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Chief Financial Officer Average Salary in Thailand 2020

How much money does a Chief Financial Officer make in Thailand?


Average Monthly Salary
203,000 THB
( 2,440,000 THB yearly)

LOW
95,600
THB
AVERAGE
203,000
THB
HIGH
321,000
THB

A person working as a Chief Financial Officer in Thailand typically earns around 203,000 THB per month. Salaries range from 95,600 THB (lowest) to 321,000 THB (highest).

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

Chief Financial Officer Salary Distribution in Thailand

Median and salary distribution monthly Thailand Chief Financial Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chief Financial Officer salaries in Thailand range from 95,600 THB per month (minimum salary) to 321,000 THB per month (maximum salary).

  • Median Salary

    The median salary is 216,000 THB per month, which means that half (50%) of people working as Chief Financial Officer(s) are earning less than 216,000 THB while the other half are earning more than 216,000 THB. 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 Chief Financial Officer(s) are earning less than 140,000 THB while 75% of them are earning more than 140,000 THB. Also from the diagram, 75% of Chief Financial Officer(s) are earning less than 285,000 THB while 25% are earning more than 285,000 THB.


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

Chief Financial Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Thailand Chief Financial Officer
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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 Chief Financial Officer salaries by experience level and this is what we found.

A Chief Financial Officer with less than two years of experience makes approximately 110,000 THB per month.

While someone with an experience level between two and five years is expected to earn 152,000 THB per month, 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 216,000 THB per month, 42% 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, Chief Financial Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 264,000 THB per month, 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 278,000 THB per month, 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 303,000 THB per month, 9% more than people with fifteen to twenty years of experience.


Chief Financial Officer average salary change by experience in Thailand

0 - 2 Years
110,000 THB
2 - 5 Years+38%
152,000 THB
5 - 10 Years+42%
216,000 THB
10 - 15 Years+22%
264,000 THB
15 - 20 Years+6%
278,000 THB
20+ Years+9%
303,000 THB
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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Chief Financial Officer Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chief Financial Officer(s) who have the same experience but different education levels.

Salary comparison by education level monthly Thailand Chief Financial Officer
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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 Chief Financial Officer salaries by education level in order to make a comparison.

When the education level is High School, the average salary of a Chief Financial Officer is 136,000 THB per month.

While someone with a Certificate or Diploma gets a salary of 159,000 THB per month, 17% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 231,000 THB per month, 45% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 303,000 THB per month, 31% more than someone with Bachelor's Degree.


Chief Financial Officer average salary difference by education level in Thailand

High School
136,000 THB
Certificate or Diploma+17%
159,000 THB
Bachelor's Degree+45%
231,000 THB
Master's Degree+31%
303,000 THB
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 Thailand costs anywhere from 488,000 Baht(s) to 1,470,000 Baht(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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Chief Financial Officer Salary Comparison By Gender

Salary comparison by gender monthly Thailand Chief Financial Officer
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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 Chief Financial Officer employees in Thailand earn 16% more than their female counterparts.

Female
190,000 THB
Male+16%
221,000 THB
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Thailand for all Careers

Salary comparison by gender monthly Thailand
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Chief Financial Officer Average Annual Salary Increment Percentage in Thailand

How much are annual salary increments in Thailand for Chief Financial Officer(s)? How often do employees get salary raises?

Chief Financial Officer

Chief Financial Officer(s) in Thailand are likely to observe a salary increase of approximately 14% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Annual Salary Increment Rate Thailand Chief Financial Officer
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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.

Thailand / All Professions

Annual Salary Increment Rate Thailand
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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 Thailand is 6%.

Annual Increment Rate By Industry 2019

Banking
8%
Energy
7%
Information Technology
6%
Healthcare
5%
Travel
4%
Construction
3%
Education
2%

Listed above are the average annual increase rates for each industry in Thailand 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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Chief Financial Officer Bonus and Incentive Rates in Thailand

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Thailand Chief Financial Officer
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A Chief Financial Officer 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.

14% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 86% 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
86%
No Bonus
14%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Thailand
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Where can you get paid more, working for a private company or for the government? Public sector Chief Financial Officer employees in Thailand earn 7% more than their private sector counterparts.

Private Sector
94,700 THB
Public Sector+7%
101,000 THB
Percentage increase and decrease are relative to the previous value

Chief Financial Officer Salary Trend and Forecast in Thailand

How are Chief Financial Officer salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Thailand Chief Financial Officer
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Average Salary 2016
179,000 THB
Average Salary 2017+4%
186,000 THB
Average Salary 2018+3%
192,000 THB
Average Salary 2019+3%
198,000 THB
Percentage increase and decrease are relative to the previous value

Chief Financial Officer salaries in Thailand 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.

Chief Financial Officer Average Hourly Wage in Thailand


1,170 THB per hour

The average hourly wage (pay per hour) in Thailand is 1,170 THB. This means that the average Chief Financial Officer in Thailand earns approximately 1,170 THB 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.

Chief Financial Officer VS Other Jobs

Salary Comparison Between Chief Financial Officer and Executive and Management monthly Thailand
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The average salary for Chief Financial Officer is 53% more than that of Executive and Management. Also, Executive and Management salaries are 36% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator92,000 THB-55%
Administration Manager117,000 THB-42%
Area Manager102,000 THB-50%
Asset Protection Associate125,000 THB-39%
Assistant Director117,000 THB-42%
Assistant Manager123,000 THB-40%
Assistant Operations Manager136,000 THB-33%
Assistant Project Manager115,000 THB-43%
Assistant Section Head98,100 THB-52%
Assistant to CEO103,000 THB-49%
Assistant Vice President129,000 THB-37%
Associate Director115,000 THB-43%
Bid Manager132,000 THB-35%
Branch Manager124,000 THB-39%
Business Development Manager140,000 THB-31%
Business Operations Associate114,000 THB-44%
Business Operations Lead120,000 THB-41%
Campaign Manager129,000 THB-37%
Chairman of The Board228,000 THB+12%
Chairman Office Manager137,000 THB-33%
Chief Corporate Officer180,000 THB-12%
Chief Executive Officer221,000 THB+9%
Chief Financial Officer203,000 THB-0%
Chief of Staff108,000 THB-47%
Chief Operating Officer158,000 THB-22%
Chief Risk Officer140,000 THB-31%
Client Services Manager151,000 THB-26%
Commercial Project Manager121,000 THB-41%
Commodity Broker89,700 THB-56%
Corporate Affairs Executive131,000 THB-36%
Corporate Compliance Director148,000 THB-27%
Corporate Director158,000 THB-22%
Corporate Officer108,000 THB-47%
Corporate Partnerships Officer108,000 THB-47%
Country Manager182,000 THB-11%
Deputy Director165,000 THB-19%
Director170,000 THB-16%
Director of Accreditation142,000 THB-30%
Director of Catering Services130,000 THB-36%
Director of Client Services140,000 THB-31%
Director of Facilities Management121,000 THB-41%
Director of Operations150,000 THB-26%
Director of Process Simplification119,000 THB-41%
Director of Project Management154,000 THB-24%
Director of Revenue Management131,000 THB-36%
Director of Training and Development146,000 THB-28%
Distribution Manager159,000 THB-22%
Division Manager132,000 THB-35%
Duty Manager131,000 THB-36%
Engagement Manager151,000 THB-26%
Executive Director209,000 THB+3%
Executive Manager174,000 THB-14%
Franchise Manager186,000 THB-9%
General Manager168,000 THB-17%
Global Master Data Manager159,000 THB-22%
Head of Middle Office134,000 THB-34%
Head of Projects148,000 THB-27%
Head of Sustainability119,000 THB-41%
Housing Manager118,000 THB-42%
HSE Manager118,000 THB-42%
Key Account Manager128,000 THB-37%
Knowledge Manager140,000 THB-31%
Location Manager142,000 THB-30%
Logistics Manager114,000 THB-44%
Management Consultant116,000 THB-43%
Management Executive163,000 THB-20%
Manager155,000 THB-24%
Managing Director178,000 THB-12%
MIS Executive150,000 THB-26%
Ocean Services Manager157,000 THB-23%
Operations Assistant109,000 THB-46%
Operations Director162,000 THB-20%
Operations Executive166,000 THB-18%
Operations Manager159,000 THB-22%
Operations Supervisor134,000 THB-34%
Policy Administration Executive124,000 THB-39%
Private Sector Executive137,000 THB-33%
Product Development Manager153,000 THB-25%
Product Executive133,000 THB-35%
Production Executive154,000 THB-24%
Production Manager144,000 THB-29%
Production Supervisor133,000 THB-35%
Program Manager153,000 THB-25%
Programme Coordinator106,000 THB-48%
Project Control Manager160,000 THB-21%
Project Coordinator93,500 THB-54%
Project Management Officer109,000 THB-46%
Project Manager117,000 THB-42%
Project Portfolio Manager125,000 THB-39%
Quality Manager115,000 THB-43%
R/D Director133,000 THB-35%
Regional Director199,000 THB-2%
Regional Manager151,000 THB-26%
Relationship Manager146,000 THB-28%
Retail District Manager104,000 THB-49%
Revenue Manager119,000 THB-41%
Risk and Capital Manager166,000 THB-18%
Risk Officer113,000 THB-44%
Safety Manager110,000 THB-46%
Section Head109,000 THB-46%
Service Manager118,000 THB-42%
Shift Supervisor90,300 THB-56%
Solutions Manager103,000 THB-49%
Supervisor92,100 THB-55%
Supply Chain Manager153,000 THB-25%
Surveyor108,000 THB-47%
Technical Manager137,000 THB-33%
Territory Manager152,000 THB-25%
Validation Manager132,000 THB-35%
Vice President183,000 THB-10%
Zone Manager160,000 THB-21%

Salary Comparison By City

CityAverage Salary
Bangkok (Krung Thep)231,000 THB
Chiang Mai219,000 THB
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