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Financial Analyst Average Salary in Denmark 2020

How much money does a Financial Analyst make in Denmark?

Average Monthly Salary
139,000 DKK
( 1,670,000 DKK yearly)


A person working as a Financial Analyst in Denmark typically earns around 139,000 DKK per month. Salaries range from 73,600 DKK (lowest) to 211,000 DKK (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 Salary Distribution in Denmark

Median and salary distribution monthly Denmark Financial Analyst
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The median, the maximum, the minimum, and the range

  • Salary Range

    Financial Analyst salaries in Denmark range from 73,600 DKK per month (minimum salary) to 211,000 DKK per month (maximum salary).

  • Median Salary

    The median salary is 131,000 DKK per month, which means that half (50%) of people working as Financial Analyst(s) are earning less than 131,000 DKK while the other half are earning more than 131,000 DKK. 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 Financial Analyst(s) are earning less than 91,900 DKK while 75% of them are earning more than 91,900 DKK. Also from the diagram, 75% of Financial Analyst(s) are earning less than 161,000 DKK while 25% are earning more than 161,000 DKK.

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

Financial Analyst Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Denmark Financial Analyst
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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 Financial Analyst salaries by experience level and this is what we found.

A Financial Analyst with less than two years of experience makes approximately 84,600 DKK per month.

While someone with an experience level between two and five years is expected to earn 104,000 DKK per month, 23% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 147,000 DKK 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, Financial Analyst(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 172,000 DKK per month, 17% 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 189,000 DKK per month, 10% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 200,000 DKK per month, 6% more than people with fifteen to twenty years of experience.

Financial Analyst average salary change by experience in Denmark

0 - 2 Years
84,600 DKK
2 - 5 Years+23%
104,000 DKK
5 - 10 Years+42%
147,000 DKK
10 - 15 Years+17%
172,000 DKK
15 - 20 Years+10%
189,000 DKK
20+ Years+6%
200,000 DKK
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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Financial Analyst Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Denmark Financial Analyst
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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 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 102,000 DKK per month.

While someone with a Certificate or Diploma gets a salary of 116,000 DKK per month, 13% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 152,000 DKK per month, 31% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 200,000 DKK per month, 32% more than someone with Bachelor's Degree.

Financial Analyst average salary difference by education level in Denmark

High School
102,000 DKK
Certificate or Diploma+13%
116,000 DKK
Bachelor's Degree+31%
152,000 DKK
Master's Degree+32%
200,000 DKK
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 Denmark costs anywhere from 683,000 Danish Krone(s) to 2,050,000 Danish Krone(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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Financial Analyst Salary Comparison By Gender

Salary comparison by gender monthly Denmark Financial Analyst
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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 Financial Analyst employees in Denmark earn 4% more than their female counterparts.

136,000 DKK
142,000 DKK
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Denmark for all Careers

Salary comparison by gender monthly Denmark
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Financial Analyst Average Annual Salary Increment Percentage in Denmark

How much are annual salary increments in Denmark for Financial Analyst(s)? How often do employees get salary raises?

Financial Analyst

Financial Analyst(s) in Denmark are likely to observe a salary increase of approximately 12% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Denmark Financial Analyst
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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.

Denmark / All Professions

Annual Salary Increment Rate Denmark
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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 Denmark is 7%.

Annual Increment Rate By Industry 2019

Information Technology

Listed above are the average annual increase rates for each industry in Denmark 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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Financial Analyst Bonus and Incentive Rates in Denmark

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Denmark Financial Analyst
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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.

47% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 53% 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.

Received Bonus
No Bonus

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.

A graphics designer working for a graphics designing company.

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 Denmark
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Where can you get paid more, working for a private company or for the government? Public sector Financial Analyst employees in Denmark earn 6% more than their private sector counterparts.

Private Sector
133,000 DKK
Public Sector+6%
140,000 DKK
Percentage increase and decrease are relative to the previous value

Financial Analyst Salary Trend and Forecast in Denmark

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

Salary trends and forecast monthly Denmark Financial Analyst
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Average Salary 2016
125,000 DKK
Average Salary 2017+4%
130,000 DKK
Average Salary 2018+2%
132,000 DKK
Average Salary 2019+2%
135,000 DKK
Percentage increase and decrease are relative to the previous value

Financial Analyst salaries in Denmark are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% 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.

Financial Analyst Average Hourly Wage in Denmark

800 DKK per hour

The average hourly wage (pay per hour) in Denmark is 800 DKK. This means that the average Financial Analyst in Denmark earns approximately 800 DKK 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.

Financial Analyst VS Other Jobs

Salary Comparison Between Financial Analyst and Accounting and Finance monthly Denmark
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner82,100 DKK-41%
Account Executive131,000 DKK-6%
Accountant93,100 DKK-33%
Accounting Assistant86,000 DKK-38%
Accounting Associate86,200 DKK-38%
Accounting Clerk66,500 DKK-52%
Accounting Coordinator73,800 DKK-47%
Accounting Manager176,000 DKK+27%
Accounting Supervisor122,000 DKK-12%
Accounting Technician83,100 DKK-40%
Accounts Executive119,000 DKK-14%
Accounts Payable and Receivable Specialist106,000 DKK-24%
Accounts Payable Clerk66,000 DKK-52%
Accounts Payable Manager142,000 DKK+2%
Accounts Receivable Clerk72,000 DKK-48%
Accounts Receivable Manager153,000 DKK+10%
Assistant Accounting Manager112,000 DKK-19%
Assistant Auditor99,700 DKK-28%
Audit Supervisor180,000 DKK+30%
Auditing Clerk91,000 DKK-34%
Auditing Manager176,000 DKK+27%
Billing Coordinator107,000 DKK-23%
Billing Specialist103,000 DKK-26%
Billing Supervisor131,000 DKK-6%
Bookkeeper69,600 DKK-50%
Bookkeeping Specialist95,000 DKK-32%
Budget Analyst103,000 DKK-26%
Budget Manager160,000 DKK+15%
Business Support Analyst122,000 DKK-12%
Capital Markets Associate145,000 DKK+4%
Cash Flow Analyst129,000 DKK-7%
Cash Management Officer123,000 DKK-11%
Cashbook Clerk86,500 DKK-38%
Chartered Accountant120,000 DKK-14%
Collections Clerk67,400 DKK-51%
Collections Specialist91,200 DKK-34%
Corporate Treasurer241,000 DKK+74%
Cost Accountant105,000 DKK-24%
Cost Accounting Manager140,000 DKK+1%
Cost Analyst140,000 DKK+1%
Credit and Collection Manager155,000 DKK+12%
Credit and Collection Staff73,700 DKK-47%
Credit and Loans Officer75,500 DKK-46%
Credit Controller127,000 DKK-9%
Debt Adviser163,000 DKK+17%
Debt Collector110,000 DKK-21%
Debtors Clerk94,000 DKK-32%
Deputy CFO236,000 DKK+70%
Derivative Trader180,000 DKK+30%
Escrow Assistant109,000 DKK-22%
External Auditor138,000 DKK-1%
Finance Associate97,200 DKK-30%
Finance Executive221,000 DKK+59%
Finance Licensing Clerk82,200 DKK-41%
Finance Licensing Manager139,000 DKK+0%
Finance Licensing Specialist105,000 DKK-24%
Finance Officer157,000 DKK+13%
Finance President262,000 DKK+89%
Finance Relationship Manager192,000 DKK+38%
Finance Release Analyst123,000 DKK-11%
Finance Team Leader 143,000 DKK+3%
Financial Actuary127,000 DKK-9%
Financial Administrator110,000 DKK-21%
Financial Analyst139,000 DKK+0%
Financial Applications Specialist87,500 DKK-37%
Financial Assistant84,100 DKK-39%
Financial Associate96,000 DKK-31%
Financial Claims Analyst125,000 DKK-10%
Financial Claims Manager136,000 DKK-2%
Financial Commercial Analyst119,000 DKK-14%
Financial Compliance Analyst139,000 DKK+0%
Financial Consultant130,000 DKK-6%
Financial Controller124,000 DKK-11%
Financial Coordinator114,000 DKK-18%
Financial Customer Service Manager162,000 DKK+17%
Financial Dealer and Broker124,000 DKK-11%
Financial Encoder76,100 DKK-45%
Financial Manager255,000 DKK+84%
Financial Operations Manager189,000 DKK+36%
Financial Policy Analyst131,000 DKK-6%
Financial Project Manager125,000 DKK-10%
Financial Quantitative Analyst150,000 DKK+8%
Financial Reporting Consultant127,000 DKK-9%
Financial Reporting Manager159,000 DKK+14%
Financial Services Sales Agent114,000 DKK-18%
Fixed Assets Administrator106,000 DKK-24%
Forensic Accountant108,000 DKK-22%
Fraud Detection Supervisor121,000 DKK-13%
Fraud Prevention Manager195,000 DKK+40%
Fund Accountant96,300 DKK-31%
Grants Coordinator81,400 DKK-41%
Internal Auditor134,000 DKK-4%
Internal Control Adviser136,000 DKK-2%
Internal Control Officer121,000 DKK-13%
Inventory Accountant218,000 DKK+57%
Investment Analyst172,000 DKK+24%
Investment Fund Manager182,000 DKK+31%
Investment Underwriter78,200 DKK-44%
Investor124,000 DKK-11%
Investor Relations Manager158,000 DKK+14%
KYC Team Leader157,000 DKK+13%
Management Economist141,000 DKK+2%
Paymaster103,000 DKK-26%
Payroll Clerk79,800 DKK-43%
Payroll Manager130,000 DKK-6%
Pensions Administrator98,200 DKK-29%
Pricing Analyst142,000 DKK+2%
Private Equity Analyst153,000 DKK+10%
Proposal Development Coordinator96,600 DKK-30%
Receivables Accountant87,100 DKK-37%
Regulatory Accountant104,000 DKK-25%
Retirement Plan Analyst132,000 DKK-5%
Revenue Management Specialist118,000 DKK-15%
Revenue Recognition Analyst164,000 DKK+18%
Risk Management Director201,000 DKK+45%
Risk Management Supervisor164,000 DKK+18%
Tax Accountant98,400 DKK-29%
Tax Advisor135,000 DKK-3%
Tax Associate101,000 DKK-27%
Tax Manager188,000 DKK+35%
Teller59,900 DKK-57%
Treasury Accountant101,000 DKK-27%
Treasury Analyst146,000 DKK+5%
Underwriter77,600 DKK-44%
Underwriting Assistant75,100 DKK-46%
Vice President of Finance186,000 DKK+34%

Salary Comparison By City

CityAverage Salary
Copenhagen158,000 DKK
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