A person working as Foreign Exchange Manager in Qatar typically earns around 24,700 QAR. Salaries range from 11,600 QAR (lowest) to 39,000 QAR (highest).
This is the average salary including housing, transport, and other benefits. Foreign Exchange Manager salaries in Qatar vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Minimum Salary 11,600 QAR |
Median 23,400 QAR |
Maximum 39,000 QAR |
Salaries for the position Foreign Exchange Manager in Qatar range from 11,600 QAR (starting salary) to 39,000 QAR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
With a median salary of 23,400 QAR, half of the professionals who work as Foreign Exchange Manager in Qatar earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Foreign Exchange Manager in Qatar earn less than 18,900 QAR, while 75% earn more. Similarly, the chart shows that 75% earn less than 26,900 QAR while 25% earn more.
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Foreign Exchange Manager in Qatar compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 14,200 QAR to 20,400 QAR. About 20% of salaries are below the 14,200 QAR mark, while 10% fall within the range of 20,400 QAR to 23,200 QAR. Only 5% of individuals have salaries exceeding 23,200 QAR.
0 - 2 Years | 13,400 QAR | |
2 - 5 Years | +38% | 18,400 QAR |
5 - 10 Years | +42% | 26,200 QAR |
10 - 15 Years | +22% | 32,000 QAR |
15 - 20 Years | +6% | 33,800 QAR |
20+ Years | +9% | 36,800 QAR |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Foreign Exchange Manager and this is what we found.
Employees with less than two years of experience earn approximately 13,400 QAR.
While someone with an experience level between two and five years is expected to earn 18,400 QAR, 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 26,200 QAR, 42% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 32,000 QAR, 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 33,800 QAR, 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 36,800 QAR, 9% more than people with fifteen to twenty years of experience.
Bachelor's Degree | 18,400 QAR | |
Master's Degree | +83% | 33,800 QAR |
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 salaries by education level for the position Foreign Exchange Manager in order to make a comparison.
Employees at this education level have an average salary of 18,400 QAR.
At this level, the average salary becomes 33,800 QAR, 83% more than the previous level.
A Master's degree program or any post-graduate program in Qatar costs anywhere from 78,700 QAR to 236,000 QAR 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 to a higher-paying job. The numbers seem to support the theory. 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? For the people who work as Foreign Exchange Manager in Qatar, the average difference between the salary of male and female employees is 10%.
Male | 25,900 QAR | |
Female | -9% | 23,600 QAR |
Individuals working as Foreign Exchange Manager in Qatar are likely to observe a salary increase of approximately 13% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
15% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 85% 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 | 85% | |
No Bonus | 15% |
The most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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. |
Example: | Example: |
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 fixed 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 minimum pay rate per hour for people working as Foreign Exchange Manager in Qatar is 67 QAR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Job Title | Average Salary |
Banking | -100% | |
AML Analyst | 22,600 QAR | -8% |
Assistant Bank Branch Manager | 20,000 QAR | -19% |
Assistant Bank Manager | 27,500 QAR | +11% |
ATM Manager | 22,700 QAR | -8% |
ATM Service Technician | 6,100 QAR | -75% |
Bank Accounts Analyst | 8,670 QAR | -65% |
Bank Accounts Collector | 5,180 QAR | -79% |
Bank Accounts Controller | 11,500 QAR | -53% |
Bank Accounts Executive | 16,700 QAR | -32% |
Bank Accounts Manager | 18,900 QAR | -23% |
Bank Auditing Manager | 19,200 QAR | -22% |
Bank Branch Manager | 27,900 QAR | +13% |
Bank Branch Operations Coordinator | 11,900 QAR | -52% |
Bank Clerk | 4,990 QAR | -80% |
Bank Client Service Associate | 7,050 QAR | -71% |
Bank Collector | 5,560 QAR | -77% |
Bank Compliance Specialist | 14,800 QAR | -40% |
Bank Manager | 31,600 QAR | +28% |
Bank Operational Risk Manager | 31,200 QAR | +26% |
Bank Operations Head | 33,900 QAR | +37% |
Bank Operations Officer | 12,500 QAR | -49% |
Bank Operations Specialist | 19,300 QAR | -22% |
Bank Process Manager | 18,500 QAR | -25% |
Bank Product Manager | 21,100 QAR | -14% |
Bank Programme Manager | 21,800 QAR | -12% |
Bank Project Manager | 24,400 QAR | -1% |
Bank Propositions Manager | 23,800 QAR | -4% |
Bank Quantitative Analyst | 15,400 QAR | -38% |
Bank Regional Manager | 32,300 QAR | +31% |
Bank Regional Risk Officer | 16,900 QAR | -31% |
Bank Relationship Manager | 23,100 QAR | -6% |
Bank Relationship Officer | 11,400 QAR | -54% |
Bank Sustainability Analyst | 18,500 QAR | -25% |
Bank Teller | 5,700 QAR | -77% |
Banker | 11,300 QAR | -54% |
Banking Business Analyst | 16,900 QAR | -31% |
Banking Business Development Officer | 10,700 QAR | -57% |
Banking Business Planning Executive | 24,100 QAR | -2% |
Banking Data Analyst | 18,600 QAR | -25% |
Banking Product Manager | 20,400 QAR | -17% |
Banking Reference Data Manager | 18,500 QAR | -25% |
Banking Regulatory Compliance Officer | 20,500 QAR | -17% |
Banking Risk Analyst | 16,200 QAR | -34% |
Banking Technical Analyst | 9,240 QAR | -63% |
Bankruptcy Coordinator | 12,400 QAR | -50% |
Bill and Account Collector | 6,090 QAR | -75% |
Blockchain Analyst | 13,700 QAR | -44% |
Blockchain Architect | 17,100 QAR | -31% |
Blockchain Auditor | 14,800 QAR | -40% |
Blockchain Compliance Analyst | 14,900 QAR | -40% |
Blockchain Consultant | 15,300 QAR | -38% |
Blockchain Trade Facilitator | 14,300 QAR | -42% |
Budget Analyst | 16,100 QAR | -35% |
Capital Risk Manager | 30,000 QAR | +22% |
Cards Marketing Manager | 20,500 QAR | -17% |
Cash Management Manager | 29,300 QAR | +19% |
Check Processing Manager | 21,100 QAR | -14% |
Chief Blockchain Officer | 17,800 QAR | -28% |
Commercial Vault Associate | 17,000 QAR | -31% |
Corporate Banker | 12,100 QAR | -51% |
Corporate Dealer | 17,900 QAR | -27% |
Credit Analyst | 13,000 QAR | -47% |
Credit and Collections Manager | 22,100 QAR | -10% |
Credit Card Fraud Investigator | 16,500 QAR | -33% |
Credit Portfolio Manager | 31,600 QAR | +28% |
Credit Risk Analyst | 18,600 QAR | -25% |
Credit Risk Associate | 17,900 QAR | -27% |
Cryptocurrency Accountant | 10,300 QAR | -58% |
Cryptocurrency Adviser | 21,500 QAR | -13% |
Cryptocurrency Analyst | 15,800 QAR | -36% |
Cryptocurrency Compliance Manager | 19,100 QAR | -23% |
Cryptocurrency Trader | 16,700 QAR | -32% |
Digital Banking Manager | 21,600 QAR | -12% |
Digital Currency Analyst | 17,100 QAR | -31% |
Direct Bank Sales Representative | 12,200 QAR | -51% |
Exchange Control Consultant | 18,000 QAR | -27% |
Executive Account Analyst | 15,700 QAR | -36% |
Financial Bank Planning Consultant | 21,500 QAR | -13% |
Financial Banking Analysis Manager | 24,200 QAR | -2% |
Financial Banking Assistant | 7,660 QAR | -69% |
Financial Banking Systems Manager | 23,600 QAR | -4% |
Foreign Exchange Manager | 24,700 QAR | +0% |
Fraud Analyst | 17,600 QAR | -29% |
Fraud Detection Associate | 11,900 QAR | -52% |
Fraud Detection Manager | 26,500 QAR | +7% |
Fraud Detection Supervisor | 14,100 QAR | -43% |
Internal Bank Audit Manager | 30,900 QAR | +25% |
Internal Bank Auditor | 16,000 QAR | -35% |
Internal Private Banker | 11,600 QAR | -53% |
International Banking Manager | 33,100 QAR | +34% |
Investment Banking Analyst | 24,900 QAR | +1% |
Loan Analyst | 15,800 QAR | -36% |
Loan Area Manager | 19,900 QAR | -19% |
Loan Audit Team Leader | 18,600 QAR | -25% |
Loan Branch Manager | 18,000 QAR | -27% |
Loan Business Development Officer | 10,500 QAR | -57% |
Loan Clerk | 5,970 QAR | -76% |
Loan Collection and Recovery Manager | 19,200 QAR | -22% |
Loan Collection Manager | 19,700 QAR | -20% |
Loan Collector | 5,670 QAR | -77% |
Loan Examiner | 7,380 QAR | -70% |
Loan Officer | 6,510 QAR | -74% |
Loan Processing Manager | 17,800 QAR | -28% |
Loan Processor | 7,250 QAR | -71% |
Loan Quality Assurance Auditor | 17,600 QAR | -29% |
Loan Quality Assurance Manager | 19,100 QAR | -23% |
Loan Quality Assurance Representative | 12,400 QAR | -50% |
Loan Review Manager | 18,300 QAR | -26% |
Loan Team Leader | 17,600 QAR | -29% |
Loans Manager | 21,800 QAR | -12% |
Mortgage Advisor | 11,900 QAR | -52% |
Mortgage Collection Manager | 19,500 QAR | -21% |
Mortgage Collector | 5,320 QAR | -78% |
Mortgage Credit Analyst | 8,430 QAR | -66% |
Mortgage Credit Manager | 19,100 QAR | -23% |
Mortgage Development Manager | 21,400 QAR | -13% |
Mortgage Document Reviewer | 7,120 QAR | -71% |
Mortgage Funding Manager | 20,600 QAR | -17% |
Mortgage Operations Manager | 29,900 QAR | +21% |
Mortgage Payment Processing Clerk | 6,430 QAR | -74% |
Mortgage Processing Manager | 19,700 QAR | -20% |
Mortgage Processor | 7,550 QAR | -69% |
Mortgage Quality Assurance Auditor | 16,300 QAR | -34% |
Mortgage Quality Assurance Manager | 18,200 QAR | -26% |
Mortgage Servicing Clerk | 5,690 QAR | -77% |
Mortgage Servicing Manager | 17,600 QAR | -29% |
Mortgage Underwriter | 7,320 QAR | -70% |
Online Banking Manager | 30,300 QAR | +23% |
Open Banking Strategist | 18,000 QAR | -27% |
Payment Processing Clerk | 6,040 QAR | -76% |
Personal Banker | 11,800 QAR | -52% |
Personal Banking Advisor | 12,700 QAR | -49% |
Phone Banker | 8,150 QAR | -67% |
Private Banker | 12,000 QAR | -51% |
Reconciliation and Investigation Specialist | 14,200 QAR | -42% |
Tax Officer | 9,790 QAR | -60% |
Teller | 5,830 QAR | -76% |
Trade Officer | 6,890 QAR | -72% |
Trade Product Manager | 19,300 QAR | -22% |
Trader | 7,880 QAR | -68% |
Treasury Operations Officer | 15,200 QAR | -38% |
Wealth Management Advisor | 25,200 QAR | +2% |
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Qatar is 5% on average across all career fields.
Private Sector | 15,300 QAR | |
Public Sector | +5% | 16,100 QAR |
A good and competitive compensation would range anywhere between 23,400 QAR and 26,900 QAR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
The base salary for a careers like Foreign Exchange Manager in Qatar ranges from 11,600 QAR to 18,900 QAR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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