A person working as a Financial Analyst in Saudi Arabia typically earns around 21,000 SAR per month. Salaries range from 11,300 SAR (lowest) to 31,700 SAR (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Analyst salaries in Saudi Arabia range from 11,300 SAR per month (minimum salary) to 31,700 SAR per month (maximum salary).
The median salary is 19,300 SAR per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 19,300 SAR while the other half are earning more than 19,300 SAR. 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 Analyst(s) are earning less than 13,800 SAR while 75% of them are earning more than 13,800 SAR. Also from the diagram, 75% of Financial Analyst(s) are earning less than 23,400 SAR while 25% are earning more than 23,400 SAR.
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 Analyst salaries by experience level and this is what we found.
A Financial Analyst with less than two years of experience makes approximately 13,200 SAR per month.
While someone with an experience level between two and five years is expected to earn 16,600 SAR 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 21,900 SAR per month, 32% more than someone with two to five years of experience.
Additionally, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 25,800 SAR 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 28,500 SAR 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 30,300 SAR 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 Analyst salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Financial Analyst is 16,000 SAR per month.
While someone with a Certificate or Diploma gets a salary of 18,000 SAR per month, 13% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 23,700 SAR per month, 32% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 29,400 SAR per month, 24% more than someone with Bachelor's Degree.
|Certificate or Diploma||+13%|
A Master's degree program or any post-graduate program in Saudi Arabia costs anywhere from 83,500 Saudi Riyal(s) to 251,000 Saudi Riyal(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 Analyst employees in Saudi Arabia earn 9% more than their female counterparts on average.
Financial Analyst(s) in Saudi Arabia are likely to observe a salary increase of approximately 12% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 17 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 Saudi Arabia 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.
A Financial Analyst is considered to be a moderate 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.
49% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 51% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% to 5% 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.
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 Analyst is 22% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||8,040 SAR||-62%|
|Account Executive||15,000 SAR||-28%|
|Accounting Assistant||8,240 SAR||-61%|
|Accounting Associate||8,250 SAR||-61%|
|Accounting Clerk||6,800 SAR||-68%|
|Accounting Coordinator||9,650 SAR||-54%|
|Accounting Manager||24,900 SAR||+19%|
|Accounting Supervisor||15,500 SAR||-26%|
|Accounting Technician||8,160 SAR||-61%|
|Accounts Executive||13,900 SAR||-34%|
|Accounts Payable and Receivable Specialist||11,700 SAR||-44%|
|Accounts Payable Clerk||8,620 SAR||-59%|
|Accounts Payable Manager||22,700 SAR||+8%|
|Accounts Receivable Clerk||8,470 SAR||-60%|
|Accounts Receivable Manager||22,000 SAR||+5%|
|Assistant Accounting Manager||20,400 SAR||-3%|
|Assistant Auditor||11,500 SAR||-45%|
|Audit Supervisor||19,700 SAR||-6%|
|Auditing Clerk||8,480 SAR||-60%|
|Auditing Manager||24,000 SAR||+14%|
|Billing Coordinator||10,600 SAR||-49%|
|Billing Specialist||12,100 SAR||-42%|
|Billing Supervisor||17,100 SAR||-18%|
|Bookkeeping Specialist||11,100 SAR||-47%|
|Budget Analyst||18,900 SAR||-10%|
|Budget Manager||22,500 SAR||+7%|
|Business Support Analyst||13,000 SAR||-38%|
|Capital Markets Associate||16,800 SAR||-20%|
|Cash Flow Analyst||16,300 SAR||-22%|
|Cash Management Officer||13,400 SAR||-36%|
|Cashbook Clerk||7,840 SAR||-63%|
|Chartered Accountant||14,800 SAR||-29%|
|Collections Clerk||7,080 SAR||-66%|
|Collections Specialist||11,300 SAR||-46%|
|Corporate Treasurer||21,300 SAR||+2%|
|Cost Accountant||11,200 SAR||-47%|
|Cost Accounting Manager||21,900 SAR||+4%|
|Cost Analyst||17,400 SAR||-17%|
|Credit and Collection Manager||21,800 SAR||+4%|
|Credit and Collection Staff||8,720 SAR||-58%|
|Credit and Loans Officer||7,810 SAR||-63%|
|Credit Controller||15,300 SAR||-27%|
|Debt Adviser||18,500 SAR||-12%|
|Debt Collector||8,950 SAR||-57%|
|Debtors Clerk||7,910 SAR||-62%|
|Deputy CFO||29,300 SAR||+40%|
|Derivative Trader||19,300 SAR||-8%|
|Escrow Assistant||10,500 SAR||-50%|
|External Auditor||16,000 SAR||-24%|
|Finance Associate||10,200 SAR||-51%|
|Finance Executive||24,200 SAR||+15%|
|Finance Licensing Clerk||7,890 SAR||-62%|
|Finance Licensing Manager||20,700 SAR||-1%|
|Finance Licensing Specialist||11,600 SAR||-45%|
|Finance Officer||10,300 SAR||-51%|
|Finance President||33,000 SAR||+57%|
|Finance Relationship Manager||26,600 SAR||+27%|
|Finance Release Analyst||12,700 SAR||-39%|
|Finance Team Leader||24,100 SAR||+15%|
|Financial Actuary||16,700 SAR||-20%|
|Financial Administrator||18,800 SAR||-10%|
|Financial Analyst||21,000 SAR||+0%|
|Financial Applications Specialist||13,600 SAR||-35%|
|Financial Assistant||8,710 SAR||-58%|
|Financial Associate||9,320 SAR||-56%|
|Financial Claims Analyst||15,500 SAR||-26%|
|Financial Claims Manager||20,400 SAR||-3%|
|Financial Commercial Analyst||15,700 SAR||-25%|
|Financial Compliance Analyst||17,400 SAR||-17%|
|Financial Consultant||15,600 SAR||-26%|
|Financial Controller||17,000 SAR||-19%|
|Financial Coordinator||10,200 SAR||-51%|
|Financial Customer Service Manager||21,400 SAR||+2%|
|Financial Dealer and Broker||12,700 SAR||-39%|
|Financial Encoder||9,340 SAR||-55%|
|Financial Manager||31,100 SAR||+48%|
|Financial Operations Manager||29,700 SAR||+42%|
|Financial Policy Analyst||17,600 SAR||-16%|
|Financial Project Manager||22,700 SAR||+8%|
|Financial Quantitative Analyst||19,700 SAR||-6%|
|Financial Reporting Consultant||17,000 SAR||-19%|
|Financial Reporting Manager||21,700 SAR||+4%|
|Financial Services Sales Agent||12,400 SAR||-41%|
|Fixed Assets Administrator||12,100 SAR||-42%|
|Forensic Accountant||13,400 SAR||-36%|
|Fraud Detection Supervisor||14,300 SAR||-32%|
|Fraud Prevention Manager||23,500 SAR||+12%|
|Fund Accountant||10,900 SAR||-48%|
|Grants Coordinator||8,490 SAR||-60%|
|Internal Auditor||15,100 SAR||-28%|
|Internal Control Adviser||18,300 SAR||-13%|
|Internal Control Officer||10,000 SAR||-52%|
|Inventory Accountant||11,300 SAR||-46%|
|Investment Analyst||22,200 SAR||+6%|
|Investment Fund Manager||24,200 SAR||+15%|
|Investment Underwriter||9,130 SAR||-56%|
|Investor Relations Manager||22,700 SAR||+8%|
|KYC Team Leader||20,800 SAR||-1%|
|Management Economist||26,300 SAR||+25%|
|Payroll Clerk||10,100 SAR||-52%|
|Payroll Manager||21,100 SAR||+1%|
|Pensions Administrator||11,900 SAR||-43%|
|Pricing Analyst||19,100 SAR||-9%|
|Private Equity Analyst||20,200 SAR||-4%|
|Proposal Development Coordinator||10,000 SAR||-52%|
|Receivables Accountant||10,100 SAR||-52%|
|Regulatory Accountant||12,700 SAR||-39%|
|Retirement Plan Analyst||18,500 SAR||-12%|
|Revenue Management Specialist||19,100 SAR||-9%|
|Revenue Recognition Analyst||20,800 SAR||-1%|
|Risk Management Director||26,500 SAR||+26%|
|Risk Management Supervisor||21,600 SAR||+3%|
|Tax Accountant||10,600 SAR||-49%|
|Tax Advisor||17,800 SAR||-15%|
|Tax Associate||9,440 SAR||-55%|
|Tax Manager||22,100 SAR||+5%|
|Treasury Accountant||11,700 SAR||-44%|
|Treasury Analyst||18,700 SAR||-11%|
|Underwriting Assistant||7,190 SAR||-66%|
|Vice President of Finance||31,900 SAR||+52%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Saudi Arabia earn 7% more than their private sector counterparts on average across all sectors.