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Chief Financial Officer Average Salary in Kuwait 2020

How much money does a Chief Financial Officer make in Kuwait?

Average Monthly Salary
2,660 KWD
( 32,000 KWD yearly)


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 Salary Distribution in Kuwait

Median and salary distribution monthly Kuwait Chief Financial Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chief Financial Officer salaries in Kuwait range from 1,280 KWD per month (minimum salary) to 4,180 KWD per month (maximum salary).

  • Median 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.

  • Percentiles

    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.

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

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

Chief Financial Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Kuwait Chief Financial Officer
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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.

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.

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.

Chief Financial Officer average salary change by experience in Kuwait

0 - 2 Years
1,500 KWD
2 - 5 Years+42%
2,120 KWD
5 - 10 Years+31%
2,790 KWD
10 - 15 Years+23%
3,430 KWD
15 - 20 Years+6%
3,640 KWD
20+ Years+10%
3,990 KWD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Chief Financial Officer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chief Financial Officer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Kuwait Chief Financial Officer
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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.

Chief Financial Officer average salary difference by education level in Kuwait

High School
1,860 KWD
Certificate or Diploma+16%
2,150 KWD
Bachelor's Degree+46%
3,140 KWD
Master's Degree+23%
3,860 KWD
Percentage increase and decrease are relative to the previous value

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 6,320 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.

Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Chief Financial Officer Salary Comparison By Gender

Salary comparison by gender monthly Kuwait Chief Financial Officer
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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? Male Chief Financial Officer employees in Kuwait earn 8% more than their female counterparts on average.

2,790 KWD
2,590 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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Chief Financial Officer Average Annual Salary Increment Percentage in Kuwait

How much are annual salary increments in Kuwait for Chief Financial Officer(s)? How often do employees get salary raises?

Chief Financial Officer

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.

Annual Salary Increment Rate Kuwait Chief Financial Officer
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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

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.

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%.

Annual Increment Rate By Industry 2019

Information Technology

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.

Worldwide Salary Raises: All Countries and All Jobs

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Chief Financial Officer Bonus and Incentive Rates in Kuwait

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kuwait Chief Financial Officer
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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.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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.

Chief Financial Officer Average Hourly Wage in Kuwait

15 KWD per hour

The average hourly wage (pay per hour) in Kuwait is 15 KWD. This means that the average Chief Financial Officer in Kuwait earns approximately 15 KWD for every worked hour.

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

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.

Chief Financial Officer VS Other Jobs

Salary Comparison Between Chief Financial Officer and Executive and Management monthly Kuwait
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator1,200 KWD-55%
Administration Manager1,530 KWD-43%
Area Manager1,330 KWD-50%
Asset Protection Associate1,630 KWD-39%
Assistant Director1,530 KWD-43%
Assistant Manager1,600 KWD-40%
Assistant Operations Manager1,770 KWD-34%
Assistant Project Manager1,500 KWD-44%
Assistant Section Head1,280 KWD-52%
Assistant to CEO1,350 KWD-49%
Assistant Vice President1,680 KWD-37%
Associate Director1,500 KWD-44%
Bid Manager1,720 KWD-35%
Branch Manager1,620 KWD-39%
Business Development Manager1,830 KWD-31%
Business Operations Associate1,490 KWD-44%
Business Operations Lead1,560 KWD-41%
Campaign Manager1,680 KWD-37%
Chairman of The Board2,970 KWD+12%
Chairman Office Manager1,790 KWD-33%
Chief Corporate Officer2,340 KWD-12%
Chief Executive Officer2,880 KWD+8%
Chief Financial Officer2,660 KWD-0%
Chief of Staff1,410 KWD-47%
Chief Operating Officer2,190 KWD-18%
Chief Risk Officer1,830 KWD-31%
Client Services Manager1,970 KWD-26%
Commercial Project Manager1,580 KWD-41%
Commodity Broker1,170 KWD-56%
Corporate Affairs Executive1,710 KWD-36%
Corporate Compliance Director1,930 KWD-28%
Corporate Director2,060 KWD-23%
Corporate Officer1,410 KWD-47%
Corporate Partnerships Officer1,410 KWD-47%
Country Manager2,380 KWD-11%
Deputy Director2,160 KWD-19%
Director2,220 KWD-17%
Director of Accreditation1,860 KWD-30%
Director of Catering Services1,690 KWD-37%
Director of Client Services1,830 KWD-31%
Director of Facilities Management1,580 KWD-41%
Director of Operations1,950 KWD-27%
Director of Process Simplification1,550 KWD-42%
Director of Project Management2,010 KWD-25%
Director of Revenue Management1,720 KWD-35%
Director of Training and Development1,910 KWD-28%
Distribution Manager2,070 KWD-22%
Division Manager1,720 KWD-35%
Duty Manager1,710 KWD-36%
Engagement Manager1,970 KWD-26%
Executive Director2,730 KWD+3%
Executive Manager2,260 KWD-15%
Franchise Manager2,430 KWD-9%
General Manager2,190 KWD-18%
Global Master Data Manager2,070 KWD-22%
Head of Middle Office1,740 KWD-35%
Head of Projects1,930 KWD-28%
Head of Sustainability1,560 KWD-41%
Housing Manager1,540 KWD-42%
HSE Manager1,540 KWD-42%
Key Account Manager1,670 KWD-37%
Knowledge Manager1,820 KWD-32%
Location Manager1,850 KWD-31%
Logistics Manager1,490 KWD-44%
Management Consultant1,510 KWD-43%
Management Executive2,130 KWD-20%
Manager2,020 KWD-24%
Managing Director2,330 KWD-13%
MIS Executive1,960 KWD-26%
Ocean Services Manager2,050 KWD-23%
Operations Assistant1,430 KWD-46%
Operations Director2,110 KWD-21%
Operations Executive2,160 KWD-19%
Operations Manager2,070 KWD-22%
Operations Supervisor1,750 KWD-34%
Policy Administration Executive1,620 KWD-39%
Private Sector Executive1,790 KWD-33%
Product Development Manager2,000 KWD-25%
Product Executive1,730 KWD-35%
Production Executive2,010 KWD-25%
Production Manager1,880 KWD-29%
Production Supervisor1,730 KWD-35%
Program Manager2,000 KWD-25%
Programme Coordinator1,380 KWD-48%
Project Control Manager2,080 KWD-22%
Project Coordinator1,220 KWD-54%
Project Management Officer1,420 KWD-47%
Project Manager1,520 KWD-43%
Project Portfolio Manager1,630 KWD-39%
Quality Manager1,500 KWD-44%
R/D Director1,730 KWD-35%
Regional Director2,600 KWD-2%
Regional Manager1,970 KWD-26%
Relationship Manager1,900 KWD-29%
Retail District Manager1,360 KWD-49%
Revenue Manager1,550 KWD-42%
Risk and Capital Manager2,160 KWD-19%
Risk Officer1,470 KWD-45%
Safety Manager1,440 KWD-46%
Section Head1,430 KWD-46%
Service Manager1,540 KWD-42%
Shift Supervisor1,180 KWD-56%
Solutions Manager1,350 KWD-49%
Supervisor1,200 KWD-55%
Supply Chain Manager2,000 KWD-25%
Surveyor1,410 KWD-47%
Technical Manager1,780 KWD-33%
Territory Manager1,980 KWD-26%
Validation Manager1,720 KWD-35%
Vice President2,390 KWD-10%
Zone Manager2,090 KWD-22%

Government vs Private Sector Salary Comparison

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.

Private Sector
1,230 KWD
Public Sector+10%
1,350 KWD
Percentage increase and decrease are relative to the previous value

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