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Financial Manager Average Salary in Spain 2024

How much money does a person working as Financial Manager make in Spain?


Average Monthly Salary
5,240 EUR
( 62,900 EUR yearly)

LOW
2,670
EUR
AVERAGE
5,240
EUR
HIGH
8,070
EUR
All salary figures displayed here are per month except when noted otherwise.
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.

A person working as Financial Manager in Spain typically earns around 5,240 EUR. Salaries range from 2,670 EUR (lowest) to 8,070 EUR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Financial Manager salaries in Spain vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Financial Manager Pay Scale and Salaries in Spain

Median and salary distribution Spain Financial Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
4,780 EUR or more
10% of people earn
4,250 to 4,780 EUR
20% of people earn
3,070 EUR or less
65% of people earn
3,070 to 4,250 EUR
Minimum Salary
2,670 EUR
Median
4,810 EUR
Maximum
8,070 EUR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Financial Manager in Spain range from 2,670 EUR (starting salary) to 8,070 EUR (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.

  • Median Salary

    With a median salary of 4,810 EUR, half of the professionals who work as Financial Manager in Spain 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.

  • Percentiles and Salary Scale

    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 Financial Manager in Spain earn less than 3,970 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 5,470 EUR while 25% earn more.

  • Pay Scale Structure

    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 Financial Manager in Spain compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 3,070 EUR to 4,250 EUR. About 20% of salaries are below the 3,070 EUR mark, while 10% fall within the range of 4,250 EUR to 4,780 EUR. Only 5% of individuals have salaries exceeding 4,780 EUR.

Salary Comparison by Years of Experience / Financial Manager / Spain

How do experience and age affect pay?

0 - 2 Years
3,000 EUR
2 - 5 Years+31%
3,910 EUR
5 - 10 Years+40%
5,480 EUR
10 - 15 Years+20%
6,590 EUR
15 - 20 Years+9%
7,150 EUR
20+ Years+8%
7,720 EUR
Percentage increase and decrease are relative to the previous value
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 the wage. We broke down salaries by experience level for people working as Financial Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 3,000 EUR.

While someone with an experience level between two and five years is expected to earn 3,910 EUR, 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 5,480 EUR, 40% 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 6,590 EUR, 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 7,150 EUR, 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 7,720 EUR, 8% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Financial Manager / Spain

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Financial Manager.

Certificate or Diploma
3,430 EUR
Bachelor's Degree+50%
5,160 EUR
Master's Degree+48%
7,640 EUR
Percentage increase and decrease are relative to the previous value
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 salaries by education level for the position Financial Manager in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 3,430 EUR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 5,160 EUR, 50% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 7,640 EUR, 48% more than the previous level.



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 13,600 EUR to 40,900 EUR 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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Financial Manager / Spain

Salary comparison by gender Spain Financial Manager monthly
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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? For the people who work as Financial Manager in Spain, the average difference between the salary of male and female employees is 6%.

Male
5,380 EUR
Female-5%
5,100 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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Average Annual Salary Increment Percentage / Financial Manager / Spain

How much are annual salary increments in Spain for individuals working as Financial Manager? How often do employees get salary raises?

Individuals working as Financial Manager 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 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.

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%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

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.



Bonus and Incentive Rates / Financial Manager / Spain

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Spain Financial Manager
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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
82%
No Bonus
18%

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.

Average Hourly Wage / Financial Manager / Spain


30 EUR per hour

The average hourly wage (pay per hour) for individuals working as Financial Manager in Spain is 30 EUR.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Financial Manager in Spain is 15 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner1,660 EUR-68%
Account Executive2,440 EUR-53%
Accountant2,100 EUR-60%
Accounting Analyst2,420 EUR-54%
Accounting Assistant1,700 EUR-68%
Accounting Associate1,590 EUR-70%
Accounting Clerk1,320 EUR-75%
Accounting Coordinator1,940 EUR-63%
Accounting Head3,750 EUR-28%
Accounting Manager3,940 EUR-25%
Accounting Officer1,540 EUR-71%
Accounting Specialist2,660 EUR-49%
Accounting Supervisor2,860 EUR-45%
Accounting Technician1,490 EUR-72%
Accounting Unit Controller3,230 EUR-38%
Accounts Executive2,680 EUR-49%
Accounts Officer1,630 EUR-69%
Accounts Payable and Receivable Specialist2,010 EUR-62%
Accounts Payable Assistant1,740 EUR-67%
Accounts Payable Associate1,960 EUR-63%
Accounts Payable Clerk1,510 EUR-71%
Accounts Payable Manager3,700 EUR-29%
Accounts Receivable Administrator2,880 EUR-45%
Accounts Receivable Clerk1,520 EUR-71%
Accounts Receivable Financial Analyst2,690 EUR-49%
Accounts Receivable Manager3,670 EUR-30%
Accounts Receivable Team Leader2,950 EUR-44%
Algorithmic Trading Specialist3,330 EUR-36%
Assistant Accountant1,640 EUR-69%
Assistant Accounting Manager3,580 EUR-32%
Assistant Auditor2,100 EUR-60%
Assistant Corporate Controller2,740 EUR-48%
Assistant Finance Manager4,140 EUR-21%
Assistant Financial Controller2,730 EUR-48%
Audit Director4,570 EUR-13%
Audit Supervisor3,520 EUR-33%
Auditing Clerk1,630 EUR-69%
Auditing Manager4,030 EUR-23%
Billing Clerk1,600 EUR-69%
Billing Coordinator1,880 EUR-64%
Billing Specialist2,090 EUR-60%
Billing Supervisor3,040 EUR-42%
Bookkeeper1,430 EUR-73%
Bookkeeping Specialist1,950 EUR-63%
Budget Analyst3,420 EUR-35%
Budget Manager4,060 EUR-23%
Business Support Analyst2,350 EUR-55%
Capital Markets Associate3,110 EUR-41%
Cash Flow Analyst3,040 EUR-42%
Cash Management Manager3,930 EUR-25%
Cash Management Officer2,370 EUR-55%
Cashbook Clerk1,400 EUR-73%
Chartered Accountant2,620 EUR-50%
Chief Accountant2,940 EUR-44%
Chief Financial Technology Officer4,140 EUR-21%
Collections Clerk1,380 EUR-74%
Collections Representative1,820 EUR-65%
Collections Specialist2,170 EUR-59%
Corporate Controller3,010 EUR-43%
Corporate Treasurer3,880 EUR-26%
Cost Accountant2,010 EUR-62%
Cost Accounting Manager4,040 EUR-23%
Cost Accounting Supervisor3,240 EUR-38%
Cost Analyst3,290 EUR-37%
Credit and Collection Manager3,940 EUR-25%
Credit and Collection Staff1,560 EUR-70%
Credit and Loans Officer1,610 EUR-69%
Credit Controller2,870 EUR-45%
Credit Manager4,260 EUR-19%
Debt Adviser3,170 EUR-39%
Debt Collector1,650 EUR-69%
Debtors Clerk1,530 EUR-71%
Debtors Controller1,540 EUR-71%
Deputy CFO5,360 EUR+2%
Deputy Head of Finance5,390 EUR+3%
Derivative Trader3,510 EUR-33%
Director of Finance5,720 EUR+9%
E-commerce Accountant2,070 EUR-60%
Economist4,450 EUR-15%
Equity Analyst3,480 EUR-34%
Escrow Assistant1,770 EUR-66%
Executive Accountant2,300 EUR-56%
External Auditor2,790 EUR-47%
Finance Administrator2,410 EUR-54%
Finance Analyst3,710 EUR-29%
Finance Associate1,860 EUR-64%
Finance Data Analyst3,230 EUR-38%
Finance Director5,810 EUR+11%
Finance Executive4,120 EUR-21%
Finance Licensing Clerk1,510 EUR-71%
Finance Licensing Manager3,670 EUR-30%
Finance Licensing Specialist2,170 EUR-59%
Finance Manager5,540 EUR+6%
Finance Officer1,930 EUR-63%
Finance President5,500 EUR+5%
Finance Relationship Manager4,460 EUR-15%
Finance Release Analyst2,340 EUR-55%
Finance Specialist3,370 EUR-36%
Finance Team Leader 4,530 EUR-14%
Financial Accountant2,000 EUR-62%
Financial Actuary3,170 EUR-39%
Financial Administrator3,150 EUR-40%
Financial Advisor3,690 EUR-30%
Financial Analyst3,510 EUR-33%
Financial Applications Specialist2,470 EUR-53%
Financial Assistant1,670 EUR-68%
Financial Associate2,050 EUR-61%
Financial Claims Analyst2,770 EUR-47%
Financial Claims Manager3,610 EUR-31%
Financial Claims Supervisor3,380 EUR-35%
Financial Clerk1,610 EUR-69%
Financial Commercial Analyst3,010 EUR-43%
Financial Compliance Analyst3,130 EUR-40%
Financial Compliance Officer3,180 EUR-39%
Financial Consultant2,740 EUR-48%
Financial Controller3,300 EUR-37%
Financial Coordinator1,910 EUR-64%
Financial Customer Service Manager3,420 EUR-35%
Financial Data Scientist3,710 EUR-29%
Financial Dealer and Broker2,180 EUR-58%
Financial Director5,440 EUR+4%
Financial Encoder1,730 EUR-67%
Financial Manager5,130 EUR-2%
Financial Modelling Analyst3,600 EUR-31%
Financial Operations Manager4,700 EUR-10%
Financial Policy Analyst3,070 EUR-41%
Financial Project Manager4,180 EUR-20%
Financial Quantitative Analyst3,370 EUR-36%
Financial Reporting Consultant2,830 EUR-46%
Financial Reporting Manager3,730 EUR-29%
Financial Section Head3,900 EUR-26%
Financial Services Manager4,800 EUR-8%
Financial Services Sales Agent2,250 EUR-57%
Financial Technology Consultant3,190 EUR-39%
Financial Wellness Coach4,110 EUR-22%
FinTech Analyst3,490 EUR-33%
Fixed Assets Administrator2,040 EUR-61%
Forensic Accountant2,350 EUR-55%
Fraud Detection Supervisor2,380 EUR-55%
Fraud Prevention Manager3,810 EUR-27%
Fund Accountant1,900 EUR-64%
Grants Coordinator1,630 EUR-69%
Green Finance Analyst2,970 EUR-43%
Group Financial Manager5,780 EUR+10%
Internal Auditor2,680 EUR-49%
Internal Control Adviser2,980 EUR-43%
Internal Control Officer1,740 EUR-67%
International Tax Director4,550 EUR-13%
Inventory Accountant2,090 EUR-60%
Investment Advisor4,970 EUR-5%
Investment Analyst3,740 EUR-29%
Investment Associate3,450 EUR-34%
Investment Broker3,210 EUR-39%
Investment Fund Manager4,530 EUR-14%
Investment Operations Manager4,220 EUR-19%
Investment Underwriter1,870 EUR-64%
Investor2,600 EUR-50%
Investor Relations Manager3,940 EUR-25%
KYC Team Leader3,960 EUR-24%
Loan Processor1,720 EUR-67%
Management Accountant2,260 EUR-57%
Management Economist4,530 EUR-14%
Paymaster1,780 EUR-66%
Payroll Administrator2,600 EUR-50%
Payroll Benefits Coordinator2,150 EUR-59%
Payroll Billing Manager3,430 EUR-35%
Payroll Clerk1,800 EUR-66%
Payroll Manager3,560 EUR-32%
Payroll Officer1,740 EUR-67%
Payroll Specialist2,050 EUR-61%
Payroll Supervisor2,550 EUR-51%
Pensions Administrator2,170 EUR-59%
Personal Financial Advisor2,950 EUR-44%
Pricing Analyst3,240 EUR-38%
Private Equity Analyst3,590 EUR-31%
Project Accountant2,280 EUR-56%
Proposal Development Coordinator1,860 EUR-64%
Quantitative Trader2,750 EUR-48%
Receivables Accountant1,870 EUR-64%
Regulatory Accountant2,210 EUR-58%
Retirement Plan Analyst3,010 EUR-43%
Revenue Management Specialist3,140 EUR-40%
Revenue Recognition Analyst3,620 EUR-31%
Risk Management Director4,680 EUR-11%
Risk Management Supervisor3,900 EUR-26%
Staff Accountant2,060 EUR-61%
Tax Accountant1,960 EUR-63%
Tax Administrator2,250 EUR-57%
Tax Advisor3,100 EUR-41%
Tax Analyst3,110 EUR-41%
Tax Associate1,790 EUR-66%
Tax Consultant3,240 EUR-38%
Tax Director4,630 EUR-12%
Tax Examiner2,260 EUR-57%
Tax Manager4,030 EUR-23%
Tax Research Manager4,040 EUR-23%
Teller1,330 EUR-75%
Treasury Accountant2,130 EUR-59%
Treasury Analyst3,160 EUR-40%
Underwriter1,560 EUR-70%
Underwriting Assistant1,490 EUR-72%
Vice President of Finance5,040 EUR-4%

Salary Comparison By City

CityAverage Salary
Barcelona5,980 EUR
Madrid6,050 EUR
Palma de Mallorca5,010 EUR

Government vs Private Sector Salary Comparison

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 Spain is 5% on average across all career fields.

Private Sector
2,660 EUR
Public Sector+5%
2,780 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Financial Manager in Spain?

A good and competitive compensation would range anywhere between 4,810 EUR and 5,470 EUR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

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.

Base / Basic Salary

The base salary for a careers like Financial Manager in Spain ranges from 2,670 EUR to 3,970 EUR. 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.


What is the difference between the median and the average salary?

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


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