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Financial Manager Average Salary in Bahrain 2020

How much money does a Financial Manager make in Bahrain?


Average Monthly Salary
2,940 BHD
( 35,300 BHD yearly)

LOW
1,590
BHD
AVERAGE
2,940
BHD
HIGH
4,440
BHD

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 Salary Distribution in Bahrain

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

  • Salary Range

    Financial Manager salaries in Bahrain range from 1,590 BHD per month (minimum salary) to 4,440 BHD per month (maximum salary).

  • Median 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.

  • 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 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.


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 Bahrain 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 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.

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 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.


Financial Manager average salary change by experience in Bahrain

0 - 2 Years
1,840 BHD
2 - 5 Years+26%
2,330 BHD
5 - 10 Years+32%
3,070 BHD
10 - 15 Years+18%
3,610 BHD
15 - 20 Years+11%
3,990 BHD
20+ Years+6%
4,250 BHD
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 Bahrain 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 2,330 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.


Financial Manager average salary difference by education level in Bahrain

Certificate or Diploma
2,330 BHD
Bachelor's Degree+32%
3,070 BHD
Master's Degree+37%
4,210 BHD
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 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.


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 Bahrain 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 Bahrain earn 9% more than their female counterparts.

Female
2,780 BHD
Male+9%
3,050 BHD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Bahrain for all Careers

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

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

Financial Manager

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.

Annual Salary Increment Rate Bahrain 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.

Bahrain / All Professions

Annual Salary Increment Rate Bahrain
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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 Bahrain is 2%.

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 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.


Worldwide Salary Raises: All Countries and All Jobs

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Financial Manager Bonus and Incentive Rates in Bahrain

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

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.

Received Bonus
60%
No Bonus
40%

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 Bahrain
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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 Bahrain earn 17% more than their private sector counterparts.

Private Sector
1,390 BHD
Public Sector+17%
1,620 BHD
Percentage increase and decrease are relative to the previous value

Financial Manager Salary Trend and Forecast in Bahrain

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 Bahrain Financial Manager
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Average Salary 2016
2,700 BHD
Average Salary 2017+4%
2,800 BHD
Average Salary 2018+1%
2,840 BHD
Average Salary 2019+2%
2,880 BHD
Percentage increase and decrease are relative to the previous value

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.

Financial Manager Average Hourly Wage in Bahrain


17 BHD per hour

The average hourly wage (pay per hour) in Bahrain is 17 BHD. This means that the average Financial Manager in Bahrain earns approximately 17 BHD 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 Bahrain
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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 Examiner920 BHD-69%
Account Executive1,420 BHD-52%
Accountant1,040 BHD-65%
Accounting Assistant1,020 BHD-65%
Accounting Associate1,020 BHD-65%
Accounting Clerk760 BHD-74%
Accounting Coordinator830 BHD-72%
Accounting Manager1,920 BHD-35%
Accounting Supervisor1,460 BHD-50%
Accounting Technician960 BHD-67%
Accounts Executive1,260 BHD-57%
Accounts Payable and Receivable Specialist1,240 BHD-58%
Accounts Payable Clerk760 BHD-74%
Accounts Payable Manager1,570 BHD-47%
Accounts Receivable Clerk850 BHD-71%
Accounts Receivable Manager1,730 BHD-41%
Assistant Accounting Manager1,240 BHD-58%
Assistant Auditor1,160 BHD-61%
Audit Supervisor2,030 BHD-31%
Auditing Clerk1,020 BHD-65%
Auditing Manager2,060 BHD-30%
Billing Coordinator1,240 BHD-58%
Billing Specialist1,150 BHD-61%
Billing Supervisor1,500 BHD-49%
Bookkeeper760 BHD-74%
Bookkeeping Specialist1,100 BHD-63%
Budget Analyst1,200 BHD-59%
Budget Manager1,780 BHD-39%
Business Support Analyst1,410 BHD-52%
Capital Markets Associate1,580 BHD-46%
Cash Flow Analyst1,530 BHD-48%
Cash Management Officer1,480 BHD-50%
Cashbook Clerk910 BHD-69%
Chartered Accountant1,250 BHD-57%
Collections Clerk790 BHD-73%
Collections Specialist1,050 BHD-64%
Corporate Treasurer2,770 BHD-6%
Cost Accountant1,270 BHD-57%
Cost Accounting Manager1,550 BHD-47%
Cost Analyst1,480 BHD-50%
Credit and Collection Manager1,730 BHD-41%
Credit and Collection Staff870 BHD-70%
Credit and Loans Officer850 BHD-71%
Credit Controller1,470 BHD-50%
Debt Adviser1,770 BHD-40%
Debt Collector1,270 BHD-57%
Debtors Clerk1,050 BHD-64%
Deputy CFO2,680 BHD-9%
Derivative Trader2,160 BHD-26%
Escrow Assistant1,250 BHD-57%
External Auditor1,540 BHD-48%
Finance Associate1,180 BHD-60%
Finance Executive2,480 BHD-16%
Finance Licensing Clerk910 BHD-69%
Finance Licensing Manager1,490 BHD-49%
Finance Licensing Specialist1,190 BHD-59%
Finance Officer1,670 BHD-43%
Finance President3,000 BHD+2%
Finance Relationship Manager2,140 BHD-27%
Finance Release Analyst1,340 BHD-54%
Finance Team Leader 1,600 BHD-46%
Financial Actuary1,550 BHD-47%
Financial Administrator1,230 BHD-58%
Financial Analyst1,530 BHD-48%
Financial Applications Specialist1,030 BHD-65%
Financial Assistant950 BHD-68%
Financial Associate1,170 BHD-60%
Financial Claims Analyst1,390 BHD-53%
Financial Claims Manager1,600 BHD-46%
Financial Commercial Analyst1,330 BHD-55%
Financial Compliance Analyst1,570 BHD-47%
Financial Consultant1,360 BHD-54%
Financial Controller1,470 BHD-50%
Financial Coordinator1,310 BHD-55%
Financial Customer Service Manager1,850 BHD-37%
Financial Dealer and Broker1,280 BHD-56%
Financial Encoder840 BHD-71%
Financial Manager2,920 BHD-1%
Financial Operations Manager2,170 BHD-26%
Financial Policy Analyst1,470 BHD-50%
Financial Project Manager1,380 BHD-53%
Financial Quantitative Analyst1,590 BHD-46%
Financial Reporting Consultant1,440 BHD-51%
Financial Reporting Manager1,790 BHD-39%
Financial Services Sales Agent1,360 BHD-54%
Fixed Assets Administrator1,220 BHD-58%
Forensic Accountant1,210 BHD-59%
Fraud Detection Supervisor1,470 BHD-50%
Fraud Prevention Manager2,060 BHD-30%
Fund Accountant1,080 BHD-63%
Grants Coordinator960 BHD-67%
Internal Auditor1,590 BHD-46%
Internal Control Adviser1,640 BHD-44%
Internal Control Officer1,280 BHD-56%
Inventory Accountant2,320 BHD-21%
Investment Analyst1,960 BHD-33%
Investment Fund Manager1,940 BHD-34%
Investment Underwriter880 BHD-70%
Investor1,400 BHD-52%
Investor Relations Manager1,890 BHD-36%
KYC Team Leader1,860 BHD-37%
Management Economist1,690 BHD-42%
Paymaster1,160 BHD-61%
Payroll Clerk920 BHD-69%
Payroll Manager1,590 BHD-46%
Pensions Administrator1,170 BHD-60%
Pricing Analyst1,730 BHD-41%
Private Equity Analyst1,720 BHD-41%
Proposal Development Coordinator1,160 BHD-61%
Receivables Accountant970 BHD-67%
Regulatory Accountant1,140 BHD-61%
Retirement Plan Analyst1,600 BHD-46%
Revenue Management Specialist1,240 BHD-58%
Revenue Recognition Analyst1,860 BHD-37%
Risk Management Director2,450 BHD-17%
Risk Management Supervisor1,730 BHD-41%
Tax Accountant1,120 BHD-62%
Tax Advisor1,420 BHD-52%
Tax Associate1,100 BHD-63%
Tax Manager2,110 BHD-28%
Teller680 BHD-77%
Treasury Accountant1,150 BHD-61%
Treasury Analyst1,650 BHD-44%
Underwriter860 BHD-71%
Underwriting Assistant800 BHD-73%
Vice President of Finance2,260 BHD-23%
1806 - 9

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