HOME BROWSE SALARIES ARTICLES BEST PAYING JOBS SUBMIT SALARY
Browse Salaries
Best Paying Jobs
Articles
Submit Salary
Salary Increase Letters

Financial Manager Average Salary in Sri Lanka 2024

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


Average Monthly Salary
181,000 LKR
( 2,170,000 LKR yearly)

LOW
94,000
LKR
AVERAGE
181,000
LKR
HIGH
277,000
LKR
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 Sri Lanka typically earns around 181,000 LKR. Salaries range from 94,000 LKR (lowest) to 277,000 LKR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Financial Manager salaries in Sri Lanka 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 Sri Lanka

Median and salary distribution Sri Lanka Financial Manager monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/median-and-salary-distribution-monthly-sri-lanka-financial-manager.jpg

Salary Structure and Pay Scale Comparison

5% of people earn
164,000 LKR or more
10% of people earn
146,000 to 164,000 LKR
20% of people earn
106,000 LKR or less
65% of people earn
106,000 to 146,000 LKR
Minimum Salary
94,000 LKR
Median
164,000 LKR
Maximum
277,000 LKR




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 Sri Lanka range from 94,000 LKR (starting salary) to 277,000 LKR (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 164,000 LKR, half of the professionals who work as Financial Manager in Sri Lanka 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 Sri Lanka earn less than 136,000 LKR, while 75% earn more. Similarly, the chart shows that 75% earn less than 187,000 LKR 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 Sri Lanka compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 106,000 LKR to 146,000 LKR. About 20% of salaries are below the 106,000 LKR mark, while 10% fall within the range of 146,000 LKR to 164,000 LKR. Only 5% of individuals have salaries exceeding 164,000 LKR.

Salary Comparison by Years of Experience / Financial Manager / Sri Lanka

How do experience and age affect pay?

0 - 2 Years
107,000 LKR
2 - 5 Years+34%
143,000 LKR
5 - 10 Years+30%
186,000 LKR
10 - 15 Years+21%
225,000 LKR
15 - 20 Years+9%
246,000 LKR
20+ Years+5%
259,000 LKR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Sri Lanka Financial Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/salary-comparison-by-years-of-experience-monthly-sri-lanka-financial-manager.jpg

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 107,000 LKR.

While someone with an experience level between two and five years is expected to earn 143,000 LKR, 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 186,000 LKR, 30% 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 225,000 LKR, 21% 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 246,000 LKR, 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 259,000 LKR, 5% 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg

Salary Comparison By Education / Financial Manager / Sri Lanka

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
127,000 LKR
Bachelor's Degree+52%
193,000 LKR
Master's Degree+42%
273,000 LKR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Sri Lanka Financial Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/salary-comparison-by-education-level-monthly-sri-lanka-financial-manager.jpg

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 127,000 LKR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 193,000 LKR, 52% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 273,000 LKR, 42% 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 Sri Lanka costs anywhere from 450,000 LKR to 1,350,000 LKR 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
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg


Salary and Compensation Comparison By Gender / Financial Manager / Sri Lanka

Salary comparison by gender Sri Lanka Financial Manager monthly
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/salary-comparison-by-gender-monthly-sri-lanka-financial-manager.jpg

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 Sri Lanka, the average difference between the salary of male and female employees is 10%.

Male
191,000 LKR
Female-9%
174,000 LKR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Sri Lanka for all Careers

Salary comparison by gender monthly Sri Lanka
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/salary-comparison-by-gender-monthly-sri-lanka.jpg


Average Annual Salary Increment Percentage / Financial Manager / Sri Lanka

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

Individuals working as Financial Manager in Sri Lanka are likely to observe a salary increase of approximately 14% every 18 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Sri Lanka Financial Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/annual-salary-increment-rate-sri-lanka-financial-manager.jpg


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.

Sri Lanka / All Professions

Annual Salary Increment Rate Sri Lanka
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/annual-salary-increment-rate-sri-lanka.jpg

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 Sri Lanka is 6%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg

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 / Sri Lanka

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Sri Lanka Financial Manager
Share This Chart
        Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/financial-manager/annual-salary-bonus-rate-sri-lanka-financial-manager.jpg

21% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 79% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
79%
No Bonus
21%

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 / Sri Lanka


1,040 LKR per hour

The average hourly wage (pay per hour) for individuals working as Financial Manager in Sri Lanka is 1,040 LKR.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 Sri Lanka is 540 LKR. 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 Examiner47,900 LKR-73%
Account Executive85,500 LKR-53%
Accountant67,100 LKR-63%
Accounting Analyst79,400 LKR-56%
Accounting Assistant52,700 LKR-71%
Accounting Associate45,400 LKR-75%
Accounting Clerk39,900 LKR-78%
Accounting Coordinator57,500 LKR-68%
Accounting Head135,000 LKR-25%
Accounting Manager134,000 LKR-26%
Accounting Officer48,100 LKR-73%
Accounting Specialist88,300 LKR-51%
Accounting Supervisor87,500 LKR-52%
Accounting Technician47,800 LKR-74%
Accounting Unit Controller109,000 LKR-40%
Accounts Executive81,800 LKR-55%
Accounts Officer51,300 LKR-72%
Accounts Payable and Receivable Specialist69,200 LKR-62%
Accounts Payable Assistant53,700 LKR-70%
Accounts Payable Associate57,700 LKR-68%
Accounts Payable Clerk46,900 LKR-74%
Accounts Payable Manager125,000 LKR-31%
Accounts Receivable Administrator93,300 LKR-48%
Accounts Receivable Clerk47,300 LKR-74%
Accounts Receivable Financial Analyst88,900 LKR-51%
Accounts Receivable Manager124,000 LKR-31%
Accounts Receivable Team Leader93,300 LKR-48%
Algorithmic Trading Specialist120,000 LKR-34%
Assistant Accountant48,500 LKR-73%
Assistant Accounting Manager125,000 LKR-31%
Assistant Auditor64,600 LKR-64%
Assistant Corporate Controller91,900 LKR-49%
Assistant Finance Manager143,000 LKR-21%
Assistant Financial Controller91,600 LKR-49%
Audit Director149,000 LKR-18%
Audit Supervisor119,000 LKR-34%
Auditing Clerk51,300 LKR-72%
Auditing Manager138,000 LKR-24%
Billing Clerk48,700 LKR-73%
Billing Coordinator58,400 LKR-68%
Billing Specialist69,900 LKR-61%
Billing Supervisor103,000 LKR-43%
Bookkeeper44,400 LKR-75%
Bookkeeping Specialist65,100 LKR-64%
Budget Analyst116,000 LKR-36%
Budget Manager140,000 LKR-23%
Business Support Analyst72,900 LKR-60%
Capital Markets Associate99,200 LKR-45%
Cash Flow Analyst103,000 LKR-43%
Cash Management Manager135,000 LKR-25%
Cash Management Officer78,800 LKR-56%
Cashbook Clerk44,500 LKR-75%
Chartered Accountant87,900 LKR-51%
Chief Accountant98,600 LKR-45%
Chief Financial Technology Officer139,000 LKR-23%
Collections Clerk41,300 LKR-77%
Collections Representative58,400 LKR-68%
Collections Specialist64,900 LKR-64%
Corporate Controller104,000 LKR-42%
Corporate Treasurer122,000 LKR-32%
Cost Accountant67,200 LKR-63%
Cost Accounting Manager127,000 LKR-30%
Cost Accounting Supervisor103,000 LKR-43%
Cost Analyst102,000 LKR-44%
Credit and Collection Manager136,000 LKR-25%
Credit and Collection Staff48,700 LKR-73%
Credit and Loans Officer46,600 LKR-74%
Credit Controller91,200 LKR-50%
Credit Manager135,000 LKR-25%
Debt Adviser106,000 LKR-41%
Debt Collector52,000 LKR-71%
Debtors Clerk44,900 LKR-75%
Debtors Controller48,100 LKR-73%
Deputy CFO187,000 LKR+3%
Deputy Head of Finance189,000 LKR+5%
Derivative Trader109,000 LKR-40%
Director of Finance187,000 LKR+3%
E-commerce Accountant71,800 LKR-60%
Economist153,000 LKR-15%
Equity Analyst119,000 LKR-34%
Escrow Assistant58,000 LKR-68%
Executive Accountant71,100 LKR-61%
External Auditor93,300 LKR-48%
Finance Administrator75,000 LKR-59%
Finance Analyst120,000 LKR-34%
Finance Associate56,100 LKR-69%
Finance Data Analyst103,000 LKR-43%
Finance Director191,000 LKR+6%
Finance Executive141,000 LKR-22%
Finance Licensing Clerk48,500 LKR-73%
Finance Licensing Manager129,000 LKR-29%
Finance Licensing Specialist73,300 LKR-59%
Finance Manager182,000 LKR+1%
Finance Officer64,400 LKR-64%
Finance President203,000 LKR+12%
Finance Relationship Manager149,000 LKR-18%
Finance Release Analyst77,300 LKR-57%
Finance Specialist108,000 LKR-40%
Finance Team Leader 144,000 LKR-20%
Financial Accountant64,600 LKR-64%
Financial Actuary101,000 LKR-44%
Financial Administrator113,000 LKR-37%
Financial Advisor119,000 LKR-34%
Financial Analyst119,000 LKR-34%
Financial Applications Specialist81,400 LKR-55%
Financial Assistant52,700 LKR-71%
Financial Associate62,900 LKR-65%
Financial Claims Analyst84,500 LKR-53%
Financial Claims Manager112,000 LKR-38%
Financial Claims Supervisor105,000 LKR-42%
Financial Clerk52,300 LKR-71%
Financial Commercial Analyst99,200 LKR-45%
Financial Compliance Analyst105,000 LKR-42%
Financial Compliance Officer101,000 LKR-44%
Financial Consultant92,300 LKR-49%
Financial Controller110,000 LKR-39%
Financial Coordinator57,700 LKR-68%
Financial Customer Service Manager119,000 LKR-34%
Financial Data Scientist119,000 LKR-34%
Financial Dealer and Broker71,300 LKR-61%
Financial Director200,000 LKR+11%
Financial Encoder55,000 LKR-70%
Financial Manager181,000 LKR+0%
Financial Modelling Analyst116,000 LKR-36%
Financial Operations Manager172,000 LKR-5%
Financial Policy Analyst107,000 LKR-41%
Financial Project Manager132,000 LKR-27%
Financial Quantitative Analyst118,000 LKR-35%
Financial Reporting Consultant91,600 LKR-49%
Financial Reporting Manager132,000 LKR-27%
Financial Section Head127,000 LKR-30%
Financial Services Manager165,000 LKR-9%
Financial Services Sales Agent69,200 LKR-62%
Financial Technology Consultant102,000 LKR-44%
Financial Wellness Coach133,000 LKR-26%
FinTech Analyst112,000 LKR-38%
Fixed Assets Administrator70,100 LKR-61%
Forensic Accountant75,000 LKR-59%
Fraud Detection Supervisor80,400 LKR-56%
Fraud Prevention Manager134,000 LKR-26%
Fund Accountant62,900 LKR-65%
Grants Coordinator46,700 LKR-74%
Green Finance Analyst99,500 LKR-45%
Group Financial Manager186,000 LKR+3%
Internal Auditor89,400 LKR-51%
Internal Control Adviser103,000 LKR-43%
Internal Control Officer57,100 LKR-68%
International Tax Director161,000 LKR-11%
Inventory Accountant70,100 LKR-61%
Investment Advisor177,000 LKR-2%
Investment Analyst131,000 LKR-28%
Investment Associate111,000 LKR-39%
Investment Broker112,000 LKR-38%
Investment Fund Manager148,000 LKR-18%
Investment Operations Manager149,000 LKR-18%
Investment Underwriter56,800 LKR-69%
Investor89,300 LKR-51%
Investor Relations Manager126,000 LKR-30%
KYC Team Leader133,000 LKR-26%
Loan Processor53,000 LKR-71%
Management Accountant76,600 LKR-58%
Management Economist146,000 LKR-19%
Paymaster55,400 LKR-69%
Payroll Administrator89,400 LKR-51%
Payroll Benefits Coordinator69,500 LKR-62%
Payroll Billing Manager115,000 LKR-36%
Payroll Clerk59,400 LKR-67%
Payroll Manager125,000 LKR-31%
Payroll Officer55,200 LKR-69%
Payroll Specialist66,300 LKR-63%
Payroll Supervisor87,500 LKR-52%
Pensions Administrator66,500 LKR-63%
Personal Financial Advisor95,800 LKR-47%
Pricing Analyst113,000 LKR-37%
Private Equity Analyst119,000 LKR-34%
Project Accountant73,200 LKR-59%
Proposal Development Coordinator55,900 LKR-69%
Quantitative Trader91,300 LKR-49%
Receivables Accountant62,000 LKR-66%
Regulatory Accountant72,200 LKR-60%
Retirement Plan Analyst104,000 LKR-42%
Revenue Management Specialist109,000 LKR-40%
Revenue Recognition Analyst120,000 LKR-34%
Risk Management Director152,000 LKR-16%
Risk Management Supervisor125,000 LKR-31%
Staff Accountant63,400 LKR-65%
Tax Accountant63,400 LKR-65%
Tax Administrator74,400 LKR-59%
Tax Advisor105,000 LKR-42%
Tax Analyst95,800 LKR-47%
Tax Associate57,200 LKR-68%
Tax Consultant100,000 LKR-45%
Tax Director146,000 LKR-19%
Tax Examiner72,400 LKR-60%
Tax Manager130,000 LKR-28%
Tax Research Manager130,000 LKR-28%
Teller38,200 LKR-79%
Treasury Accountant68,800 LKR-62%
Treasury Analyst106,000 LKR-41%
Underwriter44,800 LKR-75%
Underwriting Assistant42,300 LKR-77%
Vice President of Finance179,000 LKR-1%

Salary Comparison By City

CityAverage Salary
Colombo201,000 LKR

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 Sri Lanka is 8% on average across all career fields.

Private Sector
86,300 LKR
Public Sector+8%
92,900 LKR
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 Sri Lanka?

A good and competitive compensation would range anywhere between 164,000 LKR and 187,000 LKR. 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 Sri Lanka ranges from 94,000 LKR to 136,000 LKR. 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


Browse Salaries

Salary Increase Letters

Best Paying Jobs
Home BROWSE SALARIES ARTICLES BEST PAYING JOBS Salary Comparison

©Salary Explorer 2024