Average Credit and Collection Manager Salary in Libya for 2024

In this article, we will look at the average Credit and Collection Manager salary for 2024 in Libya 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 Libyan dinar. To keep things simple, we are using the LYD currency code instead of the currency symbol ู„.ุฏ.

How Much Does a Credit and Collection Manager Make in Libya?

A Credit and Collection Manager working in Libya will typically earn around 40,420 LYD per year, and this can range from the lowest average salary of about 19,060 LYD to the highest average salary of 58,000 LYD.

Average Annual Salary
40,420 LYD
Average Monthly Salary
3,368 LYD

Lowest Annual Salary
19,060 LYD
Lowest Monthly Salary
1,588 LYD

Highest Annual Salary
58,000 LYD
Highest Monthly Salary
4,833 LYD

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

Credit and Collection Manager 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 Credit and Collection Manager Salaries in Libya

So we've looked at the average salaries a Credit and Collection Manager will earn in Libya. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Credit and Collection Manager can earn between 19,060 LYD and 58,000 LYD on average in Libya. 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 Credit and Collection Manager in Libya is 36,020 LYD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 36,020 LYD, and 50% of the population earn more than 36,020 LYD.

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 Credit and Collection Manager salary in Libya, 25% of the population are earning less than 24,720 LYD while 75% of the population earn more than 24,720 LYD.

75% of the population earn less than 46,840 LYD, and 25% of the population earn more than 46,840 LYD.

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.

Credit and Collection Manager Salary by Experience Level in Libya

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 credit and collection manager 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 Credit and Collection Manager in Libya that has less than two years of experience can expect to earn somewhere in the region of 23,660 LYD.
  • 2 - 5 Years Experience. With two to five years of experience the average Credit and Collection Manager salary would increase to 27,480 LYD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Credit and Collection Manager, the average salary would be 42,400 LYD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 49,360 LYD.
  • 15 - 20 Years Experience. A Credit and Collection Manager with 15 to 20 years of experience can earn an average of 53,380 LYD.
  • 20+ Years Experience. For a Credit and Collection Manager with more than 20 years, the expected average salary increases to 55,580 LYD.

Average Salary by Experience Chart

0-2 Years
23,660 LYD
2-5 Years +23%
27,480 LYD
5-10 Years +42%
42,400 LYD
10-15 Years +17%
49,360 LYD
15-20 Years +10%
53,380 LYD
20+ Years +6%
55,580 LYD

Credit and Collection Manager Salary by Education Level in Libya

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 Credit and Collection Manager in Libya 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 Credit and Collection Manager in Libya with a certificate or diploma education can earn an average salary of 27,480 LYD.

  • Bachelor's Degree. A Credit and Collection Manager in Libya with a bachelor's degree education can earn an average salary of 36,700 LYD.

  • Master's Degree. A Credit and Collection Manager in Libya with a master's degree education can earn an average salary of 52,300 LYD.

Average Salary by Education Chart

Certificate or Diploma
27,480 LYD
Bachelor's Degree +29%
36,700 LYD
Master's Degree +43%
52,300 LYD

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 Libya is around 11,400 to 34,300 LYD 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.

Credit and Collection Manager 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 Libya, a male credit and collection manager will earn an average of 42,400 LYD, while a female credit and collection manager will earn around 37,200 LYD.

This means that a male credit and collection manager earns approximately 14% more than a female credit and collection manager for performing the same job.

Average Salary by Gender Chart in Libya

Male
42,400 LYD
Female -14%
37,200 LYD

Credit and Collection Manager Average Pay Raise in Libya

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 Credit and Collection Manager in Libya is around 9% every 28 months.

The national average pay raise across all professions and industries in Libya is around 5% every 28 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 = ( 9 ÷ 28 ) × 12  = 4%

What this means is that a Credit and Collection Manager in Libya can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Libya for 2024

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

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%

Credit and Collection Manager Bonus and Incentive Rates in Libya

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 Credit and Collection Manager is a moderate bonus based job, with 60% of employees reporting at least one bonus in the last 12 months.

40% 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
60%
No Bonus
40%

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 Libya earn approximately 5% more than private sector employees in the same role.

Public Sector
28,720 LYD
Private Sector -5%
27,300 LYD

Salaries for Jobs Similar to a Credit and Collection Manager

In the table below, we have salary information for jobs that are similar to a Credit and Collection Manager in Libya.

Job Title Category Salary
Account Examiner Accounting and Finance 12,240 LYD
Account Executive Accounting and Finance 24,200 LYD
Accountant Accounting and Finance 18,940 LYD
Accounting Analyst Accounting and Finance 23,080 LYD
Accounting Assistant Accounting and Finance 17,100 LYD
Accounting Associate Accounting and Finance 14,840 LYD
Accounting Clerk Accounting and Finance 12,200 LYD
Accounting Coordinator Accounting and Finance 15,300 LYD
Accounting Head Accounting and Finance 41,900 LYD
Accounting Manager Accounting and Finance 41,900 LYD
Accounting Officer Accounting and Finance 17,020 LYD
Accounting Specialist Accounting and Finance 26,400 LYD
Accounting Supervisor Accounting and Finance 27,300 LYD
Accounting Technician Accounting and Finance 14,620 LYD
Accounting Unit Controller Accounting and Finance 34,480 LYD
Accounts Executive Accounting and Finance 27,040 LYD
Accounts Officer Accounting and Finance 17,020 LYD
Accounts Payable and Receivable Specialist Accounting and Finance 20,520 LYD
Accounts Payable Assistant Accounting and Finance 17,540 LYD
Accounts Payable Associate Accounting and Finance 17,740 LYD
Accounts Payable Clerk Accounting and Finance 14,840 LYD
Accounts Payable Manager Accounting and Finance 38,620 LYD
Accounts Receivable Administrator Accounting and Finance 27,480 LYD
Accounts Receivable Clerk Accounting and Finance 14,540 LYD
Accounts Receivable Financial Analyst Accounting and Finance 26,400 LYD
Accounts Receivable Manager Accounting and Finance 38,140 LYD
Accounts Receivable Team Leader Accounting and Finance 32,020 LYD
Assistant Accountant Accounting and Finance 17,260 LYD
Assistant Accounting Manager Accounting and Finance 35,000 LYD
Assistant Auditor Accounting and Finance 19,380 LYD
Assistant Corporate Controller Accounting and Finance 27,040 LYD
Assistant Finance Manager Accounting and Finance 40,560 LYD
Assistant Financial Controller Accounting and Finance 26,280 LYD
Audit Director Accounting and Finance 45,720 LYD
Audit Supervisor Accounting and Finance 36,940 LYD
Auditing Clerk Accounting and Finance 17,020 LYD
Auditing Manager Accounting and Finance 37,880 LYD
Billing Clerk Accounting and Finance 15,880 LYD
Billing Coordinator Accounting and Finance 19,640 LYD
Billing Specialist Accounting and Finance 19,380 LYD
Billing Supervisor Accounting and Finance 29,160 LYD
Bookkeeper Accounting and Finance 13,960 LYD
Bookkeeping Specialist Accounting and Finance 19,640 LYD
Budget Analyst Accounting and Finance 31,980 LYD
Budget Manager Accounting and Finance 39,420 LYD
Business Support Analyst Accounting and Finance 21,300 LYD
Capital Markets Associate Accounting and Finance 29,640 LYD
Cash Flow Analyst Accounting and Finance 32,020 LYD
Cash Management Manager Accounting and Finance 42,040 LYD
Cash Management Officer Accounting and Finance 23,520 LYD
Cashbook Clerk Accounting and Finance 12,240 LYD
Chartered Accountant Accounting and Finance 24,800 LYD
Chief Accountant Accounting and Finance 26,400 LYD
Collections Clerk Accounting and Finance 12,180 LYD
Collections Representative Accounting and Finance 16,140 LYD
Collections Specialist Accounting and Finance 20,520 LYD
Corporate Controller Accounting and Finance 32,960 LYD
Corporate Treasurer Accounting and Finance 35,420 LYD
Cost Accountant Accounting and Finance 21,020 LYD
Cost Accounting Manager Accounting and Finance 38,620 LYD
Cost Accounting Supervisor Accounting and Finance 31,400 LYD
Cost Analyst Accounting and Finance 31,520 LYD
Credit and Collection Staff Accounting and Finance 14,820 LYD
Credit and Loans Officer Accounting and Finance 11,880 LYD
Credit Controller Accounting and Finance 28,720 LYD
Credit Manager Accounting and Finance 41,700 LYD
Debt Adviser Accounting and Finance 32,960 LYD
Debt Collector Accounting and Finance 16,880 LYD
Debtors Clerk Accounting and Finance 12,580 LYD
Debtors Controller Accounting and Finance 17,020 LYD
Deputy CFO Accounting and Finance 55,840 LYD
Deputy Head of Finance Accounting and Finance 53,840 LYD
Derivative Trader Accounting and Finance 31,980 LYD
Director of Finance Accounting and Finance 58,280 LYD
Economist Accounting and Finance 47,540 LYD
Equity Analyst Accounting and Finance 34,360 LYD
Escrow Assistant Accounting and Finance 16,140 LYD
Executive Accountant Accounting and Finance 23,380 LYD
External Auditor Accounting and Finance 28,820 LYD
Finance Administrator Accounting and Finance 21,980 LYD
Finance Analyst Accounting and Finance 36,940 LYD
Finance Associate Accounting and Finance 18,780 LYD
Finance Director Accounting and Finance 61,180 LYD
Finance Executive Accounting and Finance 42,460 LYD
Finance Licensing Clerk Accounting and Finance 12,620 LYD
Finance Licensing Manager Accounting and Finance 37,380 LYD
Finance Licensing Specialist Accounting and Finance 19,940 LYD
Finance Manager Accounting and Finance 59,480 LYD
Finance Officer Accounting and Finance 17,740 LYD
Finance President Accounting and Finance 54,500 LYD
Finance Relationship Manager Accounting and Finance 45,580 LYD
Finance Release Analyst Accounting and Finance 23,660 LYD
Finance Specialist Accounting and Finance 32,200 LYD
Finance Team Leader Accounting and Finance 42,320 LYD
Financial Accountant Accounting and Finance 19,380 LYD
Financial Actuary Accounting and Finance 27,020 LYD
Financial Administrator Accounting and Finance 31,520 LYD
Financial Advisor Accounting and Finance 35,340 LYD
Financial Analyst Accounting and Finance 38,260 LYD
Financial Applications Specialist Accounting and Finance 24,720 LYD
Financial Assistant Accounting and Finance 15,580 LYD
Financial Associate Accounting and Finance 14,820 LYD
Financial Associate Accounting and Finance 18,900 LYD
Financial Claims Analyst Accounting and Finance 25,440 LYD
Financial Claims Manager Accounting and Finance 35,000 LYD
Financial Claims Supervisor Accounting and Finance 35,300 LYD
Financial Clerk Accounting and Finance 15,880 LYD
Financial Commercial Analyst Accounting and Finance 27,480 LYD
Financial Compliance Analyst Accounting and Finance 29,160 LYD
Financial Consultant Accounting and Finance 24,720 LYD
Financial Controller Accounting and Finance 29,600 LYD
Financial Controller Accounting and Finance 30,700 LYD
Financial Coordinator Accounting and Finance 16,140 LYD
Financial Customer Service Manager Accounting and Finance 35,000 LYD
Financial Dealer and Broker Accounting and Finance 23,520 LYD
Financial Director Accounting and Finance 59,240 LYD
Financial Encoder Accounting and Finance 18,780 LYD
Financial Manager Accounting and Finance 52,380 LYD
Financial Manager Accounting and Finance 54,280 LYD
Financial Operations Manager Accounting and Finance 52,380 LYD
Financial Policy Analyst Accounting and Finance 31,960 LYD
Financial Project Manager Accounting and Finance 42,460 LYD
Financial Quantitative Analyst Accounting and Finance 35,300 LYD
Financial Reporting Consultant Accounting and Finance 26,100 LYD
Financial Reporting Manager Accounting and Finance 39,080 LYD
Financial Section Head Accounting and Finance 37,740 LYD
Financial Services Manager Accounting and Finance 53,120 LYD
Financial Services Sales Agent Accounting and Finance 19,060 LYD
Fixed Assets Administrator Accounting and Finance 19,980 LYD
Forensic Accountant Accounting and Finance 23,480 LYD
Fraud Detection Supervisor Accounting and Finance 25,940 LYD
Fraud Prevention Manager Accounting and Finance 40,600 LYD
Fund Accountant Accounting and Finance 19,640 LYD
Grants Coordinator Accounting and Finance 13,100 LYD
Group Financial Manager Accounting and Finance 55,020 LYD
Internal Auditor Accounting and Finance 25,720 LYD
Internal Control Adviser Accounting and Finance 31,180 LYD
Internal Control Officer Accounting and Finance 19,200 LYD
International Tax Director Accounting and Finance 49,820 LYD
Inventory Accountant Accounting and Finance 21,020 LYD
Investment Advisor Accounting and Finance 53,600 LYD
Investment Analyst Accounting and Finance 40,560 LYD
Investment Associate Accounting and Finance 32,200 LYD
Investment Broker Accounting and Finance 35,300 LYD
Investment Fund Manager Accounting and Finance 44,800 LYD
Investment Operations Manager Accounting and Finance 40,600 LYD
Investment Underwriter Accounting and Finance 15,300 LYD
Investor Accounting and Finance 26,080 LYD
Investor Relations Manager Accounting and Finance 36,020 LYD
KYC Team Leader Accounting and Finance 40,240 LYD
Loan Processor Accounting and Finance 18,260 LYD
Management Accountant Accounting and Finance 23,400 LYD
Management Economist Accounting and Finance 43,520 LYD
Paymaster Accounting and Finance 16,880 LYD
Payroll Administrator Accounting and Finance 28,820 LYD
Payroll Benefits Coordinator Accounting and Finance 21,640 LYD
Payroll Billing Manager Accounting and Finance 34,380 LYD
Payroll Clerk Accounting and Finance 18,260 LYD
Payroll Manager Accounting and Finance 34,120 LYD
Payroll Officer Accounting and Finance 15,920 LYD
Payroll Specialist Accounting and Finance 21,560 LYD
Payroll Supervisor Accounting and Finance 27,020 LYD
Pensions Administrator Accounting and Finance 20,520 LYD
Personal Financial Advisor Accounting and Finance 26,280 LYD
Pricing Analyst Accounting and Finance 34,080 LYD
Private Equity Analyst Accounting and Finance 35,520 LYD
Project Accountant Accounting and Finance 20,000 LYD
Proposal Development Coordinator Accounting and Finance 15,300 LYD
Receivables Accountant Accounting and Finance 17,860 LYD
Regulatory Accountant Accounting and Finance 22,540 LYD
Retirement Plan Analyst Accounting and Finance 32,960 LYD
Revenue Management Specialist Accounting and Finance 34,480 LYD
Revenue Recognition Analyst Accounting and Finance 35,340 LYD
Risk Management Director Accounting and Finance 45,260 LYD
Risk Management Supervisor Accounting and Finance 38,620 LYD
Staff Accountant Accounting and Finance 19,220 LYD
Tax Accountant Accounting and Finance 18,280 LYD
Tax Administrator Accounting and Finance 21,020 LYD
Tax Advisor Accounting and Finance 29,320 LYD
Tax Analyst Accounting and Finance 29,640 LYD
Tax Associate Accounting and Finance 15,920 LYD
Tax Consultant Accounting and Finance 32,960 LYD
Tax Director Accounting and Finance 48,160 LYD
Tax Examiner Accounting and Finance 19,160 LYD
Tax Manager Accounting and Finance 43,480 LYD
Tax Research Manager Accounting and Finance 39,960 LYD
Teller Accounting and Finance 12,520 LYD
Treasury Accountant Accounting and Finance 20,940 LYD
Treasury Analyst Accounting and Finance 31,340 LYD
Underwriter Accounting and Finance 12,240 LYD
Underwriting Assistant Accounting and Finance 14,540 LYD
Vice President of Finance Accounting and Finance 55,020 LYD

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