Average Cost Controller Salary in Maldives for 2024

In this article, we will look at the average Cost Controller salary for 2024 in Maldives 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 Maldivian rufiyaa. To keep things simple, we are using the MVR currency code instead of the currency symbol .Þƒ.

How Much Does a Cost Controller Make in Maldives?

A Cost Controller working in Maldives will typically earn around 210,500 MVR per year, and this can range from the lowest average salary of about 102,380 MVR to the highest average salary of 332,100 MVR.

Average Annual Salary
210,500 MVR
Average Monthly Salary
17,541 MVR

Lowest Annual Salary
102,380 MVR
Lowest Monthly Salary
8,531 MVR

Highest Annual Salary
332,100 MVR
Highest Monthly Salary
27,675 MVR

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

Cost Controller 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 Cost Controller Salaries in Maldives

So we've looked at the average salaries a Cost Controller will earn in Maldives. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Cost Controller can earn between 102,380 MVR and 332,100 MVR on average in Maldives. 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 Cost Controller in Maldives is 218,900 MVR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 218,900 MVR, and 50% of the population earn more than 218,900 MVR.

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 Cost Controller salary in Maldives, 25% of the population are earning less than 146,200 MVR while 75% of the population earn more than 146,200 MVR.

75% of the population earn less than 286,400 MVR, and 25% of the population earn more than 286,400 MVR.

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.

Cost Controller Salary by Experience Level in Maldives

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 cost controller 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 Cost Controller in Maldives that has less than two years of experience can expect to earn somewhere in the region of 119,080 MVR.
  • 2 - 5 Years Experience. With two to five years of experience the average Cost Controller salary would increase to 169,000 MVR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Cost Controller, the average salary would be 222,300 MVR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 275,200 MVR.
  • 15 - 20 Years Experience. A Cost Controller with 15 to 20 years of experience can earn an average of 288,700 MVR.
  • 20+ Years Experience. For a Cost Controller with more than 20 years, the expected average salary increases to 318,800 MVR.

Average Salary by Experience Chart

0-2 Years
119,080 MVR
2-5 Years +42%
169,000 MVR
5-10 Years +31%
222,300 MVR
10-15 Years +23%
275,200 MVR
15-20 Years +6%
288,700 MVR
20+ Years +10%
318,800 MVR

Cost Controller Salary by Education Level in Maldives

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 Cost Controller in Maldives 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 Cost Controller in Maldives with a high school education can earn an average salary of 150,000 MVR.

  • Certificate or Diploma. A Cost Controller in Maldives with a certificate or diploma education can earn an average salary of 172,200 MVR.

  • Bachelor's Degree. A Cost Controller in Maldives with a bachelor's degree education can earn an average salary of 251,500 MVR.

  • Master's Degree. A Cost Controller in Maldives with a master's degree education can earn an average salary of 309,800 MVR.

Average Salary by Education Chart

High School
150,000 MVR
Certificate or Diploma +16%
172,200 MVR
Bachelor's Degree +46%
251,500 MVR
Master's Degree +23%
309,800 MVR

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 Maldives is around 95,600 to 287,000 MVR 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.

Cost Controller 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 Maldives, a male cost controller will earn an average of 221,500 MVR, while a female cost controller will earn around 207,800 MVR.

This means that a male cost controller earns approximately 7% more than a female cost controller for performing the same job.

Average Salary by Gender Chart in Maldives

Male
221,500 MVR
Female -7%
207,800 MVR

Cost Controller Average Pay Raise in Maldives

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 Cost Controller in Maldives is around 8% every 28 months.

The national average pay raise across all professions and industries in Maldives 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 ÷ 28 ) × 12  = 3%

What this means is that a Cost Controller in Maldives can expect to receive an average pay raise of around 3% every 12 months.

Annual Pay Raise by Industry in Maldives for 2024

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

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

Banking
5%
Energy
1%
Information Technology
6%
Healthcare
2%
Travel
7%
Construction
3%
Education
8%

Cost Controller Bonus and Incentive Rates in Maldives

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 Cost Controller is a moderate bonus based job, with 64% of employees reporting at least one bonus in the last 12 months.

36% 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 5% to 9%.

Received Bonus
64%
No Bonus
36%

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

Public Sector
237,400 MVR
Private Sector -8%
218,900 MVR

Salaries for Jobs Similar to a Cost Controller

In the table below, we have salary information for jobs that are similar to a Cost Controller in Maldives.

Job Title Category Salary
Assistant Business Development Manager Business Planning 312,400 MVR
Assistant Merchandise Planner Business Planning 176,800 MVR
Business Advisor Business Planning 288,100 MVR
Business Analyst Business Planning 292,000 MVR
Business Consultant Business Planning 294,700 MVR
Business Continuity Associate Business Planning 175,900 MVR
Business Developer Business Planning 187,300 MVR
Business Development Analyst Business Planning 204,000 MVR
Business Development Associate Business Planning 157,600 MVR
Business Development Coordinator Business Planning 152,300 MVR
Business Development Director Business Planning 411,400 MVR
Business Development Engineer Business Planning 237,400 MVR
Business Development Executive Business Planning 286,400 MVR
Business Development Manager Business Planning 353,600 MVR
Business Development Specialist Business Planning 263,900 MVR
Business Manager Business Planning 332,500 MVR
Business Operations Specialist Business Planning 281,500 MVR
Business Process Writer Business Planning 168,100 MVR
Business Systems Analyst Business Planning 294,300 MVR
Capacity Planner Business Planning 204,700 MVR
Capacity Planning Supervisor Business Planning 279,400 MVR
Change Communications Analyst Business Planning 261,300 MVR
Change Control Analyst Business Planning 273,000 MVR
Change Impact Analyst Business Planning 259,100 MVR
Contracts Executive Business Planning 272,800 MVR
Corporate Strategy Analyst Business Planning 275,800 MVR
Cost Control Engineer Business Planning 183,600 MVR
Cost Estimator Business Planning 195,200 MVR
Data Executive Business Planning 143,200 MVR
Data Manager Business Planning 214,000 MVR
Data Processing Manager Business Planning 252,300 MVR
Development Researcher Business Planning 225,700 MVR
Director of Business Development Business Planning 388,100 MVR
Director of Production Planning Business Planning 335,100 MVR
Due Diligence Analyst Business Planning 305,600 MVR
Estimating Manager Business Planning 301,800 MVR
General Manager Business Planning 340,000 MVR
Incident Handler Business Planning 207,800 MVR
Incident Specialist Business Planning 239,000 MVR
Lean Consultant Business Planning 204,000 MVR
Manager Business Planning 385,300 MVR
Marketing and Business Development Manager Business Planning 354,000 MVR
Materials Planner Business Planning 124,400 MVR
Merchandise Assistant Business Planning 125,100 MVR
Merchandise Controller Business Planning 125,700 MVR
Merchandise Planner Business Planning 129,000 MVR
Operations Analyst Business Planning 249,600 MVR
Operations Manager Business Planning 311,700 MVR
Operations Research Analyst Business Planning 172,200 MVR
Planning and Reporting Manager Business Planning 320,500 MVR
Planning Director Business Planning 359,900 MVR
Project Administrator Business Planning 180,500 MVR
Project Manager Business Planning 294,700 MVR
Project Planner Business Planning 185,100 MVR
Research Assistant Business Planning 150,000 MVR
Research Engineer Business Planning 174,000 MVR
Research Officer Business Planning 148,300 MVR
Risk Management Specialist Business Planning 268,900 MVR
Scholarship Coordinator Business Planning 138,800 MVR
Store Planner Business Planning 138,800 MVR
Strategy Director Business Planning 384,500 MVR
Top Research and Development Executive Business Planning 425,100 MVR

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