Average Financial Advisor Salary in Medina, Saudi Arabia for 2024

In this article, we will look at the average Financial Advisor salary for 2024 in Medina 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 Saudi riyal. To keep things simple, we are using the SAR currency code instead of the currency symbol ر.س.

How Much Does a Financial Advisor Make in Medina?

A Financial Advisor working in Medina will typically earn around 249,600 SAR per year, and this can range from the lowest average salary of about 125,700 SAR to the highest average salary of 384,500 SAR.

Average Annual Salary
249,600 SAR
Average Monthly Salary
20,800 SAR
Lowest Annual Salary
125,700 SAR
Lowest Monthly Salary
10,475 SAR
Highest Annual Salary
384,500 SAR
Highest Monthly Salary
32,041 SAR

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

Financial Advisor 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 Financial Advisor Salaries in Medina

So we've looked at the average salaries a Financial Advisor will earn in Medina. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Financial Advisor can earn between 125,700 SAR and 384,500 SAR on average in Medina. 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 Financial Advisor in Medina is 246,200 SAR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 246,200 SAR, and 50% of the population earn more than 246,200 SAR.

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 Financial Advisor salary in Medina, 25% of the population are earning less than 167,100 SAR while 75% of the population earn more than 167,100 SAR.

75% of the population earn less than 308,300 SAR, and 25% of the population earn more than 308,300 SAR.

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.

Financial Advisor Salary by Experience Level in Medina

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 financial advisor 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 Financial Advisor in Medina that has less than two years of experience can expect to earn somewhere in the region of 143,200 SAR.
  • 2 - 5 Years Experience. With two to five years of experience the average Financial Advisor salary would increase to 187,300 SAR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Financial Advisor, the average salary would be 263,200 SAR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 315,700 SAR.
  • 15 - 20 Years Experience. A Financial Advisor with 15 to 20 years of experience can earn an average of 341,400 SAR.
  • 20+ Years Experience. For a Financial Advisor with more than 20 years, the expected average salary increases to 367,200 SAR.

Average Salary by Experience Chart

0-2 Years
143,200 SAR
2-5 Years +31%
187,300 SAR
5-10 Years +40%
263,200 SAR
10-15 Years +20%
315,700 SAR
15-20 Years +9%
341,400 SAR
20+ Years +8%
367,200 SAR

Financial Advisor Salary by Education Level in Medina

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 Financial Advisor in Medina 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 Financial Advisor in Medina with a high school education can earn an average salary of 134,600 SAR.

  • Certificate or Diploma. A Financial Advisor in Medina with a certificate or diploma education can earn an average salary of 159,100 SAR.

  • Bachelor's Degree. A Financial Advisor in Medina with a bachelor's degree education can earn an average salary of 210,500 SAR.

  • Master's Degree. A Financial Advisor in Medina with a master's degree education can earn an average salary of 330,900 SAR.

  • PhD. A Financial Advisor in Medina with a phd education can earn an average salary of 376,800 SAR.

Average Salary by Education Chart

High School
134,600 SAR
Certificate or Diploma +19%
159,100 SAR
Bachelor's Degree +34%
210,500 SAR
Master's Degree +56%
330,900 SAR
PhD +13%
376,800 SAR

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 Saudi Arabia is around 83,500 to 251,000 SAR 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.

Financial Advisor 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 Medina, a male financial advisor will earn an average of 263,900 SAR, while a female financial advisor will earn around 227,600 SAR.

This means that a male financial advisor earns approximately 16% more than a female financial advisor for performing the same job.

Average Salary by Gender Chart in Medina

Male
263,900 SAR
Female -16%
227,600 SAR

Financial Advisor Average Pay Raise in Medina

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 Financial Advisor in Medina is around 12% every 17 months.

The national average pay raise across all professions and industries in Saudi Arabia is around 8% every 17 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 = ( 12 ÷ 17 ) × 12  = 8%

What this means is that a Financial Advisor in Medina can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Medina for 2024

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

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

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Financial Advisor Bonus and Incentive Rates in Medina

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 Financial Advisor is a high bonus based job, with 79% of employees reporting at least one bonus in the last 12 months.

21% 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 6% to 8%.

Received Bonus
79%
No Bonus
21%

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

Public Sector
207,800 SAR
Private Sector -8%
192,600 SAR

Salaries for Jobs Similar to a Financial Advisor

In the table below, we have salary information for jobs that are similar to a Financial Advisor in Medina.

Job Title Category Salary
Account Examiner Accounting and Finance 96,680 SAR
Account Executive Accounting and Finance 180,500 SAR
Accountant Accounting and Finance 125,700 SAR
Accounting Analyst Accounting and Finance 163,800 SAR
Accounting Assistant Accounting and Finance 97,880 SAR
Accounting Associate Accounting and Finance 97,300 SAR
Accounting Clerk Accounting and Finance 82,200 SAR
Accounting Coordinator Accounting and Finance 114,000 SAR
Accounting Head Accounting and Finance 282,500 SAR
Accounting Manager Accounting and Finance 297,000 SAR
Accounting Officer Accounting and Finance 97,840 SAR
Accounting Specialist Accounting and Finance 175,900 SAR
Accounting Supervisor Accounting and Finance 187,500 SAR
Accounting Technician Accounting and Finance 98,820 SAR
Accounting Unit Controller Accounting and Finance 218,900 SAR
Accounts Executive Accounting and Finance 168,100 SAR
Accounts Officer Accounting and Finance 102,460 SAR
Accounts Payable and Receivable Specialist Accounting and Finance 138,800 SAR
Accounts Payable Assistant Accounting and Finance 114,380 SAR
Accounts Payable Associate Accounting and Finance 125,100 SAR
Accounts Payable Clerk Accounting and Finance 103,840 SAR
Accounts Payable Manager Accounting and Finance 273,300 SAR
Accounts Receivable Administrator Accounting and Finance 204,000 SAR
Accounts Receivable Clerk Accounting and Finance 102,240 SAR
Accounts Receivable Financial Analyst Accounting and Finance 191,600 SAR
Accounts Receivable Manager Accounting and Finance 263,900 SAR
Accounts Receivable Team Leader Accounting and Finance 192,000 SAR
Assistant Accountant Accounting and Finance 101,920 SAR
Assistant Accounting Manager Accounting and Finance 245,300 SAR
Assistant Auditor Accounting and Finance 139,100 SAR
Assistant Corporate Controller Accounting and Finance 180,500 SAR
Assistant Finance Manager Accounting and Finance 294,700 SAR
Assistant Financial Controller Accounting and Finance 181,600 SAR
Audit Director Accounting and Finance 313,700 SAR
Audit Supervisor Accounting and Finance 237,400 SAR
Auditing Clerk Accounting and Finance 102,460 SAR
Auditing Manager Accounting and Finance 286,400 SAR
Billing Clerk Accounting and Finance 106,360 SAR
Billing Coordinator Accounting and Finance 125,700 SAR
Billing Specialist Accounting and Finance 146,200 SAR
Billing Supervisor Accounting and Finance 204,000 SAR
Bookkeeper Accounting and Finance 88,620 SAR
Bookkeeping Specialist Accounting and Finance 134,600 SAR
Budget Analyst Accounting and Finance 228,500 SAR
Budget Manager Accounting and Finance 271,300 SAR
Business Support Analyst Accounting and Finance 157,600 SAR
Capital Markets Associate Accounting and Finance 201,100 SAR
Cash Flow Analyst Accounting and Finance 196,800 SAR
Cash Management Manager Accounting and Finance 252,300 SAR
Cash Management Officer Accounting and Finance 159,500 SAR
Cashbook Clerk Accounting and Finance 92,680 SAR
Chartered Accountant Accounting and Finance 175,900 SAR
Chief Accountant Accounting and Finance 204,000 SAR
Collections Clerk Accounting and Finance 86,460 SAR
Collections Representative Accounting and Finance 115,220 SAR
Collections Specialist Accounting and Finance 136,200 SAR
Corporate Controller Accounting and Finance 222,300 SAR
Corporate Treasurer Accounting and Finance 254,800 SAR
Cost Accountant Accounting and Finance 136,100 SAR
Cost Accounting Manager Accounting and Finance 263,100 SAR
Cost Accounting Supervisor Accounting and Finance 207,700 SAR
Cost Analyst Accounting and Finance 208,600 SAR
Credit and Collection Manager Accounting and Finance 263,200 SAR
Credit and Collection Staff Accounting and Finance 104,440 SAR
Credit and Loans Officer Accounting and Finance 95,620 SAR
Credit Controller Accounting and Finance 183,700 SAR
Credit Manager Accounting and Finance 267,100 SAR
Debt Adviser Accounting and Finance 222,300 SAR
Debt Collector Accounting and Finance 109,000 SAR
Debtors Clerk Accounting and Finance 96,220 SAR
Debtors Controller Accounting and Finance 97,840 SAR
Deputy CFO Accounting and Finance 351,900 SAR
Deputy Head of Finance Accounting and Finance 383,300 SAR
Derivative Trader Accounting and Finance 232,900 SAR
Director of Finance Accounting and Finance 386,400 SAR
Economist Accounting and Finance 301,800 SAR
Equity Analyst Accounting and Finance 239,300 SAR
Escrow Assistant Accounting and Finance 127,700 SAR
Executive Accountant Accounting and Finance 150,000 SAR
External Auditor Accounting and Finance 192,600 SAR
Finance Administrator Accounting and Finance 163,800 SAR
Finance Analyst Accounting and Finance 233,900 SAR
Finance Associate Accounting and Finance 123,400 SAR
Finance Director Accounting and Finance 409,000 SAR
Finance Executive Accounting and Finance 288,700 SAR
Finance Licensing Clerk Accounting and Finance 93,880 SAR
Finance Licensing Manager Accounting and Finance 247,800 SAR
Finance Licensing Specialist Accounting and Finance 138,200 SAR
Finance Manager Accounting and Finance 384,500 SAR
Finance Officer Accounting and Finance 125,100 SAR
Finance President Accounting and Finance 394,500 SAR
Finance Relationship Manager Accounting and Finance 317,700 SAR
Finance Release Analyst Accounting and Finance 152,000 SAR
Finance Specialist Accounting and Finance 225,300 SAR
Finance Team Leader Accounting and Finance 290,800 SAR
Financial Accountant Accounting and Finance 130,400 SAR
Financial Actuary Accounting and Finance 200,000 SAR
Financial Administrator Accounting and Finance 225,300 SAR
Financial Analyst Accounting and Finance 253,400 SAR
Financial Applications Specialist Accounting and Finance 161,600 SAR
Financial Assistant Accounting and Finance 104,620 SAR
Financial Associate Accounting and Finance 110,340 SAR
Financial Associate Accounting and Finance 129,000 SAR
Financial Claims Analyst Accounting and Finance 187,500 SAR
Financial Claims Manager Accounting and Finance 245,300 SAR
Financial Claims Supervisor Accounting and Finance 225,300 SAR
Financial Clerk Accounting and Finance 106,160 SAR
Financial Commercial Analyst Accounting and Finance 189,300 SAR
Financial Compliance Analyst Accounting and Finance 208,600 SAR
Financial Consultant Accounting and Finance 187,300 SAR
Financial Controller Accounting and Finance 205,700 SAR
Financial Controller Accounting and Finance 207,800 SAR
Financial Coordinator Accounting and Finance 123,400 SAR
Financial Customer Service Manager Accounting and Finance 258,400 SAR
Financial Dealer and Broker Accounting and Finance 152,000 SAR
Financial Director Accounting and Finance 407,100 SAR
Financial Encoder Accounting and Finance 113,780 SAR
Financial Manager Accounting and Finance 359,900 SAR
Financial Manager Accounting and Finance 372,600 SAR
Financial Operations Manager Accounting and Finance 357,300 SAR
Financial Policy Analyst Accounting and Finance 209,500 SAR
Financial Project Manager Accounting and Finance 273,300 SAR
Financial Quantitative Analyst Accounting and Finance 237,400 SAR
Financial Reporting Consultant Accounting and Finance 205,700 SAR
Financial Reporting Manager Accounting and Finance 261,300 SAR
Financial Section Head Accounting and Finance 249,600 SAR
Financial Services Manager Accounting and Finance 335,800 SAR
Financial Services Sales Agent Accounting and Finance 150,000 SAR
Fixed Assets Administrator Accounting and Finance 146,200 SAR
Forensic Accountant Accounting and Finance 159,500 SAR
Fraud Detection Supervisor Accounting and Finance 172,200 SAR
Fraud Prevention Manager Accounting and Finance 283,400 SAR
Fund Accountant Accounting and Finance 128,900 SAR
Grants Coordinator Accounting and Finance 102,380 SAR
Group Financial Manager Accounting and Finance 367,200 SAR
Internal Auditor Accounting and Finance 181,600 SAR
Internal Control Adviser Accounting and Finance 221,500 SAR
Internal Control Officer Accounting and Finance 119,700 SAR
International Tax Director Accounting and Finance 322,600 SAR
Inventory Accountant Accounting and Finance 136,200 SAR
Investment Advisor Accounting and Finance 365,400 SAR
Investment Analyst Accounting and Finance 266,000 SAR
Investment Associate Accounting and Finance 218,900 SAR
Investment Broker Accounting and Finance 225,700 SAR
Investment Fund Manager Accounting and Finance 288,700 SAR
Investment Operations Manager Accounting and Finance 294,700 SAR
Investment Underwriter Accounting and Finance 111,460 SAR
Investor Accounting and Finance 176,800 SAR
Investor Relations Manager Accounting and Finance 273,300 SAR
KYC Team Leader Accounting and Finance 251,500 SAR
Loan Processor Accounting and Finance 115,380 SAR
Management Accountant Accounting and Finance 152,300 SAR
Management Economist Accounting and Finance 313,700 SAR
Paymaster Accounting and Finance 104,060 SAR
Payroll Administrator Accounting and Finance 187,500 SAR
Payroll Benefits Coordinator Accounting and Finance 154,700 SAR
Payroll Billing Manager Accounting and Finance 254,700 SAR
Payroll Clerk Accounting and Finance 119,900 SAR
Payroll Manager Accounting and Finance 252,300 SAR
Payroll Officer Accounting and Finance 119,700 SAR
Payroll Specialist Accounting and Finance 143,200 SAR
Payroll Supervisor Accounting and Finance 174,000 SAR
Pensions Administrator Accounting and Finance 143,200 SAR
Personal Financial Advisor Accounting and Finance 204,700 SAR
Pricing Analyst Accounting and Finance 228,000 SAR
Private Equity Analyst Accounting and Finance 240,500 SAR
Project Accountant Accounting and Finance 137,400 SAR
Proposal Development Coordinator Accounting and Finance 119,700 SAR
Receivables Accountant Accounting and Finance 119,900 SAR
Regulatory Accountant Accounting and Finance 152,000 SAR
Retirement Plan Analyst Accounting and Finance 222,300 SAR
Revenue Management Specialist Accounting and Finance 228,000 SAR
Revenue Recognition Analyst Accounting and Finance 251,500 SAR
Risk Management Director Accounting and Finance 318,800 SAR
Risk Management Supervisor Accounting and Finance 259,100 SAR
Staff Accountant Accounting and Finance 127,700 SAR
Tax Accountant Accounting and Finance 125,700 SAR
Tax Administrator Accounting and Finance 152,000 SAR
Tax Advisor Accounting and Finance 212,500 SAR
Tax Analyst Accounting and Finance 209,500 SAR
Tax Associate Accounting and Finance 114,380 SAR
Tax Consultant Accounting and Finance 217,900 SAR
Tax Director Accounting and Finance 315,700 SAR
Tax Examiner Accounting and Finance 142,300 SAR
Tax Manager Accounting and Finance 265,000 SAR
Tax Research Manager Accounting and Finance 263,100 SAR
Teller Accounting and Finance 85,080 SAR
Treasury Accountant Accounting and Finance 138,800 SAR
Treasury Analyst Accounting and Finance 225,700 SAR
Underwriter Accounting and Finance 93,340 SAR
Underwriting Assistant Accounting and Finance 84,580 SAR
Vice President of Finance Accounting and Finance 384,200 SAR

Salary Comparison by City

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

City Average Salary
Abha 239,000 SAR
Dammam 261,300 SAR
Jeddah 254,700 SAR
Khubar 246,500 SAR
Mecca 265,000 SAR
Riyadh 271,300 SAR
Tabuk 237,400 SAR
Taif 237,400 SAR

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