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Financial Manager Average Salary in Oman 2021

How much money does a Financial Manager make in Oman?


Average Monthly Salary
3,400 OMR
( 40,800 OMR yearly)

LOW
1,600
OMR
AVERAGE
3,400
OMR
HIGH
5,370
OMR

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 Salary Distribution in Oman

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

  • Salary Range

    Financial Manager salaries in Oman range from 1,600 OMR per month (minimum salary) to 5,370 OMR per month (maximum salary).

  • Median 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.

  • 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 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.


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 Oman 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 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.

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 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.


Financial Manager average salary change by experience in Oman

0 - 2 Years
1,840 OMR
2 - 5 Years+38%
2,540 OMR
5 - 10 Years+42%
3,620 OMR
10 - 15 Years+22%
4,410 OMR
15 - 20 Years+6%
4,650 OMR
20+ Years+9%
5,070 OMR
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 Oman 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 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.


Financial Manager average salary difference by education level in Oman

Certificate or Diploma
2,200 OMR
Bachelor's Degree+58%
3,490 OMR
Master's Degree+39%
4,840 OMR
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 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.


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 Oman 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 Oman earn 14% more than their female counterparts on average.

Male
3,650 OMR
Female-12%
3,200 OMR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Oman for all Careers

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

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

Financial Manager

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.

Annual Salary Increment Rate Oman 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.

Oman / 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 Oman is 4%.

Annual Increment Rate By Industry 2020

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

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.


Worldwide Salary Raises: All Countries and All Jobs

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Financial Manager Bonus and Incentive Rates in Oman

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Oman 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.

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.

Received Bonus
82%
No Bonus
18%

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.

Financial Manager Average Hourly Wage in Oman


20 OMR per hour

The average hourly wage (pay per hour) in Oman is 20 OMR. This means that the average Financial Manager in Oman earns approximately 20 OMR 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 Oman
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner880 OMR-74%
Account Executive1,510 OMR-56%
Accountant1,220 OMR-64%
Accounting Assistant920 OMR-73%
Accounting Associate870 OMR-74%
Accounting Clerk740 OMR-78%
Accounting Coordinator1,050 OMR-69%
Accounting Manager2,630 OMR-23%
Accounting Supervisor1,710 OMR-50%
Accounting Technician900 OMR-74%
Accounts Executive1,560 OMR-54%
Accounts Payable and Receivable Specialist1,200 OMR-65%
Accounts Payable Clerk890 OMR-74%
Accounts Payable Manager2,510 OMR-26%
Accounts Receivable Clerk910 OMR-73%
Accounts Receivable Manager2,290 OMR-33%
Assistant Accounting Manager2,280 OMR-33%
Assistant Auditor1,230 OMR-64%
Audit Supervisor2,190 OMR-36%
Auditing Clerk940 OMR-72%
Auditing Manager2,630 OMR-23%
Billing Coordinator1,110 OMR-67%
Billing Specialist1,270 OMR-63%
Billing Supervisor1,910 OMR-44%
Bookkeeper790 OMR-77%
Bookkeeping Specialist1,230 OMR-64%
Budget Analyst2,200 OMR-35%
Budget Manager2,550 OMR-25%
Business Support Analyst1,380 OMR-59%
Capital Markets Associate1,760 OMR-48%
Cash Flow Analyst1,800 OMR-47%
Cash Management Officer1,400 OMR-59%
Cashbook Clerk850 OMR-75%
Chartered Accountant1,500 OMR-56%
Collections Clerk790 OMR-77%
Collections Specialist1,220 OMR-64%
Corporate Treasurer2,290 OMR-33%
Cost Accountant1,200 OMR-65%
Cost Accounting Manager2,530 OMR-26%
Cost Analyst1,950 OMR-43%
Credit and Collection Manager2,470 OMR-27%
Credit and Collection Staff940 OMR-72%
Credit and Loans Officer850 OMR-75%
Credit Controller1,720 OMR-49%
Debt Adviser2,080 OMR-39%
Debt Collector980 OMR-71%
Debtors Clerk820 OMR-76%
Deputy CFO3,470 OMR+2%
Derivative Trader2,130 OMR-37%
Escrow Assistant1,080 OMR-68%
External Auditor1,710 OMR-50%
Finance Associate1,110 OMR-67%
Finance Executive2,590 OMR-24%
Finance Licensing Clerk880 OMR-74%
Finance Licensing Manager2,240 OMR-34%
Finance Licensing Specialist1,350 OMR-60%
Finance Officer1,120 OMR-67%
Finance President3,790 OMR+12%
Finance Relationship Manager2,700 OMR-21%
Finance Release Analyst1,380 OMR-59%
Finance Team Leader 2,640 OMR-22%
Financial Actuary1,840 OMR-46%
Financial Administrator2,070 OMR-39%
Financial Analyst2,140 OMR-37%
Financial Applications Specialist1,560 OMR-54%
Financial Assistant970 OMR-71%
Financial Associate1,000 OMR-71%
Financial Claims Analyst1,690 OMR-50%
Financial Claims Manager2,160 OMR-36%
Financial Commercial Analyst1,810 OMR-47%
Financial Compliance Analyst1,940 OMR-43%
Financial Consultant1,570 OMR-54%
Financial Controller2,030 OMR-40%
Financial Coordinator1,080 OMR-68%
Financial Customer Service Manager2,220 OMR-35%
Financial Dealer and Broker1,330 OMR-61%
Financial Encoder990 OMR-71%
Financial Manager3,260 OMR-4%
Financial Operations Manager3,220 OMR-5%
Financial Policy Analyst1,970 OMR-42%
Financial Project Manager2,620 OMR-23%
Financial Quantitative Analyst2,050 OMR-40%
Financial Reporting Consultant1,700 OMR-50%
Financial Reporting Manager2,430 OMR-29%
Financial Services Sales Agent1,350 OMR-60%
Fixed Assets Administrator1,320 OMR-61%
Forensic Accountant1,360 OMR-60%
Fraud Detection Supervisor1,440 OMR-58%
Fraud Prevention Manager2,540 OMR-25%
Fund Accountant1,150 OMR-66%
Grants Coordinator900 OMR-74%
Internal Auditor1,570 OMR-54%
Internal Control Adviser1,840 OMR-46%
Internal Control Officer1,080 OMR-68%
Inventory Accountant1,220 OMR-64%
Investment Analyst2,430 OMR-29%
Investment Fund Manager2,850 OMR-16%
Investment Underwriter1,050 OMR-69%
Investor1,640 OMR-52%
Investor Relations Manager2,470 OMR-27%
KYC Team Leader2,330 OMR-31%
Management Economist2,860 OMR-16%
Paymaster1,010 OMR-70%
Payroll Clerk1,120 OMR-67%
Payroll Manager2,260 OMR-34%
Pensions Administrator1,300 OMR-62%
Pricing Analyst2,050 OMR-40%
Private Equity Analyst2,190 OMR-36%
Proposal Development Coordinator1,090 OMR-68%
Receivables Accountant1,130 OMR-67%
Regulatory Accountant1,300 OMR-62%
Retirement Plan Analyst1,860 OMR-45%
Revenue Management Specialist2,060 OMR-39%
Revenue Recognition Analyst2,210 OMR-35%
Risk Management Director3,010 OMR-11%
Risk Management Supervisor2,390 OMR-30%
Tax Accountant1,180 OMR-65%
Tax Advisor1,800 OMR-47%
Tax Associate1,020 OMR-70%
Tax Manager2,370 OMR-30%
Teller710 OMR-79%
Treasury Accountant1,280 OMR-62%
Treasury Analyst1,960 OMR-42%
Underwriter890 OMR-74%
Underwriting Assistant810 OMR-76%
Vice President of Finance3,200 OMR-6%

Salary Comparison By City

CityAverage Salary
Muscat3,870 OMR
Salalah3,720 OMR

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 Oman earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
1,700 OMR
Public Sector+7%
1,820 OMR
Percentage increase and decrease are relative to the previous value

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