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Financial Manager Average Salary in Spain 2020

How much money does a Financial Manager make in Spain?

Average Monthly Salary
9,700 EUR
( 116,000 EUR yearly)


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 Salary Distribution in Spain

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

  • Salary Range

    Financial Manager salaries in Spain range from 4,950 EUR per month (minimum salary) to 14,900 EUR per month (maximum salary).

  • Median 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.

  • 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 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.

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 Spain 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 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.

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 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.

Financial Manager average salary change by experience in Spain

0 - 2 Years
5,550 EUR
2 - 5 Years+31%
7,240 EUR
5 - 10 Years+40%
10,100 EUR
10 - 15 Years+20%
12,200 EUR
15 - 20 Years+9%
13,200 EUR
20+ Years+8%
14,300 EUR
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 Spain 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 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.

Financial Manager average salary difference by education level in Spain

Certificate or Diploma
6,350 EUR
Bachelor's Degree+50%
9,540 EUR
Master's Degree+48%
14,100 EUR
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 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.

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 Spain 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 Spain earn 6% more than their female counterparts.

9,400 EUR
10,000 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Spain for all Careers

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

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

Financial Manager

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.

Annual Salary Increment Rate Spain 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.

Spain / All Professions

Annual Salary Increment Rate Spain
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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 Spain is 6%.

Annual Increment Rate By Industry 2019

Information Technology

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.

Worldwide Salary Raises: All Countries and All Jobs

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Financial Manager Bonus and Incentive Rates in Spain

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

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.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Spain
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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 Spain earn 5% more than their private sector counterparts.

Private Sector
4,900 EUR
Public Sector+5%
5,120 EUR
Percentage increase and decrease are relative to the previous value

Financial Manager Salary Trend and Forecast in Spain

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 Spain Financial Manager
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Average Salary 2016
8,690 EUR
Average Salary 2017+4%
9,010 EUR
Average Salary 2018+2%
9,210 EUR
Average Salary 2019+3%
9,520 EUR
Percentage increase and decrease are relative to the previous value

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.

Financial Manager Average Hourly Wage in Spain

56 EUR per hour

The average hourly wage (pay per hour) in Spain is 56 EUR. This means that the average Financial Manager in Spain earns approximately 56 EUR 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 Spain
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner3,470 EUR-64%
Account Executive4,700 EUR-52%
Accountant3,780 EUR-61%
Accounting Assistant3,670 EUR-62%
Accounting Associate3,720 EUR-62%
Accounting Clerk2,760 EUR-72%
Accounting Coordinator3,160 EUR-67%
Accounting Manager6,370 EUR-34%
Accounting Supervisor5,050 EUR-48%
Accounting Technician3,280 EUR-66%
Accounts Executive4,660 EUR-52%
Accounts Payable and Receivable Specialist4,000 EUR-59%
Accounts Payable Clerk2,720 EUR-72%
Accounts Payable Manager5,140 EUR-47%
Accounts Receivable Clerk2,910 EUR-70%
Accounts Receivable Manager5,470 EUR-44%
Assistant Accounting Manager4,360 EUR-55%
Assistant Auditor4,020 EUR-59%
Audit Supervisor6,550 EUR-32%
Auditing Clerk3,490 EUR-64%
Auditing Manager6,930 EUR-29%
Billing Coordinator4,240 EUR-56%
Billing Specialist3,940 EUR-59%
Billing Supervisor4,950 EUR-49%
Bookkeeper2,910 EUR-70%
Bookkeeping Specialist3,700 EUR-62%
Budget Analyst4,310 EUR-56%
Budget Manager6,150 EUR-37%
Business Support Analyst4,820 EUR-50%
Capital Markets Associate5,560 EUR-43%
Cash Flow Analyst5,250 EUR-46%
Cash Management Officer4,980 EUR-49%
Cashbook Clerk3,240 EUR-67%
Chartered Accountant4,620 EUR-52%
Collections Clerk2,920 EUR-70%
Collections Specialist3,690 EUR-62%
Corporate Treasurer9,110 EUR-6%
Cost Accountant4,150 EUR-57%
Cost Accounting Manager5,700 EUR-41%
Cost Analyst5,410 EUR-44%
Credit and Collection Manager5,960 EUR-39%
Credit and Collection Staff2,960 EUR-69%
Credit and Loans Officer3,220 EUR-67%
Credit Controller5,140 EUR-47%
Debt Adviser6,060 EUR-38%
Debt Collector4,390 EUR-55%
Debtors Clerk3,970 EUR-59%
Deputy CFO8,810 EUR-9%
Derivative Trader7,290 EUR-25%
Escrow Assistant4,020 EUR-59%
External Auditor5,220 EUR-46%
Finance Associate4,130 EUR-57%
Finance Executive8,150 EUR-16%
Finance Licensing Clerk3,300 EUR-66%
Finance Licensing Manager5,080 EUR-48%
Finance Licensing Specialist4,090 EUR-58%
Finance Officer5,660 EUR-42%
Finance President9,680 EUR-0%
Finance Relationship Manager6,940 EUR-28%
Finance Release Analyst4,840 EUR-50%
Finance Team Leader 5,740 EUR-41%
Financial Actuary5,340 EUR-45%
Financial Administrator4,300 EUR-56%
Financial Analyst5,310 EUR-45%
Financial Applications Specialist3,540 EUR-64%
Financial Assistant3,260 EUR-66%
Financial Associate3,890 EUR-60%
Financial Claims Analyst5,010 EUR-48%
Financial Claims Manager5,640 EUR-42%
Financial Commercial Analyst4,720 EUR-51%
Financial Compliance Analyst5,140 EUR-47%
Financial Consultant4,990 EUR-49%
Financial Controller4,800 EUR-51%
Financial Coordinator4,480 EUR-54%
Financial Customer Service Manager5,790 EUR-40%
Financial Dealer and Broker4,580 EUR-53%
Financial Encoder3,000 EUR-69%
Financial Manager9,700 EUR+0%
Financial Operations Manager6,890 EUR-29%
Financial Policy Analyst5,110 EUR-47%
Financial Project Manager5,140 EUR-47%
Financial Quantitative Analyst5,570 EUR-43%
Financial Reporting Consultant4,980 EUR-49%
Financial Reporting Manager6,130 EUR-37%
Financial Services Sales Agent4,700 EUR-52%
Fixed Assets Administrator4,030 EUR-58%
Forensic Accountant4,070 EUR-58%
Fraud Detection Supervisor4,610 EUR-52%
Fraud Prevention Manager6,870 EUR-29%
Fund Accountant3,710 EUR-62%
Grants Coordinator3,540 EUR-64%
Internal Auditor5,290 EUR-45%
Internal Control Adviser5,120 EUR-47%
Internal Control Officer4,390 EUR-55%
Inventory Accountant7,720 EUR-20%
Investment Analyst6,290 EUR-35%
Investment Fund Manager7,110 EUR-27%
Investment Underwriter3,420 EUR-65%
Investor4,870 EUR-50%
Investor Relations Manager6,380 EUR-34%
KYC Team Leader6,370 EUR-34%
Management Economist5,720 EUR-41%
Paymaster4,160 EUR-57%
Payroll Clerk3,160 EUR-67%
Payroll Manager5,140 EUR-47%
Pensions Administrator4,100 EUR-58%
Pricing Analyst5,550 EUR-43%
Private Equity Analyst5,830 EUR-40%
Proposal Development Coordinator4,040 EUR-58%
Receivables Accountant3,480 EUR-64%
Regulatory Accountant4,060 EUR-58%
Retirement Plan Analyst5,010 EUR-48%
Revenue Management Specialist4,280 EUR-56%
Revenue Recognition Analyst6,500 EUR-33%
Risk Management Director7,930 EUR-18%
Risk Management Supervisor6,200 EUR-36%
Tax Accountant3,810 EUR-61%
Tax Advisor5,180 EUR-47%
Tax Associate4,060 EUR-58%
Tax Manager7,370 EUR-24%
Teller2,590 EUR-73%
Treasury Accountant4,010 EUR-59%
Treasury Analyst5,230 EUR-46%
Underwriter3,330 EUR-66%
Underwriting Assistant3,090 EUR-68%
Vice President of Finance6,900 EUR-29%

Salary Comparison By City

CityAverage Salary
Barcelona11,100 EUR
Bilbao9,020 EUR
Las Palmas9,150 EUR
Madrid11,200 EUR
Malaga9,530 EUR
Murcia9,410 EUR
Palma de Mallorca9,280 EUR
Sevilla10,800 EUR
Valencia10,900 EUR
Zaragoza10,700 EUR
5232 - 11

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