Average Finance Specialist Salary in Dresden, Germany for 2024

In this article, we will look at the average Finance Specialist salary for 2024 in Dresden 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 Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol €.

How Much Does a Finance Specialist Make in Dresden?

A Finance Specialist working in Dresden will typically earn around 46,160 EUR per year, and this can range from the lowest average salary of about 23,260 EUR to the highest average salary of 69,540 EUR.

Average Annual Salary
46,160 EUR
Average Monthly Salary
3,846 EUR
Lowest Annual Salary
23,260 EUR
Lowest Monthly Salary
1,938 EUR
Highest Annual Salary
69,540 EUR
Highest Monthly Salary
5,795 EUR

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

Finance Specialist 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 Specialist Salaries in Dresden

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

Salary ranges

We already know that a Finance Specialist can earn between 23,260 EUR and 69,540 EUR on average in Dresden. 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 Specialist in Dresden is 44,800 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 44,800 EUR, and 50% of the population earn more than 44,800 EUR.

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 Specialist salary in Dresden, 25% of the population are earning less than 31,660 EUR while 75% of the population earn more than 31,660 EUR.

75% of the population earn less than 53,660 EUR, and 25% of the population earn more than 53,660 EUR.

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 Specialist Salary by Experience Level in Dresden

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 specialist 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 Specialist in Dresden that has less than two years of experience can expect to earn somewhere in the region of 28,660 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Finance Specialist salary would increase to 33,520 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Finance Specialist, the average salary would be 48,920 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 57,080 EUR.
  • 15 - 20 Years Experience. A Finance Specialist with 15 to 20 years of experience can earn an average of 61,620 EUR.
  • 20+ Years Experience. For a Finance Specialist with more than 20 years, the expected average salary increases to 66,440 EUR.

Average Salary by Experience Chart

0-2 Years
28,660 EUR
2-5 Years +23%
33,520 EUR
5-10 Years +42%
48,920 EUR
10-15 Years +17%
57,080 EUR
15-20 Years +10%
61,620 EUR
20+ Years +6%
66,440 EUR

Finance Specialist Salary by Education Level in Dresden

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 Specialist in Dresden based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Finance Specialist in Dresden with a high school education can earn an average salary of 35,560 EUR.

  • Certificate or Diploma. A Finance Specialist in Dresden with a certificate or diploma education can earn an average salary of 37,800 EUR.

  • Bachelor's Degree. A Finance Specialist in Dresden with a bachelor's degree education can earn an average salary of 51,080 EUR.

  • Master's Degree. A Finance Specialist in Dresden with a master's degree education can earn an average salary of 66,440 EUR.

Average Salary by Education Chart

High School
35,560 EUR
Certificate or Diploma +13%
37,800 EUR
Bachelor's Degree +31%
51,080 EUR
Master's Degree +32%
66,440 EUR

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 Germany is around 19,100 to 57,200 EUR 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 Specialist 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 Dresden, a male finance specialist will earn an average of 52,820 EUR, while a female finance specialist will earn around 49,020 EUR.

This means that a male finance specialist earns approximately 8% more than a female finance specialist for performing the same job.

Average Salary by Gender Chart in Dresden

Male
52,820 EUR
Female -8%
49,020 EUR

Finance Specialist Average Pay Raise in Dresden

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 Specialist in Dresden is around 11% every 16 months.

The national average pay raise across all professions and industries in Germany is around 8% every 16 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 = ( 11 ÷ 16 ) × 12  = 8%

What this means is that a Finance Specialist in Dresden can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Dresden for 2024

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

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

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

Finance Specialist Bonus and Incentive Rates in Dresden

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 Specialist is a moderate bonus based job, with 61% of employees reporting at least one bonus in the last 12 months.

39% 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 2% to 7%.

Received Bonus
61%
No Bonus
39%

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 Germany earn approximately 8% more than private sector employees in the same role.

Public Sector
48,200 EUR
Private Sector -8%
44,540 EUR

Salaries for Jobs Similar to a Finance Specialist

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

Job Title Category Salary
Account Examiner Accounting and Finance 25,220 EUR
Account Executive Accounting and Finance 40,140 EUR
Accountant Accounting and Finance 30,700 EUR
Accounting Analyst Accounting and Finance 39,080 EUR
Accounting Assistant Accounting and Finance 24,840 EUR
Accounting Associate Accounting and Finance 19,980 EUR
Accounting Clerk Accounting and Finance 17,740 EUR
Accounting Coordinator Accounting and Finance 27,020 EUR
Accounting Head Accounting and Finance 62,100 EUR
Accounting Manager Accounting and Finance 69,240 EUR
Accounting Officer Accounting and Finance 24,840 EUR
Accounting Specialist Accounting and Finance 42,400 EUR
Accounting Supervisor Accounting and Finance 43,080 EUR
Accounting Technician Accounting and Finance 21,640 EUR
Accounting Unit Controller Accounting and Finance 50,180 EUR
Accounts Executive Accounting and Finance 39,640 EUR
Accounts Officer Accounting and Finance 23,500 EUR
Accounts Payable and Receivable Specialist Accounting and Finance 34,080 EUR
Accounts Payable Assistant Accounting and Finance 27,040 EUR
Accounts Payable Associate Accounting and Finance 30,800 EUR
Accounts Payable Clerk Accounting and Finance 23,500 EUR
Accounts Payable Manager Accounting and Finance 60,160 EUR
Accounts Receivable Administrator Accounting and Finance 48,160 EUR
Accounts Receivable Clerk Accounting and Finance 22,540 EUR
Accounts Receivable Financial Analyst Accounting and Finance 44,800 EUR
Accounts Receivable Manager Accounting and Finance 57,320 EUR
Accounts Receivable Team Leader Accounting and Finance 46,980 EUR
Assistant Accountant Accounting and Finance 25,940 EUR
Assistant Accounting Manager Accounting and Finance 55,020 EUR
Assistant Auditor Accounting and Finance 31,520 EUR
Assistant Corporate Controller Accounting and Finance 41,560 EUR
Assistant Finance Manager Accounting and Finance 64,920 EUR
Assistant Financial Controller Accounting and Finance 44,300 EUR
Audit Director Accounting and Finance 74,620 EUR
Audit Supervisor Accounting and Finance 52,880 EUR
Auditing Clerk Accounting and Finance 23,500 EUR
Auditing Manager Accounting and Finance 64,300 EUR
Billing Clerk Accounting and Finance 23,360 EUR
Billing Coordinator Accounting and Finance 27,480 EUR
Billing Specialist Accounting and Finance 34,960 EUR
Billing Supervisor Accounting and Finance 48,640 EUR
Bookkeeper Accounting and Finance 20,940 EUR
Bookkeeping Specialist Accounting and Finance 30,840 EUR
Budget Analyst Accounting and Finance 51,120 EUR
Budget Manager Accounting and Finance 61,840 EUR
Business Support Analyst Accounting and Finance 36,800 EUR
Capital Markets Associate Accounting and Finance 43,800 EUR
Cash Flow Analyst Accounting and Finance 44,720 EUR
Cash Management Manager Accounting and Finance 61,760 EUR
Cash Management Officer Accounting and Finance 37,620 EUR
Cashbook Clerk Accounting and Finance 21,100 EUR
Chartered Accountant Accounting and Finance 40,560 EUR
Chief Accountant Accounting and Finance 44,780 EUR
Collections Clerk Accounting and Finance 18,900 EUR
Collections Representative Accounting and Finance 29,540 EUR
Collections Specialist Accounting and Finance 31,180 EUR
Corporate Controller Accounting and Finance 48,920 EUR
Corporate Treasurer Accounting and Finance 58,000 EUR
Cost Accountant Accounting and Finance 31,380 EUR
Cost Accounting Manager Accounting and Finance 60,180 EUR
Cost Accounting Supervisor Accounting and Finance 49,200 EUR
Cost Analyst Accounting and Finance 45,720 EUR
Credit and Collection Manager Accounting and Finance 58,720 EUR
Credit and Collection Staff Accounting and Finance 22,660 EUR
Credit and Loans Officer Accounting and Finance 23,500 EUR
Credit Controller Accounting and Finance 42,320 EUR
Credit Manager Accounting and Finance 64,620 EUR
Debt Adviser Accounting and Finance 53,380 EUR
Debt Collector Accounting and Finance 24,860 EUR
Debtors Clerk Accounting and Finance 23,380 EUR
Debtors Controller Accounting and Finance 24,840 EUR
Deputy CFO Accounting and Finance 86,640 EUR
Deputy Head of Finance Accounting and Finance 83,100 EUR
Derivative Trader Accounting and Finance 52,880 EUR
Director of Finance Accounting and Finance 94,940 EUR
Economist Accounting and Finance 77,400 EUR
Equity Analyst Accounting and Finance 57,800 EUR
Escrow Assistant Accounting and Finance 29,540 EUR
Executive Accountant Accounting and Finance 35,500 EUR
External Auditor Accounting and Finance 40,600 EUR
Finance Administrator Accounting and Finance 36,160 EUR
Finance Analyst Accounting and Finance 57,900 EUR
Finance Associate Accounting and Finance 25,160 EUR
Finance Director Accounting and Finance 95,420 EUR
Finance Executive Accounting and Finance 64,720 EUR
Finance Licensing Clerk Accounting and Finance 21,560 EUR
Finance Licensing Manager Accounting and Finance 60,920 EUR
Finance Licensing Specialist Accounting and Finance 34,480 EUR
Finance Manager Accounting and Finance 87,940 EUR
Finance Officer Accounting and Finance 30,220 EUR
Finance President Accounting and Finance 89,120 EUR
Finance Relationship Manager Accounting and Finance 73,820 EUR
Finance Release Analyst Accounting and Finance 34,380 EUR
Finance Team Leader Accounting and Finance 70,840 EUR
Financial Accountant Accounting and Finance 29,160 EUR
Financial Actuary Accounting and Finance 50,580 EUR
Financial Administrator Accounting and Finance 52,180 EUR
Financial Advisor Accounting and Finance 55,320 EUR
Financial Analyst Accounting and Finance 55,580 EUR
Financial Applications Specialist Accounting and Finance 38,060 EUR
Financial Assistant Accounting and Finance 25,220 EUR
Financial Associate Accounting and Finance 22,400 EUR
Financial Associate Accounting and Finance 27,020 EUR
Financial Claims Analyst Accounting and Finance 42,320 EUR
Financial Claims Manager Accounting and Finance 53,840 EUR
Financial Claims Supervisor Accounting and Finance 51,900 EUR
Financial Clerk Accounting and Finance 21,980 EUR
Financial Commercial Analyst Accounting and Finance 45,600 EUR
Financial Compliance Analyst Accounting and Finance 47,720 EUR
Financial Consultant Accounting and Finance 41,180 EUR
Financial Controller Accounting and Finance 47,400 EUR
Financial Controller Accounting and Finance 52,180 EUR
Financial Coordinator Accounting and Finance 28,660 EUR
Financial Customer Service Manager Accounting and Finance 57,900 EUR
Financial Dealer and Broker Accounting and Finance 35,340 EUR
Financial Director Accounting and Finance 94,800 EUR
Financial Encoder Accounting and Finance 27,300 EUR
Financial Manager Accounting and Finance 83,400 EUR
Financial Manager Accounting and Finance 87,760 EUR
Financial Operations Manager Accounting and Finance 76,540 EUR
Financial Policy Analyst Accounting and Finance 50,580 EUR
Financial Project Manager Accounting and Finance 62,460 EUR
Financial Quantitative Analyst Accounting and Finance 56,140 EUR
Financial Reporting Consultant Accounting and Finance 44,140 EUR
Financial Reporting Manager Accounting and Finance 60,180 EUR
Financial Section Head Accounting and Finance 60,840 EUR
Financial Services Manager Accounting and Finance 78,480 EUR
Financial Services Sales Agent Accounting and Finance 33,520 EUR
Fixed Assets Administrator Accounting and Finance 29,160 EUR
Forensic Accountant Accounting and Finance 36,020 EUR
Fraud Detection Supervisor Accounting and Finance 37,380 EUR
Fraud Prevention Manager Accounting and Finance 62,100 EUR
Fund Accountant Accounting and Finance 31,380 EUR
Grants Coordinator Accounting and Finance 23,380 EUR
Group Financial Manager Accounting and Finance 92,400 EUR
Internal Auditor Accounting and Finance 44,140 EUR
Internal Control Adviser Accounting and Finance 47,720 EUR
Internal Control Officer Accounting and Finance 25,160 EUR
International Tax Director Accounting and Finance 73,020 EUR
Inventory Accountant Accounting and Finance 34,160 EUR
Investment Advisor Accounting and Finance 84,740 EUR
Investment Analyst Accounting and Finance 62,420 EUR
Investment Associate Accounting and Finance 54,180 EUR
Investment Broker Accounting and Finance 51,400 EUR
Investment Fund Manager Accounting and Finance 71,020 EUR
Investment Operations Manager Accounting and Finance 65,920 EUR
Investment Underwriter Accounting and Finance 26,080 EUR
Investor Accounting and Finance 40,040 EUR
Investor Relations Manager Accounting and Finance 62,460 EUR
KYC Team Leader Accounting and Finance 59,000 EUR
Loan Processor Accounting and Finance 25,720 EUR
Management Accountant Accounting and Finance 35,000 EUR
Management Economist Accounting and Finance 72,700 EUR
Paymaster Accounting and Finance 26,020 EUR
Payroll Administrator Accounting and Finance 38,780 EUR
Payroll Benefits Coordinator Accounting and Finance 37,200 EUR
Payroll Billing Manager Accounting and Finance 59,380 EUR
Payroll Clerk Accounting and Finance 27,300 EUR
Payroll Manager Accounting and Finance 53,160 EUR
Payroll Officer Accounting and Finance 26,780 EUR
Payroll Specialist Accounting and Finance 31,340 EUR
Payroll Supervisor Accounting and Finance 42,460 EUR
Pensions Administrator Accounting and Finance 32,900 EUR
Personal Financial Advisor Accounting and Finance 47,540 EUR
Pricing Analyst Accounting and Finance 49,820 EUR
Private Equity Analyst Accounting and Finance 55,220 EUR
Project Accountant Accounting and Finance 33,120 EUR
Proposal Development Coordinator Accounting and Finance 27,620 EUR
Receivables Accountant Accounting and Finance 26,660 EUR
Regulatory Accountant Accounting and Finance 34,480 EUR
Retirement Plan Analyst Accounting and Finance 48,920 EUR
Revenue Management Specialist Accounting and Finance 50,080 EUR
Revenue Recognition Analyst Accounting and Finance 55,320 EUR
Risk Management Director Accounting and Finance 71,660 EUR
Risk Management Supervisor Accounting and Finance 64,560 EUR
Staff Accountant Accounting and Finance 30,220 EUR
Tax Accountant Accounting and Finance 32,020 EUR
Tax Administrator Accounting and Finance 34,480 EUR
Tax Advisor Accounting and Finance 45,580 EUR
Tax Analyst Accounting and Finance 47,120 EUR
Tax Associate Accounting and Finance 25,440 EUR
Tax Consultant Accounting and Finance 45,580 EUR
Tax Director Accounting and Finance 72,740 EUR
Tax Examiner Accounting and Finance 34,540 EUR
Tax Manager Accounting and Finance 66,820 EUR
Tax Research Manager Accounting and Finance 64,720 EUR
Teller Accounting and Finance 19,640 EUR
Treasury Accountant Accounting and Finance 30,700 EUR
Treasury Analyst Accounting and Finance 49,300 EUR
Underwriter Accounting and Finance 21,560 EUR
Underwriting Assistant Accounting and Finance 19,480 EUR
Vice President of Finance Accounting and Finance 85,080 EUR

Salary Comparison by City

If you want to compare salaries with different cities in Germany, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Berlin 54,500 EUR
Bremen 50,020 EUR
Dortmund 50,020 EUR
Dusseldorf 56,100 EUR
Essen 50,020 EUR
Frankfurt 52,300 EUR
Hamburg 59,000 EUR
Hannover 43,340 EUR
Koln 56,640 EUR
Leipzig 48,640 EUR
Munchen 56,060 EUR
Nurnberg 46,980 EUR
Stuttgart 50,020 EUR

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