Credit Manager Average Salary in Iraq 2024
How much money does a person working as Credit Manager make in Iraq?
LOW
1,780,000
IQD AVERAGE
3,290,000
IQD HIGH
4,970,000
IQD
A person working as Credit Manager in Iraq typically earns around 3,290,000 IQD. Salaries range from 1,780,000 IQD (lowest) to 4,970,000 IQD (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Credit Manager salaries in Iraq vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Credit Manager Pay Scale and Salaries in Iraq
Salary Structure and Pay Scale Comparison
2,930,000 IQD or more
2,620,000 to 2,930,000 IQD
1,950,000 IQD or less
1,950,000 to 2,620,000 IQD
 1,780,000 IQD |
2,940,000 IQD |
4,970,000 IQD |
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 Credit Manager in Iraq range from 1,780,000 IQD (starting salary) to 4,970,000 IQD (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 2,940,000 IQD, half of the professionals who work as Credit Manager in Iraq 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 Credit Manager in Iraq earn less than 2,460,000 IQD, while 75% earn more. Similarly, the chart shows that 75% earn less than 3,320,000 IQD 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 Credit Manager in Iraq compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 1,950,000 IQD to 2,620,000 IQD. About 20% of salaries are below the 1,950,000 IQD mark, while 10% fall within the range of 2,620,000 IQD to 2,930,000 IQD. Only 5% of individuals have salaries exceeding 2,930,000 IQD.
Salary Comparison by Years of Experience / Credit Manager / Iraq
How do experience and age affect pay?
| 0 - 2 Years | 2,060,000 IQD | |
| 2 - 5 Years | +26% | 2,610,000 IQD |
| 5 - 10 Years | +32% | 3,440,000 IQD |
| 10 - 15 Years | +18% | 4,040,000 IQD |
| 15 - 20 Years | +11% | 4,470,000 IQD |
| 20+ Years | +6% | 4,760,000 IQD |
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 Credit Manager and this is what we found.
Employees with less than two years of experience earn approximately 2,060,000 IQD.
While someone with an experience level between two and five years is expected to earn 2,610,000 IQD, 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 3,440,000 IQD, 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 4,040,000 IQD, 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 4,470,000 IQD, 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 4,760,000 IQD, 6% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Credit Manager / Iraq
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Credit Manager.
| Certificate or Diploma | 2,610,000 IQD | |
| Bachelor's Degree | +32% | 3,440,000 IQD |
| Master's Degree | +37% | 4,710,000 IQD |
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 Credit Manager in order to make a comparison.
Level 1: Certificate or Diploma
Employees at this education level have an average salary of 2,610,000 IQD.
Level 2: Bachelor's Degree
At this level, the average salary becomes 3,440,000 IQD, 32% more than the previous level.
Level 3: Master's Degree
At this level, the average salary becomes 4,710,000 IQD, 37% 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 Iraq costs anywhere from 10,300,000 IQD to 30,900,000 IQD 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 / Credit Manager / Iraq
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 Credit Manager in Iraq, the average difference between the salary of male and female employees is 10%.
| Male | 3,420,000 IQD | |
| Female | -9% | 3,100,000 IQD |
Salary Comparison By Gender in Iraq for all Careers
Average Annual Salary Increment Percentage / Credit Manager / Iraq
How much are annual salary increments in Iraq for individuals working as Credit Manager? How often do employees get salary raises?
Individuals working as Credit Manager in Iraq are likely to observe a salary increase of approximately 11% every 21 months. The national average annual increment for all professions combined is 7% granted to employees every 20 months.
Iraq / 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 / Credit Manager / Iraq
How much and how often are bonuses being awarded?
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26% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 74% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.
| Received Bonus | 74% | |
| No Bonus | 26% |
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 / Credit Manager / Iraq
19,000 IQD per hourThe average hourly wage (pay per hour) for individuals working as Credit Manager in Iraq is 19,000 IQD.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 Credit Manager in Iraq is 10,200 IQD. 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 | 1,170,000 IQD | -64% |
| Account Executive | 1,830,000 IQD | -44% |
| Accountant | 1,540,000 IQD | -53% |
| Accounting Analyst | 1,800,000 IQD | -45% |
| Accounting Assistant | 1,210,000 IQD | -63% |
| Accounting Associate | 1,120,000 IQD | -66% |
| Accounting Clerk | 912,000 IQD | -72% |
| Accounting Coordinator | 1,410,000 IQD | -57% |
| Accounting Head | 2,890,000 IQD | -12% |
| Accounting Manager | 3,050,000 IQD | -7% |
| Accounting Officer | 1,090,000 IQD | -67% |
| Accounting Specialist | 2,000,000 IQD | -39% |
| Accounting Supervisor | 2,150,000 IQD | -35% |
| Accounting Technician | 1,040,000 IQD | -68% |
| Accounting Unit Controller | 2,460,000 IQD | -25% |
| Accounts Executive | 2,000,000 IQD | -39% |
| Accounts Officer | 1,160,000 IQD | -65% |
| Accounts Payable and Receivable Specialist | 1,470,000 IQD | -55% |
| Accounts Payable Assistant | 1,240,000 IQD | -62% |
| Accounts Payable Associate | 1,420,000 IQD | -57% |
| Accounts Payable Clerk | 1,070,000 IQD | -67% |
| Accounts Payable Manager | 2,850,000 IQD | -13% |
| Accounts Receivable Administrator | 2,180,000 IQD | -34% |
| Accounts Receivable Clerk | 1,080,000 IQD | -67% |
| Accounts Receivable Financial Analyst | 2,030,000 IQD | -38% |
| Accounts Receivable Manager | 2,830,000 IQD | -14% |
| Accounts Receivable Team Leader | 2,230,000 IQD | -32% |
| Algorithmic Trading Specialist | 2,550,000 IQD | -22% |
| Assistant Accountant | 1,160,000 IQD | -65% |
| Assistant Accounting Manager | 2,750,000 IQD | -16% |
| Assistant Auditor | 1,540,000 IQD | -53% |
| Assistant Corporate Controller | 2,060,000 IQD | -37% |
| Assistant Finance Manager | 3,200,000 IQD | -3% |
| Assistant Financial Controller | 2,060,000 IQD | -37% |
| Audit Director | 3,550,000 IQD |  +8% |
| Audit Supervisor | 2,700,000 IQD | -18% |
| Auditing Clerk | 1,160,000 IQD | -65% |
| Auditing Manager | 3,110,000 IQD | -5% |
| Billing Clerk | 1,140,000 IQD | -65% |
| Billing Coordinator | 1,360,000 IQD | -59% |
| Billing Specialist | 1,540,000 IQD | -53% |
| Billing Supervisor | 2,310,000 IQD | -30% |
| Bookkeeper | 996,000 IQD | -70% |
| Bookkeeping Specialist | 1,420,000 IQD | -57% |
| Budget Analyst | 2,610,000 IQD | -21% |
| Budget Manager | 3,140,000 IQD | -5% |
| Business Support Analyst | 1,740,000 IQD | -47% |
| Capital Markets Associate | 2,350,000 IQD | -29% |
| Cash Flow Analyst | 2,300,000 IQD | -30% |
| Cash Management Manager | 3,020,000 IQD | -8% |
| Cash Management Officer | 1,760,000 IQD | -46% |
| Cashbook Clerk | 981,000 IQD | -70% |
| Chartered Accountant | 1,960,000 IQD | -40% |
| Chief Accountant | 2,220,000 IQD | -33% |
| Chief Financial Technology Officer | 3,200,000 IQD | -3% |
| Collections Clerk | 952,000 IQD | -71% |
| Collections Representative | 1,310,000 IQD | -60% |
| Collections Specialist | 1,590,000 IQD | -52% |
| Corporate Controller | 2,290,000 IQD | -30% |
| Corporate Treasurer | 2,990,000 IQD | -9% |
| Cost Accountant | 1,470,000 IQD | -55% |
| Cost Accounting Manager | 3,110,000 IQD | -5% |
| Cost Accounting Supervisor | 2,470,000 IQD | -25% |
| Cost Analyst | 2,500,000 IQD | -24% |
| Credit and Collection Manager | 3,040,000 IQD | -8% |
| Credit and Collection Staff | 1,110,000 IQD | -66% |
| Credit and Loans Officer | 1,140,000 IQD | -65% |
| Credit Controller | 2,160,000 IQD | -34% |
| Credit Manager | 3,290,000 IQD | +0% |
| Debt Adviser | 2,420,000 IQD | -26% |
| Debt Collector | 1,180,000 IQD | -64% |
| Debtors Clerk | 1,070,000 IQD | -67% |
| Debtors Controller | 1,090,000 IQD | -67% |
| Deputy CFO | 4,190,000 IQD | +27% |
| Deputy Head of Finance | 4,220,000 IQD | +28% |
| Derivative Trader | 2,680,000 IQD | -19% |
| Director of Finance | 4,490,000 IQD | +36% |
| E-commerce Accountant | 1,520,000 IQD | -54% |
| Economist | 3,460,000 IQD | +5% |
| Equity Analyst | 2,670,000 IQD | -19% |
| Escrow Assistant | 1,280,000 IQD | -61% |
| Executive Accountant | 1,710,000 IQD | -48% |
| External Auditor | 2,100,000 IQD | -36% |
| Finance Administrator | 1,790,000 IQD | -46% |
| Finance Analyst | 2,840,000 IQD | -14% |
| Finance Associate | 1,340,000 IQD | -59% |
| Finance Data Analyst | 2,460,000 IQD | -25% |
| Finance Director | 4,550,000 IQD | +38% |
| Finance Executive | 3,180,000 IQD | -3% |
| Finance Licensing Clerk | 1,060,000 IQD | -68% |
| Finance Licensing Manager | 2,820,000 IQD | -14% |
| Finance Licensing Specialist | 1,600,000 IQD | -51% |
| Finance Manager | 4,340,000 IQD | +32% |
| Finance Officer | 1,410,000 IQD | -57% |
| Finance President | 4,310,000 IQD | +31% |
| Finance Relationship Manager | 3,460,000 IQD | +5% |
| Finance Release Analyst | 1,730,000 IQD | -47% |
| Finance Specialist | 2,570,000 IQD | -22% |
| Finance Team Leader | 3,510,000 IQD | +7% |
| Financial Accountant | 1,460,000 IQD | -56% |
| Financial Actuary | 2,400,000 IQD | -27% |
| Financial Administrator | 2,400,000 IQD | -27% |
| Financial Advisor | 2,830,000 IQD | -14% |
| Financial Analyst | 2,690,000 IQD | -18% |
| Financial Applications Specialist | 1,840,000 IQD | -44% |
| Financial Assistant | 1,190,000 IQD | -64% |
| Financial Associate | 1,490,000 IQD | -55% |
| Financial Claims Analyst | 2,080,000 IQD | -37% |
| Financial Claims Manager | 2,760,000 IQD | -16% |
| Financial Claims Supervisor | 2,570,000 IQD | -22% |
| Financial Clerk | 1,140,000 IQD | -65% |
| Financial Commercial Analyst | 2,270,000 IQD | -31% |
| Financial Compliance Analyst | 2,380,000 IQD | -28% |
| Financial Compliance Officer | 2,420,000 IQD | -26% |
| Financial Consultant | 2,060,000 IQD | -37% |
| Financial Controller | 2,510,000 IQD | -24% |
| Financial Coordinator | 1,390,000 IQD | -58% |
| Financial Customer Service Manager | 2,620,000 IQD | -20% |
| Financial Data Scientist | 2,850,000 IQD | -13% |
| Financial Dealer and Broker | 1,610,000 IQD | -51% |
| Financial Director | 4,270,000 IQD | +30% |
| Financial Encoder | 1,250,000 IQD | -62% |
| Financial Manager | 4,010,000 IQD | +22% |
| Financial Modelling Analyst | 2,760,000 IQD | -16% |
| Financial Operations Manager | 3,660,000 IQD | +11% |
| Financial Policy Analyst | 2,330,000 IQD | -29% |
| Financial Project Manager | 3,230,000 IQD | -2% |
| Financial Quantitative Analyst | 2,580,000 IQD | -22% |
| Financial Reporting Consultant | 2,140,000 IQD | -35% |
| Financial Reporting Manager | 2,870,000 IQD | -13% |
| Financial Section Head | 3,000,000 IQD | -9% |
| Financial Services Manager | 3,740,000 IQD | +14% |
| Financial Services Sales Agent | 1,660,000 IQD | -50% |
| Financial Technology Consultant | 2,420,000 IQD | -26% |
| Financial Wellness Coach | 3,170,000 IQD | -4% |
| FinTech Analyst | 2,670,000 IQD | -19% |
| Fixed Assets Administrator | 1,500,000 IQD | -54% |
| Forensic Accountant | 1,750,000 IQD | -47% |
| Fraud Detection Supervisor | 1,770,000 IQD | -46% |
| Fraud Prevention Manager | 2,940,000 IQD | -11% |
| Fund Accountant | 1,380,000 IQD | -58% |
| Grants Coordinator | 1,150,000 IQD | -65% |
| Green Finance Analyst | 2,250,000 IQD | -32% |
| Group Financial Manager | 4,530,000 IQD | +38% |
| Internal Auditor | 2,010,000 IQD | -39% |
| Internal Control Adviser | 2,260,000 IQD | -31% |
| Internal Control Officer | 1,260,000 IQD | -62% |
| International Tax Director | 3,540,000 IQD | +8% |
| Inventory Accountant | 1,540,000 IQD | -53% |
| Investment Advisor | 3,890,000 IQD | +18% |
| Investment Analyst | 2,880,000 IQD | -12% |
| Investment Associate | 2,630,000 IQD | -20% |
| Investment Broker | 2,450,000 IQD | -26% |
| Investment Fund Manager | 3,510,000 IQD | +7% |
| Investment Operations Manager | 3,270,000 IQD | -1% |
| Investment Underwriter | 1,340,000 IQD | -59% |
| Investor | 1,950,000 IQD | -41% |
| Investor Relations Manager | 3,040,000 IQD | -8% |
| KYC Team Leader | 3,050,000 IQD | -7% |
| Loan Processor | 1,240,000 IQD | -62% |
| Management Accountant | 1,670,000 IQD | -49% |
| Management Economist | 3,520,000 IQD | +7% |
| Paymaster | 1,270,000 IQD | -61% |
| Payroll Administrator | 1,950,000 IQD | -41% |
| Payroll Benefits Coordinator | 1,590,000 IQD | -52% |
| Payroll Billing Manager | 2,630,000 IQD | -20% |
| Payroll Clerk | 1,300,000 IQD | -60% |
| Payroll Manager | 2,730,000 IQD | -17% |
| Payroll Officer | 1,260,000 IQD | -62% |
| Payroll Specialist | 1,510,000 IQD | -54% |
| Payroll Supervisor | 1,910,000 IQD | -42% |
| Pensions Administrator | 1,600,000 IQD | -51% |
| Personal Financial Advisor | 2,230,000 IQD | -32% |
| Pricing Analyst | 2,470,000 IQD | -25% |
| Private Equity Analyst | 2,750,000 IQD | -16% |
| Project Accountant | 1,680,000 IQD | -49% |
| Proposal Development Coordinator | 1,340,000 IQD | -59% |
| Quantitative Trader | 2,080,000 IQD | -37% |
| Receivables Accountant | 1,360,000 IQD | -59% |
| Regulatory Accountant | 1,630,000 IQD | -50% |
| Retirement Plan Analyst | 2,290,000 IQD | -30% |
| Revenue Management Specialist | 2,390,000 IQD | -27% |
| Revenue Recognition Analyst | 2,780,000 IQD | -15% |
| Risk Management Director | 3,640,000 IQD | +11% |
| Risk Management Supervisor | 3,000,000 IQD | -9% |
| Staff Accountant | 1,500,000 IQD | -54% |
| Tax Accountant | 1,430,000 IQD | -57% |
| Tax Administrator | 1,660,000 IQD | -50% |
| Tax Advisor | 2,350,000 IQD | -29% |
| Tax Analyst | 2,360,000 IQD | -28% |
| Tax Associate | 1,290,000 IQD | -61% |
| Tax Consultant | 2,470,000 IQD | -25% |
| Tax Director | 3,600,000 IQD | +9% |
| Tax Examiner | 1,660,000 IQD | -50% |
| Tax Manager | 3,110,000 IQD | -5% |
| Tax Research Manager | 3,120,000 IQD | -5% |
| Teller | 912,000 IQD | -72% |
| Treasury Accountant | 1,570,000 IQD | -52% |
| Treasury Analyst | 2,410,000 IQD | -27% |
| Underwriter | 1,100,000 IQD | -67% |
| Underwriting Assistant | 1,030,000 IQD | -69% |
| Vice President of Finance | 3,940,000 IQD | +20% |
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 Iraq is 15% on average across all career fields.
| Private Sector | 1,920,000 IQD | |
| Public Sector | +15% | 2,200,000 IQD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Credit Manager in Iraq?
A good and competitive compensation would range anywhere between 2,940,000 IQD and 3,320,000 IQD. 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 Credit Manager in Iraq ranges from 1,780,000 IQD to 2,460,000 IQD. 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
