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Accounting and Finance Average Salaries in Oman 2021

How much money does a person working in Accounting and Finance make in Oman?


Average Monthly Salary
1,820 OMR
( 21,900 OMR yearly)

LOW
740
OMR
AVERAGE
1,820
OMR
HIGH
3,660
OMR

A person working in Accounting and Finance in Oman typically earns around 1,820 OMR per month. Salaries range from 740 OMR (lowest average) to 3,660 OMR (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Account Examiner880 OMR
Account Executive1,510 OMR
Accountant1,220 OMR
Accounting Assistant920 OMR
Accounting Associate870 OMR
Accounting Clerk740 OMR
Accounting Coordinator1,050 OMR
Accounting Manager2,630 OMR
Accounting Supervisor1,710 OMR
Accounting Technician900 OMR
Accounts Executive1,560 OMR
Accounts Payable and Receivable Specialist1,200 OMR
Accounts Payable Clerk890 OMR
Accounts Payable Manager2,510 OMR
Accounts Receivable Clerk910 OMR
Accounts Receivable Manager2,290 OMR
Assistant Accounting Manager2,280 OMR
Assistant Auditor1,230 OMR
Audit Supervisor2,190 OMR
Auditing Clerk940 OMR
Auditing Manager2,630 OMR
Billing Coordinator1,110 OMR
Billing Specialist1,270 OMR
Billing Supervisor1,910 OMR
Bookkeeper790 OMR
Bookkeeping Specialist1,230 OMR
Budget Analyst2,200 OMR
Budget Manager2,550 OMR
Business Support Analyst1,380 OMR
Capital Markets Associate1,760 OMR
Cash Flow Analyst1,800 OMR
Cash Management Officer1,400 OMR
Cashbook Clerk850 OMR
Chartered Accountant1,500 OMR
Collections Clerk790 OMR
Collections Specialist1,220 OMR
Corporate Treasurer2,290 OMR
Cost Accountant1,200 OMR
Cost Accounting Manager2,530 OMR
Cost Analyst1,950 OMR
Credit and Collection Manager2,470 OMR
Credit and Collection Staff940 OMR
Credit and Loans Officer850 OMR
Credit Controller1,720 OMR
Debt Adviser2,080 OMR
Debt Collector980 OMR
Debtors Clerk820 OMR
Deputy CFO3,470 OMR
Derivative Trader2,130 OMR
Escrow Assistant1,080 OMR
External Auditor1,710 OMR
Finance Associate1,110 OMR
Finance Executive2,590 OMR
Finance Licensing Clerk880 OMR
Finance Licensing Manager2,240 OMR
Finance Licensing Specialist1,350 OMR
Finance Officer1,120 OMR
Finance President3,790 OMR
Finance Relationship Manager2,700 OMR
Finance Release Analyst1,380 OMR
Finance Team Leader 2,640 OMR
Financial Actuary1,840 OMR
Financial Administrator2,070 OMR
Financial Analyst2,140 OMR
Financial Applications Specialist1,560 OMR
Financial Assistant970 OMR
Financial Associate1,000 OMR
Financial Claims Analyst1,690 OMR
Financial Claims Manager2,160 OMR
Financial Commercial Analyst1,810 OMR
Financial Compliance Analyst1,940 OMR
Financial Consultant1,570 OMR
Financial Controller2,030 OMR
Financial Coordinator1,080 OMR
Financial Customer Service Manager2,220 OMR
Financial Dealer and Broker1,330 OMR
Financial Encoder990 OMR
Financial Manager3,260 OMR
Financial Manager3,400 OMR
Financial Operations Manager3,220 OMR
Financial Policy Analyst1,970 OMR
Financial Project Manager2,620 OMR
Financial Quantitative Analyst2,050 OMR
Financial Reporting Consultant1,700 OMR
Financial Reporting Manager2,430 OMR
Financial Services Sales Agent1,350 OMR
Fixed Assets Administrator1,320 OMR
Forensic Accountant1,360 OMR
Fraud Detection Supervisor1,440 OMR
Fraud Prevention Manager2,540 OMR
Fund Accountant1,150 OMR
Grants Coordinator900 OMR
Internal Auditor1,570 OMR
Internal Control Adviser1,840 OMR
Internal Control Officer1,080 OMR
Inventory Accountant1,220 OMR
Investment Analyst2,430 OMR
Investment Fund Manager2,850 OMR
Investment Underwriter1,050 OMR
Investor1,640 OMR
Investor Relations Manager2,470 OMR
KYC Team Leader2,330 OMR
Management Economist2,860 OMR
Paymaster1,010 OMR
Payroll Clerk1,120 OMR
Payroll Manager2,260 OMR
Pensions Administrator1,300 OMR
Pricing Analyst2,050 OMR
Private Equity Analyst2,190 OMR
Proposal Development Coordinator1,090 OMR
Receivables Accountant1,130 OMR
Regulatory Accountant1,300 OMR
Retirement Plan Analyst1,860 OMR
Revenue Management Specialist2,060 OMR
Revenue Recognition Analyst2,210 OMR
Risk Management Director3,010 OMR
Risk Management Supervisor2,390 OMR
Tax Accountant1,180 OMR
Tax Advisor1,800 OMR
Tax Associate1,020 OMR
Tax Manager2,370 OMR
Teller710 OMR
Treasury Accountant1,280 OMR
Treasury Analyst1,960 OMR
Underwriter890 OMR
Underwriting Assistant810 OMR
Vice President of Finance3,200 OMR

Accounting and Finance Jobs Salary Distribution in Oman

Median and salary distribution monthly Oman Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Oman range from 740 OMR per month (minimum average salary) to 3,660 OMR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 1,790 OMR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 1,790 OMR while the other half are earning more than 1,790 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 people working in Accounting and Finance are earning less than 1,140 OMR while 75% of them are earning more than 1,140 OMR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 2,670 OMR while 25% are earning more than 2,670 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

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

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.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender monthly Oman Accounting and Finance
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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 employees in Oman who work in Accounting and Finance earn 16% more than their female counterparts on average.

Male
1,970 OMR
Female-14%
1,690 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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Accounting and Finance Average Annual Salary Increment Percentage in Oman

How much are annual salary increments in Oman for Accounting and Finance professionals? How often do employees get salary raises?

Accounting and Finance

Accounting and Finance professionals in Oman are likely to observe a salary increase of approximately 9% every 17 months. The national average annual increment for all professions combined is 7% granted to employees every 19 months.

Annual Salary Increment Rate Oman Accounting and Finance
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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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Accounting and Finance Bonus and Incentive Rates in Oman

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Oman Accounting and Finance
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Accounting and Finance is considered to be a high bonus-based field 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.

26% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 74% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
74%
No Bonus
26%

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.

Accounting and Finance Hourly Average Wage in Oman


11 OMR per hour

The average hourly wage (pay per hour) in Oman is 11 OMR. This means that the average person in Oman earns approximately 11 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.

Accounting and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance monthly Oman
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Muscat1,930 OMR
Salalah1,840 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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