%|
|Regional Director||2,600 KWD||-2%|
|Regional Manager||1,970 KWD||-26%|
|Relationship Manager||1,900 KWD||-29%|
|Retail District Manager||1,360 KWD||-49%|
|Revenue Manager||1,550 KWD||-42%|
|Risk and Capital Manager||2,160 KWD||-19%|
|Risk Officer||1,470 KWD||-45%|
|Safety Manager||1,440 KWD||-46%|
|Section Head||1,430 KWD||-46%|
|Service Manager||1,540 KWD||-42%|
|Shift Supervisor||1,180 KWD||-56%|
|Solutions Manager||1,350 KWD||-49%|
|Supply Chain Manager||2,000 KWD||-25%|
|Technical Manager||1,780 KWD||-33%|
|Territory Manager||1,980 KWD||-26%|
|Validation Manager||1,720 KWD||-35%|
|Vice President||2,390 KWD||-10%|
|Zone Manager||2,090 KWD||-22%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Kuwait earn 10% more than their private sector counterparts on average across all sectors.