Average Finance Licensing Specialist Salary in Colombia for 2024

In this article, we will look at the average Finance Licensing Specialist salary for 2024 in Colombia 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 Colombian peso. To keep things simple, we are using the COP currency code instead of the currency symbol $.

How Much Does a Finance Licensing Specialist Make in Colombia?

A Finance Licensing Specialist working in Colombia will typically earn around 43,559,400 COP per year, and this can range from the lowest average salary of about 20,038,100 COP to the highest average salary of 69,359,500 COP.

Average Annual Salary
43,559,400 COP
Average Monthly Salary
3,629,950 COP

Lowest Annual Salary
20,038,100 COP
Lowest Monthly Salary
1,669,841 COP

Highest Annual Salary
69,359,500 COP
Highest Monthly Salary
5,779,958 COP

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

Finance Licensing 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 Licensing Specialist Salaries in Colombia

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

Salary ranges

We already know that a Finance Licensing Specialist can earn between 20,038,100 COP and 69,359,500 COP on average in Colombia. 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 Licensing Specialist in Colombia is 47,158,400 COP. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 47,158,400 COP, and 50% of the population earn more than 47,158,400 COP.

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 Licensing Specialist salary in Colombia, 25% of the population are earning less than 30,240,200 COP while 75% of the population earn more than 30,240,200 COP.

75% of the population earn less than 62,879,900 COP, and 25% of the population earn more than 62,879,900 COP.

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 Licensing Specialist Salary by Experience Level in Colombia

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 licensing 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 Licensing Specialist in Colombia that has less than two years of experience can expect to earn somewhere in the region of 22,799,000 COP.
  • 2 - 5 Years Experience. With two to five years of experience the average Finance Licensing Specialist salary would increase to 30,360,800 COP.
  • 5 - 10 Years Experience. From five to ten years of experience as a Finance Licensing Specialist, the average salary would be 44,998,200 COP.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 54,840,400 COP.
  • 15 - 20 Years Experience. A Finance Licensing Specialist with 15 to 20 years of experience can earn an average of 59,758,700 COP.
  • 20+ Years Experience. For a Finance Licensing Specialist with more than 20 years, the expected average salary increases to 64,681,900 COP.

Average Salary by Experience Chart

0-2 Years
22,799,000 COP
2-5 Years +34%
30,360,800 COP
5-10 Years +48%
44,998,200 COP
10-15 Years +22%
54,840,400 COP
15-20 Years +9%
59,758,700 COP
20+ Years +8%
64,681,900 COP

Finance Licensing Specialist Salary by Education Level in Colombia

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 Licensing Specialist in Colombia 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 Licensing Specialist in Colombia with a high school education can earn an average salary of 27,960,400 COP.

  • Certificate or Diploma. A Finance Licensing Specialist in Colombia with a certificate or diploma education can earn an average salary of 32,879,500 COP.

  • Bachelor's Degree. A Finance Licensing Specialist in Colombia with a bachelor's degree education can earn an average salary of 47,640,400 COP.

  • Master's Degree. A Finance Licensing Specialist in Colombia with a master's degree education can earn an average salary of 62,400,200 COP.

Average Salary by Education Chart

High School
27,960,400 COP
Certificate or Diploma +18%
32,879,500 COP
Bachelor's Degree +45%
47,640,400 COP
Master's Degree +31%
62,400,200 COP

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 Colombia is around 23,500,000 to 70,400,000 COP 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 Licensing 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 Colombia, a male finance licensing specialist will earn an average of 46,921,300 COP, while a female finance licensing specialist will earn around 40,321,500 COP.

This means that a male finance licensing specialist earns approximately 16% more than a female finance licensing specialist for performing the same job.

Average Salary by Gender Chart in Colombia

Male
46,921,300 COP
Female -16%
40,321,500 COP

Finance Licensing Specialist Average Pay Raise in Colombia

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 Licensing Specialist in Colombia is around 10% every 18 months.

The national average pay raise across all professions and industries in Colombia is around 7% every 19 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 = ( 10 ÷ 18 ) × 12  = 7%

What this means is that a Finance Licensing Specialist in Colombia can expect to receive an average pay raise of around 7% every 12 months.

Annual Pay Raise by Industry in Colombia for 2024

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

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%

Finance Licensing Specialist Bonus and Incentive Rates in Colombia

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 Licensing Specialist is a moderate bonus based job, with 56% of employees reporting at least one bonus in the last 12 months.

44% 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
56%
No Bonus
44%

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 Colombia earn approximately 11% more than private sector employees in the same role.

Public Sector
58,559,300 COP
Private Sector -11%
52,800,100 COP

Salaries for Jobs Similar to a Finance Licensing Specialist

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

Job Title Category Salary
Account Examiner Accounting and Finance 28,078,900 COP
Account Executive Accounting and Finance 50,398,300 COP
Accountant Accounting and Finance 36,960,300 COP
Accounting Analyst Accounting and Finance 47,640,400 COP
Accounting Assistant Accounting and Finance 30,360,800 COP
Accounting Associate Accounting and Finance 27,721,300 COP
Accounting Clerk Accounting and Finance 24,000,900 COP
Accounting Coordinator Accounting and Finance 33,599,200 COP
Accounting Head Accounting and Finance 79,679,400 COP
Accounting Manager Accounting and Finance 83,759,700 COP
Accounting Officer Accounting and Finance 30,119,100 COP
Accounting Specialist Accounting and Finance 52,319,400 COP
Accounting Supervisor Accounting and Finance 52,800,100 COP
Accounting Technician Accounting and Finance 28,078,900 COP
Accounting Unit Controller Accounting and Finance 68,039,500 COP
Accounts Executive Accounting and Finance 50,759,100 COP
Accounts Officer Accounting and Finance 31,678,800 COP
Accounts Payable and Receivable Specialist Accounting and Finance 41,878,100 COP
Accounts Payable Assistant Accounting and Finance 31,320,700 COP
Accounts Payable Associate Accounting and Finance 36,841,600 COP
Accounts Payable Clerk Accounting and Finance 30,721,900 COP
Accounts Payable Manager Accounting and Finance 77,399,200 COP
Accounts Receivable Administrator Accounting and Finance 55,801,900 COP
Accounts Receivable Clerk Accounting and Finance 30,479,000 COP
Accounts Receivable Financial Analyst Accounting and Finance 54,961,400 COP
Accounts Receivable Manager Accounting and Finance 75,721,000 COP
Accounts Receivable Team Leader Accounting and Finance 57,239,200 COP
Assistant Accountant Accounting and Finance 31,440,200 COP
Assistant Accounting Manager Accounting and Finance 75,721,000 COP
Assistant Auditor Accounting and Finance 38,521,100 COP
Assistant Corporate Controller Accounting and Finance 56,041,700 COP
Assistant Finance Manager Accounting and Finance 84,840,200 COP
Assistant Financial Controller Accounting and Finance 53,521,300 COP
Audit Director Accounting and Finance 92,758,800 COP
Audit Supervisor Accounting and Finance 73,681,000 COP
Auditing Clerk Accounting and Finance 31,678,800 COP
Auditing Manager Accounting and Finance 82,921,700 COP
Billing Clerk Accounting and Finance 29,161,000 COP
Billing Coordinator Accounting and Finance 36,480,500 COP
Billing Specialist Accounting and Finance 41,520,800 COP
Billing Supervisor Accounting and Finance 63,481,200 COP
Bookkeeper Accounting and Finance 25,919,400 COP
Bookkeeping Specialist Accounting and Finance 38,281,500 COP
Budget Analyst Accounting and Finance 70,920,900 COP
Budget Manager Accounting and Finance 80,640,500 COP
Business Support Analyst Accounting and Finance 43,438,200 COP
Capital Markets Associate Accounting and Finance 57,479,000 COP
Cash Flow Analyst Accounting and Finance 61,799,000 COP
Cash Management Manager Accounting and Finance 76,921,100 COP
Cash Management Officer Accounting and Finance 46,800,400 COP
Cashbook Clerk Accounting and Finance 27,960,400 COP
Chartered Accountant Accounting and Finance 49,318,100 COP
Chief Accountant Accounting and Finance 59,281,600 COP
Collections Clerk Accounting and Finance 23,759,100 COP
Collections Representative Accounting and Finance 36,121,000 COP
Collections Specialist Accounting and Finance 40,799,600 COP
Corporate Controller Accounting and Finance 62,638,300 COP
Corporate Treasurer Accounting and Finance 76,560,700 COP
Cost Accountant Accounting and Finance 41,040,700 COP
Cost Accounting Manager Accounting and Finance 75,360,300 COP
Cost Accounting Supervisor Accounting and Finance 66,119,000 COP
Cost Analyst Accounting and Finance 63,481,200 COP
Credit and Collection Manager Accounting and Finance 78,121,700 COP
Credit and Collection Staff Accounting and Finance 31,440,200 COP
Credit and Loans Officer Accounting and Finance 27,241,100 COP
Credit Controller Accounting and Finance 55,201,700 COP
Credit Manager Accounting and Finance 82,439,700 COP
Debt Adviser Accounting and Finance 67,558,400 COP
Debt Collector Accounting and Finance 31,201,500 COP
Debtors Clerk Accounting and Finance 27,960,400 COP
Debtors Controller Accounting and Finance 30,119,100 COP
Deputy CFO Accounting and Finance 106,681,000 COP
Deputy Head of Finance Accounting and Finance 105,960,300 COP
Derivative Trader Accounting and Finance 65,759,500 COP
Director of Finance Accounting and Finance 121,199,300 COP
Economist Accounting and Finance 89,398,800 COP
Equity Analyst Accounting and Finance 70,318,900 COP
Escrow Assistant Accounting and Finance 36,960,300 COP
Executive Accountant Accounting and Finance 44,280,500 COP
External Auditor Accounting and Finance 52,918,800 COP
Finance Administrator Accounting and Finance 45,361,500 COP
Finance Analyst Accounting and Finance 71,761,200 COP
Finance Associate Accounting and Finance 35,398,900 COP
Finance Director Accounting and Finance 113,999,200 COP
Finance Executive Accounting and Finance 80,278,500 COP
Finance Licensing Clerk Accounting and Finance 29,278,200 COP
Finance Licensing Manager Accounting and Finance 73,440,100 COP
Finance Manager Accounting and Finance 113,399,400 COP
Finance Officer Accounting and Finance 36,718,100 COP
Finance President Accounting and Finance 114,599,200 COP
Finance Relationship Manager Accounting and Finance 87,600,700 COP
Finance Release Analyst Accounting and Finance 45,119,800 COP
Finance Specialist Accounting and Finance 63,599,700 COP
Finance Team Leader Accounting and Finance 84,121,400 COP
Financial Accountant Accounting and Finance 40,559,300 COP
Financial Actuary Accounting and Finance 57,961,400 COP
Financial Administrator Accounting and Finance 64,681,900 COP
Financial Advisor Accounting and Finance 73,081,700 COP
Financial Analyst Accounting and Finance 68,639,200 COP
Financial Applications Specialist Accounting and Finance 48,239,000 COP
Financial Assistant Accounting and Finance 32,519,500 COP
Financial Associate Accounting and Finance 30,600,900 COP
Financial Associate Accounting and Finance 36,480,500 COP
Financial Claims Analyst Accounting and Finance 54,719,600 COP
Financial Claims Manager Accounting and Finance 68,639,200 COP
Financial Claims Supervisor Accounting and Finance 66,720,300 COP
Financial Clerk Accounting and Finance 29,041,200 COP
Financial Commercial Analyst Accounting and Finance 54,600,600 COP
Financial Compliance Analyst Accounting and Finance 65,161,000 COP
Financial Consultant Accounting and Finance 51,719,500 COP
Financial Controller Accounting and Finance 60,958,800 COP
Financial Controller Accounting and Finance 63,241,900 COP
Financial Coordinator Accounting and Finance 38,039,000 COP
Financial Customer Service Manager Accounting and Finance 75,721,000 COP
Financial Dealer and Broker Accounting and Finance 43,438,200 COP
Financial Director Accounting and Finance 121,199,300 COP
Financial Encoder Accounting and Finance 34,441,600 COP
Financial Manager Accounting and Finance 105,358,700 COP
Financial Manager Accounting and Finance 108,600,300 COP
Financial Operations Manager Accounting and Finance 105,478,200 COP
Financial Policy Analyst Accounting and Finance 58,441,700 COP
Financial Project Manager Accounting and Finance 78,241,300 COP
Financial Quantitative Analyst Accounting and Finance 68,398,200 COP
Financial Reporting Consultant Accounting and Finance 58,079,300 COP
Financial Reporting Manager Accounting and Finance 71,999,700 COP
Financial Section Head Accounting and Finance 72,481,900 COP
Financial Services Manager Accounting and Finance 103,441,400 COP
Financial Services Sales Agent Accounting and Finance 43,680,700 COP
Fixed Assets Administrator Accounting and Finance 43,081,400 COP
Forensic Accountant Accounting and Finance 44,161,600 COP
Fraud Detection Supervisor Accounting and Finance 48,480,700 COP
Fraud Prevention Manager Accounting and Finance 84,001,900 COP
Fund Accountant Accounting and Finance 37,441,100 COP
Grants Coordinator Accounting and Finance 28,560,900 COP
Group Financial Manager Accounting and Finance 113,519,000 COP
Internal Auditor Accounting and Finance 53,040,100 COP
Internal Control Adviser Accounting and Finance 61,799,000 COP
Internal Control Officer Accounting and Finance 35,878,200 COP
International Tax Director Accounting and Finance 98,639,800 COP
Inventory Accountant Accounting and Finance 39,960,800 COP
Investment Advisor Accounting and Finance 109,678,600 COP
Investment Analyst Accounting and Finance 76,801,100 COP
Investment Associate Accounting and Finance 63,599,700 COP
Investment Broker Accounting and Finance 68,398,200 COP
Investment Fund Manager Accounting and Finance 88,681,800 COP
Investment Operations Manager Accounting and Finance 86,160,100 COP
Investment Underwriter Accounting and Finance 32,038,500 COP
Investor Accounting and Finance 48,841,700 COP
Investor Relations Manager Accounting and Finance 79,801,600 COP
KYC Team Leader Accounting and Finance 76,678,200 COP
Loan Processor Accounting and Finance 33,119,100 COP
Management Accountant Accounting and Finance 44,398,300 COP
Management Economist Accounting and Finance 92,400,700 COP
Paymaster Accounting and Finance 30,479,000 COP
Payroll Administrator Accounting and Finance 50,281,100 COP
Payroll Benefits Coordinator Accounting and Finance 43,559,400 COP
Payroll Billing Manager Accounting and Finance 75,360,300 COP
Payroll Clerk Accounting and Finance 34,799,800 COP
Payroll Manager Accounting and Finance 69,241,100 COP
Payroll Officer Accounting and Finance 34,078,800 COP
Payroll Specialist Accounting and Finance 42,719,800 COP
Payroll Supervisor Accounting and Finance 50,759,100 COP
Pensions Administrator Accounting and Finance 42,000,700 COP
Personal Financial Advisor Accounting and Finance 59,040,700 COP
Pricing Analyst Accounting and Finance 62,879,900 COP
Private Equity Analyst Accounting and Finance 71,641,100 COP
Project Accountant Accounting and Finance 42,119,100 COP
Proposal Development Coordinator Accounting and Finance 35,279,300 COP
Receivables Accountant Accounting and Finance 37,441,100 COP
Regulatory Accountant Accounting and Finance 41,520,800 COP
Retirement Plan Analyst Accounting and Finance 62,638,300 COP
Revenue Management Specialist Accounting and Finance 68,281,500 COP
Revenue Recognition Analyst Accounting and Finance 69,479,600 COP
Risk Management Director Accounting and Finance 94,321,200 COP
Risk Management Supervisor Accounting and Finance 81,359,100 COP
Staff Accountant Accounting and Finance 36,240,700 COP
Tax Accountant Accounting and Finance 39,241,100 COP
Tax Administrator Accounting and Finance 44,161,600 COP
Tax Advisor Accounting and Finance 59,158,300 COP
Tax Analyst Accounting and Finance 62,041,800 COP
Tax Associate Accounting and Finance 33,481,400 COP
Tax Consultant Accounting and Finance 61,199,900 COP
Tax Director Accounting and Finance 93,239,900 COP
Tax Examiner Accounting and Finance 40,439,700 COP
Tax Manager Accounting and Finance 79,679,400 COP
Tax Research Manager Accounting and Finance 83,521,700 COP
Teller Accounting and Finance 23,040,200 COP
Treasury Accountant Accounting and Finance 41,280,700 COP
Treasury Analyst Accounting and Finance 64,560,300 COP
Underwriter Accounting and Finance 26,639,300 COP
Underwriting Assistant Accounting and Finance 26,280,300 COP
Vice President of Finance Accounting and Finance 107,761,600 COP

Salary Comparison by City

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

City Average Salary
Barranquilla 43,921,700 COP
Bello 40,679,700 COP
Bogota 47,999,400 COP
Bucaramanga 42,959,900 COP
Buenaventura 39,600,100 COP
Cartagena 45,599,600 COP
Cucuta 47,158,400 COP
Ibague 45,119,800 COP
Manizales 39,840,400 COP
Medellin 44,878,500 COP
Monteria 41,040,700 COP
Neiva 41,638,700 COP
Pereira 42,601,100 COP
Santa Marta 41,520,800 COP
Soacha 45,119,800 COP
Soledad 46,560,900 COP
Valledupar 42,359,400 COP
Villavicencio 42,359,400 COP

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