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Financial Manager Average Salary in Germany 2024

How much money does a person working as Financial Manager make in Germany?


Average Monthly Salary
7,380 EUR
( 88,600 EUR yearly)

LOW
3,400
EUR
AVERAGE
7,380
EUR
HIGH
11,700
EUR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Financial Manager in Germany typically earns around 7,380 EUR. Salaries range from 3,400 EUR (lowest) to 11,700 EUR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Financial Manager salaries in Germany vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Financial Manager Pay Scale and Salaries in Germany

Median and salary distribution Germany Financial Manager monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
7,000 EUR or more
10% of people earn
6,140 to 7,000 EUR
20% of people earn
4,230 EUR or less
65% of people earn
4,230 to 6,140 EUR
Minimum Salary
3,400 EUR
Median
7,060 EUR
Maximum
11,700 EUR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Financial Manager in Germany range from 3,400 EUR (starting salary) to 11,700 EUR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 7,060 EUR, half of the professionals who work as Financial Manager in Germany earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Financial Manager in Germany earn less than 5,690 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 8,130 EUR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Financial Manager in Germany compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 4,230 EUR to 6,140 EUR. About 20% of salaries are below the 4,230 EUR mark, while 10% fall within the range of 6,140 EUR to 7,000 EUR. Only 5% of individuals have salaries exceeding 7,000 EUR.

Salary Comparison by Years of Experience / Financial Manager / Germany

How do experience and age affect pay?

0 - 2 Years
3,860 EUR
2 - 5 Years+34%
5,150 EUR
5 - 10 Years+48%
7,610 EUR
10 - 15 Years+22%
9,280 EUR
15 - 20 Years+9%
10,100 EUR
20+ Years+8%
10,900 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Germany 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 the wage. We broke down salaries by experience level for people working as Financial Manager and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 3,860 EUR.

While someone with an experience level between two and five years is expected to earn 5,150 EUR, 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 7,610 EUR, 48% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 9,280 EUR, 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 10,100 EUR, 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 10,900 EUR, 8% more than people with fifteen to twenty 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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Financial Manager / Germany

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Financial Manager.

Certificate or Diploma
4,400 EUR
Bachelor's Degree+57%
6,900 EUR
Master's Degree+68%
11,600 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Germany 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 salaries by education level for the position Financial Manager in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 4,400 EUR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 6,900 EUR, 57% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 11,600 EUR, 68% more than the previous level.



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 19,100 EUR to 57,400 EUR 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 to a higher-paying job. The numbers seem to support the theory. 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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Salary and Compensation Comparison By Gender / Financial Manager / Germany

Salary comparison by gender Germany Financial Manager monthly
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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? For the people who work as Financial Manager in Germany, the average difference between the salary of male and female employees is 6%.

Male
7,600 EUR
Female-6%
7,170 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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Average Annual Salary Increment Percentage / Financial Manager / Germany

How much are annual salary increments in Germany for individuals working as Financial Manager? How often do employees get salary raises?

Individuals working as Financial Manager in Germany are likely to observe a salary increase of approximately 13% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.

Annual Salary Increment Rate Germany 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.

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 rare 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%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Financial Manager / Germany

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

Average Hourly Wage / Financial Manager / Germany


43 EUR per hour

The average hourly wage (pay per hour) for individuals working as Financial Manager in Germany is 43 EUR.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Financial Manager in Germany is 20 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner2,010 EUR-73%
Account Executive3,220 EUR-56%
Accountant2,500 EUR-66%
Accounting Analyst3,240 EUR-56%
Accounting Assistant1,920 EUR-74%
Accounting Associate1,790 EUR-76%
Accounting Clerk1,570 EUR-79%
Accounting Coordinator2,410 EUR-67%
Accounting Head5,110 EUR-31%
Accounting Manager5,670 EUR-23%
Accounting Officer1,920 EUR-74%
Accounting Specialist3,450 EUR-53%
Accounting Supervisor3,640 EUR-51%
Accounting Technician1,770 EUR-76%
Accounting Unit Controller4,340 EUR-41%
Accounts Executive3,170 EUR-57%
Accounts Officer1,950 EUR-74%
Accounts Payable and Receivable Specialist2,690 EUR-64%
Accounts Payable Assistant2,170 EUR-71%
Accounts Payable Associate2,450 EUR-67%
Accounts Payable Clerk1,950 EUR-74%
Accounts Payable Manager5,080 EUR-31%
Accounts Receivable Administrator3,980 EUR-46%
Accounts Receivable Clerk1,880 EUR-75%
Accounts Receivable Financial Analyst3,610 EUR-51%
Accounts Receivable Manager4,810 EUR-35%
Accounts Receivable Team Leader3,890 EUR-47%
Algorithmic Trading Specialist4,660 EUR-37%
Assistant Accountant2,070 EUR-72%
Assistant Accounting Manager4,610 EUR-38%
Assistant Auditor2,710 EUR-63%
Assistant Corporate Controller3,480 EUR-53%
Assistant Finance Manager5,460 EUR-26%
Assistant Financial Controller3,550 EUR-52%
Audit Director6,110 EUR-17%
Audit Supervisor4,540 EUR-39%
Auditing Clerk1,950 EUR-74%
Auditing Manager5,300 EUR-28%
Billing Clerk2,080 EUR-72%
Billing Coordinator2,440 EUR-67%
Billing Specialist2,880 EUR-61%
Billing Supervisor4,070 EUR-45%
Bookkeeper1,720 EUR-77%
Bookkeeping Specialist2,420 EUR-67%
Budget Analyst4,410 EUR-40%
Budget Manager5,180 EUR-30%
Business Support Analyst3,060 EUR-59%
Capital Markets Associate3,800 EUR-49%
Cash Flow Analyst3,710 EUR-50%
Cash Management Manager5,280 EUR-28%
Cash Management Officer3,010 EUR-59%
Cashbook Clerk1,700 EUR-77%
Chartered Accountant3,280 EUR-56%
Chief Accountant3,790 EUR-49%
Chief Financial Technology Officer5,610 EUR-24%
Collections Clerk1,600 EUR-78%
Collections Representative2,320 EUR-69%
Collections Specialist2,640 EUR-64%
Corporate Controller4,060 EUR-45%
Corporate Treasurer4,950 EUR-33%
Cost Accountant2,590 EUR-65%
Cost Accounting Manager5,040 EUR-32%
Cost Accounting Supervisor4,200 EUR-43%
Cost Analyst3,960 EUR-46%
Credit and Collection Manager5,020 EUR-32%
Credit and Collection Staff1,930 EUR-74%
Credit and Loans Officer1,950 EUR-74%
Credit Controller3,410 EUR-54%
Credit Manager5,510 EUR-25%
Debt Adviser4,440 EUR-40%
Debt Collector2,130 EUR-71%
Debtors Clerk1,840 EUR-75%
Debtors Controller1,920 EUR-74%
Deputy CFO7,320 EUR-1%
Deputy Head of Finance7,050 EUR-5%
Derivative Trader4,540 EUR-39%
Director of Finance7,970 EUR+8%
E-commerce Accountant2,810 EUR-62%
Economist6,300 EUR-15%
Equity Analyst4,800 EUR-35%
Escrow Assistant2,320 EUR-69%
Executive Accountant2,800 EUR-62%
External Auditor3,500 EUR-53%
Finance Administrator2,980 EUR-60%
Finance Analyst4,750 EUR-36%
Finance Associate2,180 EUR-70%
Finance Data Analyst4,280 EUR-42%
Finance Director8,010 EUR+8%
Finance Executive5,310 EUR-28%
Finance Licensing Clerk1,780 EUR-76%
Finance Licensing Manager5,110 EUR-31%
Finance Licensing Specialist2,840 EUR-62%
Finance Manager7,470 EUR+1%
Finance Officer2,560 EUR-65%
Finance President7,360 EUR-0%
Finance Relationship Manager6,060 EUR-18%
Finance Release Analyst2,990 EUR-60%
Finance Specialist4,330 EUR-41%
Finance Team Leader 6,020 EUR-18%
Financial Accountant2,580 EUR-65%
Financial Actuary4,100 EUR-44%
Financial Administrator4,290 EUR-42%
Financial Advisor4,660 EUR-37%
Financial Analyst4,690 EUR-36%
Financial Applications Specialist3,180 EUR-57%
Financial Assistant2,010 EUR-73%
Financial Associate2,410 EUR-67%
Financial Claims Analyst3,410 EUR-54%
Financial Claims Manager4,420 EUR-40%
Financial Claims Supervisor4,450 EUR-40%
Financial Clerk1,900 EUR-74%
Financial Commercial Analyst3,700 EUR-50%
Financial Compliance Analyst4,010 EUR-46%
Financial Compliance Officer4,120 EUR-44%
Financial Consultant3,440 EUR-53%
Financial Controller4,290 EUR-42%
Financial Coordinator2,330 EUR-68%
Financial Customer Service Manager4,750 EUR-36%
Financial Data Scientist4,750 EUR-36%
Financial Dealer and Broker2,870 EUR-61%
Financial Director7,800 EUR+6%
Financial Encoder2,200 EUR-70%
Financial Manager6,900 EUR-7%
Financial Modelling Analyst4,490 EUR-39%
Financial Operations Manager6,320 EUR-14%
Financial Policy Analyst4,090 EUR-45%
Financial Project Manager5,230 EUR-29%
Financial Quantitative Analyst4,620 EUR-37%
Financial Reporting Consultant3,620 EUR-51%
Financial Reporting Manager5,040 EUR-32%
Financial Section Head5,120 EUR-31%
Financial Services Manager6,590 EUR-11%
Financial Services Sales Agent2,860 EUR-61%
Financial Technology Consultant4,270 EUR-42%
Financial Wellness Coach5,460 EUR-26%
FinTech Analyst4,500 EUR-39%
Fixed Assets Administrator2,580 EUR-65%
Forensic Accountant3,060 EUR-59%
Fraud Detection Supervisor3,140 EUR-57%
Fraud Prevention Manager5,100 EUR-31%
Fund Accountant2,590 EUR-65%
Grants Coordinator1,840 EUR-75%
Green Finance Analyst4,090 EUR-45%
Group Financial Manager7,600 EUR+3%
Internal Auditor3,620 EUR-51%
Internal Control Adviser4,010 EUR-46%
Internal Control Officer2,180 EUR-70%
International Tax Director6,210 EUR-16%
Inventory Accountant2,780 EUR-62%
Investment Advisor7,120 EUR-4%
Investment Analyst5,160 EUR-30%
Investment Associate4,490 EUR-39%
Investment Broker4,300 EUR-42%
Investment Fund Manager5,860 EUR-21%
Investment Operations Manager5,610 EUR-24%
Investment Underwriter2,190 EUR-70%
Investor3,420 EUR-54%
Investor Relations Manager5,230 EUR-29%
KYC Team Leader4,850 EUR-34%
Loan Processor2,210 EUR-70%
Management Accountant3,000 EUR-59%
Management Economist6,050 EUR-18%
Paymaster2,070 EUR-72%
Payroll Administrator3,390 EUR-54%
Payroll Benefits Coordinator2,950 EUR-60%
Payroll Billing Manager4,790 EUR-35%
Payroll Clerk2,200 EUR-70%
Payroll Manager4,530 EUR-39%
Payroll Officer2,240 EUR-70%
Payroll Specialist2,630 EUR-64%
Payroll Supervisor3,430 EUR-54%
Pensions Administrator2,750 EUR-63%
Personal Financial Advisor3,820 EUR-48%
Pricing Analyst4,110 EUR-44%
Private Equity Analyst4,510 EUR-39%
Project Accountant2,670 EUR-64%
Proposal Development Coordinator2,310 EUR-69%
Quantitative Trader3,620 EUR-51%
Receivables Accountant2,280 EUR-69%
Regulatory Accountant2,840 EUR-62%
Retirement Plan Analyst4,060 EUR-45%
Revenue Management Specialist4,140 EUR-44%
Revenue Recognition Analyst4,660 EUR-37%
Risk Management Director5,980 EUR-19%
Risk Management Supervisor5,340 EUR-28%
Staff Accountant2,560 EUR-65%
Tax Accountant2,510 EUR-66%
Tax Administrator2,840 EUR-62%
Tax Advisor3,940 EUR-47%
Tax Analyst3,860 EUR-48%
Tax Associate2,220 EUR-70%
Tax Consultant3,940 EUR-47%
Tax Director6,220 EUR-16%
Tax Examiner2,820 EUR-62%
Tax Manager5,410 EUR-27%
Tax Research Manager5,310 EUR-28%
Teller1,520 EUR-79%
Treasury Accountant2,700 EUR-63%
Treasury Analyst4,100 EUR-44%
Underwriter1,780 EUR-76%
Underwriting Assistant1,640 EUR-78%
Vice President of Finance6,990 EUR-5%

Salary Comparison By City

CityAverage Salary
Berlin8,360 EUR
Dortmund6,640 EUR
Frankfurt7,990 EUR
Hamburg8,270 EUR
Munchen8,180 EUR
Stuttgart7,740 EUR

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Germany is 5% on average across all career fields.

Private Sector
3,740 EUR
Public Sector+5%
3,910 EUR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Financial Manager in Germany?

A good and competitive compensation would range anywhere between 7,060 EUR and 8,130 EUR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Financial Manager in Germany ranges from 3,400 EUR to 5,690 EUR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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