A person working as a Chief Financial Officer in Germany typically earns around 23,000 EUR per month. Salaries range from 10,600 EUR (lowest) to 36,600 EUR (highest).
This is the average monthly salary including housing, transport, and other benefits. Chief Financial Officer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chief Financial Officer salaries in Germany range from 10,600 EUR per month (minimum salary) to 36,600 EUR per month (maximum salary).
The median salary is 24,900 EUR per month, which means that half (50%) of people working as Chief Financial Officer(s) are earning less than 24,900 EUR while the other half are earning more than 24,900 EUR. 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 Chief Financial Officer(s) are earning less than 16,000 EUR while 75% of them are earning more than 16,000 EUR. Also from the diagram, 75% of Chief Financial Officer(s) are earning less than 33,200 EUR while 25% are earning more than 33,200 EUR.
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 Chief Financial Officer salaries by experience level and this is what we found.
A Chief Financial Officer with less than two years of experience makes approximately 12,000 EUR per month.
While someone with an experience level between two and five years is expected to earn 16,100 EUR 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 23,800 EUR per month, 48% more than someone with two to five years of experience.
Additionally, Chief Financial Officer(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 29,000 EUR 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 31,600 EUR 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 34,200 EUR per month, 8% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+34%|
|5 - 10 Years||+48%|
|10 - 15 Years||+22%|
|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 Chief Financial Officer salaries by education level in order to make a comparison.
When the education level is High School, the average salary of a Chief Financial Officer is 14,800 EUR per month.
While someone with a Certificate or Diploma gets a salary of 17,400 EUR per month, 18% more than someone having a High School degree.
A Bachelor's Degree gets its holder an average salary of 25,200 EUR per month, 45% more than someone with a Certificate or Diploma.
Professionals who hold a Master's Degree are rewarded with an average salary of 33,000 EUR per month, 31% more than someone with Bachelor's Degree.
|Certificate or Diploma||+18%|
A Master's degree program or any post-graduate program in Germany costs anywhere from 59,400 Euro(s) to 178,000 Euro(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 Chief Financial Officer employees in Germany earn 7% more than their female counterparts.
Chief Financial Officer(s) in Germany are likely to observe a salary increase of approximately 14% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 16 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 Germany 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 Chief Financial Officer 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.
12% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 88% 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.
Where can you get paid more, working for a private company or for the government? Public sector Chief Financial Officer employees in Germany earn 5% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+4%|
|Average Salary 2019||+4%|
Chief Financial Officer salaries in Germany 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.
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 Chief Financial Officer is 43% more than that of Executive and Management. Also, Executive and Management salaries are 36% more than those of All Jobs.
|Job Title||Average Salary|
|Account Coordinator||10,200 EUR||-56%|
|Administration Manager||12,300 EUR||-47%|
|Area Manager||11,500 EUR||-50%|
|Asset Protection Associate||14,400 EUR||-38%|
|Assistant Director||12,400 EUR||-46%|
|Assistant Manager||14,500 EUR||-37%|
|Assistant Operations Manager||15,400 EUR||-33%|
|Assistant Project Manager||12,700 EUR||-45%|
|Assistant Section Head||11,200 EUR||-51%|
|Assistant to CEO||12,500 EUR||-46%|
|Assistant Vice President||14,600 EUR||-37%|
|Associate Director||13,400 EUR||-42%|
|Bid Manager||15,200 EUR||-34%|
|Branch Manager||14,600 EUR||-37%|
|Business Development Manager||15,800 EUR||-31%|
|Business Operations Associate||13,400 EUR||-42%|
|Business Operations Lead||13,500 EUR||-41%|
|Campaign Manager||14,900 EUR||-35%|
|Chairman of The Board||25,900 EUR||+12%|
|Chairman Office Manager||16,700 EUR||-28%|
|Chief Corporate Officer||19,600 EUR||-15%|
|Chief Executive Officer||25,000 EUR||+8%|
|Chief Financial Officer||23,000 EUR||-0%|
|Chief of Staff||11,800 EUR||-49%|
|Chief Operating Officer||17,300 EUR||-25%|
|Chief Risk Officer||15,700 EUR||-32%|
|Client Services Manager||17,100 EUR||-26%|
|Commercial Project Manager||14,200 EUR||-38%|
|Commodity Broker||10,200 EUR||-56%|
|Corporate Affairs Executive||15,400 EUR||-33%|
|Corporate Compliance Director||17,300 EUR||-25%|
|Corporate Director||17,800 EUR||-23%|
|Corporate Officer||12,200 EUR||-47%|
|Corporate Partnerships Officer||12,300 EUR||-47%|
|Country Manager||20,700 EUR||-10%|
|Deputy Director||18,000 EUR||-22%|
|Director of Accreditation||16,600 EUR||-28%|
|Director of Catering Services||14,600 EUR||-37%|
|Director of Client Services||16,800 EUR||-27%|
|Director of Facilities Management||14,500 EUR||-37%|
|Director of Operations||17,400 EUR||-25%|
|Director of Process Simplification||13,100 EUR||-43%|
|Director of Project Management||17,500 EUR||-24%|
|Director of Revenue Management||16,000 EUR||-31%|
|Director of Training and Development||16,400 EUR||-29%|
|Distribution Manager||17,200 EUR||-25%|
|Division Manager||15,400 EUR||-33%|
|Duty Manager||14,100 EUR||-39%|
|Engagement Manager||17,300 EUR||-25%|
|Executive Director||24,300 EUR||+5%|
|Executive Manager||21,400 EUR||-7%|
|Franchise Manager||21,500 EUR||-7%|
|General Manager||18,900 EUR||-18%|
|Global Master Data Manager||17,900 EUR||-22%|
|Head of Middle Office||16,200 EUR||-30%|
|Head of Projects||16,800 EUR||-27%|
|Head of Sustainability||14,500 EUR||-37%|
|Housing Manager||13,700 EUR||-41%|
|HSE Manager||13,500 EUR||-41%|
|Key Account Manager||13,900 EUR||-40%|
|Knowledge Manager||16,400 EUR||-29%|
|Location Manager||15,200 EUR||-34%|
|Logistics Manager||13,700 EUR||-41%|
|Management Consultant||13,900 EUR||-40%|
|Management Executive||17,900 EUR||-22%|
|Managing Director||20,700 EUR||-10%|
|MIS Executive||17,800 EUR||-23%|
|Ocean Services Manager||18,000 EUR||-22%|
|Operations Assistant||12,700 EUR||-45%|
|Operations Director||18,900 EUR||-18%|
|Operations Executive||18,700 EUR||-19%|
|Operations Manager||19,200 EUR||-17%|
|Operations Supervisor||15,400 EUR||-33%|
|Policy Administration Executive||14,200 EUR||-38%|
|Private Sector Executive||15,600 EUR||-32%|
|Product Development Manager||17,300 EUR||-25%|
|Product Executive||14,900 EUR||-35%|
|Production Executive||16,700 EUR||-28%|
|Production Manager||17,400 EUR||-25%|
|Production Supervisor||13,900 EUR||-40%|
|Program Manager||17,300 EUR||-25%|
|Programme Coordinator||12,500 EUR||-46%|
|Project Control Manager||17,600 EUR||-24%|
|Project Coordinator||10,900 EUR||-53%|
|Project Management Officer||12,500 EUR||-46%|
|Project Manager||12,200 EUR||-47%|
|Project Portfolio Manager||13,900 EUR||-40%|
|Quality Manager||14,200 EUR||-38%|
|R/D Director||14,700 EUR||-36%|
|Regional Director||23,800 EUR||+3%|
|Regional Manager||17,800 EUR||-23%|
|Relationship Manager||16,800 EUR||-27%|
|Retail District Manager||11,500 EUR||-50%|
|Revenue Manager||14,100 EUR||-39%|
|Risk and Capital Manager||18,300 EUR||-21%|
|Risk Officer||13,300 EUR||-42%|
|Safety Manager||13,000 EUR||-44%|
|Section Head||13,300 EUR||-42%|
|Service Manager||14,200 EUR||-38%|
|Shift Supervisor||10,600 EUR||-54%|
|Solutions Manager||12,100 EUR||-48%|
|Supply Chain Manager||18,000 EUR||-22%|
|Technical Manager||15,600 EUR||-32%|
|Territory Manager||16,400 EUR||-29%|
|Validation Manager||14,700 EUR||-36%|
|Vice President||19,700 EUR||-15%|
|Zone Manager||18,500 EUR||-20%|