A person working as a Financial Analyst in Bulgaria typically earns around 4,890 BGN per month. Salaries range from 2,540 BGN (lowest) to 7,480 BGN (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Analyst salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Analyst salaries in Bulgaria range from 2,540 BGN per month (minimum salary) to 7,480 BGN per month (maximum salary).
The median salary is 4,700 BGN per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 4,700 BGN while the other half are earning more than 4,700 BGN. 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 Analyst(s) are earning less than 3,260 BGN while 75% of them are earning more than 3,260 BGN. Also from the diagram, 75% of Financial Analyst(s) are earning less than 5,850 BGN while 25% are earning more than 5,850 BGN.
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 Analyst salaries by experience level and this is what we found.
A Financial Analyst with less than two years of experience makes approximately 2,890 BGN per month.
While someone with an experience level between two and five years is expected to earn 3,880 BGN per month, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 5,040 BGN per month, 30% more than someone with two to five years of experience.
Additionally, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 6,100 BGN per month, 21% 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 6,670 BGN 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 7,010 BGN per month, 5% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+30%|
|10 - 15 Years||+21%|
|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 Analyst salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Financial Analyst is 3,480 BGN per month.
While someone with a Certificate or Diploma gets a salary of 3,980 BGN per month, 14% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 5,610 BGN per month, 41% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 6,790 BGN per month, 21% more than someone with Bachelor's Degree.
|Certificate or Diploma||+14%|
A Master's degree program or any post-graduate program in Bulgaria costs anywhere from 24,100 Bulgarian Lev(s) to 72,200 Bulgarian Lev(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 Analyst employees in Bulgaria earn 8% more than their female counterparts.
Financial Analyst(s) in Bulgaria are likely to observe a salary increase of approximately 10% every 20 months. The national average annual increment for all professions combined is 7% granted to employees every 20 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 Bulgaria 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 Analyst is considered to be a moderate 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.
50% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 50% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% 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 Analyst employees in Bulgaria earn 9% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+2%|
|Average Salary 2019||+3%|
Financial Analyst salaries in Bulgaria 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 Analyst is 5% 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||2,970 BGN||-39%|
|Account Executive||4,400 BGN||-10%|
|Accounting Assistant||3,180 BGN||-35%|
|Accounting Associate||3,280 BGN||-33%|
|Accounting Clerk||2,400 BGN||-51%|
|Accounting Coordinator||2,660 BGN||-46%|
|Accounting Manager||6,210 BGN||+27%|
|Accounting Supervisor||4,400 BGN||-10%|
|Accounting Technician||2,850 BGN||-42%|
|Accounts Executive||3,980 BGN||-19%|
|Accounts Payable and Receivable Specialist||3,640 BGN||-26%|
|Accounts Payable Clerk||2,510 BGN||-49%|
|Accounts Payable Manager||5,240 BGN||+7%|
|Accounts Receivable Clerk||2,600 BGN||-47%|
|Accounts Receivable Manager||5,380 BGN||+10%|
|Assistant Accounting Manager||4,240 BGN||-13%|
|Assistant Auditor||3,420 BGN||-30%|
|Audit Supervisor||6,190 BGN||+27%|
|Auditing Clerk||3,130 BGN||-36%|
|Auditing Manager||6,700 BGN||+37%|
|Billing Coordinator||3,870 BGN||-21%|
|Billing Specialist||3,620 BGN||-26%|
|Billing Supervisor||4,620 BGN||-6%|
|Bookkeeping Specialist||3,260 BGN||-33%|
|Budget Analyst||3,820 BGN||-22%|
|Budget Manager||5,780 BGN||+18%|
|Business Support Analyst||4,180 BGN||-15%|
|Capital Markets Associate||4,980 BGN||+2%|
|Cash Flow Analyst||5,020 BGN||+3%|
|Cash Management Officer||4,550 BGN||-7%|
|Cashbook Clerk||3,120 BGN||-36%|
|Chartered Accountant||4,330 BGN||-11%|
|Collections Clerk||2,430 BGN||-50%|
|Collections Specialist||3,210 BGN||-34%|
|Corporate Treasurer||8,490 BGN||+74%|
|Cost Accountant||3,800 BGN||-22%|
|Cost Accounting Manager||5,320 BGN||+9%|
|Cost Analyst||4,690 BGN||-4%|
|Credit and Collection Manager||5,590 BGN||+14%|
|Credit and Collection Staff||2,660 BGN||-46%|
|Credit and Loans Officer||2,720 BGN||-44%|
|Credit Controller||4,710 BGN||-4%|
|Debt Adviser||6,180 BGN||+26%|
|Debt Collector||4,070 BGN||-17%|
|Debtors Clerk||3,480 BGN||-29%|
|Deputy CFO||8,110 BGN||+66%|
|Derivative Trader||6,510 BGN||+33%|
|Escrow Assistant||3,740 BGN||-24%|
|External Auditor||5,090 BGN||+4%|
|Finance Associate||3,790 BGN||-23%|
|Finance Executive||8,180 BGN||+67%|
|Finance Licensing Clerk||3,120 BGN||-36%|
|Finance Licensing Manager||4,670 BGN||-5%|
|Finance Licensing Specialist||3,800 BGN||-22%|
|Finance Officer||5,250 BGN||+7%|
|Finance President||9,240 BGN||+89%|
|Finance Relationship Manager||6,770 BGN||+38%|
|Finance Release Analyst||4,650 BGN||-5%|
|Finance Team Leader||5,150 BGN||+5%|
|Financial Actuary||4,570 BGN||-7%|
|Financial Administrator||4,060 BGN||-17%|
|Financial Analyst||4,890 BGN||-0%|
|Financial Applications Specialist||3,400 BGN||-30%|
|Financial Assistant||2,890 BGN||-41%|
|Financial Associate||3,560 BGN||-27%|
|Financial Claims Analyst||4,400 BGN||-10%|
|Financial Claims Manager||5,160 BGN||+5%|
|Financial Commercial Analyst||4,090 BGN||-16%|
|Financial Compliance Analyst||4,780 BGN||-2%|
|Financial Consultant||4,700 BGN||-4%|
|Financial Controller||4,570 BGN||-7%|
|Financial Coordinator||4,230 BGN||-14%|
|Financial Customer Service Manager||5,560 BGN||+14%|
|Financial Dealer and Broker||4,470 BGN||-9%|
|Financial Encoder||2,750 BGN||-44%|
|Financial Manager||9,260 BGN||+89%|
|Financial Operations Manager||6,820 BGN||+39%|
|Financial Policy Analyst||4,600 BGN||-6%|
|Financial Project Manager||4,760 BGN||-3%|
|Financial Quantitative Analyst||5,410 BGN||+11%|
|Financial Reporting Consultant||4,810 BGN||-2%|
|Financial Reporting Manager||5,590 BGN||+14%|
|Financial Services Sales Agent||4,330 BGN||-11%|
|Fixed Assets Administrator||3,830 BGN||-22%|
|Forensic Accountant||3,820 BGN||-22%|
|Fraud Detection Supervisor||4,480 BGN||-8%|
|Fraud Prevention Manager||7,060 BGN||+44%|
|Fund Accountant||3,390 BGN||-31%|
|Grants Coordinator||3,090 BGN||-37%|
|Internal Auditor||4,830 BGN||-1%|
|Internal Control Adviser||5,020 BGN||+3%|
|Internal Control Officer||4,370 BGN||-11%|
|Inventory Accountant||7,290 BGN||+49%|
|Investment Analyst||6,370 BGN||+30%|
|Investment Fund Manager||6,410 BGN||+31%|
|Investment Underwriter||2,970 BGN||-39%|
|Investor Relations Manager||6,020 BGN||+23%|
|KYC Team Leader||5,820 BGN||+19%|
|Management Economist||5,360 BGN||+10%|
|Payroll Clerk||2,740 BGN||-44%|
|Payroll Manager||4,820 BGN||-1%|
|Pensions Administrator||3,730 BGN||-24%|
|Pricing Analyst||5,240 BGN||+7%|
|Private Equity Analyst||5,400 BGN||+10%|
|Proposal Development Coordinator||3,670 BGN||-25%|
|Receivables Accountant||3,310 BGN||-32%|
|Regulatory Accountant||3,650 BGN||-25%|
|Retirement Plan Analyst||4,900 BGN||+0%|
|Revenue Management Specialist||4,250 BGN||-13%|
|Revenue Recognition Analyst||6,070 BGN||+24%|
|Risk Management Director||7,270 BGN||+49%|
|Risk Management Supervisor||5,770 BGN||+18%|
|Tax Accountant||3,470 BGN||-29%|
|Tax Advisor||4,890 BGN||-0%|
|Tax Associate||3,830 BGN||-22%|
|Tax Manager||7,140 BGN||+46%|
|Treasury Accountant||3,660 BGN||-25%|
|Treasury Analyst||5,130 BGN||+5%|
|Underwriting Assistant||2,520 BGN||-48%|
|Vice President of Finance||6,900 BGN||+41%|
|Stara Zagora||4,710 BGN|