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Financial Manager Average Salary in Netherlands 2020

How much money does a Financial Manager make in Netherlands?


Average Monthly Salary
20,500 EUR
( 245,000 EUR yearly)

LOW
11,000
EUR
AVERAGE
20,500
EUR
HIGH
30,900
EUR

A person working as a Financial Manager in Netherlands typically earns around 20,500 EUR per month. Salaries range from 11,000 EUR (lowest) to 30,900 EUR (highest).

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

Financial Manager Salary Distribution in Netherlands

Median and salary distribution monthly Netherlands Financial Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Financial Manager salaries in Netherlands range from 11,000 EUR per month (minimum salary) to 30,900 EUR per month (maximum salary).

  • Median Salary

    The median salary is 18,800 EUR per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 18,800 EUR while the other half are earning more than 18,800 EUR. 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 Manager(s) are earning less than 13,400 EUR while 75% of them are earning more than 13,400 EUR. Also from the diagram, 75% of Financial Manager(s) are earning less than 22,900 EUR while 25% are earning more than 22,900 EUR.


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 Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

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

A Financial Manager with less than two years of experience makes approximately 12,800 EUR per month.

While someone with an experience level between two and five years is expected to earn 16,200 EUR 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 21,400 EUR 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 Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 25,100 EUR 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 27,800 EUR 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 29,600 EUR per month, 6% more than people with fifteen to twenty years of experience.


Financial Manager average salary change by experience in Netherlands

0 - 2 Years
12,800 EUR
2 - 5 Years+26%
16,200 EUR
5 - 10 Years+32%
21,400 EUR
10 - 15 Years+18%
25,100 EUR
15 - 20 Years+11%
27,800 EUR
20+ Years+6%
29,600 EUR
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 Manager Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Netherlands Financial Manager
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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 Manager salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of a Financial Manager is 16,200 EUR per month.

While someone with a Bachelor's Degree gets a salary of 21,400 EUR per month, 32% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 29,300 EUR per month, 37% more than someone with a Bachelor's Degree.


Financial Manager average salary difference by education level in Netherlands

Certificate or Diploma
16,200 EUR
Bachelor's Degree+32%
21,400 EUR
Master's Degree+37%
29,300 EUR
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 Netherlands costs anywhere from 52,100 Euro(s) to 156,000 Euro(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 Manager Salary Comparison By Gender

Salary comparison by gender monthly Netherlands Financial Manager
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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 Manager employees in Netherlands earn 5% more than their female counterparts.

Female
20,000 EUR
Male+5%
20,900 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Netherlands for all Careers

Salary comparison by gender monthly Netherlands
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Financial Manager Average Annual Salary Increment Percentage in Netherlands

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

Financial Manager

Financial Manager(s) in Netherlands are likely to observe a salary increase of approximately 14% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Netherlands Financial Manager
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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.

Netherlands / All Professions

Annual Salary Increment Rate Netherlands
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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 Netherlands is 7%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Listed above are the average annual increase rates for each industry in Netherlands 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 Manager Bonus and Incentive Rates in Netherlands

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Netherlands Financial Manager
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A Financial Manager 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.

20% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 80% 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
80%
No Bonus
20%

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 Netherlands
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Where can you get paid more, working for a private company or for the government? Public sector Financial Manager employees in Netherlands earn 5% more than their private sector counterparts.

Private Sector
10,200 EUR
Public Sector+5%
10,700 EUR
Percentage increase and decrease are relative to the previous value

Financial Manager Salary Trend and Forecast in Netherlands

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

Salary trends and forecast monthly Netherlands Financial Manager
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Average Salary 2016
18,800 EUR
Average Salary 2017+4%
19,500 EUR
Average Salary 2018+1%
19,800 EUR
Average Salary 2019+2%
20,100 EUR
Percentage increase and decrease are relative to the previous value

Financial Manager salaries in Netherlands 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 Manager Average Hourly Wage in Netherlands


120 EUR per hour

The average hourly wage (pay per hour) in Netherlands is 120 EUR. This means that the average Financial Manager in Netherlands earns approximately 120 EUR 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 Manager VS Other Jobs

Salary Comparison Between Financial Manager and Accounting and Finance monthly Netherlands
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The average salary for Financial Manager is 100% 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 Examiner6,480 EUR-68%
Account Executive10,100 EUR-51%
Accountant7,340 EUR-64%
Accounting Assistant6,750 EUR-67%
Accounting Associate7,030 EUR-66%
Accounting Clerk5,250 EUR-74%
Accounting Coordinator5,850 EUR-71%
Accounting Manager13,400 EUR-34%
Accounting Supervisor9,680 EUR-53%
Accounting Technician6,660 EUR-67%
Accounts Executive8,420 EUR-59%
Accounts Payable and Receivable Specialist8,050 EUR-61%
Accounts Payable Clerk5,150 EUR-75%
Accounts Payable Manager10,700 EUR-48%
Accounts Receivable Clerk5,530 EUR-73%
Accounts Receivable Manager11,300 EUR-45%
Assistant Accounting Manager9,050 EUR-56%
Assistant Auditor7,380 EUR-64%
Audit Supervisor12,900 EUR-37%
Auditing Clerk6,680 EUR-67%
Auditing Manager13,700 EUR-33%
Billing Coordinator8,460 EUR-59%
Billing Specialist7,800 EUR-62%
Billing Supervisor10,100 EUR-51%
Bookkeeper5,450 EUR-73%
Bookkeeping Specialist7,570 EUR-63%
Budget Analyst8,700 EUR-57%
Budget Manager12,000 EUR-41%
Business Support Analyst8,930 EUR-56%
Capital Markets Associate10,300 EUR-50%
Cash Flow Analyst10,700 EUR-48%
Cash Management Officer10,100 EUR-51%
Cashbook Clerk6,660 EUR-67%
Chartered Accountant8,860 EUR-57%
Collections Clerk5,580 EUR-73%
Collections Specialist6,600 EUR-68%
Corporate Treasurer16,900 EUR-17%
Cost Accountant8,630 EUR-58%
Cost Accounting Manager11,000 EUR-46%
Cost Analyst9,850 EUR-52%
Credit and Collection Manager11,600 EUR-43%
Credit and Collection Staff5,650 EUR-72%
Credit and Loans Officer5,980 EUR-71%
Credit Controller10,000 EUR-51%
Debt Adviser12,000 EUR-41%
Debt Collector9,000 EUR-56%
Debtors Clerk7,650 EUR-63%
Deputy CFO17,300 EUR-15%
Derivative Trader14,200 EUR-31%
Escrow Assistant8,400 EUR-59%
External Auditor10,700 EUR-48%
Finance Associate7,990 EUR-61%
Finance Executive16,900 EUR-17%
Finance Licensing Clerk6,740 EUR-67%
Finance Licensing Manager10,100 EUR-51%
Finance Licensing Specialist8,440 EUR-59%
Finance Officer11,300 EUR-45%
Finance President21,100 EUR+3%
Finance Relationship Manager13,400 EUR-34%
Finance Release Analyst9,360 EUR-54%
Finance Team Leader 11,000 EUR-46%
Financial Actuary9,890 EUR-52%
Financial Administrator9,120 EUR-55%
Financial Analyst10,900 EUR-47%
Financial Applications Specialist7,140 EUR-65%
Financial Assistant6,200 EUR-70%
Financial Associate7,590 EUR-63%
Financial Claims Analyst9,140 EUR-55%
Financial Claims Manager10,900 EUR-47%
Financial Commercial Analyst9,280 EUR-55%
Financial Compliance Analyst10,100 EUR-51%
Financial Consultant9,600 EUR-53%
Financial Controller9,830 EUR-52%
Financial Coordinator8,770 EUR-57%
Financial Customer Service Manager12,300 EUR-40%
Financial Dealer and Broker8,890 EUR-57%
Financial Encoder5,700 EUR-72%
Financial Manager19,400 EUR-5%
Financial Operations Manager14,300 EUR-30%
Financial Policy Analyst10,100 EUR-51%
Financial Project Manager9,840 EUR-52%
Financial Quantitative Analyst11,600 EUR-43%
Financial Reporting Consultant10,100 EUR-51%
Financial Reporting Manager12,200 EUR-40%
Financial Services Sales Agent8,790 EUR-57%
Fixed Assets Administrator8,140 EUR-60%
Forensic Accountant7,700 EUR-62%
Fraud Detection Supervisor9,210 EUR-55%
Fraud Prevention Manager14,700 EUR-28%
Fund Accountant7,310 EUR-64%
Grants Coordinator6,650 EUR-67%
Internal Auditor10,300 EUR-50%
Internal Control Adviser10,300 EUR-50%
Internal Control Officer9,200 EUR-55%
Inventory Accountant15,600 EUR-24%
Investment Analyst12,700 EUR-38%
Investment Fund Manager14,000 EUR-32%
Investment Underwriter6,160 EUR-70%
Investor9,600 EUR-53%
Investor Relations Manager12,100 EUR-41%
KYC Team Leader12,100 EUR-41%
Management Economist10,800 EUR-47%
Paymaster8,120 EUR-60%
Payroll Clerk6,400 EUR-69%
Payroll Manager10,200 EUR-50%
Pensions Administrator7,610 EUR-63%
Pricing Analyst11,000 EUR-46%
Private Equity Analyst11,100 EUR-46%
Proposal Development Coordinator7,490 EUR-63%
Receivables Accountant7,120 EUR-65%
Regulatory Accountant8,220 EUR-60%
Retirement Plan Analyst10,100 EUR-51%
Revenue Management Specialist8,940 EUR-56%
Revenue Recognition Analyst12,500 EUR-39%
Risk Management Director15,100 EUR-26%
Risk Management Supervisor12,300 EUR-40%
Tax Accountant7,640 EUR-63%
Tax Advisor9,970 EUR-51%
Tax Associate7,770 EUR-62%
Tax Manager14,000 EUR-32%
Teller4,600 EUR-78%
Treasury Accountant7,840 EUR-62%
Treasury Analyst10,800 EUR-47%
Underwriter6,210 EUR-70%
Underwriting Assistant5,430 EUR-73%
Vice President of Finance14,000 EUR-32%

Salary Comparison By City

CityAverage Salary
Almere18,900 EUR
Amsterdam22,500 EUR
Breda18,400 EUR
Eindhoven21,400 EUR
Groningen18,600 EUR
Nijmegen18,100 EUR
Rotterdam22,200 EUR
s-Gravenhage22,000 EUR
Tilburg21,200 EUR
Utrecht21,700 EUR
5250 - 2

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