Average Vice President of Finance Salary in Turkmenistan for 2024

In this article, we will look at the average Vice President of Finance salary for 2024 in Turkmenistan 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 Turkmenistan manat. To keep things simple, we are using the TMT currency code instead of the currency symbol m.

How Much Does a Vice President of Finance Make in Turkmenistan?

A Vice President of Finance working in Turkmenistan will typically earn around 127,700 TMT per year, and this can range from the lowest average salary of about 62,420 TMT to the highest average salary of 195,200 TMT.

Average Annual Salary
127,700 TMT
Average Monthly Salary
10,641 TMT

Lowest Annual Salary
62,420 TMT
Lowest Monthly Salary
5,201 TMT

Highest Annual Salary
195,200 TMT
Highest Monthly Salary
16,266 TMT

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

Vice President of Finance 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 Vice President of Finance Salaries in Turkmenistan

So we've looked at the average salaries a Vice President of Finance will earn in Turkmenistan. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Vice President of Finance can earn between 62,420 TMT and 195,200 TMT on average in Turkmenistan. 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 Vice President of Finance in Turkmenistan is 129,000 TMT. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 129,000 TMT, and 50% of the population earn more than 129,000 TMT.

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 Vice President of Finance salary in Turkmenistan, 25% of the population are earning less than 83,900 TMT while 75% of the population earn more than 83,900 TMT.

75% of the population earn less than 168,100 TMT, and 25% of the population earn more than 168,100 TMT.

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.

Vice President of Finance Salary by Experience Level in Turkmenistan

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 vice president of finance 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 Vice President of Finance in Turkmenistan that has less than two years of experience can expect to earn somewhere in the region of 75,040 TMT.
  • 2 - 5 Years Experience. With two to five years of experience the average Vice President of Finance salary would increase to 93,220 TMT.
  • 5 - 10 Years Experience. From five to ten years of experience as a Vice President of Finance, the average salary would be 128,500 TMT.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 159,500 TMT.
  • 15 - 20 Years Experience. A Vice President of Finance with 15 to 20 years of experience can earn an average of 172,400 TMT.
  • 20+ Years Experience. For a Vice President of Finance with more than 20 years, the expected average salary increases to 185,100 TMT.

Average Salary by Experience Chart

0-2 Years
75,040 TMT
2-5 Years +29%
93,220 TMT
5-10 Years +38%
128,500 TMT
10-15 Years +24%
159,500 TMT
15-20 Years +7%
172,400 TMT
20+ Years +7%
185,100 TMT

Vice President of Finance Salary by Education Level in Turkmenistan

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 Vice President of Finance in Turkmenistan 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 Vice President of Finance in Turkmenistan with a certificate or diploma education can earn an average salary of 93,220 TMT.

  • Bachelor's Degree. A Vice President of Finance in Turkmenistan with a bachelor's degree education can earn an average salary of 125,700 TMT.

  • Master's Degree. A Vice President of Finance in Turkmenistan with a master's degree education can earn an average salary of 194,600 TMT.

Average Salary by Education Chart

Certificate or Diploma
93,220 TMT
Bachelor's Degree +34%
125,700 TMT
Master's Degree +53%
194,600 TMT

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 Turkmenistan is around 26,100 to 78,400 TMT 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.

Vice President of Finance 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 Turkmenistan, a male vice president of finance will earn an average of 128,900 TMT, while a female vice president of finance will earn around 119,900 TMT.

This means that a male vice president of finance earns approximately 8% more than a female vice president of finance for performing the same job.

Average Salary by Gender Chart in Turkmenistan

Male
128,900 TMT
Female -8%
119,900 TMT

Vice President of Finance Average Pay Raise in Turkmenistan

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 Vice President of Finance in Turkmenistan is around 10% every 29 months.

The national average pay raise across all professions and industries in Turkmenistan 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 Vice President of Finance in Turkmenistan can expect to receive an average pay raise of around 4% every 12 months.

Annual Pay Raise by Industry in Turkmenistan for 2024

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

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

Banking
6%
Energy
3%
Information Technology
9%
Healthcare
6%
Travel
3%
Construction
9%
Education
6%

Vice President of Finance Bonus and Incentive Rates in Turkmenistan

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 Vice President of Finance is a moderate bonus based job, with 66% of employees reporting at least one bonus in the last 12 months.

34% 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
66%
No Bonus
34%

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 Turkmenistan earn approximately 16% more than private sector employees in the same role.

Public Sector
66,480 TMT
Private Sector -16%
57,320 TMT

Salaries for Jobs Similar to a Vice President of Finance

In the table below, we have salary information for jobs that are similar to a Vice President of Finance in Turkmenistan.

Job Title Category Salary
Account Examiner Accounting and Finance 33,440 TMT
Account Executive Accounting and Finance 57,440 TMT
Accountant Accounting and Finance 45,600 TMT
Accounting Analyst Accounting and Finance 55,320 TMT
Accounting Assistant Accounting and Finance 34,120 TMT
Accounting Associate Accounting and Finance 34,160 TMT
Accounting Clerk Accounting and Finance 26,660 TMT
Accounting Coordinator Accounting and Finance 36,720 TMT
Accounting Head Accounting and Finance 91,660 TMT
Accounting Manager Accounting and Finance 91,660 TMT
Accounting Officer Accounting and Finance 35,340 TMT
Accounting Specialist Accounting and Finance 63,040 TMT
Accounting Supervisor Accounting and Finance 58,440 TMT
Accounting Technician Accounting and Finance 31,080 TMT
Accounting Unit Controller Accounting and Finance 79,360 TMT
Accounts Executive Accounting and Finance 58,000 TMT
Accounts Officer Accounting and Finance 35,340 TMT
Accounts Payable and Receivable Specialist Accounting and Finance 43,800 TMT
Accounts Payable Assistant Accounting and Finance 39,160 TMT
Accounts Payable Associate Accounting and Finance 41,480 TMT
Accounts Payable Clerk Accounting and Finance 34,160 TMT
Accounts Payable Manager Accounting and Finance 91,520 TMT
Accounts Receivable Administrator Accounting and Finance 64,200 TMT
Accounts Receivable Clerk Accounting and Finance 35,520 TMT
Accounts Receivable Financial Analyst Accounting and Finance 66,020 TMT
Accounts Receivable Manager Accounting and Finance 83,060 TMT
Accounts Receivable Team Leader Accounting and Finance 66,960 TMT
Assistant Accountant Accounting and Finance 34,360 TMT
Assistant Accounting Manager Accounting and Finance 82,920 TMT
Assistant Auditor Accounting and Finance 47,120 TMT
Assistant Corporate Controller Accounting and Finance 57,820 TMT
Assistant Finance Manager Accounting and Finance 90,900 TMT
Assistant Financial Controller Accounting and Finance 66,020 TMT
Audit Director Accounting and Finance 108,800 TMT
Audit Supervisor Accounting and Finance 80,340 TMT
Auditing Clerk Accounting and Finance 35,340 TMT
Auditing Manager Accounting and Finance 89,120 TMT
Billing Clerk Accounting and Finance 35,300 TMT
Billing Coordinator Accounting and Finance 40,640 TMT
Billing Specialist Accounting and Finance 47,120 TMT
Billing Supervisor Accounting and Finance 69,400 TMT
Bookkeeper Accounting and Finance 31,380 TMT
Bookkeeping Specialist Accounting and Finance 42,320 TMT
Budget Analyst Accounting and Finance 74,940 TMT
Budget Manager Accounting and Finance 93,660 TMT
Business Support Analyst Accounting and Finance 53,600 TMT
Capital Markets Associate Accounting and Finance 67,320 TMT
Cash Flow Analyst Accounting and Finance 68,400 TMT
Cash Management Manager Accounting and Finance 92,880 TMT
Cash Management Officer Accounting and Finance 48,760 TMT
Cashbook Clerk Accounting and Finance 33,440 TMT
Chartered Accountant Accounting and Finance 55,580 TMT
Chief Accountant Accounting and Finance 66,020 TMT
Collections Clerk Accounting and Finance 28,820 TMT
Collections Representative Accounting and Finance 39,420 TMT
Collections Specialist Accounting and Finance 44,780 TMT
Corporate Controller Accounting and Finance 75,040 TMT
Corporate Treasurer Accounting and Finance 87,020 TMT
Cost Accountant Accounting and Finance 48,820 TMT
Cost Accounting Manager Accounting and Finance 92,300 TMT
Cost Accounting Supervisor Accounting and Finance 69,180 TMT
Cost Analyst Accounting and Finance 75,280 TMT
Credit and Collection Manager Accounting and Finance 88,480 TMT
Credit and Collection Staff Accounting and Finance 34,380 TMT
Credit and Loans Officer Accounting and Finance 31,380 TMT
Credit Controller Accounting and Finance 64,180 TMT
Credit Manager Accounting and Finance 92,900 TMT
Debt Adviser Accounting and Finance 74,060 TMT
Debt Collector Accounting and Finance 36,800 TMT
Debtors Clerk Accounting and Finance 31,040 TMT
Debtors Controller Accounting and Finance 35,340 TMT
Deputy CFO Accounting and Finance 129,000 TMT
Deputy Head of Finance Accounting and Finance 119,900 TMT
Derivative Trader Accounting and Finance 75,220 TMT
Director of Finance Accounting and Finance 136,200 TMT
Economist Accounting and Finance 102,960 TMT
Equity Analyst Accounting and Finance 80,480 TMT
Escrow Assistant Accounting and Finance 41,700 TMT
Executive Accountant Accounting and Finance 49,020 TMT
External Auditor Accounting and Finance 61,840 TMT
Finance Administrator Accounting and Finance 51,340 TMT
Finance Analyst Accounting and Finance 78,120 TMT
Finance Associate Accounting and Finance 37,880 TMT
Finance Director Accounting and Finance 137,400 TMT
Finance Executive Accounting and Finance 92,680 TMT
Finance Licensing Clerk Accounting and Finance 32,200 TMT
Finance Licensing Manager Accounting and Finance 85,440 TMT
Finance Licensing Specialist Accounting and Finance 48,300 TMT
Finance Manager Accounting and Finance 134,600 TMT
Finance Officer Accounting and Finance 41,480 TMT
Finance President Accounting and Finance 125,700 TMT
Finance Relationship Manager Accounting and Finance 109,000 TMT
Finance Release Analyst Accounting and Finance 55,140 TMT
Finance Specialist Accounting and Finance 72,700 TMT
Finance Team Leader Accounting and Finance 95,420 TMT
Financial Accountant Accounting and Finance 47,120 TMT
Financial Actuary Accounting and Finance 66,440 TMT
Financial Administrator Accounting and Finance 73,820 TMT
Financial Advisor Accounting and Finance 81,880 TMT
Financial Analyst Accounting and Finance 85,880 TMT
Financial Applications Specialist Accounting and Finance 58,000 TMT
Financial Assistant Accounting and Finance 37,200 TMT
Financial Associate Accounting and Finance 34,380 TMT
Financial Associate Accounting and Finance 45,200 TMT
Financial Claims Analyst Accounting and Finance 60,160 TMT
Financial Claims Manager Accounting and Finance 80,640 TMT
Financial Claims Supervisor Accounting and Finance 77,120 TMT
Financial Clerk Accounting and Finance 35,560 TMT
Financial Commercial Analyst Accounting and Finance 66,940 TMT
Financial Compliance Analyst Accounting and Finance 69,400 TMT
Financial Consultant Accounting and Finance 57,860 TMT
Financial Controller Accounting and Finance 70,700 TMT
Financial Controller Accounting and Finance 72,540 TMT
Financial Coordinator Accounting and Finance 39,420 TMT
Financial Customer Service Manager Accounting and Finance 80,640 TMT
Financial Dealer and Broker Accounting and Finance 50,080 TMT
Financial Director Accounting and Finance 130,400 TMT
Financial Encoder Accounting and Finance 40,560 TMT
Financial Manager Accounting and Finance 119,700 TMT
Financial Manager Accounting and Finance 125,700 TMT
Financial Operations Manager Accounting and Finance 119,700 TMT
Financial Policy Analyst Accounting and Finance 70,600 TMT
Financial Project Manager Accounting and Finance 92,680 TMT
Financial Quantitative Analyst Accounting and Finance 77,340 TMT
Financial Reporting Consultant Accounting and Finance 63,320 TMT
Financial Reporting Manager Accounting and Finance 88,600 TMT
Financial Section Head Accounting and Finance 83,400 TMT
Financial Services Manager Accounting and Finance 118,800 TMT
Financial Services Sales Agent Accounting and Finance 45,600 TMT
Fixed Assets Administrator Accounting and Finance 49,300 TMT
Forensic Accountant Accounting and Finance 52,880 TMT
Fraud Detection Supervisor Accounting and Finance 56,460 TMT
Fraud Prevention Manager Accounting and Finance 96,600 TMT
Fund Accountant Accounting and Finance 40,640 TMT
Grants Coordinator Accounting and Finance 33,520 TMT
Group Financial Manager Accounting and Finance 127,700 TMT
Internal Auditor Accounting and Finance 58,800 TMT
Internal Control Adviser Accounting and Finance 72,380 TMT
Internal Control Officer Accounting and Finance 40,040 TMT
International Tax Director Accounting and Finance 113,280 TMT
Inventory Accountant Accounting and Finance 48,200 TMT
Investment Advisor Accounting and Finance 119,080 TMT
Investment Analyst Accounting and Finance 90,900 TMT
Investment Associate Accounting and Finance 72,700 TMT
Investment Broker Accounting and Finance 77,120 TMT
Investment Fund Manager Accounting and Finance 97,260 TMT
Investment Operations Manager Accounting and Finance 96,600 TMT
Investment Underwriter Accounting and Finance 36,720 TMT
Investor Accounting and Finance 58,440 TMT
Investor Relations Manager Accounting and Finance 86,740 TMT
KYC Team Leader Accounting and Finance 91,560 TMT
Loan Processor Accounting and Finance 36,700 TMT
Management Accountant Accounting and Finance 52,460 TMT
Management Economist Accounting and Finance 101,920 TMT
Paymaster Accounting and Finance 36,020 TMT
Payroll Administrator Accounting and Finance 62,420 TMT
Payroll Benefits Coordinator Accounting and Finance 46,880 TMT
Payroll Billing Manager Accounting and Finance 80,280 TMT
Payroll Clerk Accounting and Finance 36,020 TMT
Payroll Manager Accounting and Finance 80,840 TMT
Payroll Officer Accounting and Finance 39,560 TMT
Payroll Specialist Accounting and Finance 48,640 TMT
Payroll Supervisor Accounting and Finance 57,360 TMT
Pensions Administrator Accounting and Finance 43,800 TMT
Personal Financial Advisor Accounting and Finance 63,480 TMT
Pricing Analyst Accounting and Finance 73,880 TMT
Private Equity Analyst Accounting and Finance 79,000 TMT
Project Accountant Accounting and Finance 49,820 TMT
Proposal Development Coordinator Accounting and Finance 38,680 TMT
Receivables Accountant Accounting and Finance 38,780 TMT
Regulatory Accountant Accounting and Finance 52,540 TMT
Retirement Plan Analyst Accounting and Finance 75,040 TMT
Revenue Management Specialist Accounting and Finance 79,600 TMT
Revenue Recognition Analyst Accounting and Finance 81,880 TMT
Risk Management Director Accounting and Finance 107,580 TMT
Risk Management Supervisor Accounting and Finance 91,520 TMT
Staff Accountant Accounting and Finance 42,400 TMT
Tax Accountant Accounting and Finance 45,200 TMT
Tax Administrator Accounting and Finance 48,200 TMT
Tax Advisor Accounting and Finance 67,360 TMT
Tax Analyst Accounting and Finance 67,320 TMT
Tax Associate Accounting and Finance 41,700 TMT
Tax Consultant Accounting and Finance 74,060 TMT
Tax Director Accounting and Finance 108,300 TMT
Tax Examiner Accounting and Finance 45,000 TMT
Tax Manager Accounting and Finance 94,940 TMT
Tax Research Manager Accounting and Finance 87,040 TMT
Teller Accounting and Finance 27,300 TMT
Treasury Accountant Accounting and Finance 45,260 TMT
Treasury Analyst Accounting and Finance 70,880 TMT
Underwriter Accounting and Finance 33,440 TMT
Underwriting Assistant Accounting and Finance 30,220 TMT

Salary Comparison by City

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

City Average Salary
Asgabat 134,600 TMT

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