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Accounting and Finance Average Salaries in Riyadh 2024

How much money does a person working in Accounting and Finance make in Riyadh?


Average Monthly Salary
18,300 SAR
( 220,000 SAR yearly)

LOW
7,350
SAR
AVERAGE
18,300
SAR
HIGH
36,500
SAR
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 in Accounting and Finance in Riyadh typically earns around 18,300 SAR. Salaries range from 7,350 SAR (lowest average) to 36,500 SAR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Riyadh exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner8,730 SAR
Account Executive15,800 SAR
Accountant11,500 SAR
Accounting Analyst15,200 SAR
Accounting Assistant9,460 SAR
Accounting Associate8,480 SAR
Accounting Clerk7,490 SAR
Accounting Coordinator10,500 SAR
Accounting Head25,000 SAR
Accounting Manager26,300 SAR
Accounting Officer8,730 SAR
Accounting Specialist16,800 SAR
Accounting Supervisor16,200 SAR
Accounting Technician8,230 SAR
Accounting Unit Controller19,700 SAR
Accounts Executive15,800 SAR
Accounts Officer9,230 SAR
Accounts Payable and Receivable Specialist12,000 SAR
Accounts Payable Assistant9,480 SAR
Accounts Payable Associate11,300 SAR
Accounts Payable Clerk8,730 SAR
Accounts Payable Manager24,400 SAR
Accounts Receivable Administrator18,100 SAR
Accounts Receivable Clerk8,730 SAR
Accounts Receivable Financial Analyst17,300 SAR
Accounts Receivable Manager24,000 SAR
Accounts Receivable Team Leader17,200 SAR
Algorithmic Trading Specialist20,700 SAR
Assistant Accountant9,460 SAR
Assistant Accounting Manager22,000 SAR
Assistant Auditor11,700 SAR
Assistant Corporate Controller16,800 SAR
Assistant Finance Manager25,700 SAR
Assistant Financial Controller16,000 SAR
Audit Director28,400 SAR
Audit Supervisor21,500 SAR
Auditing Clerk9,230 SAR
Auditing Manager24,500 SAR
Billing Clerk9,460 SAR
Billing Coordinator10,700 SAR
Billing Specialist13,100 SAR
Billing Supervisor18,900 SAR
Bookkeeper7,730 SAR
Bookkeeping Specialist11,200 SAR
Budget Analyst21,300 SAR
Budget Manager24,200 SAR
Business Support Analyst13,200 SAR
Capital Markets Associate17,700 SAR
Cash Flow Analyst18,600 SAR
Cash Management Manager23,200 SAR
Cash Management Officer14,200 SAR
Cashbook Clerk7,980 SAR
Chartered Accountant15,000 SAR
Chief Accountant17,500 SAR
Chief Financial Technology Officer24,500 SAR
Collections Clerk7,240 SAR
Collections Representative10,800 SAR
Collections Specialist12,600 SAR
Corporate Controller19,700 SAR
Corporate Treasurer23,600 SAR
Cost Accountant11,900 SAR
Cost Accounting Manager23,300 SAR
Cost Accounting Supervisor20,000 SAR
Cost Analyst19,700 SAR
Credit and Collection Manager23,500 SAR
Credit and Collection Staff8,980 SAR
Credit and Loans Officer8,480 SAR
Credit Controller17,100 SAR
Credit Manager25,700 SAR
Debt Adviser19,500 SAR
Debt Collector9,980 SAR
Debtors Clerk8,540 SAR
Debtors Controller8,730 SAR
Deputy CFO32,200 SAR
Deputy Head of Finance32,200 SAR
Derivative Trader20,200 SAR
Director of Finance36,500 SAR
E-commerce Accountant12,200 SAR
Economist28,900 SAR
Equity Analyst20,800 SAR
Escrow Assistant10,500 SAR
Executive Accountant13,200 SAR
External Auditor17,300 SAR
Finance Administrator13,700 SAR
Finance Analyst22,300 SAR
Finance Associate10,800 SAR
Finance Data Analyst19,000 SAR
Finance Director34,700 SAR
Finance Executive26,300 SAR
Finance Licensing Clerk8,480 SAR
Finance Licensing Manager23,600 SAR
Finance Licensing Specialist12,700 SAR
Finance Manager34,700 SAR
Finance Officer11,800 SAR
Finance President36,500 SAR
Finance Relationship Manager28,600 SAR
Finance Release Analyst13,500 SAR
Finance Specialist19,500 SAR
Finance Team Leader 26,200 SAR
Financial Accountant11,700 SAR
Financial Actuary18,000 SAR
Financial Administrator20,500 SAR
Financial Advisor22,500 SAR
Financial Analyst22,300 SAR
Financial Applications Specialist15,500 SAR
Financial Assistant9,480 SAR
Financial Associate9,980 SAR
Financial Associate11,200 SAR
Financial Claims Analyst16,700 SAR
Financial Claims Manager21,000 SAR
Financial Claims Supervisor20,500 SAR
Financial Clerk9,460 SAR
Financial Commercial Analyst17,000 SAR
Financial Compliance Analyst19,000 SAR
Financial Compliance Officer19,600 SAR
Financial Consultant15,700 SAR
Financial Controller19,700 SAR
Financial Controller19,700 SAR
Financial Coordinator11,300 SAR
Financial Customer Service Manager21,500 SAR
Financial Data Scientist21,800 SAR
Financial Dealer and Broker12,700 SAR
Financial Director34,700 SAR
Financial Encoder9,980 SAR
Financial Manager34,700 SAR
Financial Manager32,900 SAR
Financial Modelling Analyst22,200 SAR
Financial Operations Manager29,900 SAR
Financial Policy Analyst19,200 SAR
Financial Project Manager24,200 SAR
Financial Quantitative Analyst20,200 SAR
Financial Reporting Consultant17,000 SAR
Financial Reporting Manager23,600 SAR
Financial Section Head22,500 SAR
Financial Services Manager29,900 SAR
Financial Services Sales Agent13,000 SAR
Financial Technology Consultant18,500 SAR
Financial Wellness Coach25,300 SAR
FinTech Analyst20,200 SAR
Fixed Assets Administrator12,200 SAR
Forensic Accountant14,400 SAR
Fraud Detection Supervisor15,200 SAR
Fraud Prevention Manager24,000 SAR
Fund Accountant11,800 SAR
Grants Coordinator8,730 SAR
Green Finance Analyst18,800 SAR
Group Financial Manager35,500 SAR
Internal Auditor15,700 SAR
Internal Control Adviser19,400 SAR
Internal Control Officer10,200 SAR
International Tax Director28,400 SAR
Inventory Accountant12,900 SAR
Investment Advisor31,400 SAR
Investment Analyst24,400 SAR
Investment Associate19,700 SAR
Investment Broker19,700 SAR
Investment Fund Manager27,600 SAR
Investment Operations Manager27,600 SAR
Investment Underwriter9,980 SAR
Investor16,000 SAR
Investor Relations Manager23,700 SAR
KYC Team Leader23,900 SAR
Loan Processor9,730 SAR
Management Accountant13,100 SAR
Management Economist27,400 SAR
Paymaster9,480 SAR
Payroll Administrator16,300 SAR
Payroll Benefits Coordinator13,700 SAR
Payroll Billing Manager21,500 SAR
Payroll Clerk10,200 SAR
Payroll Manager22,600 SAR
Payroll Officer10,800 SAR
Payroll Specialist12,200 SAR
Payroll Supervisor15,000 SAR
Pensions Administrator12,500 SAR
Personal Financial Advisor17,500 SAR
Pricing Analyst20,500 SAR
Private Equity Analyst21,900 SAR
Project Accountant13,100 SAR
Proposal Development Coordinator10,500 SAR
Quantitative Trader16,800 SAR
Receivables Accountant10,900 SAR
Regulatory Accountant13,500 SAR
Retirement Plan Analyst19,700 SAR
Revenue Management Specialist19,500 SAR
Revenue Recognition Analyst22,800 SAR
Risk Management Director28,200 SAR
Risk Management Supervisor24,400 SAR
Staff Accountant11,200 SAR
Tax Accountant11,700 SAR
Tax Administrator13,400 SAR
Tax Advisor18,000 SAR
Tax Analyst18,900 SAR
Tax Associate9,980 SAR
Tax Consultant18,700 SAR
Tax Director28,600 SAR
Tax Examiner12,500 SAR
Tax Manager24,000 SAR
Tax Research Manager25,200 SAR
Teller6,990 SAR
Treasury Accountant12,900 SAR
Treasury Analyst20,500 SAR
Underwriter8,230 SAR
Underwriting Assistant8,140 SAR
Vice President of Finance33,900 SAR


Accounting and Finance Jobs Pay Scale and Salaries in Riyadh

Median and salary distribution Riyadh Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
19,000 SAR or more
10% of people earn
16,100 to 19,000 SAR
20% of people earn
9,690 SAR or less
65% of people earn
9,690 to 16,100 SAR
Minimum Salary
7,350 SAR
Median
16,700 SAR
Maximum
36,500 SAR




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 in Accounting and Finance in Riyadh range from 7,350 SAR (starting average salary) to 36,500 SAR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 16,700 SAR, implying that half of the workforce in Riyadh earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Riyadh earn less than 13,100 SAR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 20,100 SAR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Riyadh. The analysis revealed that roughly 65% of all reported salaries fell within the range of 9,690 SAR to 16,100 SAR. Approximately 20% of salaries were below the 9,690 SAR mark, while 10% ranged from 16,100 SAR to 19,000 SAR. Only 5% of individuals earned a gross salary of 19,000 SAR or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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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.

Generally speaking, employees in Accounting and Finance in Riyadh having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
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.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Accounting and Finance in Riyadh, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


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 Saudi Arabia costs anywhere from 83,800 SAR to 251,000 SAR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / Riyadh

Salary comparison by gender Saudi Arabia Accounting and Finance 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? In the field of Accounting and Finance in Saudi Arabia, the average difference between the salary of male and female employees is 13%.

Male
18,600 SAR
Female-12%
16,400 SAR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Saudi Arabia for all Careers

Salary comparison by gender monthly Saudi Arabia
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Average Annual Salary Increment Percentage / Accounting and Finance / Riyadh

How much are annual salary increments in Riyadh for individuals working in Accounting and Finance? How often do employees get salary raises?

Professionals working in Accounting and Finance in Saudi Arabia are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.

Annual Salary Increment Rate Saudi Arabia Accounting and Finance
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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.

Saudi Arabia / All Professions

Annual Salary Increment Rate Saudi Arabia
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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 Saudi Arabia 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 / Accounting and Finance / Saudi Arabia

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Saudi Arabia Accounting and Finance
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100% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from % to % of their annual salary.

Received Bonus
%
No Bonus
100%

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.

Hourly Average Wage / Accounting and Finance / Riyadh


110 SAR per hour

The average hourly wage (pay per hour) in Accounting and Finance in Riyadh is 110 SAR.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 in Accounting and Finance in Riyadh is 42 SAR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Abha16,500 SAR
Dammam17,100 SAR
Jeddah18,000 SAR
Khubar16,800 SAR
Mecca17,700 SAR
Medina17,400 SAR
Riyadh18,300 SAR
Tabuk15,800 SAR
Taif16,100 SAR

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 Saudi Arabia is 7% on average across all career fields.

Private Sector
16,100 SAR
Public Sector+7%
17,300 SAR
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 in Accounting and Finance in Riyadh?

A good and competitive compensation would range anywhere between 16,700 SAR and 20,100 SAR. 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 jobs in Accounting and Finance in Riyadh ranges from 7,350 SAR to 13,100 SAR. 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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