A person working as a Financial Manager in Spain typically earns around 9,700 EUR per month. Salaries range from 4,950 EUR (lowest) to 14,900 EUR (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 Spain range from 4,950 EUR per month (minimum salary) to 14,900 EUR per month (maximum salary).
The median salary is 9,510 EUR per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 9,510 EUR while the other half are earning more than 9,510 EUR. 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 6,500 EUR while 75% of them are earning more than 6,500 EUR. Also from the diagram, 75% of Financial Manager(s) are earning less than 12,000 EUR while 25% are earning more than 12,000 EUR.
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 5,550 EUR per month.
While someone with an experience level between two and five years is expected to earn 7,240 EUR per month, 31% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 10,100 EUR per month, 40% 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 12,200 EUR per month, 20% 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 13,200 EUR per month, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 14,300 EUR per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+31%|
|5 - 10 Years||+40%|
|10 - 15 Years||+20%|
|15 - 20 Years||+9%|
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 6,350 EUR per month.
While someone with a Bachelor's Degree gets a salary of 9,540 EUR per month, 50% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 14,100 EUR per month, 48% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Spain costs anywhere from 25,100 Euro(s) to 75,200 Euro(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 Spain earn 6% more than their female counterparts.
Financial Manager(s) in Spain are likely to observe a salary increase of approximately 13% every 18 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 Spain 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.
18% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 82% 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.
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 Spain earn 5% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+2%|
|Average Salary 2019||+3%|
Financial Manager salaries in Spain are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% 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 99% 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||3,470 EUR||-64%|
|Account Executive||4,700 EUR||-52%|
|Accounting Assistant||3,670 EUR||-62%|
|Accounting Associate||3,720 EUR||-62%|
|Accounting Clerk||2,760 EUR||-72%|
|Accounting Coordinator||3,160 EUR||-67%|
|Accounting Manager||6,370 EUR||-34%|
|Accounting Supervisor||5,050 EUR||-48%|
|Accounting Technician||3,280 EUR||-66%|
|Accounts Executive||4,660 EUR||-52%|
|Accounts Payable and Receivable Specialist||4,000 EUR||-59%|
|Accounts Payable Clerk||2,720 EUR||-72%|
|Accounts Payable Manager||5,140 EUR||-47%|
|Accounts Receivable Clerk||2,910 EUR||-70%|
|Accounts Receivable Manager||5,470 EUR||-44%|
|Assistant Accounting Manager||4,360 EUR||-55%|
|Assistant Auditor||4,020 EUR||-59%|
|Audit Supervisor||6,550 EUR||-32%|
|Auditing Clerk||3,490 EUR||-64%|
|Auditing Manager||6,930 EUR||-29%|
|Billing Coordinator||4,240 EUR||-56%|
|Billing Specialist||3,940 EUR||-59%|
|Billing Supervisor||4,950 EUR||-49%|
|Bookkeeping Specialist||3,700 EUR||-62%|
|Budget Analyst||4,310 EUR||-56%|
|Budget Manager||6,150 EUR||-37%|
|Business Support Analyst||4,820 EUR||-50%|
|Capital Markets Associate||5,560 EUR||-43%|
|Cash Flow Analyst||5,250 EUR||-46%|
|Cash Management Officer||4,980 EUR||-49%|
|Cashbook Clerk||3,240 EUR||-67%|
|Chartered Accountant||4,620 EUR||-52%|
|Collections Clerk||2,920 EUR||-70%|
|Collections Specialist||3,690 EUR||-62%|
|Corporate Treasurer||9,110 EUR||-6%|
|Cost Accountant||4,150 EUR||-57%|
|Cost Accounting Manager||5,700 EUR||-41%|
|Cost Analyst||5,410 EUR||-44%|
|Credit and Collection Manager||5,960 EUR||-39%|
|Credit and Collection Staff||2,960 EUR||-69%|
|Credit and Loans Officer||3,220 EUR||-67%|
|Credit Controller||5,140 EUR||-47%|
|Debt Adviser||6,060 EUR||-38%|
|Debt Collector||4,390 EUR||-55%|
|Debtors Clerk||3,970 EUR||-59%|
|Deputy CFO||8,810 EUR||-9%|
|Derivative Trader||7,290 EUR||-25%|
|Escrow Assistant||4,020 EUR||-59%|
|External Auditor||5,220 EUR||-46%|
|Finance Associate||4,130 EUR||-57%|
|Finance Executive||8,150 EUR||-16%|
|Finance Licensing Clerk||3,300 EUR||-66%|
|Finance Licensing Manager||5,080 EUR||-48%|
|Finance Licensing Specialist||4,090 EUR||-58%|
|Finance Officer||5,660 EUR||-42%|
|Finance President||9,680 EUR||-0%|
|Finance Relationship Manager||6,940 EUR||-28%|
|Finance Release Analyst||4,840 EUR||-50%|
|Finance Team Leader||5,740 EUR||-41%|
|Financial Actuary||5,340 EUR||-45%|
|Financial Administrator||4,300 EUR||-56%|
|Financial Analyst||5,310 EUR||-45%|
|Financial Applications Specialist||3,540 EUR||-64%|
|Financial Assistant||3,260 EUR||-66%|
|Financial Associate||3,890 EUR||-60%|
|Financial Claims Analyst||5,010 EUR||-48%|
|Financial Claims Manager||5,640 EUR||-42%|
|Financial Commercial Analyst||4,720 EUR||-51%|
|Financial Compliance Analyst||5,140 EUR||-47%|
|Financial Consultant||4,990 EUR||-49%|
|Financial Controller||4,800 EUR||-51%|
|Financial Coordinator||4,480 EUR||-54%|
|Financial Customer Service Manager||5,790 EUR||-40%|
|Financial Dealer and Broker||4,580 EUR||-53%|
|Financial Encoder||3,000 EUR||-69%|
|Financial Manager||9,700 EUR||+0%|
|Financial Operations Manager||6,890 EUR||-29%|
|Financial Policy Analyst||5,110 EUR||-47%|
|Financial Project Manager||5,140 EUR||-47%|
|Financial Quantitative Analyst||5,570 EUR||-43%|
|Financial Reporting Consultant||4,980 EUR||-49%|
|Financial Reporting Manager||6,130 EUR||-37%|
|Financial Services Sales Agent||4,700 EUR||-52%|
|Fixed Assets Administrator||4,030 EUR||-58%|
|Forensic Accountant||4,070 EUR||-58%|
|Fraud Detection Supervisor||4,610 EUR||-52%|
|Fraud Prevention Manager||6,870 EUR||-29%|
|Fund Accountant||3,710 EUR||-62%|
|Grants Coordinator||3,540 EUR||-64%|
|Internal Auditor||5,290 EUR||-45%|
|Internal Control Adviser||5,120 EUR||-47%|
|Internal Control Officer||4,390 EUR||-55%|
|Inventory Accountant||7,720 EUR||-20%|
|Investment Analyst||6,290 EUR||-35%|
|Investment Fund Manager||7,110 EUR||-27%|
|Investment Underwriter||3,420 EUR||-65%|
|Investor Relations Manager||6,380 EUR||-34%|
|KYC Team Leader||6,370 EUR||-34%|
|Management Economist||5,720 EUR||-41%|
|Payroll Clerk||3,160 EUR||-67%|
|Payroll Manager||5,140 EUR||-47%|
|Pensions Administrator||4,100 EUR||-58%|
|Pricing Analyst||5,550 EUR||-43%|
|Private Equity Analyst||5,830 EUR||-40%|
|Proposal Development Coordinator||4,040 EUR||-58%|
|Receivables Accountant||3,480 EUR||-64%|
|Regulatory Accountant||4,060 EUR||-58%|
|Retirement Plan Analyst||5,010 EUR||-48%|
|Revenue Management Specialist||4,280 EUR||-56%|
|Revenue Recognition Analyst||6,500 EUR||-33%|
|Risk Management Director||7,930 EUR||-18%|
|Risk Management Supervisor||6,200 EUR||-36%|
|Tax Accountant||3,810 EUR||-61%|
|Tax Advisor||5,180 EUR||-47%|
|Tax Associate||4,060 EUR||-58%|
|Tax Manager||7,370 EUR||-24%|
|Treasury Accountant||4,010 EUR||-59%|
|Treasury Analyst||5,230 EUR||-46%|
|Underwriting Assistant||3,090 EUR||-68%|
|Vice President of Finance||6,900 EUR||-29%|
|Las Palmas||9,150 EUR|
|Palma de Mallorca||9,280 EUR|