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December 17, 2018

KSA Salary Guide 2019 - Accounting & Finance

“Chartered and qualified accountant certifications such as CFA, CMA and ACCA have become more important and we expect these certifications to become the norm.”

KSA Salary Guide 2019 - Accounting & Finance
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai
Cooper Fitch Dubai

Clients struggle to find the right talent and onboard them successfully.

Nationalisation remains firmly on the agenda in the Kingdom with the requirements for senior finance professionals in high demand from both the private and public sector. Finding highly qualified finance talent with Chartered and qualified accountant certifications such as CPA, ACA, SOCPA and ACCA is challenging, with greater importance on recognised qualifications. At the end of 2018, there are more open positions for senior finance professionals in the Kingdom than any other GCC country.

Changes to the Saudi-to-expatriate employee ratio.

The Government initiatives and forming of regulations and quotas are pushing both the public and private sector to look for qualified national talent. We advise job seekers to earn prestigious accounting certifications to be able to fulfil accounting and finance vacancies across the country. There is a huge demand for upper-mid management national talent that can fill various roles from Controllers to Finance Directors. To avoid surpassing the quota of expats, many Saudi companies are trying to transfer their finance teams to shared service department outside of the region.

Big 4, multinational and GCC experience the most desired attributes.

In 2019 businesses across the Kingdom will continue their historical interest in hiring finance and accounting professionals with formal accounting qualifications (ACCA, CPA, ACA, CA, CIMA, CMA). In addition, for hires at the middle management and above levels, the top 3 most desired criteria will continue being a prior experience in a Big 4 accounting firm, preferred exposure within a multinational global company and a previous working experience anywhere in the GCC (preferably in KSA). The candidates with previous transformation, change management, IPO experience and who can implement financial discipline and improved controls will continue be at the top on the priority list. Also, the candidates with a specific sector experience matching the sector that the potential employer is working in will be first priority. Emerging markets in the Kingdom will require attracting international experts to bring subject matter expertise to the region. Highly qualified non-Saudi (however, preferably Arabic speaking) financial controllers, finance directors and chief financial officers will continue being the most desirable candidates. 

Vision 2030 makes it an exciting time to be a finance professional in the Kingdom.

The country’s Vision for year 2030 holds the potential to transform the Kingdom’s economy, however, the country is going through these transformational changes currently. The Kingdom is aiming to attract overseas investment which will mean complete financial transparency and accountability. The economy is being reshaped much more towards a private-sector model and move away from its dependency on oil.

 

ROLE

 

MIN

MAX

Group Chief Financial Officer

Large Local groups/ MNCs

100,000

150,000

Chief Financial Officer

Small to Medium Enterprises

60,000

75,000

Large Local groups/ MNCs

60,000

100,000

Financial Director

Small to Medium Enterprises

40,000

55,000

Large Local groups/ MNCs

50,000

70,000

Treasury Director

Small to Medium Enterprises

40,000

55,000

Large Local groups/ MNCs

45,000

65,000

Financial Controller

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

50,000

Financial Planning Analysis Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

45,000

Financial Planning Analysis Director

Small to Medium Enterprises

35,000

45,000

Large Local groups/ MNCs

40,000

55,000

Finance Manager

Small to Medium Enterprises

20,000

30,000

Large Local groups/ MNCs

30,000

45,000

Reporting Manager

Small to Medium Enterprises

15,000

25,000

Large Local groups/ MNCs

20,000

35,000

Budgeting Manager

Small to Medium Enterprises

20,000

30,000

Large Local groups/ MNCs

25,000

35,000

Treasury Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

45,000

Finance / Business Analyst

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

15,000

25,000

Credit Manager

Small to Medium Enterprises

15,000

20,000

Large Local groups/ MNCs

20,000

25,000

Chief Accountant

Small to Medium Enterprises

12,000

18,000

Large Local groups/ MNCs

20,000

30,000

 

 

ROLE

 

MIN

MAX

Financial Accountant

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

15,000

20,000

AP/AR Accountant

Small to Medium Enterprises

4,000

8,000

Large Local groups/ MNCs

6,000

12,000

Management Accountant

Small to Medium Enterprises

10,000

15,000

Large Local groups/ MNCs

12,000

18,000

Head of Internal Audit / Internal Audit Manager

Small to Medium Enterprises

25,000

35,000

Large Local groups/ MNCs

30,000

40,000

Internal Auditor

Small to Medium Enterprises

12,000

18,000

Large Local groups/ MNCs

15,000

25,000

Monthly salaries in Saudi Riyals (SAR). Salaries provided are exclusive of any bonus, guaranteed or otherwise. 

Please click here to view the full salary guide for this sector.

Vilius Dobilaitis By Vilius Dobilaitis

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