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Financial Analyst Average Salary in Mauritius 2020

How much money does a Financial Analyst make in Mauritius?


Average Monthly Salary
71,300 MUR
( 856,000 MUR yearly)

LOW
38,500
MUR
AVERAGE
71,300
MUR
HIGH
108,000
MUR

A person working as a Financial Analyst in Mauritius typically earns around 71,300 MUR per month. Salaries range from 38,500 MUR (lowest) to 108,000 MUR (highest).

This is the average monthly salary including housing, transport, and other benefits. Financial Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.

Financial Analyst Salary Distribution in Mauritius

Median and salary distribution monthly Mauritius Financial Analyst
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The median, the maximum, the minimum, and the range

  • Salary Range

    Financial Analyst salaries in Mauritius range from 38,500 MUR per month (minimum salary) to 108,000 MUR per month (maximum salary).

  • Median Salary

    The median salary is 65,600 MUR per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 65,600 MUR while the other half are earning more than 65,600 MUR. 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 Financial Analyst(s) are earning less than 46,900 MUR while 75% of them are earning more than 46,900 MUR. Also from the diagram, 75% of Financial Analyst(s) are earning less than 79,700 MUR while 25% are earning more than 79,700 MUR.


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

Financial Analyst Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Mauritius Financial Analyst
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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 Financial Analyst salaries by experience level and this is what we found.

A Financial Analyst with less than two years of experience makes approximately 44,700 MUR per month.

While someone with an experience level between two and five years is expected to earn 56,500 MUR per month, 26% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 74,500 MUR per month, 32% 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, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 87,600 MUR per month, 18% 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 97,000 MUR per month, 11% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 103,000 MUR per month, 6% more than people with fifteen to twenty years of experience.


Financial Analyst average salary change by experience in Mauritius

0 - 2 Years
44,700 MUR
2 - 5 Years+26%
56,500 MUR
5 - 10 Years+32%
74,500 MUR
10 - 15 Years+18%
87,600 MUR
15 - 20 Years+11%
97,000 MUR
20+ Years+6%
103,000 MUR
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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Financial Analyst Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Mauritius Financial Analyst
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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 Financial Analyst salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Financial Analyst is 54,400 MUR per month.

While someone with a Certificate or Diploma gets a salary of 61,300 MUR per month, 13% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 80,700 MUR per month, 32% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 100,000 MUR per month, 24% more than someone with Bachelor's Degree.


Financial Analyst average salary difference by education level in Mauritius

High School
54,400 MUR
Certificate or Diploma+13%
61,300 MUR
Bachelor's Degree+32%
80,700 MUR
Master's Degree+24%
100,000 MUR
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 Mauritius costs anywhere from 334,000 Mauritius Rupee(s) to 1,000,000 Mauritius Rupee(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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Financial Analyst Salary Comparison By Gender

Salary comparison by gender monthly Mauritius Financial Analyst
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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 Financial Analyst employees in Mauritius earn 8% more than their female counterparts.

Female
68,200 MUR
Male+8%
73,600 MUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Mauritius for all Careers

Salary comparison by gender monthly Mauritius
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Financial Analyst Average Annual Salary Increment Percentage in Mauritius

How much are annual salary increments in Mauritius for Financial Analyst(s)? How often do employees get salary raises?

Financial Analyst

Financial Analyst(s) in Mauritius are likely to observe a salary increase of approximately 7% every 29 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Mauritius Financial Analyst
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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.

Mauritius / All Professions

Annual Salary Increment Rate Mauritius
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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 Mauritius is 2%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in Mauritius 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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Financial Analyst Bonus and Incentive Rates in Mauritius

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Mauritius Financial Analyst
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A Financial Analyst is considered to be a moderate 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.

67% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 33% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.

Received Bonus
33%
No Bonus
67%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Mauritius
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Where can you get paid more, working for a private company or for the government? Public sector Financial Analyst employees in Mauritius earn 18% more than their private sector counterparts.

Private Sector
60,200 MUR
Public Sector+18%
70,900 MUR
Percentage increase and decrease are relative to the previous value

Financial Analyst Salary Trend and Forecast in Mauritius

How are Financial Analyst salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Mauritius Financial Analyst
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Average Salary 2016
65,600 MUR
Average Salary 2017+4%
68,000 MUR
Average Salary 2018+1%
68,900 MUR
Average Salary 2019+2%
70,000 MUR
Percentage increase and decrease are relative to the previous value

Financial Analyst salaries in Mauritius are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Financial Analyst Average Hourly Wage in Mauritius


410 MUR per hour

The average hourly wage (pay per hour) in Mauritius is 410 MUR. This means that the average Financial Analyst in Mauritius earns approximately 410 MUR 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.

Financial Analyst VS Other Jobs

Salary Comparison Between Financial Analyst and Accounting and Finance monthly Mauritius
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The average salary for Financial Analyst is 10% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner42,200 MUR-41%
Account Executive65,200 MUR-9%
Accountant43,900 MUR-38%
Accounting Assistant43,900 MUR-38%
Accounting Associate45,500 MUR-36%
Accounting Clerk33,300 MUR-53%
Accounting Coordinator37,900 MUR-47%
Accounting Manager86,400 MUR+21%
Accounting Supervisor61,600 MUR-14%
Accounting Technician38,900 MUR-45%
Accounts Executive56,500 MUR-21%
Accounts Payable and Receivable Specialist54,600 MUR-23%
Accounts Payable Clerk35,000 MUR-51%
Accounts Payable Manager66,500 MUR-7%
Accounts Receivable Clerk36,600 MUR-49%
Accounts Receivable Manager75,900 MUR+6%
Assistant Accounting Manager56,900 MUR-20%
Assistant Auditor49,000 MUR-31%
Audit Supervisor89,300 MUR+25%
Auditing Clerk45,100 MUR-37%
Auditing Manager88,700 MUR+24%
Billing Coordinator54,700 MUR-23%
Billing Specialist52,700 MUR-26%
Billing Supervisor62,000 MUR-13%
Bookkeeper35,600 MUR-50%
Bookkeeping Specialist44,400 MUR-38%
Budget Analyst51,600 MUR-28%
Budget Manager78,400 MUR+10%
Business Support Analyst59,800 MUR-16%
Capital Markets Associate72,200 MUR+1%
Cash Flow Analyst68,500 MUR-4%
Cash Management Officer62,600 MUR-12%
Cashbook Clerk40,900 MUR-43%
Chartered Accountant59,700 MUR-16%
Collections Clerk32,600 MUR-54%
Collections Specialist45,200 MUR-37%
Corporate Treasurer119,000 MUR+67%
Cost Accountant55,800 MUR-22%
Cost Accounting Manager68,000 MUR-5%
Cost Analyst66,500 MUR-7%
Credit and Collection Manager75,900 MUR+6%
Credit and Collection Staff37,400 MUR-48%
Credit and Loans Officer38,800 MUR-46%
Credit Controller62,100 MUR-13%
Debt Adviser79,400 MUR+11%
Debt Collector58,000 MUR-19%
Debtors Clerk49,900 MUR-30%
Deputy CFO111,000 MUR+56%
Derivative Trader91,200 MUR+28%
Escrow Assistant53,800 MUR-25%
External Auditor67,800 MUR-5%
Finance Associate48,700 MUR-32%
Finance Executive109,000 MUR+53%
Finance Licensing Clerk41,800 MUR-41%
Finance Licensing Manager69,400 MUR-3%
Finance Licensing Specialist51,300 MUR-28%
Finance Officer78,100 MUR+10%
Finance President127,000 MUR+78%
Finance Relationship Manager96,000 MUR+35%
Finance Release Analyst62,700 MUR-12%
Finance Team Leader 73,200 MUR+3%
Financial Actuary67,000 MUR-6%
Financial Administrator55,400 MUR-22%
Financial Analyst71,300 MUR-0%
Financial Applications Specialist44,200 MUR-38%
Financial Assistant41,600 MUR-42%
Financial Associate48,600 MUR-32%
Financial Claims Analyst60,900 MUR-15%
Financial Claims Manager71,700 MUR+1%
Financial Commercial Analyst56,100 MUR-21%
Financial Compliance Analyst68,900 MUR-3%
Financial Consultant64,900 MUR-9%
Financial Controller59,800 MUR-16%
Financial Coordinator58,800 MUR-18%
Financial Customer Service Manager79,800 MUR+12%
Financial Dealer and Broker58,800 MUR-18%
Financial Encoder39,200 MUR-45%
Financial Manager135,000 MUR+89%
Financial Operations Manager91,800 MUR+29%
Financial Policy Analyst63,400 MUR-11%
Financial Project Manager60,800 MUR-15%
Financial Quantitative Analyst74,400 MUR+4%
Financial Reporting Consultant67,300 MUR-6%
Financial Reporting Manager77,000 MUR+8%
Financial Services Sales Agent60,000 MUR-16%
Fixed Assets Administrator51,500 MUR-28%
Forensic Accountant54,100 MUR-24%
Fraud Detection Supervisor64,400 MUR-10%
Fraud Prevention Manager92,500 MUR+30%
Fund Accountant49,200 MUR-31%
Grants Coordinator43,000 MUR-40%
Internal Auditor71,200 MUR-0%
Internal Control Adviser72,300 MUR+1%
Internal Control Officer57,300 MUR-20%
Inventory Accountant108,000 MUR+51%
Investment Analyst84,400 MUR+18%
Investment Fund Manager85,200 MUR+19%
Investment Underwriter39,700 MUR-44%
Investor60,200 MUR-16%
Investor Relations Manager83,300 MUR+17%
KYC Team Leader80,200 MUR+12%
Management Economist74,200 MUR+4%
Paymaster48,800 MUR-32%
Payroll Clerk37,300 MUR-48%
Payroll Manager65,900 MUR-8%
Pensions Administrator51,700 MUR-28%
Pricing Analyst71,700 MUR+1%
Private Equity Analyst72,700 MUR+2%
Proposal Development Coordinator50,800 MUR-29%
Receivables Accountant44,300 MUR-38%
Regulatory Accountant53,300 MUR-25%
Retirement Plan Analyst70,500 MUR-1%
Revenue Management Specialist55,600 MUR-22%
Revenue Recognition Analyst86,800 MUR+22%
Risk Management Director101,000 MUR+42%
Risk Management Supervisor80,900 MUR+13%
Tax Accountant46,500 MUR-35%
Tax Advisor67,500 MUR-5%
Tax Associate51,600 MUR-28%
Tax Manager100,000 MUR+40%
Teller30,700 MUR-57%
Treasury Accountant50,700 MUR-29%
Treasury Analyst72,500 MUR+2%
Underwriter37,600 MUR-47%
Underwriting Assistant35,700 MUR-50%
Vice President of Finance99,300 MUR+39%
27500 - 2

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