A person working as a Financial Analyst in Colombia typically earns around 5,720,000 COP per month. Salaries range from 3,090,000 COP (lowest) to 8,630,000 COP (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 Colombia range from 3,090,000 COP per month (minimum salary) to 8,630,000 COP per month (maximum salary).
The median salary is 5,260,000 COP per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 5,260,000 COP while the other half are earning more than 5,260,000 COP. 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 3,760,000 COP while 75% of them are earning more than 3,760,000 COP. Also from the diagram, 75% of Financial Analyst(s) are earning less than 6,390,000 COP while 25% are earning more than 6,390,000 COP.
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 3,590,000 COP per month.
While someone with an experience level between two and five years is expected to earn 4,530,000 COP per month, 26% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 5,970,000 COP per month, 32% 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 7,030,000 COP per month, 18% 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 7,770,000 COP per month, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 8,270,000 COP per month, 6% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+26%|
|5 - 10 Years||+32%|
|10 - 15 Years||+18%|
|15 - 20 Years||+11%|
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 4,360,000 COP per month.
While someone with a Certificate or Diploma gets a salary of 4,920,000 COP per month, 13% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 6,470,000 COP per month, 32% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 8,020,000 COP per month, 24% more than someone with Bachelor's Degree.
|Certificate or Diploma||+13%|
A Master's degree program or any post-graduate program in Colombia costs anywhere from 23,500,000 Colombian Peso(s) to 70,400,000 Colombian Peso(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 Colombia earn 11% more than their female counterparts on average.
Financial Analyst(s) in Colombia are likely to observe a salary increase of approximately 10% every 19 months. The national average annual increment for all professions combined is 7% granted to employees every 19 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 Colombia 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.
51% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 49% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% 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 employees in Colombia earn 11% more than their private sector counterparts on average across all sectors.
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 20% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 2% more than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||2,340,000 COP||-59%|
|Account Executive||4,200,000 COP||-27%|
|Accounting Assistant||2,530,000 COP||-56%|
|Accounting Associate||2,310,000 COP||-60%|
|Accounting Clerk||2,000,000 COP||-65%|
|Accounting Coordinator||2,800,000 COP||-51%|
|Accounting Manager||6,980,000 COP||+22%|
|Accounting Supervisor||4,400,000 COP||-23%|
|Accounting Technician||2,340,000 COP||-59%|
|Accounts Executive||4,230,000 COP||-26%|
|Accounts Payable and Receivable Specialist||3,490,000 COP||-39%|
|Accounts Payable Clerk||2,560,000 COP||-55%|
|Accounts Payable Manager||6,450,000 COP||+13%|
|Accounts Receivable Clerk||2,540,000 COP||-56%|
|Accounts Receivable Manager||6,310,000 COP||+10%|
|Assistant Accounting Manager||6,310,000 COP||+10%|
|Assistant Auditor||3,210,000 COP||-44%|
|Audit Supervisor||6,140,000 COP||+7%|
|Auditing Clerk||2,640,000 COP||-54%|
|Auditing Manager||6,910,000 COP||+21%|
|Billing Coordinator||3,040,000 COP||-47%|
|Billing Specialist||3,460,000 COP||-39%|
|Billing Supervisor||5,290,000 COP||-7%|
|Bookkeeping Specialist||3,190,000 COP||-44%|
|Budget Analyst||5,910,000 COP||+3%|
|Budget Manager||6,720,000 COP||+18%|
|Business Support Analyst||3,620,000 COP||-37%|
|Capital Markets Associate||4,790,000 COP||-16%|
|Cash Flow Analyst||5,150,000 COP||-10%|
|Cash Management Officer||3,900,000 COP||-32%|
|Cashbook Clerk||2,330,000 COP||-59%|
|Chartered Accountant||4,110,000 COP||-28%|
|Collections Clerk||1,980,000 COP||-65%|
|Collections Specialist||3,400,000 COP||-41%|
|Corporate Treasurer||6,380,000 COP||+12%|
|Cost Accountant||3,420,000 COP||-40%|
|Cost Accounting Manager||6,280,000 COP||+10%|
|Cost Analyst||5,290,000 COP||-7%|
|Credit and Collection Manager||6,510,000 COP||+14%|
|Credit and Collection Staff||2,620,000 COP||-54%|
|Credit and Loans Officer||2,270,000 COP||-60%|
|Credit Controller||4,600,000 COP||-20%|
|Debt Adviser||5,630,000 COP||-2%|
|Debt Collector||2,600,000 COP||-55%|
|Debtors Clerk||2,330,000 COP||-59%|
|Deputy CFO||8,890,000 COP||+55%|
|Derivative Trader||5,480,000 COP||-4%|
|Escrow Assistant||3,080,000 COP||-46%|
|External Auditor||4,410,000 COP||-23%|
|Finance Associate||2,950,000 COP||-48%|
|Finance Executive||6,690,000 COP||+17%|
|Finance Licensing Clerk||2,440,000 COP||-57%|
|Finance Licensing Manager||6,120,000 COP||+7%|
|Finance Licensing Specialist||3,630,000 COP||-37%|
|Finance Officer||3,060,000 COP||-46%|
|Finance President||9,550,000 COP||+67%|
|Finance Relationship Manager||7,300,000 COP||+28%|
|Finance Release Analyst||3,760,000 COP||-34%|
|Finance Team Leader||7,010,000 COP||+23%|
|Financial Actuary||4,830,000 COP||-16%|
|Financial Administrator||5,390,000 COP||-6%|
|Financial Analyst||5,720,000 COP||+0%|
|Financial Applications Specialist||4,020,000 COP||-30%|
|Financial Assistant||2,710,000 COP||-53%|
|Financial Associate||2,550,000 COP||-55%|
|Financial Claims Analyst||4,560,000 COP||-20%|
|Financial Claims Manager||5,720,000 COP||+0%|
|Financial Commercial Analyst||4,550,000 COP||-20%|
|Financial Compliance Analyst||5,430,000 COP||-5%|
|Financial Consultant||4,310,000 COP||-25%|
|Financial Controller||5,080,000 COP||-11%|
|Financial Coordinator||3,170,000 COP||-45%|
|Financial Customer Service Manager||6,310,000 COP||+10%|
|Financial Dealer and Broker||3,620,000 COP||-37%|
|Financial Encoder||2,870,000 COP||-50%|
|Financial Manager||8,780,000 COP||+54%|
|Financial Operations Manager||8,790,000 COP||+54%|
|Financial Policy Analyst||4,870,000 COP||-15%|
|Financial Project Manager||6,520,000 COP||+14%|
|Financial Quantitative Analyst||5,700,000 COP||-0%|
|Financial Reporting Consultant||4,840,000 COP||-15%|
|Financial Reporting Manager||6,000,000 COP||+5%|
|Financial Services Sales Agent||3,640,000 COP||-36%|
|Fixed Assets Administrator||3,590,000 COP||-37%|
|Forensic Accountant||3,680,000 COP||-36%|
|Fraud Detection Supervisor||4,040,000 COP||-29%|
|Fraud Prevention Manager||7,000,000 COP||+22%|
|Fund Accountant||3,120,000 COP||-45%|
|Grants Coordinator||2,380,000 COP||-58%|
|Internal Auditor||4,420,000 COP||-23%|
|Internal Control Adviser||5,150,000 COP||-10%|
|Internal Control Officer||2,990,000 COP||-48%|
|Inventory Accountant||3,330,000 COP||-42%|
|Investment Analyst||6,400,000 COP||+12%|
|Investment Fund Manager||7,390,000 COP||+29%|
|Investment Underwriter||2,670,000 COP||-53%|
|Investor Relations Manager||6,650,000 COP||+16%|
|KYC Team Leader||6,390,000 COP||+12%|
|Management Economist||7,700,000 COP||+35%|
|Payroll Clerk||2,900,000 COP||-49%|
|Payroll Manager||5,770,000 COP||+1%|
|Pensions Administrator||3,500,000 COP||-39%|
|Pricing Analyst||5,240,000 COP||-8%|
|Private Equity Analyst||5,970,000 COP||+4%|
|Proposal Development Coordinator||2,940,000 COP||-49%|
|Receivables Accountant||3,120,000 COP||-45%|
|Regulatory Accountant||3,460,000 COP||-39%|
|Retirement Plan Analyst||5,220,000 COP||-9%|
|Revenue Management Specialist||5,690,000 COP||-0%|
|Revenue Recognition Analyst||5,790,000 COP||+1%|
|Risk Management Director||7,860,000 COP||+37%|
|Risk Management Supervisor||6,780,000 COP||+19%|
|Tax Accountant||3,270,000 COP||-43%|
|Tax Advisor||4,930,000 COP||-14%|
|Tax Associate||2,790,000 COP||-51%|
|Tax Manager||6,640,000 COP||+16%|
|Treasury Accountant||3,440,000 COP||-40%|
|Treasury Analyst||5,380,000 COP||-6%|
|Underwriting Assistant||2,190,000 COP||-62%|
|Vice President of Finance||8,980,000 COP||+57%|
|Santa Marta||6,040,000 COP|