Financial Applications Specialist Average Salary in Egypt 2024
How much money does a person working as Financial Applications Specialist make in Egypt?
LOW
4,410
EGP AVERAGE
8,170
EGP HIGH
12,300
EGP
A person working as Financial Applications Specialist in Egypt typically earns around 8,170 EGP. Salaries range from 4,410 EGP (lowest) to 12,300 EGP (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Financial Applications Specialist salaries in Egypt vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Financial Applications Specialist Pay Scale and Salaries in Egypt
Salary Structure and Pay Scale Comparison
7,280 EGP or more
6,520 to 7,280 EGP
4,850 EGP or less
4,850 to 6,520 EGP
 4,410 EGP |
7,300 EGP |
12,300 EGP |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Financial Applications Specialist in Egypt range from 4,410 EGP (starting salary) to 12,300 EGP (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 7,300 EGP, half of the professionals who work as Financial Applications Specialist in Egypt 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 Applications Specialist in Egypt earn less than 6,110 EGP, while 75% earn more. Similarly, the chart shows that 75% earn less than 8,250 EGP 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 Applications Specialist in Egypt compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 4,850 EGP to 6,520 EGP. About 20% of salaries are below the 4,850 EGP mark, while 10% fall within the range of 6,520 EGP to 7,280 EGP. Only 5% of individuals have salaries exceeding 7,280 EGP.
Salary Comparison by Years of Experience / Financial Applications Specialist / Egypt
How do experience and age affect pay?
| 0 - 2 Years | 5,130 EGP | |
| 2 - 5 Years | +26% | 6,470 EGP |
| 5 - 10 Years | +32% | 8,540 EGP |
| 10 - 15 Years | +18% | 10,000 EGP |
| 15 - 20 Years | +11% | 11,100 EGP |
| 20+ Years | +6% | 11,800 EGP |
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 Applications Specialist and this is what we found.
Employees with less than two years of experience earn approximately 5,130 EGP.
While someone with an experience level between two and five years is expected to earn 6,470 EGP, 26% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 8,540 EGP, 32% 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 10,000 EGP, 18% 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 11,100 EGP, 11% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 11,800 EGP, 6% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Financial Applications Specialist / Egypt
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Financial Applications Specialist.
| High School | 6,240 EGP | |
| Certificate or Diploma | +13% | 7,030 EGP |
| Bachelor's Degree | +32% | 9,250 EGP |
| Master's Degree | +24% | 11,500 EGP |
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 Applications Specialist in order to make a comparison.
Level 1: High School
Employees at this education level have an average salary of 6,240 EGP.
Level 2: Certificate or Diploma
At this level, the average salary becomes 7,030 EGP, 13% more than the previous level.
Level 3: Bachelor's Degree
At this level, the average salary becomes 9,250 EGP, 32% more than the previous level.
Level 4: Master's Degree
At this level, the average salary becomes 11,500 EGP, 24% 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 Egypt costs anywhere from 46,200 EGP to 138,000 EGP 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 and Compensation Comparison By Gender / Financial Applications Specialist / Egypt
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 Applications Specialist in Egypt, the average difference between the salary of male and female employees is 10%.
| Male | 8,480 EGP | |
| Female | -9% | 7,710 EGP |
Salary Comparison By Gender in Egypt for all Careers
Average Annual Salary Increment Percentage / Financial Applications Specialist / Egypt
How much are annual salary increments in Egypt for individuals working as Financial Applications Specialist? How often do employees get salary raises?
Individuals working as Financial Applications Specialist in Egypt are likely to observe a salary increase of approximately 12% every 17 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
Egypt / All Professions
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
Worldwide Salary Raises: All Countries and All Jobs
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 Applications Specialist / Egypt
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/egypt/accounting-and-finance/financial-applications-specialist/annual-salary-bonus-rate-egypt-financial-applications-specialist.jpg
50% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 50% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.
| Received Bonus | 50% | |
| No Bonus | 50% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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: | Example: |
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.
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 Applications Specialist / Egypt
47 EGP per hourThe average hourly wage (pay per hour) for individuals working as Financial Applications Specialist in Egypt is 47 EGP.This is the rate they get paid for every worked hour.
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 Applications Specialist in Egypt is 25 EGP. 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 Title | Average Salary |
| Accounting and Finance |  -100% | |
| Account Examiner | 4,720 EGP | -42% |
| Account Executive | 8,410 EGP |  +3% |
| Accountant | 6,350 EGP | -22% |
| Accounting Analyst | 7,810 EGP | -4% |
| Accounting Assistant | 4,790 EGP | -41% |
| Accounting Associate | 4,650 EGP | -43% |
| Accounting Clerk | 3,850 EGP | -53% |
| Accounting Coordinator | 5,660 EGP | -31% |
| Accounting Head | 13,300 EGP | +63% |
| Accounting Manager | 13,700 EGP | +68% |
| Accounting Officer | 4,550 EGP | -44% |
| Accounting Specialist | 8,870 EGP | +9% |
| Accounting Supervisor | 9,140 EGP | +12% |
| Accounting Technician | 4,430 EGP | -46% |
| Accounting Unit Controller | 10,300 EGP | +26% |
| Accounts Executive | 8,380 EGP | +3% |
| Accounts Officer | 4,950 EGP | -39% |
| Accounts Payable and Receivable Specialist | 6,670 EGP | -18% |
| Accounts Payable Assistant | 5,180 EGP | -37% |
| Accounts Payable Associate | 5,680 EGP | -30% |
| Accounts Payable Clerk | 4,620 EGP | -43% |
| Accounts Payable Manager | 13,100 EGP | +60% |
| Accounts Receivable Administrator | 9,370 EGP | +15% |
| Accounts Receivable Clerk | 4,750 EGP | -42% |
| Accounts Receivable Financial Analyst | 9,280 EGP | +14% |
| Accounts Receivable Manager | 12,000 EGP | +47% |
| Accounts Receivable Team Leader | 9,370 EGP | +15% |
| Algorithmic Trading Specialist | 11,500 EGP | +41% |
| Assistant Accountant | 5,060 EGP | -38% |
| Assistant Accounting Manager | 12,300 EGP | +51% |
| Assistant Auditor | 6,100 EGP | -25% |
| Assistant Corporate Controller | 8,350 EGP | +2% |
| Assistant Finance Manager | 13,500 EGP | +65% |
| Assistant Financial Controller | 8,660 EGP | +6% |
| Audit Director | 15,000 EGP | +84% |
| Audit Supervisor | 11,500 EGP | +41% |
| Auditing Clerk | 4,950 EGP | -39% |
| Auditing Manager | 13,800 EGP | +69% |
| Billing Clerk | 4,890 EGP | -40% |
| Billing Coordinator | 5,630 EGP | -31% |
| Billing Specialist | 6,870 EGP | -16% |
| Billing Supervisor | 10,100 EGP | +24% |
| Bookkeeper | 4,190 EGP | -49% |
| Bookkeeping Specialist | 6,040 EGP | -26% |
| Budget Analyst | 10,600 EGP | +30% |
| Budget Manager | 13,500 EGP | +65% |
| Business Support Analyst | 6,880 EGP | -16% |
| Capital Markets Associate | 9,760 EGP | +19% |
| Cash Flow Analyst | 9,530 EGP | +17% |
| Cash Management Manager | 12,000 EGP | +47% |
| Cash Management Officer | 7,450 EGP | -9% |
| Cashbook Clerk | 4,120 EGP | -50% |
| Chartered Accountant | 7,990 EGP | -2% |
| Chief Accountant | 9,890 EGP | +21% |
| Chief Financial Technology Officer | 13,400 EGP | +64% |
| Collections Clerk | 4,060 EGP | -50% |
| Collections Representative | 5,750 EGP | -30% |
| Collections Specialist | 6,520 EGP | -20% |
| Corporate Controller | 10,000 EGP | +22% |
| Corporate Treasurer | 12,200 EGP | +49% |
| Cost Accountant | 6,480 EGP | -21% |
| Cost Accounting Manager | 12,200 EGP | +49% |
| Cost Accounting Supervisor | 9,950 EGP | +22% |
| Cost Analyst | 10,500 EGP | +28% |
| Credit and Collection Manager | 13,100 EGP | +60% |
| Credit and Collection Staff | 4,890 EGP | -40% |
| Credit and Loans Officer | 4,580 EGP | -44% |
| Credit Controller | 8,620 EGP | +5% |
| Credit Manager | 12,700 EGP | +55% |
| Debt Adviser | 10,900 EGP | +33% |
| Debt Collector | 5,120 EGP | -37% |
| Debtors Clerk | 4,500 EGP | -45% |
| Debtors Controller | 4,550 EGP | -44% |
| Deputy CFO | 16,700 EGP | +100% |
| Deputy Head of Finance | 17,200 EGP | +110% |
| Derivative Trader | 11,400 EGP | +40% |
| Director of Finance | 19,600 EGP | +140% |
| E-commerce Accountant | 6,520 EGP | -20% |
| Economist | 14,200 EGP | +74% |
| Equity Analyst | 11,000 EGP | +35% |
| Escrow Assistant | 5,820 EGP | -29% |
| Executive Accountant | 7,000 EGP | -14% |
| External Auditor | 9,000 EGP | +10% |
| Finance Administrator | 7,680 EGP | -6% |
| Finance Analyst | 11,600 EGP | +42% |
| Finance Associate | 5,520 EGP | -32% |
| Finance Data Analyst | 10,300 EGP | +26% |
| Finance Director | 18,100 EGP | +120% |
| Finance Executive | 13,600 EGP | +66% |
| Finance Licensing Clerk | 4,760 EGP | -42% |
| Finance Licensing Manager | 12,200 EGP | +49% |
| Finance Licensing Specialist | 6,650 EGP | -19% |
| Finance Manager | 18,300 EGP | +120% |
| Finance Officer | 6,090 EGP | -25% |
| Finance President | 19,200 EGP | +130% |
| Finance Relationship Manager | 15,200 EGP | +86% |
| Finance Release Analyst | 7,310 EGP | -11% |
| Finance Specialist | 10,400 EGP | +27% |
| Finance Team Leader | 14,100 EGP | +73% |
| Financial Accountant | 6,100 EGP | -25% |
| Financial Actuary | 10,200 EGP | +25% |
| Financial Administrator | 10,500 EGP | +28% |
| Financial Advisor | 11,000 EGP | +35% |
| Financial Analyst | 11,300 EGP | +38% |
| Financial Applications Specialist | 8,170 EGP | -0% |
| Financial Assistant | 5,080 EGP | -38% |
| Financial Associate | 6,180 EGP | -24% |
| Financial Claims Analyst | 8,140 EGP | -0% |
| Financial Claims Manager | 11,500 EGP | +41% |
| Financial Claims Supervisor | 10,300 EGP | +26% |
| Financial Clerk | 4,660 EGP | -43% |
| Financial Commercial Analyst | 9,380 EGP | +15% |
| Financial Compliance Analyst | 10,200 EGP | +25% |
| Financial Compliance Officer | 9,760 EGP | +19% |
| Financial Consultant | 8,390 EGP | +3% |
| Financial Controller | 9,980 EGP | +22% |
| Financial Coordinator | 5,910 EGP | -28% |
| Financial Customer Service Manager | 11,900 EGP | +46% |
| Financial Data Scientist | 12,200 EGP | +49% |
| Financial Dealer and Broker | 7,010 EGP | -14% |
| Financial Director | 19,300 EGP | +140% |
| Financial Encoder | 5,200 EGP | -36% |
| Financial Manager | 17,800 EGP | +120% |
| Financial Modelling Analyst | 11,400 EGP | +40% |
| Financial Operations Manager | 16,200 EGP | +98% |
| Financial Policy Analyst | 9,720 EGP | +19% |
| Financial Project Manager | 12,700 EGP | +55% |
| Financial Quantitative Analyst | 11,200 EGP | +37% |
| Financial Reporting Consultant | 9,570 EGP | +17% |
| Financial Reporting Manager | 12,000 EGP | +47% |
| Financial Section Head | 12,700 EGP | +55% |
| Financial Services Manager | 15,600 EGP | +91% |
| Financial Services Sales Agent | 6,670 EGP | -18% |
| Financial Technology Consultant | 9,610 EGP | +18% |
| Financial Wellness Coach | 13,400 EGP | +64% |
| FinTech Analyst | 10,800 EGP | +32% |
| Fixed Assets Administrator | 6,630 EGP | -19% |
| Forensic Accountant | 7,680 EGP | -6% |
| Fraud Detection Supervisor | 7,750 EGP | -5% |
| Fraud Prevention Manager | 12,400 EGP | +52% |
| Fund Accountant | 6,180 EGP | -24% |
| Grants Coordinator | 4,790 EGP | -41% |
| Green Finance Analyst | 9,210 EGP | +13% |
| Group Financial Manager | 17,500 EGP | +110% |
| Internal Auditor | 8,280 EGP | +1% |
| Internal Control Adviser | 9,890 EGP | +21% |
| Internal Control Officer | 5,280 EGP | -35% |
| International Tax Director | 15,500 EGP | +90% |
| Inventory Accountant | 6,630 EGP | -19% |
| Investment Advisor | 16,700 EGP | +100% |
| Investment Analyst | 13,100 EGP | +60% |
| Investment Associate | 11,200 EGP | +37% |
| Investment Broker | 10,800 EGP | +32% |
| Investment Fund Manager | 14,300 EGP | +75% |
| Investment Operations Manager | 13,800 EGP | +69% |
| Investment Underwriter | 5,260 EGP | -36% |
| Investor | 8,120 EGP | -1% |
| Investor Relations Manager | 12,200 EGP | +49% |
| KYC Team Leader | 12,100 EGP | +48% |
| Loan Processor | 5,110 EGP | -37% |
| Management Accountant | 7,240 EGP | -11% |
| Management Economist | 14,100 EGP | +73% |
| Paymaster | 5,240 EGP | -36% |
| Payroll Administrator | 8,620 EGP | +5% |
| Payroll Benefits Coordinator | 7,120 EGP | -13% |
| Payroll Billing Manager | 11,400 EGP | +40% |
| Payroll Clerk | 5,500 EGP | -33% |
| Payroll Manager | 11,100 EGP | +36% |
| Payroll Officer | 5,770 EGP | -29% |
| Payroll Specialist | 6,660 EGP | -19% |
| Payroll Supervisor | 8,280 EGP | +1% |
| Pensions Administrator | 6,410 EGP | -22% |
| Personal Financial Advisor | 9,430 EGP | +15% |
| Pricing Analyst | 10,100 EGP | +24% |
| Private Equity Analyst | 11,300 EGP | +38% |
| Project Accountant | 6,660 EGP | -19% |
| Proposal Development Coordinator | 5,390 EGP | -34% |
| Quantitative Trader | 9,170 EGP | +12% |
| Receivables Accountant | 6,100 EGP | -25% |
| Regulatory Accountant | 6,830 EGP | -16% |
| Retirement Plan Analyst | 10,000 EGP | +22% |
| Revenue Management Specialist | 10,000 EGP | +22% |
| Revenue Recognition Analyst | 11,300 EGP | +38% |
| Risk Management Director | 14,900 EGP | +82% |
| Risk Management Supervisor | 13,100 EGP | +60% |
| Staff Accountant | 6,350 EGP | -22% |
| Tax Accountant | 6,240 EGP | -24% |
| Tax Administrator | 7,040 EGP | -14% |
| Tax Advisor | 9,580 EGP | +17% |
| Tax Analyst | 9,230 EGP | +13% |
| Tax Associate | 5,410 EGP | -34% |
| Tax Consultant | 10,300 EGP | +26% |
| Tax Director | 14,400 EGP | +76% |
| Tax Examiner | 6,710 EGP | -18% |
| Tax Manager | 13,000 EGP | +59% |
| Tax Research Manager | 12,600 EGP | +54% |
| Teller | 3,910 EGP | -52% |
| Treasury Accountant | 6,640 EGP | -19% |
| Treasury Analyst | 10,200 EGP | +25% |
| Underwriter | 4,320 EGP | -47% |
| Underwriting Assistant | 4,330 EGP | -47% |
| Vice President of Finance | 17,200 EGP | +110% |
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 Egypt is 6% on average across all career fields.
| Private Sector | 8,930 EGP | |
| Public Sector | +6% | 9,480 EGP |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Financial Applications Specialist in Egypt?
A good and competitive compensation would range anywhere between 7,300 EGP and 8,250 EGP. 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 Applications Specialist in Egypt ranges from 4,410 EGP to 6,110 EGP. 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
