A person working as a Financial Manager in Bahrain typically earns around 2,940 BHD per month. Salaries range from 1,590 BHD (lowest) to 4,440 BHD (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 Bahrain range from 1,590 BHD per month (minimum salary) to 4,440 BHD per month (maximum salary).
The median salary is 2,700 BHD per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 2,700 BHD while the other half are earning more than 2,700 BHD. 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 1,930 BHD while 75% of them are earning more than 1,930 BHD. Also from the diagram, 75% of Financial Manager(s) are earning less than 3,280 BHD while 25% are earning more than 3,280 BHD.
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 BHD per month.
While someone with an experience level between two and five years is expected to earn 2,330 BHD 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 3,070 BHD per month, 32% 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 3,610 BHD 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 3,990 BHD 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 4,250 BHD per month, 6% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+26%|
|5 - 10 Years||+32%|
|10 - 15 Years||+18%|
|15 - 20 Years||+11%|
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 2,330 BHD per month.
While someone with a Bachelor's Degree gets a salary of 3,070 BHD per month, 32% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 4,210 BHD per month, 37% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Bahrain costs anywhere from 7,450 Bahraini Dinar(s) to 22,300 Bahraini Dinar(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 Bahrain earn 9% more than their female counterparts.
Financial Manager(s) in Bahrain are likely to observe a salary increase of approximately 9% every 30 months. The national average annual increment for all professions combined is 4% granted to employees every 29 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 Bahrain 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.
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.
40% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 60% 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.
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.
Where can you get paid more, working for a private company or for the government? Public sector Financial Manager employees in Bahrain earn 17% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+1%|
|Average Salary 2019||+2%|
Financial Manager salaries in Bahrain 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.
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 100% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||920 BHD||-69%|
|Account Executive||1,420 BHD||-52%|
|Accounting Assistant||1,020 BHD||-65%|
|Accounting Associate||1,020 BHD||-65%|
|Accounting Clerk||760 BHD||-74%|
|Accounting Coordinator||830 BHD||-72%|
|Accounting Manager||1,920 BHD||-35%|
|Accounting Supervisor||1,460 BHD||-50%|
|Accounting Technician||960 BHD||-67%|
|Accounts Executive||1,260 BHD||-57%|
|Accounts Payable and Receivable Specialist||1,240 BHD||-58%|
|Accounts Payable Clerk||760 BHD||-74%|
|Accounts Payable Manager||1,570 BHD||-47%|
|Accounts Receivable Clerk||850 BHD||-71%|
|Accounts Receivable Manager||1,730 BHD||-41%|
|Assistant Accounting Manager||1,240 BHD||-58%|
|Assistant Auditor||1,160 BHD||-61%|
|Audit Supervisor||2,030 BHD||-31%|
|Auditing Clerk||1,020 BHD||-65%|
|Auditing Manager||2,060 BHD||-30%|
|Billing Coordinator||1,240 BHD||-58%|
|Billing Specialist||1,150 BHD||-61%|
|Billing Supervisor||1,500 BHD||-49%|
|Bookkeeping Specialist||1,100 BHD||-63%|
|Budget Analyst||1,200 BHD||-59%|
|Budget Manager||1,780 BHD||-39%|
|Business Support Analyst||1,410 BHD||-52%|
|Capital Markets Associate||1,580 BHD||-46%|
|Cash Flow Analyst||1,530 BHD||-48%|
|Cash Management Officer||1,480 BHD||-50%|
|Cashbook Clerk||910 BHD||-69%|
|Chartered Accountant||1,250 BHD||-57%|
|Collections Clerk||790 BHD||-73%|
|Collections Specialist||1,050 BHD||-64%|
|Corporate Treasurer||2,770 BHD||-6%|
|Cost Accountant||1,270 BHD||-57%|
|Cost Accounting Manager||1,550 BHD||-47%|
|Cost Analyst||1,480 BHD||-50%|
|Credit and Collection Manager||1,730 BHD||-41%|
|Credit and Collection Staff||870 BHD||-70%|
|Credit and Loans Officer||850 BHD||-71%|
|Credit Controller||1,470 BHD||-50%|
|Debt Adviser||1,770 BHD||-40%|
|Debt Collector||1,270 BHD||-57%|
|Debtors Clerk||1,050 BHD||-64%|
|Deputy CFO||2,680 BHD||-9%|
|Derivative Trader||2,160 BHD||-26%|
|Escrow Assistant||1,250 BHD||-57%|
|External Auditor||1,540 BHD||-48%|
|Finance Associate||1,180 BHD||-60%|
|Finance Executive||2,480 BHD||-16%|
|Finance Licensing Clerk||910 BHD||-69%|
|Finance Licensing Manager||1,490 BHD||-49%|
|Finance Licensing Specialist||1,190 BHD||-59%|
|Finance Officer||1,670 BHD||-43%|
|Finance President||3,000 BHD||+2%|
|Finance Relationship Manager||2,140 BHD||-27%|
|Finance Release Analyst||1,340 BHD||-54%|
|Finance Team Leader||1,600 BHD||-46%|
|Financial Actuary||1,550 BHD||-47%|
|Financial Administrator||1,230 BHD||-58%|
|Financial Analyst||1,530 BHD||-48%|
|Financial Applications Specialist||1,030 BHD||-65%|
|Financial Assistant||950 BHD||-68%|
|Financial Associate||1,170 BHD||-60%|
|Financial Claims Analyst||1,390 BHD||-53%|
|Financial Claims Manager||1,600 BHD||-46%|
|Financial Commercial Analyst||1,330 BHD||-55%|
|Financial Compliance Analyst||1,570 BHD||-47%|
|Financial Consultant||1,360 BHD||-54%|
|Financial Controller||1,470 BHD||-50%|
|Financial Coordinator||1,310 BHD||-55%|
|Financial Customer Service Manager||1,850 BHD||-37%|
|Financial Dealer and Broker||1,280 BHD||-56%|
|Financial Encoder||840 BHD||-71%|
|Financial Manager||2,920 BHD||-1%|
|Financial Operations Manager||2,170 BHD||-26%|
|Financial Policy Analyst||1,470 BHD||-50%|
|Financial Project Manager||1,380 BHD||-53%|
|Financial Quantitative Analyst||1,590 BHD||-46%|
|Financial Reporting Consultant||1,440 BHD||-51%|
|Financial Reporting Manager||1,790 BHD||-39%|
|Financial Services Sales Agent||1,360 BHD||-54%|
|Fixed Assets Administrator||1,220 BHD||-58%|
|Forensic Accountant||1,210 BHD||-59%|
|Fraud Detection Supervisor||1,470 BHD||-50%|
|Fraud Prevention Manager||2,060 BHD||-30%|
|Fund Accountant||1,080 BHD||-63%|
|Grants Coordinator||960 BHD||-67%|
|Internal Auditor||1,590 BHD||-46%|
|Internal Control Adviser||1,640 BHD||-44%|
|Internal Control Officer||1,280 BHD||-56%|
|Inventory Accountant||2,320 BHD||-21%|
|Investment Analyst||1,960 BHD||-33%|
|Investment Fund Manager||1,940 BHD||-34%|
|Investment Underwriter||880 BHD||-70%|
|Investor Relations Manager||1,890 BHD||-36%|
|KYC Team Leader||1,860 BHD||-37%|
|Management Economist||1,690 BHD||-42%|
|Payroll Clerk||920 BHD||-69%|
|Payroll Manager||1,590 BHD||-46%|
|Pensions Administrator||1,170 BHD||-60%|
|Pricing Analyst||1,730 BHD||-41%|
|Private Equity Analyst||1,720 BHD||-41%|
|Proposal Development Coordinator||1,160 BHD||-61%|
|Receivables Accountant||970 BHD||-67%|
|Regulatory Accountant||1,140 BHD||-61%|
|Retirement Plan Analyst||1,600 BHD||-46%|
|Revenue Management Specialist||1,240 BHD||-58%|
|Revenue Recognition Analyst||1,860 BHD||-37%|
|Risk Management Director||2,450 BHD||-17%|
|Risk Management Supervisor||1,730 BHD||-41%|
|Tax Accountant||1,120 BHD||-62%|
|Tax Advisor||1,420 BHD||-52%|
|Tax Associate||1,100 BHD||-63%|
|Tax Manager||2,110 BHD||-28%|
|Treasury Accountant||1,150 BHD||-61%|
|Treasury Analyst||1,650 BHD||-44%|
|Underwriting Assistant||800 BHD||-73%|
|Vice President of Finance||2,260 BHD||-23%|