Average Finance Executive Salary in Freetown, Sierra Leone for 2024

In this article, we will look at the average Finance Executive salary for 2024 in Freetown and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Sierra Leonean leone. To keep things simple, we are using the SLL currency code instead of the currency symbol Le.

How Much Does a Finance Executive Make in Freetown?

A Finance Executive working in Freetown will typically earn around 101,878,900 SLL per year, and this can range from the lowest average salary of about 52,918,800 SLL to the highest average salary of 156,000,100 SLL.

Average Annual Salary
101,878,900 SLL
Average Monthly Salary
8,489,908 SLL
Lowest Annual Salary
52,918,800 SLL
Lowest Monthly Salary
4,409,900 SLL
Highest Annual Salary
156,000,100 SLL
Highest Monthly Salary
13,000,008 SLL

These are average salaries for a Finance Executive in Freetown and include benefits such as housing and transport. It's also possible for a Finance Executive to earn more or less than the average salaries shown above.

Finance Executive salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Finance Executive Salaries in Freetown

So we've looked at the average salaries a Finance Executive will earn in Freetown. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Finance Executive can earn between 52,918,800 SLL and 156,000,100 SLL on average in Freetown. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Finance Executive in Freetown is 97,800,200 SLL. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 97,800,200 SLL, and 50% of the population earn more than 97,800,200 SLL.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Finance Executive salary in Freetown, 25% of the population are earning less than 67,798,800 SLL while 75% of the population earn more than 67,798,800 SLL.

75% of the population earn less than 121,199,300 SLL, and 25% of the population earn more than 121,199,300 SLL.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Finance Executive Salary by Experience Level in Freetown

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average finance executive salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Finance Executive in Freetown that has less than two years of experience can expect to earn somewhere in the region of 60,119,800 SLL.
  • 2 - 5 Years Experience. With two to five years of experience the average Finance Executive salary would increase to 80,759,700 SLL.
  • 5 - 10 Years Experience. From five to ten years of experience as a Finance Executive, the average salary would be 104,878,200 SLL.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 127,201,600 SLL.
  • 15 - 20 Years Experience. A Finance Executive with 15 to 20 years of experience can earn an average of 139,199,500 SLL.
  • 20+ Years Experience. For a Finance Executive with more than 20 years, the expected average salary increases to 146,401,200 SLL.

Average Salary by Experience Chart

0-2 Years
60,119,800 SLL
2-5 Years +34%
80,759,700 SLL
5-10 Years +30%
104,878,200 SLL
10-15 Years +21%
127,201,600 SLL
15-20 Years +9%
139,199,500 SLL
20+ Years +5%
146,401,200 SLL

Finance Executive Salary by Education Level in Freetown

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Finance Executive in Freetown based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Certificate or Diploma. A Finance Executive in Freetown with a certificate or diploma education can earn an average salary of 71,521,400 SLL.

  • Bachelor's Degree. A Finance Executive in Freetown with a bachelor's degree education can earn an average salary of 108,478,500 SLL.

  • Master's Degree. A Finance Executive in Freetown with a master's degree education can earn an average salary of 153,600,700 SLL.

Average Salary by Education Chart

Certificate or Diploma
71,521,400 SLL
Bachelor's Degree +52%
108,478,500 SLL
Master's Degree +42%
153,600,700 SLL

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Sierra Leone is around 28,500,000 to 85,500,000 SLL and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Finance Executive Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Freetown, a male finance executive will earn an average of 102,119,600 SLL, while a female finance executive will earn around 90,479,600 SLL.

This means that a male finance executive earns approximately 13% more than a female finance executive for performing the same job.

Average Salary by Gender Chart in Freetown

Male
102,119,600 SLL
Female -13%
90,479,600 SLL

Finance Executive Average Pay Raise in Freetown

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Finance Executive in Freetown is around 8% every 29 months.

The national average pay raise across all professions and industries in Sierra Leone is around 4% every 29 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 8 ÷ 29 ) × 12  = 3%

What this means is that a Finance Executive in Freetown can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Freetown for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Sierra Leone.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Finance Executive Bonus and Incentive Rates in Freetown

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Finance Executive is a low bonus based job, with 36% of employees reporting at least one bonus in the last 12 months.

64% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 5%.

Received Bonus
36%
No Bonus
64%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Sierra Leone earn approximately 14% more than private sector employees in the same role.

Public Sector
71,878,800 SLL
Private Sector -14%
63,000,700 SLL

Salaries for Jobs Similar to a Finance Executive

In the table below, we have salary information for jobs that are similar to a Finance Executive in Freetown.

Job Title Category Salary
Account Examiner Accounting and Finance 33,721,200 SLL
Account Executive Accounting and Finance 59,398,900 SLL
Accountant Accounting and Finance 43,081,400 SLL
Accounting Analyst Accounting and Finance 57,359,300 SLL
Accounting Assistant Accounting and Finance 33,481,400 SLL
Accounting Associate Accounting and Finance 33,841,700 SLL
Accounting Clerk Accounting and Finance 27,721,300 SLL
Accounting Coordinator Accounting and Finance 40,559,300 SLL
Accounting Head Accounting and Finance 93,958,100 SLL
Accounting Manager Accounting and Finance 101,878,900 SLL
Accounting Officer Accounting and Finance 34,441,600 SLL
Accounting Specialist Accounting and Finance 62,638,300 SLL
Accounting Supervisor Accounting and Finance 63,959,400 SLL
Accounting Technician Accounting and Finance 32,758,100 SLL
Accounting Unit Controller Accounting and Finance 77,758,500 SLL
Accounts Executive Accounting and Finance 58,199,900 SLL
Accounts Officer Accounting and Finance 36,001,200 SLL
Accounts Payable and Receivable Specialist Accounting and Finance 46,800,400 SLL
Accounts Payable Assistant Accounting and Finance 37,078,800 SLL
Accounts Payable Associate Accounting and Finance 42,479,000 SLL
Accounts Payable Clerk Accounting and Finance 35,521,100 SLL
Accounts Payable Manager Accounting and Finance 93,838,400 SLL
Accounts Receivable Administrator Accounting and Finance 64,198,300 SLL
Accounts Receivable Clerk Accounting and Finance 35,159,900 SLL
Accounts Receivable Financial Analyst Accounting and Finance 66,598,300 SLL
Accounts Receivable Manager Accounting and Finance 91,439,200 SLL
Accounts Receivable Team Leader Accounting and Finance 65,878,200 SLL
Assistant Accountant Accounting and Finance 34,561,900 SLL
Assistant Accounting Manager Accounting and Finance 89,160,700 SLL
Assistant Auditor Accounting and Finance 43,921,700 SLL
Assistant Corporate Controller Accounting and Finance 59,518,100 SLL
Assistant Finance Manager Accounting and Finance 98,880,700 SLL
Assistant Financial Controller Accounting and Finance 59,878,400 SLL
Audit Director Accounting and Finance 100,561,900 SLL
Audit Supervisor Accounting and Finance 83,759,700 SLL
Auditing Clerk Accounting and Finance 36,001,200 SLL
Auditing Manager Accounting and Finance 93,601,400 SLL
Billing Clerk Accounting and Finance 33,481,400 SLL
Billing Coordinator Accounting and Finance 39,840,400 SLL
Billing Specialist Accounting and Finance 47,038,300 SLL
Billing Supervisor Accounting and Finance 67,681,200 SLL
Bookkeeper Accounting and Finance 29,041,200 SLL
Bookkeeping Specialist Accounting and Finance 44,760,700 SLL
Budget Analyst Accounting and Finance 75,360,300 SLL
Budget Manager Accounting and Finance 89,760,900 SLL
Business Support Analyst Accounting and Finance 49,561,800 SLL
Capital Markets Associate Accounting and Finance 71,999,700 SLL
Cash Flow Analyst Accounting and Finance 72,361,800 SLL
Cash Management Manager Accounting and Finance 94,201,900 SLL
Cash Management Officer Accounting and Finance 54,479,300 SLL
Cashbook Clerk Accounting and Finance 30,240,200 SLL
Chartered Accountant Accounting and Finance 60,239,600 SLL
Chief Accountant Accounting and Finance 66,841,000 SLL
Collections Clerk Accounting and Finance 27,960,400 SLL
Collections Representative Accounting and Finance 38,521,100 SLL
Collections Specialist Accounting and Finance 47,038,300 SLL
Corporate Controller Accounting and Finance 71,280,900 SLL
Corporate Treasurer Accounting and Finance 88,199,100 SLL
Cost Accountant Accounting and Finance 43,921,700 SLL
Cost Accounting Manager Accounting and Finance 91,079,200 SLL
Cost Accounting Supervisor Accounting and Finance 72,240,100 SLL
Cost Analyst Accounting and Finance 72,718,100 SLL
Credit and Collection Manager Accounting and Finance 87,001,300 SLL
Credit and Collection Staff Accounting and Finance 36,121,000 SLL
Credit and Loans Officer Accounting and Finance 32,758,100 SLL
Credit Controller Accounting and Finance 65,519,800 SLL
Credit Manager Accounting and Finance 94,079,900 SLL
Debt Adviser Accounting and Finance 77,519,100 SLL
Debt Collector Accounting and Finance 37,561,000 SLL
Debtors Clerk Accounting and Finance 30,240,200 SLL
Debtors Controller Accounting and Finance 34,441,600 SLL
Deputy CFO Accounting and Finance 130,799,600 SLL
Deputy Head of Finance Accounting and Finance 129,601,700 SLL
Derivative Trader Accounting and Finance 79,679,400 SLL
Director of Finance Accounting and Finance 133,198,700 SLL
Economist Accounting and Finance 106,681,000 SLL
Equity Analyst Accounting and Finance 78,960,300 SLL
Escrow Assistant Accounting and Finance 40,079,600 SLL
Executive Accountant Accounting and Finance 51,119,900 SLL
External Auditor Accounting and Finance 62,760,700 SLL
Finance Administrator Accounting and Finance 51,959,300 SLL
Finance Analyst Accounting and Finance 84,960,400 SLL
Finance Associate Accounting and Finance 38,521,100 SLL
Finance Director Accounting and Finance 129,601,700 SLL
Finance Licensing Clerk Accounting and Finance 34,441,600 SLL
Finance Licensing Manager Accounting and Finance 90,721,000 SLL
Finance Licensing Specialist Accounting and Finance 51,238,900 SLL
Finance Manager Accounting and Finance 122,398,700 SLL
Finance Officer Accounting and Finance 45,361,500 SLL
Finance President Accounting and Finance 133,198,700 SLL
Finance Relationship Manager Accounting and Finance 111,001,800 SLL
Finance Release Analyst Accounting and Finance 50,519,600 SLL
Finance Specialist Accounting and Finance 72,240,100 SLL
Finance Team Leader Accounting and Finance 101,281,000 SLL
Financial Accountant Accounting and Finance 46,199,800 SLL
Financial Actuary Accounting and Finance 72,240,100 SLL
Financial Administrator Accounting and Finance 75,598,300 SLL
Financial Advisor Accounting and Finance 87,118,500 SLL
Financial Analyst Accounting and Finance 81,600,600 SLL
Financial Applications Specialist Accounting and Finance 57,841,700 SLL
Financial Assistant Accounting and Finance 37,078,800 SLL
Financial Associate Accounting and Finance 37,561,000 SLL
Financial Associate Accounting and Finance 45,599,600 SLL
Financial Claims Analyst Accounting and Finance 63,481,200 SLL
Financial Claims Manager Accounting and Finance 83,521,700 SLL
Financial Claims Supervisor Accounting and Finance 77,159,200 SLL
Financial Clerk Accounting and Finance 35,640,500 SLL
Financial Commercial Analyst Accounting and Finance 63,599,700 SLL
Financial Compliance Analyst Accounting and Finance 74,039,800 SLL
Financial Consultant Accounting and Finance 63,241,900 SLL
Financial Controller Accounting and Finance 69,840,500 SLL
Financial Controller Accounting and Finance 72,718,100 SLL
Financial Coordinator Accounting and Finance 41,878,100 SLL
Financial Customer Service Manager Accounting and Finance 82,080,500 SLL
Financial Dealer and Broker Accounting and Finance 49,198,300 SLL
Financial Director Accounting and Finance 135,600,300 SLL
Financial Encoder Accounting and Finance 39,358,400 SLL
Financial Manager Accounting and Finance 122,398,700 SLL
Financial Manager Accounting and Finance 130,799,600 SLL
Financial Operations Manager Accounting and Finance 118,079,000 SLL
Financial Policy Analyst Accounting and Finance 71,521,400 SLL
Financial Project Manager Accounting and Finance 94,561,900 SLL
Financial Quantitative Analyst Accounting and Finance 79,679,400 SLL
Financial Reporting Consultant Accounting and Finance 63,599,700 SLL
Financial Reporting Manager Accounting and Finance 88,199,100 SLL
Financial Section Head Accounting and Finance 90,358,800 SLL
Financial Services Manager Accounting and Finance 118,079,000 SLL
Financial Services Sales Agent Accounting and Finance 50,639,500 SLL
Fixed Assets Administrator Accounting and Finance 48,239,000 SLL
Forensic Accountant Accounting and Finance 56,041,700 SLL
Fraud Detection Supervisor Accounting and Finance 55,081,300 SLL
Fraud Prevention Manager Accounting and Finance 90,721,000 SLL
Fund Accountant Accounting and Finance 42,359,400 SLL
Grants Coordinator Accounting and Finance 34,799,800 SLL
Group Financial Manager Accounting and Finance 129,601,700 SLL
Internal Auditor Accounting and Finance 59,518,100 SLL
Internal Control Adviser Accounting and Finance 70,318,900 SLL
Internal Control Officer Accounting and Finance 38,760,100 SLL
International Tax Director Accounting and Finance 105,478,200 SLL
Inventory Accountant Accounting and Finance 49,438,400 SLL
Investment Advisor Accounting and Finance 117,841,300 SLL
Investment Analyst Accounting and Finance 86,519,600 SLL
Investment Associate Accounting and Finance 79,319,400 SLL
Investment Broker Accounting and Finance 73,081,700 SLL
Investment Fund Manager Accounting and Finance 104,878,200 SLL
Investment Operations Manager Accounting and Finance 106,921,000 SLL
Investment Underwriter Accounting and Finance 39,718,900 SLL
Investor Accounting and Finance 59,758,700 SLL
Investor Relations Manager Accounting and Finance 92,518,400 SLL
KYC Team Leader Accounting and Finance 84,718,900 SLL
Loan Processor Accounting and Finance 36,121,000 SLL
Management Accountant Accounting and Finance 51,719,500 SLL
Management Economist Accounting and Finance 107,161,400 SLL
Paymaster Accounting and Finance 35,521,100 SLL
Payroll Administrator Accounting and Finance 61,919,600 SLL
Payroll Benefits Coordinator Accounting and Finance 52,918,800 SLL
Payroll Billing Manager Accounting and Finance 87,118,500 SLL
Payroll Clerk Accounting and Finance 40,799,600 SLL
Payroll Manager Accounting and Finance 85,081,800 SLL
Payroll Officer Accounting and Finance 41,399,600 SLL
Payroll Specialist Accounting and Finance 49,198,300 SLL
Payroll Supervisor Accounting and Finance 59,040,700 SLL
Pensions Administrator Accounting and Finance 48,721,100 SLL
Personal Financial Advisor Accounting and Finance 70,920,900 SLL
Pricing Analyst Accounting and Finance 77,159,200 SLL
Private Equity Analyst Accounting and Finance 80,158,500 SLL
Project Accountant Accounting and Finance 46,560,900 SLL
Proposal Development Coordinator Accounting and Finance 40,921,600 SLL
Receivables Accountant Accounting and Finance 44,040,700 SLL
Regulatory Accountant Accounting and Finance 49,438,400 SLL
Retirement Plan Analyst Accounting and Finance 71,280,900 SLL
Revenue Management Specialist Accounting and Finance 73,681,000 SLL
Revenue Recognition Analyst Accounting and Finance 87,721,200 SLL
Risk Management Director Accounting and Finance 108,959,200 SLL
Risk Management Supervisor Accounting and Finance 89,281,500 SLL
Staff Accountant Accounting and Finance 45,119,800 SLL
Tax Accountant Accounting and Finance 41,878,100 SLL
Tax Administrator Accounting and Finance 51,479,800 SLL
Tax Advisor Accounting and Finance 72,240,100 SLL
Tax Analyst Accounting and Finance 71,878,800 SLL
Tax Associate Accounting and Finance 37,441,100 SLL
Tax Consultant Accounting and Finance 74,518,900 SLL
Tax Director Accounting and Finance 107,761,600 SLL
Tax Examiner Accounting and Finance 47,280,300 SLL
Tax Manager Accounting and Finance 91,679,200 SLL
Tax Research Manager Accounting and Finance 91,201,900 SLL
Teller Accounting and Finance 26,520,600 SLL
Treasury Accountant Accounting and Finance 47,880,300 SLL
Treasury Analyst Accounting and Finance 77,881,500 SLL
Underwriter Accounting and Finance 32,161,000 SLL
Underwriting Assistant Accounting and Finance 30,001,600 SLL
Vice President of Finance Accounting and Finance 122,398,700 SLL

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