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Chief Financial Officer Average Salary in Germany 2020

How much money does a Chief Financial Officer make in Germany?


Average Monthly Salary
23,000 EUR
( 277,000 EUR yearly)

LOW
10,600
EUR
AVERAGE
23,000
EUR
HIGH
36,600
EUR

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 Salary Distribution in Germany

Median and salary distribution monthly Germany Chief Financial Officer
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chief Financial Officer salaries in Germany range from 10,600 EUR per month (minimum salary) to 36,600 EUR per month (maximum salary).

  • Median 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.

  • Percentiles

    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.


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

Chief Financial Officer Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Germany Chief Financial Officer
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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 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.

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, 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.


Chief Financial Officer average salary change by experience in Germany

0 - 2 Years
12,000 EUR
2 - 5 Years+34%
16,100 EUR
5 - 10 Years+48%
23,800 EUR
10 - 15 Years+22%
29,000 EUR
15 - 20 Years+9%
31,600 EUR
20+ Years+8%
34,200 EUR
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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Chief Financial Officer Salary Comparison By Education

How do education levels affect salaries?

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

Salary comparison by education level monthly Germany Chief Financial Officer
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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 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.


Chief Financial Officer average salary difference by education level in Germany

High School
14,800 EUR
Certificate or Diploma+18%
17,400 EUR
Bachelor's Degree+45%
25,200 EUR
Master's Degree+31%
33,000 EUR
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 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.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Chief Financial Officer Salary Comparison By Gender

Salary comparison by gender monthly Germany Chief Financial Officer
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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 Chief Financial Officer employees in Germany earn 7% more than their female counterparts.

Female
22,200 EUR
Male+7%
23,900 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Germany for all Careers

Salary comparison by gender monthly Germany
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Chief Financial Officer Average Annual Salary Increment Percentage in Germany

How much are annual salary increments in Germany for Chief Financial Officer(s)? How often do employees get salary raises?

Chief Financial Officer

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.

Annual Salary Increment Rate Germany Chief Financial Officer
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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.

Germany / All Professions

Annual Salary Increment Rate Germany
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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 Germany is 6%.

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 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.


Worldwide Salary Raises: All Countries and All Jobs

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Chief Financial Officer Bonus and Incentive Rates in Germany

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Germany Chief Financial Officer
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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.

Received Bonus
88%
No Bonus
12%

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 Germany
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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.

Private Sector
11,600 EUR
Public Sector+5%
12,100 EUR
Percentage increase and decrease are relative to the previous value

Chief Financial Officer Salary Trend and Forecast in Germany

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

Salary trends and forecast monthly Germany Chief Financial Officer
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Average Salary 2016
19,900 EUR
Average Salary 2017+4%
20,700 EUR
Average Salary 2018+4%
21,400 EUR
Average Salary 2019+4%
22,200 EUR
Percentage increase and decrease are relative to the previous value

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.

Chief Financial Officer Average Hourly Wage in Germany


130 EUR per hour

The average hourly wage (pay per hour) in Germany is 130 EUR. This means that the average Chief Financial Officer in Germany earns approximately 130 EUR 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.

Chief Financial Officer VS Other Jobs

Salary Comparison Between Chief Financial Officer and Executive and Management monthly Germany
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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.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Coordinator10,200 EUR-56%
Administration Manager12,300 EUR-47%
Area Manager11,500 EUR-50%
Asset Protection Associate14,400 EUR-38%
Assistant Director12,400 EUR-46%
Assistant Manager14,500 EUR-37%
Assistant Operations Manager15,400 EUR-33%
Assistant Project Manager12,700 EUR-45%
Assistant Section Head11,200 EUR-51%
Assistant to CEO12,500 EUR-46%
Assistant Vice President14,600 EUR-37%
Associate Director13,400 EUR-42%
Bid Manager15,200 EUR-34%
Branch Manager14,600 EUR-37%
Business Development Manager15,800 EUR-31%
Business Operations Associate13,400 EUR-42%
Business Operations Lead13,500 EUR-41%
Campaign Manager14,900 EUR-35%
Chairman of The Board25,900 EUR+12%
Chairman Office Manager16,700 EUR-28%
Chief Corporate Officer19,600 EUR-15%
Chief Executive Officer25,000 EUR+8%
Chief Financial Officer23,000 EUR-0%
Chief of Staff11,800 EUR-49%
Chief Operating Officer17,300 EUR-25%
Chief Risk Officer15,700 EUR-32%
Client Services Manager17,100 EUR-26%
Commercial Project Manager14,200 EUR-38%
Commodity Broker10,200 EUR-56%
Corporate Affairs Executive15,400 EUR-33%
Corporate Compliance Director17,300 EUR-25%
Corporate Director17,800 EUR-23%
Corporate Officer12,200 EUR-47%
Corporate Partnerships Officer12,300 EUR-47%
Country Manager20,700 EUR-10%
Deputy Director18,000 EUR-22%
Director20,300 EUR-12%
Director of Accreditation16,600 EUR-28%
Director of Catering Services14,600 EUR-37%
Director of Client Services16,800 EUR-27%
Director of Facilities Management14,500 EUR-37%
Director of Operations17,400 EUR-25%
Director of Process Simplification13,100 EUR-43%
Director of Project Management17,500 EUR-24%
Director of Revenue Management16,000 EUR-31%
Director of Training and Development16,400 EUR-29%
Distribution Manager17,200 EUR-25%
Division Manager15,400 EUR-33%
Duty Manager14,100 EUR-39%
Engagement Manager17,300 EUR-25%
Executive Director24,300 EUR+5%
Executive Manager21,400 EUR-7%
Franchise Manager21,500 EUR-7%
General Manager18,900 EUR-18%
Global Master Data Manager17,900 EUR-22%
Head of Middle Office16,200 EUR-30%
Head of Projects16,800 EUR-27%
Head of Sustainability14,500 EUR-37%
Housing Manager13,700 EUR-41%
HSE Manager13,500 EUR-41%
Key Account Manager13,900 EUR-40%
Knowledge Manager16,400 EUR-29%
Location Manager15,200 EUR-34%
Logistics Manager13,700 EUR-41%
Management Consultant13,900 EUR-40%
Management Executive17,900 EUR-22%
Manager17,500 EUR-24%
Managing Director20,700 EUR-10%
MIS Executive17,800 EUR-23%
Ocean Services Manager18,000 EUR-22%
Operations Assistant12,700 EUR-45%
Operations Director18,900 EUR-18%
Operations Executive18,700 EUR-19%
Operations Manager19,200 EUR-17%
Operations Supervisor15,400 EUR-33%
Policy Administration Executive14,200 EUR-38%
Private Sector Executive15,600 EUR-32%
Product Development Manager17,300 EUR-25%
Product Executive14,900 EUR-35%
Production Executive16,700 EUR-28%
Production Manager17,400 EUR-25%
Production Supervisor13,900 EUR-40%
Program Manager17,300 EUR-25%
Programme Coordinator12,500 EUR-46%
Project Control Manager17,600 EUR-24%
Project Coordinator10,900 EUR-53%
Project Management Officer12,500 EUR-46%
Project Manager12,200 EUR-47%
Project Portfolio Manager13,900 EUR-40%
Quality Manager14,200 EUR-38%
R/D Director14,700 EUR-36%
Regional Director23,800 EUR+3%
Regional Manager17,800 EUR-23%
Relationship Manager16,800 EUR-27%
Retail District Manager11,500 EUR-50%
Revenue Manager14,100 EUR-39%
Risk and Capital Manager18,300 EUR-21%
Risk Officer13,300 EUR-42%
Safety Manager13,000 EUR-44%
Section Head13,300 EUR-42%
Service Manager14,200 EUR-38%
Shift Supervisor10,600 EUR-54%
Solutions Manager12,100 EUR-48%
Supervisor10,300 EUR-55%
Supply Chain Manager18,000 EUR-22%
Surveyor11,900 EUR-48%
Technical Manager15,600 EUR-32%
Territory Manager16,400 EUR-29%
Validation Manager14,700 EUR-36%
Vice President19,700 EUR-15%
Zone Manager18,500 EUR-20%

Salary Comparison By City

CityAverage Salary
Berlin27,400 EUR
Bremen23,700 EUR
Dortmund21,700 EUR
Dresden21,500 EUR
Dusseldorf23,800 EUR
Essen23,900 EUR
Frankfurt23,600 EUR
Hamburg25,800 EUR
Hannover20,800 EUR
Koln25,200 EUR
Leipzig23,000 EUR
Munchen26,800 EUR
Nurnberg19,700 EUR
Stuttgart24,100 EUR
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