Finance Manager Monthly Salary

Finance Manager Monthly Salary – A person who works as a financial manager in Bosnia and Herzegovina earns about 4,800 KM per month on average. The salary ranges from 2,210 KM (lowest) to 7,630 KM (highest).

This is the average monthly salary, including housing, transportation and other benefits. A financial manager’s salary varies widely based on experience, skills, gender or location. Below you will find a detailed analysis based on several different criteria.

Finance Manager Monthly Salary

Both are indicators. If your salary is above average and average, then you are doing well. If your salary is lower than both, then many people earn more than you and there is more room for improvement. If your salaries are between average and middle, then things can get a little complicated. We have written a guide to explain the different scenarios. How to compare your salary.

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Experience level is the most important factor in determining salary. Of course, the more years of experience you have, the higher your salary. We broke down finance manager salaries by experience level and this is what we found.

While those with 2 to 5 years of experience are expected to earn 3,350 KM per month, 34% more than those with less than two years of experience.

In the future, between five and ten years of experience earn 4,950 KM per month, 48% more than those with 2 to 5 years of experience.

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“On average, an individual’s salary doubles their starting salary by the time they get through 10 years of experience *.”

In addition, skilled financial managers aged ten to fifteen receive a salary of 6,030 KM per month, 22% more than those with five to ten years of experience.

If the level of experience is between fifteen and twenty years, then the expected salary is 6,570 KM per month, 9% more than those with ten to fifteen years of experience.

Finally, employees with more than twenty years of service earn 7,120 KM per month, 8% more than people with fifteen to twenty years of service.

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Financial Manager Salary Comparison by Education How Education Level Affects Salary Below is the difference between average salaries between different financial managers with the same experience Different levels of education.

We all know that a higher education means a higher salary, but how much can a degree increase your income? For comparison, we divided the salaries of financial managers according to the level of education.

When the level of education is a Certificate or Diploma, the average salary of a financial manager is 2,860 KM per month.

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While those with a bachelor’s degree earn 4,490 KM per month, 57% more than those with a bachelor’s or master’s degree.

Masters earn an average of 7,520 KM per month, 68% more than those with a bachelor’s degree.

A master’s or postgraduate program in Bosnia and Herzegovina costs from 11,500 to 34,500 and lasts about two years. It really is an investment.

You really can’t expect a pay rise during your studies, assuming you already have a job. In most cases, salary checks are made after completing education and obtaining a degree.

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Many people look to higher education as a strategy for transitioning to higher paying jobs. The numbers seem to support the theory. The average increase in compensation when changing jobs is about 10% more than a normal salary increase.

If you can afford higher education, the return on investment is definitely worth it. You should be able to recover in about a year.

Although gender should not affect wages, it actually does. So who gets paid more than men or women? Male financial management staff in Bosnia and Herzegovina earn 11% more than their average female colleagues.

Percentage increase in the average annual salary of financial managers in Bosnia and Herzegovina What is the percentage increase in the annual salary in Bosnia and Herzegovina of financial managers? How often do employees get a raise?

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Financial managers in Bosnia and Herzegovina are likely to see their salaries increase by around 9% every 30 months. The national average annual increase for all professions combined is 4% which is given to employees every 29 months.

The figures given here are average. These figures should be taken as general guidelines. Pay increases will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization are still the most important factors in determining how often and how often you will be paid. How much.

The term ‘annual pay rise’ usually refers to a 12-month pay rise in a calendar year, but since it’s rare for people to actually receive their pay checks at the one-year mark. It is more logical to know the frequency and rate of this time. Increases.

The annual salary increase per calendar year (12 months) can be easily calculated as follows: Annual salary increase = rate of increase x 12 ÷ frequency of increase

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Above are the average annual growth rates for each industry in Bosnia and Herzegovina for the year 2022. Companies in emerging industries tend to offer larger and more frequent installations. There are exceptions, but in general the status of each company is closely related to the economic situation in the country or region. These figures change frequently.

Bonuses and incentives Rate of financial managers in Bosnia and Herzegovina How often and how often are bonuses offered Share this chart TweetGet Chart Linkhttp: /// charts / bosnia-and-herzegovina / accounting-and-finance / financial-manager / year- salary – bonus-rate-bosnia-and-herzegovina-financial-manager.jpg Financial managers are considered well-paid jobs because of their generally limited involvement in direct income generation with exceptions. The people with the biggest bonuses are usually involved in the income generation cycle. 31% of employees surveyed said they had not received any bonuses or incentives in the previous year, while 69% said they had received at least one form of bonus. Bonus recipients report rates ranging from 5% to 9% of their annual salary. Earn a bonus69% No bonus 31% This type of bonus is considered a performance-based bonus, the most standard form of bonus that rewards employees based on their specific performance. Company bonus from practice Sometimes companies like to celebrate with their employees excess income and profits in the form of bonuses that are given to everyone. The bonus amount may vary from person to person depending on their role in the institution. Goal-based bonuses are awarded when a major goal or milestone is achieved. Holiday/Annual Bonuses These types of bonuses are given for no reason and usually resemble a token of appreciation. A bonus is not a commission! People tend to confuse bonuses with commissions. Commission is a preferential rate at which someone receives money for goods sold or work done, while bonuses are in most cases arbitrary and unplanned. What makes a position worth a good bonus and high salary? Two main types of revenue generating work support Cast employees who are directly involved in generating revenue or profit for the organization. Their area of ​​expertise usually corresponds to the type of work. Employees who support and coordinate your work generate income. Their skills are usually different from basic business operations. Example: A graphic designer working for a graphic design company. Example: Graphic designer in the marketing department of a hospital. Income generators typically get bigger bonuses, higher salaries, and more frequent pay raises. The reason is simple: it’s easy to set your price for a business in monetary terms when you’re involved in generating revenue. Try to work for a company where your skills can bring income. “We can’t all make money and that’s perfect.” A comparison of bonuses by senior level, top management staff and senior staff shows naturally higher bonus rates and frequency. This is very predictable due to the inherent responsibility of higher ups in the hierarchy. People at the top can get double or triple the bonus rate more easily than employees down the pyramid.

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The average hourly wage in Bosnia and Herzegovina is 28 KM. This means that the average financial manager in Bosnia and Herzegovina earns about 28 KM for each working hour.

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Hourly wages are wages paid per hour of work. Usually work

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