A person working as a Financial Manager in Czech Republic typically earns around 125,000 CZK per month. Salaries range from 61,100 CZK (lowest) to 194,000 CZK (highest).
This is the average monthly salary including housing, transport, and other benefits. Financial Manager salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Manager salaries in Czech Republic range from 61,100 CZK per month (minimum salary) to 194,000 CZK per month (maximum salary).
The median salary is 127,000 CZK per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 127,000 CZK while the other half are earning more than 127,000 CZK. 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 Manager(s) are earning less than 84,700 CZK while 75% of them are earning more than 84,700 CZK. Also from the diagram, 75% of Financial Manager(s) are earning less than 164,000 CZK while 25% are earning more than 164,000 CZK.
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 Manager salaries by experience level and this is what we found.
A Financial Manager with less than two years of experience makes approximately 72,400 CZK per month.
While someone with an experience level between two and five years is expected to earn 93,100 CZK per month, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 128,000 CZK per month, 38% more than someone with two to five years of experience.
Additionally, Financial Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 159,000 CZK per month, 24% 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 170,000 CZK per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 182,000 CZK per month, 7% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+29%|
|5 - 10 Years||+38%|
|10 - 15 Years||+24%|
|15 - 20 Years||+7%|
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 Manager salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of a Financial Manager is 93,100 CZK per month.
While someone with a Bachelor's Degree gets a salary of 125,000 CZK per month, 34% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 192,000 CZK per month, 53% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Czech Republic costs anywhere from 305,000 Czech Koruna(s) to 914,000 Czech Koruna(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 Manager employees in Czech Republic earn 6% more than their female counterparts on average.
Financial Manager(s) in Czech Republic are likely to observe a salary increase of approximately 13% every 19 months. The national average annual increment for all professions combined is 8% granted to employees every 18 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 Czech Republic 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 Manager 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.
17% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 83% 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.
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.
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 Manager is 99% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||30,700 CZK||-75%|
|Account Executive||52,300 CZK||-58%|
|Accounting Assistant||32,200 CZK||-74%|
|Accounting Associate||31,600 CZK||-75%|
|Accounting Clerk||25,700 CZK||-79%|
|Accounting Coordinator||36,800 CZK||-70%|
|Accounting Manager||90,600 CZK||-27%|
|Accounting Supervisor||61,200 CZK||-51%|
|Accounting Technician||28,900 CZK||-77%|
|Accounts Executive||54,900 CZK||-56%|
|Accounts Payable and Receivable Specialist||44,900 CZK||-64%|
|Accounts Payable Clerk||30,400 CZK||-76%|
|Accounts Payable Manager||85,500 CZK||-31%|
|Accounts Receivable Clerk||30,800 CZK||-75%|
|Accounts Receivable Manager||85,200 CZK||-32%|
|Assistant Accounting Manager||82,700 CZK||-34%|
|Assistant Auditor||40,400 CZK||-68%|
|Audit Supervisor||78,900 CZK||-37%|
|Auditing Clerk||34,000 CZK||-73%|
|Auditing Manager||92,400 CZK||-26%|
|Billing Coordinator||39,100 CZK||-69%|
|Billing Specialist||43,200 CZK||-65%|
|Billing Supervisor||66,000 CZK||-47%|
|Bookkeeping Specialist||39,400 CZK||-68%|
|Budget Analyst||75,300 CZK||-40%|
|Budget Manager||86,400 CZK||-31%|
|Business Support Analyst||45,600 CZK||-63%|
|Capital Markets Associate||62,900 CZK||-50%|
|Cash Flow Analyst||66,900 CZK||-46%|
|Cash Management Officer||46,700 CZK||-63%|
|Cashbook Clerk||28,900 CZK||-77%|
|Chartered Accountant||55,000 CZK||-56%|
|Collections Clerk||25,900 CZK||-79%|
|Collections Specialist||43,300 CZK||-65%|
|Corporate Treasurer||81,200 CZK||-35%|
|Cost Accountant||44,000 CZK||-65%|
|Cost Accounting Manager||80,800 CZK||-35%|
|Cost Analyst||68,600 CZK||-45%|
|Credit and Collection Manager||83,800 CZK||-33%|
|Credit and Collection Staff||31,700 CZK||-75%|
|Credit and Loans Officer||29,800 CZK||-76%|
|Credit Controller||60,900 CZK||-51%|
|Debt Adviser||69,600 CZK||-44%|
|Debt Collector||35,900 CZK||-71%|
|Debtors Clerk||29,600 CZK||-76%|
|Deputy CFO||117,000 CZK||-6%|
|Derivative Trader||76,300 CZK||-39%|
|Escrow Assistant||37,300 CZK||-70%|
|External Auditor||59,700 CZK||-52%|
|Finance Associate||36,900 CZK||-70%|
|Finance Executive||90,500 CZK||-27%|
|Finance Licensing Clerk||31,900 CZK||-74%|
|Finance Licensing Manager||81,100 CZK||-35%|
|Finance Licensing Specialist||44,000 CZK||-65%|
|Finance Officer||40,500 CZK||-68%|
|Finance President||126,000 CZK||+1%|
|Finance Relationship Manager||94,900 CZK||-24%|
|Finance Release Analyst||47,400 CZK||-62%|
|Finance Team Leader||92,000 CZK||-26%|
|Financial Actuary||64,700 CZK||-48%|
|Financial Administrator||70,000 CZK||-44%|
|Financial Analyst||75,800 CZK||-39%|
|Financial Applications Specialist||51,100 CZK||-59%|
|Financial Assistant||34,900 CZK||-72%|
|Financial Associate||35,200 CZK||-72%|
|Financial Claims Analyst||55,700 CZK||-55%|
|Financial Claims Manager||78,000 CZK||-37%|
|Financial Commercial Analyst||63,400 CZK||-49%|
|Financial Compliance Analyst||69,800 CZK||-44%|
|Financial Consultant||57,700 CZK||-54%|
|Financial Controller||65,900 CZK||-47%|
|Financial Coordinator||37,200 CZK||-70%|
|Financial Customer Service Manager||76,500 CZK||-39%|
|Financial Dealer and Broker||47,500 CZK||-62%|
|Financial Encoder||36,200 CZK||-71%|
|Financial Manager||113,000 CZK||-9%|
|Financial Operations Manager||111,000 CZK||-11%|
|Financial Policy Analyst||68,500 CZK||-45%|
|Financial Project Manager||83,800 CZK||-33%|
|Financial Quantitative Analyst||71,900 CZK||-42%|
|Financial Reporting Consultant||61,000 CZK||-51%|
|Financial Reporting Manager||84,500 CZK||-32%|
|Financial Services Sales Agent||46,800 CZK||-62%|
|Fixed Assets Administrator||45,200 CZK||-64%|
|Forensic Accountant||47,900 CZK||-62%|
|Fraud Detection Supervisor||54,500 CZK||-56%|
|Fraud Prevention Manager||86,600 CZK||-31%|
|Fund Accountant||38,800 CZK||-69%|
|Grants Coordinator||32,500 CZK||-74%|
|Internal Auditor||54,500 CZK||-56%|
|Internal Control Adviser||69,600 CZK||-44%|
|Internal Control Officer||37,000 CZK||-70%|
|Inventory Accountant||44,100 CZK||-65%|
|Investment Analyst||81,400 CZK||-35%|
|Investment Fund Manager||90,200 CZK||-28%|
|Investment Underwriter||36,400 CZK||-71%|
|Investor Relations Manager||85,500 CZK||-31%|
|KYC Team Leader||81,300 CZK||-35%|
|Management Economist||99,000 CZK||-21%|
|Payroll Clerk||35,900 CZK||-71%|
|Payroll Manager||79,600 CZK||-36%|
|Pensions Administrator||45,000 CZK||-64%|
|Pricing Analyst||72,200 CZK||-42%|
|Private Equity Analyst||71,500 CZK||-43%|
|Proposal Development Coordinator||37,800 CZK||-70%|
|Receivables Accountant||40,900 CZK||-67%|
|Regulatory Accountant||45,900 CZK||-63%|
|Retirement Plan Analyst||70,500 CZK||-43%|
|Revenue Management Specialist||70,300 CZK||-44%|
|Revenue Recognition Analyst||76,800 CZK||-38%|
|Risk Management Director||103,000 CZK||-17%|
|Risk Management Supervisor||81,300 CZK||-35%|
|Tax Accountant||40,800 CZK||-67%|
|Tax Advisor||66,000 CZK||-47%|
|Tax Associate||35,100 CZK||-72%|
|Tax Manager||88,800 CZK||-29%|
|Treasury Accountant||44,200 CZK||-65%|
|Treasury Analyst||72,700 CZK||-42%|
|Underwriting Assistant||28,400 CZK||-77%|
|Vice President of Finance||121,000 CZK||-3%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Czech Republic earn 7% more than their private sector counterparts on average across all sectors.