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Financial Manager Average Salary in Fiji 2020

How much money does a Financial Manager make in Fiji?


Average Monthly Salary
10,700 FJD
( 129,000 FJD yearly)

LOW
4,940
FJD
AVERAGE
10,700
FJD
HIGH
17,100
FJD

A person working as a Financial Manager in Fiji typically earns around 10,700 FJD per month. Salaries range from 4,940 FJD (lowest) to 17,100 FJD (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 Salary Distribution in Fiji

Median and salary distribution monthly Fiji Financial Manager
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The median, the maximum, the minimum, and the range

  • Salary Range

    Financial Manager salaries in Fiji range from 4,940 FJD per month (minimum salary) to 17,100 FJD per month (maximum salary).

  • Median Salary

    The median salary is 11,600 FJD per month, which means that half (50%) of people working as Financial Manager(s) are earning less than 11,600 FJD while the other half are earning more than 11,600 FJD. 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 Manager(s) are earning less than 7,450 FJD while 75% of them are earning more than 7,450 FJD. Also from the diagram, 75% of Financial Manager(s) are earning less than 15,500 FJD while 25% are earning more than 15,500 FJD.


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 Manager Salary Comparison by Years of Experience

How does experience and age affect your pay?

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

A Financial Manager with less than two years of experience makes approximately 5,610 FJD per month.

While someone with an experience level between two and five years is expected to earn 7,490 FJD 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 11,100 FJD per month, 48% 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 Manager(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 13,500 FJD per month, 22% 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 14,700 FJD 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 15,900 FJD per month, 8% more than people with fifteen to twenty years of experience.


Financial Manager average salary change by experience in Fiji

0 - 2 Years
5,610 FJD
2 - 5 Years+34%
7,490 FJD
5 - 10 Years+48%
11,100 FJD
10 - 15 Years+22%
13,500 FJD
15 - 20 Years+9%
14,700 FJD
20+ Years+8%
15,900 FJD
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 Manager Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Fiji Financial Manager
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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 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 6,400 FJD per month.

While someone with a Bachelor's Degree gets a salary of 10,000 FJD per month, 57% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 16,800 FJD per month, 68% more than someone with a Bachelor's Degree.


Financial Manager average salary difference by education level in Fiji

Certificate or Diploma
6,400 FJD
Bachelor's Degree+57%
10,000 FJD
Master's Degree+68%
16,800 FJD
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 Fiji costs anywhere from 29,200 Fiji Dollar(s) to 87,700 Fiji Dollar(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 Manager Salary Comparison By Gender

Salary comparison by gender monthly Fiji Financial Manager
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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 Manager employees in Fiji earn 16% more than their female counterparts.

Female
9,970 FJD
Male+16%
11,500 FJD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Fiji for all Careers

Salary comparison by gender monthly Fiji
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Financial Manager Average Annual Salary Increment Percentage in Fiji

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

Financial Manager

Financial Manager(s) in Fiji are likely to observe a salary increase of approximately 9% every 29 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Fiji Financial Manager
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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.

Fiji / All Professions

Annual Salary Increment Rate Fiji
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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 Fiji is 2%.

Annual Increment Rate By Industry 2019

Banking
9%
Energy
9%
Information Technology
9%
Healthcare
9%
Travel
9%
Construction
9%
Education
9%

Listed above are the average annual increase rates for each industry in Fiji 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 Manager Bonus and Incentive Rates in Fiji

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

32% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 68% 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.

Received Bonus
68%
No Bonus
32%

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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Fiji
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Where can you get paid more, working for a private company or for the government? Public sector Financial Manager employees in Fiji earn 25% more than their private sector counterparts.

Private Sector
5,200 FJD
Public Sector+25%
6,490 FJD
Percentage increase and decrease are relative to the previous value

Financial Manager Salary Trend and Forecast in Fiji

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

Salary trends and forecast monthly Fiji Financial Manager
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Average Salary 2016
9,290 FJD
Average Salary 2017+4%
9,630 FJD
Average Salary 2018+4%
9,990 FJD
Average Salary 2019+4%
10,400 FJD
Percentage increase and decrease are relative to the previous value

Financial Manager salaries in Fiji are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% 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 Manager Average Hourly Wage in Fiji


62 FJD per hour

The average hourly wage (pay per hour) in Fiji is 62 FJD. This means that the average Financial Manager in Fiji earns approximately 62 FJD 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 Manager VS Other Jobs

Salary Comparison Between Financial Manager and Accounting and Finance monthly Fiji
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The average salary for Financial Manager is 90% 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 Examiner3,290 FJD-69%
Account Executive5,210 FJD-52%
Accountant3,820 FJD-64%
Accounting Assistant3,580 FJD-67%
Accounting Associate3,880 FJD-64%
Accounting Clerk2,810 FJD-74%
Accounting Coordinator2,950 FJD-73%
Accounting Manager7,550 FJD-30%
Accounting Supervisor5,100 FJD-53%
Accounting Technician3,320 FJD-69%
Accounts Executive4,700 FJD-56%
Accounts Payable and Receivable Specialist4,390 FJD-59%
Accounts Payable Clerk2,870 FJD-73%
Accounts Payable Manager5,640 FJD-48%
Accounts Receivable Clerk3,210 FJD-70%
Accounts Receivable Manager6,260 FJD-42%
Assistant Accounting Manager4,660 FJD-57%
Assistant Auditor4,260 FJD-60%
Audit Supervisor7,170 FJD-33%
Auditing Clerk3,620 FJD-66%
Auditing Manager7,420 FJD-31%
Billing Coordinator4,620 FJD-57%
Billing Specialist4,420 FJD-59%
Billing Supervisor5,210 FJD-52%
Bookkeeper3,090 FJD-71%
Bookkeeping Specialist3,790 FJD-65%
Budget Analyst4,660 FJD-57%
Budget Manager6,620 FJD-38%
Business Support Analyst5,200 FJD-52%
Capital Markets Associate5,920 FJD-45%
Cash Flow Analyst5,420 FJD-50%
Cash Management Officer5,310 FJD-51%
Cashbook Clerk3,670 FJD-66%
Chartered Accountant4,750 FJD-56%
Collections Clerk2,810 FJD-74%
Collections Specialist3,870 FJD-64%
Corporate Treasurer10,200 FJD-5%
Cost Accountant4,710 FJD-56%
Cost Accounting Manager6,040 FJD-44%
Cost Analyst5,530 FJD-49%
Credit and Collection Manager6,410 FJD-40%
Credit and Collection Staff3,290 FJD-69%
Credit and Loans Officer3,020 FJD-72%
Credit Controller5,270 FJD-51%
Debt Adviser6,770 FJD-37%
Debt Collector4,630 FJD-57%
Debtors Clerk4,070 FJD-62%
Deputy CFO10,000 FJD-7%
Derivative Trader7,550 FJD-30%
Escrow Assistant4,500 FJD-58%
External Auditor5,870 FJD-45%
Finance Associate4,100 FJD-62%
Finance Executive9,420 FJD-12%
Finance Licensing Clerk3,430 FJD-68%
Finance Licensing Manager5,890 FJD-45%
Finance Licensing Specialist4,510 FJD-58%
Finance Officer6,630 FJD-38%
Finance President11,300 FJD+5%
Finance Relationship Manager7,600 FJD-29%
Finance Release Analyst5,450 FJD-49%
Finance Team Leader 5,710 FJD-47%
Financial Actuary5,330 FJD-50%
Financial Administrator4,600 FJD-57%
Financial Analyst5,760 FJD-46%
Financial Applications Specialist3,790 FJD-65%
Financial Assistant3,340 FJD-69%
Financial Associate4,290 FJD-60%
Financial Claims Analyst5,010 FJD-53%
Financial Claims Manager6,110 FJD-43%
Financial Commercial Analyst4,890 FJD-54%
Financial Compliance Analyst5,530 FJD-49%
Financial Consultant5,160 FJD-52%
Financial Controller5,500 FJD-49%
Financial Coordinator4,890 FJD-54%
Financial Customer Service Manager6,670 FJD-38%
Financial Dealer and Broker5,070 FJD-53%
Financial Encoder3,250 FJD-70%
Financial Manager10,700 FJD-0%
Financial Operations Manager8,390 FJD-22%
Financial Policy Analyst5,440 FJD-49%
Financial Project Manager5,400 FJD-50%
Financial Quantitative Analyst6,160 FJD-43%
Financial Reporting Consultant5,300 FJD-51%
Financial Reporting Manager6,610 FJD-38%
Financial Services Sales Agent4,810 FJD-55%
Fixed Assets Administrator4,710 FJD-56%
Forensic Accountant4,290 FJD-60%
Fraud Detection Supervisor5,050 FJD-53%
Fraud Prevention Manager8,290 FJD-23%
Fund Accountant4,140 FJD-61%
Grants Coordinator3,670 FJD-66%
Internal Auditor5,780 FJD-46%
Internal Control Adviser5,670 FJD-47%
Internal Control Officer5,130 FJD-52%
Inventory Accountant9,200 FJD-14%
Investment Analyst6,880 FJD-36%
Investment Fund Manager7,760 FJD-28%
Investment Underwriter3,390 FJD-68%
Investor5,160 FJD-52%
Investor Relations Manager6,690 FJD-38%
KYC Team Leader6,540 FJD-39%
Management Economist5,950 FJD-45%
Paymaster4,250 FJD-60%
Payroll Clerk3,180 FJD-70%
Payroll Manager5,820 FJD-46%
Pensions Administrator4,150 FJD-61%
Pricing Analyst6,330 FJD-41%
Private Equity Analyst6,480 FJD-40%
Proposal Development Coordinator4,080 FJD-62%
Receivables Accountant3,630 FJD-66%
Regulatory Accountant4,300 FJD-60%
Retirement Plan Analyst5,530 FJD-49%
Revenue Management Specialist4,990 FJD-54%
Revenue Recognition Analyst7,370 FJD-31%
Risk Management Director8,750 FJD-19%
Risk Management Supervisor6,530 FJD-39%
Tax Accountant3,910 FJD-64%
Tax Advisor5,370 FJD-50%
Tax Associate4,490 FJD-58%
Tax Manager8,400 FJD-22%
Teller2,490 FJD-77%
Treasury Accountant4,280 FJD-60%
Treasury Analyst5,970 FJD-44%
Underwriter3,340 FJD-69%
Underwriting Assistant2,970 FJD-72%
Vice President of Finance7,780 FJD-28%

Salary Comparison By City

CityAverage Salary
Suva12,900 FJD
12500 - 1

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