Average Group Financial Manager Salary in Belize for 2024

In this article, we will look at the average Group Financial Manager salary for 2024 in Belize 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 Belize dollar. To keep things simple, we are using the BZD currency code instead of the currency symbol $.

How Much Does a Group Financial Manager Make in Belize?

A Group Financial Manager working in Belize will typically earn around 96,220 BZD per year, and this can range from the lowest average salary of about 44,540 BZD to the highest average salary of 151,800 BZD.

Average Annual Salary
96,220 BZD
Average Monthly Salary
8,018 BZD

Lowest Annual Salary
44,540 BZD
Lowest Monthly Salary
3,711 BZD

Highest Annual Salary
151,800 BZD
Highest Monthly Salary
12,650 BZD

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

Group Financial 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 Group Financial Manager Salaries in Belize

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

Salary ranges

We already know that a Group Financial Manager can earn between 44,540 BZD and 151,800 BZD on average in Belize. 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 Group Financial Manager in Belize is 98,960 BZD. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 98,960 BZD, and 50% of the population earn more than 98,960 BZD.

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 Group Financial Manager salary in Belize, 25% of the population are earning less than 66,580 BZD while 75% of the population earn more than 66,580 BZD.

75% of the population earn less than 134,600 BZD, and 25% of the population earn more than 134,600 BZD.

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.

Group Financial Manager Salary by Experience Level in Belize

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 group financial 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 Group Financial Manager in Belize that has less than two years of experience can expect to earn somewhere in the region of 52,180 BZD.
  • 2 - 5 Years Experience. With two to five years of experience the average Group Financial Manager salary would increase to 69,720 BZD.
  • 5 - 10 Years Experience. From five to ten years of experience as a Group Financial Manager, the average salary would be 99,220 BZD.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 125,100 BZD.
  • 15 - 20 Years Experience. A Group Financial Manager with 15 to 20 years of experience can earn an average of 128,500 BZD.
  • 20+ Years Experience. For a Group Financial Manager with more than 20 years, the expected average salary increases to 142,300 BZD.

Average Salary by Experience Chart

0-2 Years
52,180 BZD
2-5 Years +38%
69,720 BZD
5-10 Years +42%
99,220 BZD
10-15 Years +22%
125,100 BZD
15-20 Years +6%
128,500 BZD
20+ Years +9%
142,300 BZD

Group Financial Manager Salary by Education Level in Belize

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 Group Financial Manager in Belize 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 Group Financial Manager in Belize with a certificate or diploma education can earn an average salary of 60,840 BZD.

  • Bachelor's Degree. A Group Financial Manager in Belize with a bachelor's degree education can earn an average salary of 95,600 BZD.

  • Master's Degree. A Group Financial Manager in Belize with a master's degree education can earn an average salary of 136,200 BZD.

Average Salary by Education Chart

Certificate or Diploma
60,840 BZD
Bachelor's Degree +58%
95,600 BZD
Master's Degree +39%
136,200 BZD

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 Belize is around 19,600 to 58,800 BZD 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.

Group Financial 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 Belize, a male group financial manager will earn an average of 99,100 BZD, while a female group financial manager will earn around 91,380 BZD.

This means that a male group financial manager earns approximately 8% more than a female group financial manager for performing the same job.

Average Salary by Gender Chart in Belize

Male
99,100 BZD
Female -8%
91,380 BZD

Group Financial Manager Average Pay Raise in Belize

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 Group Financial Manager in Belize is around 10% every 29 months.

The national average pay raise across all professions and industries in Belize 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 = ( 10 ÷ 29 ) × 12  = 4%

What this means is that a Group Financial Manager in Belize can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Belize for 2024

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

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

Banking
4%
Energy
8%
Information Technology
3%
Healthcare
7%
Travel
2%
Construction
6%
Education
1%

Group Financial Manager Bonus and Incentive Rates in Belize

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 Group Financial Manager is a moderate bonus based job, with 68% of employees reporting at least one bonus in the last 12 months.

32% 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
68%
No Bonus
32%

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 Belize earn approximately 23% more than private sector employees in the same role.

Public Sector
53,120 BZD
Private Sector -23%
43,340 BZD

Salaries for Jobs Similar to a Group Financial Manager

In the table below, we have salary information for jobs that are similar to a Group Financial Manager in Belize.

Job Title Category Salary
Account Examiner Accounting and Finance 22,400 BZD
Account Executive Accounting and Finance 45,580 BZD
Accountant Accounting and Finance 34,160 BZD
Accounting Analyst Accounting and Finance 43,480 BZD
Accounting Assistant Accounting and Finance 25,440 BZD
Accounting Associate Accounting and Finance 23,360 BZD
Accounting Clerk Accounting and Finance 21,020 BZD
Accounting Coordinator Accounting and Finance 28,900 BZD
Accounting Head Accounting and Finance 69,180 BZD
Accounting Manager Accounting and Finance 69,060 BZD
Accounting Officer Accounting and Finance 24,200 BZD
Accounting Specialist Accounting and Finance 48,740 BZD
Accounting Supervisor Accounting and Finance 46,840 BZD
Accounting Technician Accounting and Finance 21,300 BZD
Accounting Unit Controller Accounting and Finance 57,620 BZD
Accounts Executive Accounting and Finance 44,540 BZD
Accounts Officer Accounting and Finance 24,200 BZD
Accounts Payable and Receivable Specialist Accounting and Finance 35,300 BZD
Accounts Payable Assistant Accounting and Finance 26,400 BZD
Accounts Payable Associate Accounting and Finance 34,080 BZD
Accounts Payable Clerk Accounting and Finance 25,680 BZD
Accounts Payable Manager Accounting and Finance 69,240 BZD
Accounts Receivable Administrator Accounting and Finance 50,580 BZD
Accounts Receivable Clerk Accounting and Finance 25,160 BZD
Accounts Receivable Financial Analyst Accounting and Finance 48,740 BZD
Accounts Receivable Manager Accounting and Finance 64,040 BZD
Accounts Receivable Team Leader Accounting and Finance 51,400 BZD
Assistant Accountant Accounting and Finance 26,080 BZD
Assistant Accounting Manager Accounting and Finance 63,380 BZD
Assistant Auditor Accounting and Finance 33,980 BZD
Assistant Corporate Controller Accounting and Finance 44,540 BZD
Assistant Finance Manager Accounting and Finance 69,240 BZD
Assistant Financial Controller Accounting and Finance 48,740 BZD
Audit Director Accounting and Finance 81,880 BZD
Audit Supervisor Accounting and Finance 58,720 BZD
Auditing Clerk Accounting and Finance 24,200 BZD
Auditing Manager Accounting and Finance 67,360 BZD
Billing Clerk Accounting and Finance 24,860 BZD
Billing Coordinator Accounting and Finance 32,620 BZD
Billing Specialist Accounting and Finance 33,980 BZD
Billing Supervisor Accounting and Finance 53,840 BZD
Bookkeeper Accounting and Finance 23,500 BZD
Bookkeeping Specialist Accounting and Finance 29,600 BZD
Budget Analyst Accounting and Finance 58,200 BZD
Budget Manager Accounting and Finance 67,320 BZD
Business Support Analyst Accounting and Finance 40,420 BZD
Capital Markets Associate Accounting and Finance 51,340 BZD
Cash Flow Analyst Accounting and Finance 53,120 BZD
Cash Management Manager Accounting and Finance 70,940 BZD
Cash Management Officer Accounting and Finance 36,700 BZD
Cashbook Clerk Accounting and Finance 22,400 BZD
Chartered Accountant Accounting and Finance 42,040 BZD
Chief Accountant Accounting and Finance 48,740 BZD
Collections Clerk Accounting and Finance 19,380 BZD
Collections Representative Accounting and Finance 29,640 BZD
Collections Specialist Accounting and Finance 35,300 BZD
Corporate Controller Accounting and Finance 56,880 BZD
Corporate Treasurer Accounting and Finance 63,480 BZD
Cost Accountant Accounting and Finance 34,280 BZD
Cost Accounting Manager Accounting and Finance 69,240 BZD
Cost Accounting Supervisor Accounting and Finance 53,860 BZD
Cost Analyst Accounting and Finance 54,280 BZD
Credit and Collection Manager Accounting and Finance 66,260 BZD
Credit and Collection Staff Accounting and Finance 26,780 BZD
Credit and Loans Officer Accounting and Finance 23,500 BZD
Credit Controller Accounting and Finance 46,880 BZD
Credit Manager Accounting and Finance 69,580 BZD
Debt Adviser Accounting and Finance 56,100 BZD
Debt Collector Accounting and Finance 28,180 BZD
Debtors Clerk Accounting and Finance 23,080 BZD
Debtors Controller Accounting and Finance 24,200 BZD
Deputy CFO Accounting and Finance 96,600 BZD
Deputy Head of Finance Accounting and Finance 89,340 BZD
Derivative Trader Accounting and Finance 55,580 BZD
Director of Finance Accounting and Finance 102,240 BZD
Economist Accounting and Finance 77,100 BZD
Equity Analyst Accounting and Finance 58,440 BZD
Escrow Assistant Accounting and Finance 32,020 BZD
Executive Accountant Accounting and Finance 36,020 BZD
External Auditor Accounting and Finance 47,760 BZD
Finance Administrator Accounting and Finance 39,080 BZD
Finance Analyst Accounting and Finance 61,400 BZD
Finance Associate Accounting and Finance 31,540 BZD
Finance Director Accounting and Finance 101,120 BZD
Finance Executive Accounting and Finance 69,260 BZD
Finance Licensing Clerk Accounting and Finance 23,480 BZD
Finance Licensing Manager Accounting and Finance 62,860 BZD
Finance Licensing Specialist Accounting and Finance 37,740 BZD
Finance Manager Accounting and Finance 97,900 BZD
Finance Officer Accounting and Finance 34,080 BZD
Finance President Accounting and Finance 94,940 BZD
Finance Relationship Manager Accounting and Finance 79,500 BZD
Finance Release Analyst Accounting and Finance 38,780 BZD
Finance Specialist Accounting and Finance 52,880 BZD
Finance Team Leader Accounting and Finance 72,420 BZD
Financial Accountant Accounting and Finance 33,980 BZD
Financial Actuary Accounting and Finance 50,080 BZD
Financial Administrator Accounting and Finance 57,080 BZD
Financial Advisor Accounting and Finance 60,880 BZD
Financial Analyst Accounting and Finance 61,760 BZD
Financial Applications Specialist Accounting and Finance 44,720 BZD
Financial Assistant Accounting and Finance 25,720 BZD
Financial Associate Accounting and Finance 26,780 BZD
Financial Associate Accounting and Finance 31,980 BZD
Financial Claims Analyst Accounting and Finance 45,620 BZD
Financial Claims Manager Accounting and Finance 60,600 BZD
Financial Claims Supervisor Accounting and Finance 60,480 BZD
Financial Clerk Accounting and Finance 24,860 BZD
Financial Commercial Analyst Accounting and Finance 49,300 BZD
Financial Compliance Analyst Accounting and Finance 53,840 BZD
Financial Consultant Accounting and Finance 45,600 BZD
Financial Controller Accounting and Finance 52,820 BZD
Financial Controller Accounting and Finance 57,360 BZD
Financial Coordinator Accounting and Finance 29,640 BZD
Financial Customer Service Manager Accounting and Finance 60,600 BZD
Financial Dealer and Broker Accounting and Finance 36,700 BZD
Financial Director Accounting and Finance 101,020 BZD
Financial Encoder Accounting and Finance 29,320 BZD
Financial Manager Accounting and Finance 90,540 BZD
Financial Manager Accounting and Finance 94,400 BZD
Financial Operations Manager Accounting and Finance 89,460 BZD
Financial Policy Analyst Accounting and Finance 52,300 BZD
Financial Project Manager Accounting and Finance 69,260 BZD
Financial Quantitative Analyst Accounting and Finance 60,480 BZD
Financial Reporting Consultant Accounting and Finance 45,580 BZD
Financial Reporting Manager Accounting and Finance 66,100 BZD
Financial Section Head Accounting and Finance 61,840 BZD
Financial Services Manager Accounting and Finance 89,280 BZD
Financial Services Sales Agent Accounting and Finance 34,120 BZD
Fixed Assets Administrator Accounting and Finance 38,260 BZD
Forensic Accountant Accounting and Finance 42,320 BZD
Fraud Detection Supervisor Accounting and Finance 44,300 BZD
Fraud Prevention Manager Accounting and Finance 70,600 BZD
Fund Accountant Accounting and Finance 29,600 BZD
Grants Coordinator Accounting and Finance 24,200 BZD
Internal Auditor Accounting and Finance 44,780 BZD
Internal Control Adviser Accounting and Finance 53,160 BZD
Internal Control Officer Accounting and Finance 30,220 BZD
International Tax Director Accounting and Finance 83,100 BZD
Inventory Accountant Accounting and Finance 34,360 BZD
Investment Advisor Accounting and Finance 88,300 BZD
Investment Analyst Accounting and Finance 69,240 BZD
Investment Associate Accounting and Finance 52,880 BZD
Investment Broker Accounting and Finance 58,860 BZD
Investment Fund Manager Accounting and Finance 72,540 BZD
Investment Operations Manager Accounting and Finance 70,600 BZD
Investment Underwriter Accounting and Finance 28,900 BZD
Investor Accounting and Finance 46,720 BZD
Investor Relations Manager Accounting and Finance 65,940 BZD
KYC Team Leader Accounting and Finance 65,920 BZD
Loan Processor Accounting and Finance 28,720 BZD
Management Accountant Accounting and Finance 39,640 BZD
Management Economist Accounting and Finance 74,940 BZD
Paymaster Accounting and Finance 28,180 BZD
Payroll Administrator Accounting and Finance 48,340 BZD
Payroll Benefits Coordinator Accounting and Finance 35,260 BZD
Payroll Billing Manager Accounting and Finance 62,060 BZD
Payroll Clerk Accounting and Finance 29,840 BZD
Payroll Manager Accounting and Finance 60,160 BZD
Payroll Officer Accounting and Finance 30,700 BZD
Payroll Specialist Accounting and Finance 36,800 BZD
Payroll Supervisor Accounting and Finance 44,140 BZD
Pensions Administrator Accounting and Finance 35,300 BZD
Personal Financial Advisor Accounting and Finance 47,720 BZD
Pricing Analyst Accounting and Finance 55,020 BZD
Private Equity Analyst Accounting and Finance 61,180 BZD
Project Accountant Accounting and Finance 38,260 BZD
Proposal Development Coordinator Accounting and Finance 27,480 BZD
Receivables Accountant Accounting and Finance 31,080 BZD
Regulatory Accountant Accounting and Finance 37,800 BZD
Retirement Plan Analyst Accounting and Finance 56,880 BZD
Revenue Management Specialist Accounting and Finance 58,860 BZD
Revenue Recognition Analyst Accounting and Finance 60,880 BZD
Risk Management Director Accounting and Finance 82,480 BZD
Risk Management Supervisor Accounting and Finance 69,240 BZD
Staff Accountant Accounting and Finance 31,380 BZD
Tax Accountant Accounting and Finance 33,960 BZD
Tax Administrator Accounting and Finance 34,360 BZD
Tax Advisor Accounting and Finance 50,340 BZD
Tax Analyst Accounting and Finance 51,340 BZD
Tax Associate Accounting and Finance 32,020 BZD
Tax Consultant Accounting and Finance 56,100 BZD
Tax Director Accounting and Finance 82,160 BZD
Tax Examiner Accounting and Finance 33,980 BZD
Tax Manager Accounting and Finance 71,660 BZD
Tax Research Manager Accounting and Finance 68,060 BZD
Teller Accounting and Finance 20,500 BZD
Treasury Accountant Accounting and Finance 37,200 BZD
Treasury Analyst Accounting and Finance 54,180 BZD
Underwriter Accounting and Finance 22,400 BZD
Underwriting Assistant Accounting and Finance 24,840 BZD
Vice President of Finance Accounting and Finance 93,880 BZD

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