A person working as a Financial Manager in Oman typically earns around 3,400 OMR per month. Salaries range from 1,600 OMR (lowest) to 5,370 OMR (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 salaries in Oman range from 1,600 OMR per month (minimum salary) to 5,370 OMR per month (maximum salary).
The median salary is 3,600 OMR per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 3,600 OMR while the other half are earning more than 3,600 OMR. 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 Financial Manager(s) are earning less than 2,340 OMR while 75% of them are earning more than 2,340 OMR. Also from the diagram, 75% of Financial Manager(s) are earning less than 4,760 OMR while 25% are earning more than 4,760 OMR.
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 Financial Manager salaries by experience level and this is what we found.
A Financial Manager with less than two years of experience makes approximately 1,840 OMR per month.
While someone with an experience level between two and five years is expected to earn 2,540 OMR per month, 38% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 3,620 OMR per month, 42% more than someone with two to five years of experience.
Additionally, Financial Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 4,410 OMR per month, 22% 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 4,650 OMR 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 5,070 OMR per month, 9% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+38%|
|5 - 10 Years||+42%|
|10 - 15 Years||+22%|
|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 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 2,200 OMR per month.
While someone with a Bachelor's Degree gets a salary of 3,490 OMR per month, 58% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 4,840 OMR per month, 39% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Oman costs anywhere from 8,850 Rial Omani(s) to 26,500 Rial Omani(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 Financial Manager employees in Oman earn 14% more than their female counterparts on average.
Financial Manager(s) in Oman are likely to observe a salary increase of approximately 11% every 20 months. The national average annual increment for all professions combined is 7% granted to employees every 19 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 Oman for the year 2020. 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 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.
18% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 82% 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 Financial Manager is 87% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||880 OMR||-74%|
|Account Executive||1,510 OMR||-56%|
|Accounting Assistant||920 OMR||-73%|
|Accounting Associate||870 OMR||-74%|
|Accounting Clerk||740 OMR||-78%|
|Accounting Coordinator||1,050 OMR||-69%|
|Accounting Manager||2,630 OMR||-23%|
|Accounting Supervisor||1,710 OMR||-50%|
|Accounting Technician||900 OMR||-74%|
|Accounts Executive||1,560 OMR||-54%|
|Accounts Payable and Receivable Specialist||1,200 OMR||-65%|
|Accounts Payable Clerk||890 OMR||-74%|
|Accounts Payable Manager||2,510 OMR||-26%|
|Accounts Receivable Clerk||910 OMR||-73%|
|Accounts Receivable Manager||2,290 OMR||-33%|
|Assistant Accounting Manager||2,280 OMR||-33%|
|Assistant Auditor||1,230 OMR||-64%|
|Audit Supervisor||2,190 OMR||-36%|
|Auditing Clerk||940 OMR||-72%|
|Auditing Manager||2,630 OMR||-23%|
|Billing Coordinator||1,110 OMR||-67%|
|Billing Specialist||1,270 OMR||-63%|
|Billing Supervisor||1,910 OMR||-44%|
|Bookkeeping Specialist||1,230 OMR||-64%|
|Budget Analyst||2,200 OMR||-35%|
|Budget Manager||2,550 OMR||-25%|
|Business Support Analyst||1,380 OMR||-59%|
|Capital Markets Associate||1,760 OMR||-48%|
|Cash Flow Analyst||1,800 OMR||-47%|
|Cash Management Officer||1,400 OMR||-59%|
|Cashbook Clerk||850 OMR||-75%|
|Chartered Accountant||1,500 OMR||-56%|
|Collections Clerk||790 OMR||-77%|
|Collections Specialist||1,220 OMR||-64%|
|Corporate Treasurer||2,290 OMR||-33%|
|Cost Accountant||1,200 OMR||-65%|
|Cost Accounting Manager||2,530 OMR||-26%|
|Cost Analyst||1,950 OMR||-43%|
|Credit and Collection Manager||2,470 OMR||-27%|
|Credit and Collection Staff||940 OMR||-72%|
|Credit and Loans Officer||850 OMR||-75%|
|Credit Controller||1,720 OMR||-49%|
|Debt Adviser||2,080 OMR||-39%|
|Debt Collector||980 OMR||-71%|
|Debtors Clerk||820 OMR||-76%|
|Deputy CFO||3,470 OMR||+2%|
|Derivative Trader||2,130 OMR||-37%|
|Escrow Assistant||1,080 OMR||-68%|
|External Auditor||1,710 OMR||-50%|
|Finance Associate||1,110 OMR||-67%|
|Finance Executive||2,590 OMR||-24%|
|Finance Licensing Clerk||880 OMR||-74%|
|Finance Licensing Manager||2,240 OMR||-34%|
|Finance Licensing Specialist||1,350 OMR||-60%|
|Finance Officer||1,120 OMR||-67%|
|Finance President||3,790 OMR||+12%|
|Finance Relationship Manager||2,700 OMR||-21%|
|Finance Release Analyst||1,380 OMR||-59%|
|Finance Team Leader||2,640 OMR||-22%|
|Financial Actuary||1,840 OMR||-46%|
|Financial Administrator||2,070 OMR||-39%|
|Financial Analyst||2,140 OMR||-37%|
|Financial Applications Specialist||1,560 OMR||-54%|
|Financial Assistant||970 OMR||-71%|
|Financial Associate||1,000 OMR||-71%|
|Financial Claims Analyst||1,690 OMR||-50%|
|Financial Claims Manager||2,160 OMR||-36%|
|Financial Commercial Analyst||1,810 OMR||-47%|
|Financial Compliance Analyst||1,940 OMR||-43%|
|Financial Consultant||1,570 OMR||-54%|
|Financial Controller||2,030 OMR||-40%|
|Financial Coordinator||1,080 OMR||-68%|
|Financial Customer Service Manager||2,220 OMR||-35%|
|Financial Dealer and Broker||1,330 OMR||-61%|
|Financial Encoder||990 OMR||-71%|
|Financial Manager||3,260 OMR||-4%|
|Financial Operations Manager||3,220 OMR||-5%|
|Financial Policy Analyst||1,970 OMR||-42%|
|Financial Project Manager||2,620 OMR||-23%|
|Financial Quantitative Analyst||2,050 OMR||-40%|
|Financial Reporting Consultant||1,700 OMR||-50%|
|Financial Reporting Manager||2,430 OMR||-29%|
|Financial Services Sales Agent||1,350 OMR||-60%|
|Fixed Assets Administrator||1,320 OMR||-61%|
|Forensic Accountant||1,360 OMR||-60%|
|Fraud Detection Supervisor||1,440 OMR||-58%|
|Fraud Prevention Manager||2,540 OMR||-25%|
|Fund Accountant||1,150 OMR||-66%|
|Grants Coordinator||900 OMR||-74%|
|Internal Auditor||1,570 OMR||-54%|
|Internal Control Adviser||1,840 OMR||-46%|
|Internal Control Officer||1,080 OMR||-68%|
|Inventory Accountant||1,220 OMR||-64%|
|Investment Analyst||2,430 OMR||-29%|
|Investment Fund Manager||2,850 OMR||-16%|
|Investment Underwriter||1,050 OMR||-69%|
|Investor Relations Manager||2,470 OMR||-27%|
|KYC Team Leader||2,330 OMR||-31%|
|Management Economist||2,860 OMR||-16%|
|Payroll Clerk||1,120 OMR||-67%|
|Payroll Manager||2,260 OMR||-34%|
|Pensions Administrator||1,300 OMR||-62%|
|Pricing Analyst||2,050 OMR||-40%|
|Private Equity Analyst||2,190 OMR||-36%|
|Proposal Development Coordinator||1,090 OMR||-68%|
|Receivables Accountant||1,130 OMR||-67%|
|Regulatory Accountant||1,300 OMR||-62%|
|Retirement Plan Analyst||1,860 OMR||-45%|
|Revenue Management Specialist||2,060 OMR||-39%|
|Revenue Recognition Analyst||2,210 OMR||-35%|
|Risk Management Director||3,010 OMR||-11%|
|Risk Management Supervisor||2,390 OMR||-30%|
|Tax Accountant||1,180 OMR||-65%|
|Tax Advisor||1,800 OMR||-47%|
|Tax Associate||1,020 OMR||-70%|
|Tax Manager||2,370 OMR||-30%|
|Treasury Accountant||1,280 OMR||-62%|
|Treasury Analyst||1,960 OMR||-42%|
|Underwriting Assistant||810 OMR||-76%|
|Vice President of Finance||3,200 OMR||-6%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Oman earn 7% more than their private sector counterparts on average across all sectors.