Average Finance Officer Salary in Malang, Indonesia for 2024
In this article, we will look at the average Finance Officer salary for 2024 in Malang 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 Indonesian rupiah. To keep things simple, we are using the IDR currency code instead of the currency symbol Rp.
How Much Does a Finance Officer Make in Malang?
A Finance Officer working in Malang will typically earn around 95,040,800 IDR per year, and this can range from the lowest average salary of about 50,398,300 IDR to the highest average salary of 144,001,700 IDR.
Average Annual Salary
95,040,800 IDR
Average Monthly Salary
7,920,066 IDR
Lowest Annual Salary
50,398,300 IDR
Lowest Monthly Salary
4,199,858 IDR
Highest Annual Salary
144,001,700 IDR
Highest Monthly Salary
12,000,141 IDR
These are average salaries for a Finance Officer in Malang and include benefits such as housing and transport. It's also possible for a Finance Officer to earn more or less than the average salaries shown above.
Finance Officer 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 Officer Salaries in Malang
So we've looked at the average salaries a Finance Officer will earn in Malang. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that a Finance Officer can earn between 50,398,300 IDR and 144,001,700 IDR on average in Malang. 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 Officer in Malang is 89,281,500 IDR. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 89,281,500 IDR, and 50% of the population earn more than 89,281,500 IDR.
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 Officer salary in Malang, 25% of the population are earning less than 62,879,900 IDR while 75% of the population earn more than 62,879,900 IDR.
75% of the population earn less than 109,800,200 IDR, and 25% of the population earn more than 109,800,200 IDR.
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 Officer Salary by Experience Level in Malang
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 officer 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 Officer in Malang that has less than two years of experience can expect to earn somewhere in the region of 57,841,700 IDR.
-
2 - 5 Years Experience. With two to five years of experience the average Finance Officer salary would increase to 71,039,200 IDR.
-
5 - 10 Years Experience. From five to ten years of experience as a Finance Officer, the average salary would be 100,679,100 IDR.
-
10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 117,600,500 IDR.
-
15 - 20 Years Experience. A Finance Officer with 15 to 20 years of experience can earn an average of 129,601,700 IDR.
-
20+ Years Experience. For a Finance Officer with more than 20 years, the expected average salary increases to 136,800,100 IDR.
Average Salary by Experience Chart
0-2 Years |
|
57,841,700 IDR
|
2-5 Years |
+23% |
71,039,200 IDR
|
5-10 Years |
+42% |
100,679,100 IDR
|
10-15 Years |
+17% |
117,600,500 IDR
|
15-20 Years |
+10% |
129,601,700 IDR
|
20+ Years |
+6% |
136,800,100 IDR
|
Finance Officer Salary by Education Level in Malang
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 Officer in Malang 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 Officer in Malang with a high school education can earn an average salary of 71,039,200 IDR.
-
Certificate or Diploma. A Finance Officer in Malang with a certificate or diploma education can earn an average salary of 99,241,400 IDR.
-
Bachelor's Degree. A Finance Officer in Malang with a bachelor's degree education can earn an average salary of 140,401,100 IDR.
Average Salary by Education Chart
High School |
|
71,039,200 IDR
|
Certificate or Diploma |
+40% |
99,241,400 IDR
|
Bachelor's Degree |
+42% |
140,401,100 IDR
|
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 Indonesia is around 60,700,000 to 182,000,000 IDR 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 Officer 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 Malang, a male finance officer will earn an average of 106,198,200 IDR, while a female finance officer will earn around 95,161,700 IDR.
This means that a male finance officer earns approximately 12% more than a female finance officer for performing the same job.
Average Salary by Gender Chart in Malang
Male |
|
106,198,200 IDR
|
Female |
-12% |
95,161,700 IDR
|
Finance Officer Average Pay Raise in Malang
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 Officer in Malang is around 11% every 17 months.
The national average pay raise across all professions and industries in Indonesia is around 8% every 18 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 = ( 11 ÷ 17 ) × 12 = 8%
What this means is that a Finance Officer in Malang can expect to receive an average pay raise of around 8% every 12 months.
Annual Pay Raise by Industry in Malang for 2024
In the chart below, you can see the average annual pay raise percentages for each of the major industries in Indonesia.
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 Officer Bonus and Incentive Rates in Malang
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 Officer is a low bonus based job, with 25% of employees reporting at least one bonus in the last 12 months.
75% 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 1% to 3%.
Received Bonus |
|
25%
|
No Bonus |
|
75%
|
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 Indonesia earn approximately 9% more than private sector employees in the same role.
Public Sector |
|
151,201,000 IDR
|
Private Sector |
-9% |
139,199,500 IDR
|
Salaries for Jobs Similar to a Finance Officer
In the table below, we have salary information for jobs that are similar to a Finance Officer in Malang.
Job Title |
Category |
Salary |
Account Examiner |
Accounting and Finance |
78,358,100 IDR |
Account Executive |
Accounting and Finance |
139,199,500 IDR |
Accountant |
Accounting and Finance |
109,921,700 IDR |
Accounting Analyst |
Accounting and Finance |
125,999,700 IDR |
Accounting Assistant |
Accounting and Finance |
86,160,100 IDR |
Accounting Associate |
Accounting and Finance |
75,598,300 IDR |
Accounting Clerk |
Accounting and Finance |
65,041,800 IDR |
Accounting Coordinator |
Accounting and Finance |
94,079,900 IDR |
Accounting Head |
Accounting and Finance |
220,800,400 IDR |
Accounting Manager |
Accounting and Finance |
217,198,400 IDR |
Accounting Officer |
Accounting and Finance |
76,439,700 IDR |
Accounting Specialist |
Accounting and Finance |
140,401,100 IDR |
Accounting Supervisor |
Accounting and Finance |
145,200,100 IDR |
Accounting Technician |
Accounting and Finance |
74,879,200 IDR |
Accounting Unit Controller |
Accounting and Finance |
172,800,900 IDR |
Accounts Executive |
Accounting and Finance |
134,400,400 IDR |
Accounts Officer |
Accounting and Finance |
80,998,900 IDR |
Accounts Payable and Receivable Specialist |
Accounting and Finance |
111,598,600 IDR |
Accounts Payable Assistant |
Accounting and Finance |
90,118,200 IDR |
Accounts Payable Associate |
Accounting and Finance |
95,759,900 IDR |
Accounts Payable Clerk |
Accounting and Finance |
75,959,500 IDR |
Accounts Payable Manager |
Accounting and Finance |
201,598,500 IDR |
Accounts Receivable Administrator |
Accounting and Finance |
162,000,100 IDR |
Accounts Receivable Clerk |
Accounting and Finance |
76,078,800 IDR |
Accounts Receivable Financial Analyst |
Accounting and Finance |
144,001,700 IDR |
Accounts Receivable Manager |
Accounting and Finance |
199,199,700 IDR |
Accounts Receivable Team Leader |
Accounting and Finance |
158,398,200 IDR |
Assistant Accountant |
Accounting and Finance |
82,321,100 IDR |
Assistant Accounting Manager |
Accounting and Finance |
199,199,700 IDR |
Assistant Auditor |
Accounting and Finance |
108,000,700 IDR |
Assistant Corporate Controller |
Accounting and Finance |
141,598,200 IDR |
Assistant Finance Manager |
Accounting and Finance |
217,198,400 IDR |
Assistant Financial Controller |
Accounting and Finance |
141,598,200 IDR |
Audit Director |
Accounting and Finance |
248,398,700 IDR |
Audit Supervisor |
Accounting and Finance |
188,401,800 IDR |
Auditing Clerk |
Accounting and Finance |
80,998,900 IDR |
Auditing Manager |
Accounting and Finance |
214,799,400 IDR |
Billing Clerk |
Accounting and Finance |
84,479,000 IDR |
Billing Coordinator |
Accounting and Finance |
101,038,700 IDR |
Billing Specialist |
Accounting and Finance |
112,559,300 IDR |
Billing Supervisor |
Accounting and Finance |
158,398,200 IDR |
Bookkeeper |
Accounting and Finance |
68,398,200 IDR |
Bookkeeping Specialist |
Accounting and Finance |
102,241,700 IDR |
Budget Analyst |
Accounting and Finance |
178,800,800 IDR |
Budget Manager |
Accounting and Finance |
214,799,400 IDR |
Business Support Analyst |
Accounting and Finance |
122,398,700 IDR |
Capital Markets Associate |
Accounting and Finance |
164,398,100 IDR |
Cash Flow Analyst |
Accounting and Finance |
157,201,600 IDR |
Cash Management Manager |
Accounting and Finance |
206,398,800 IDR |
Cash Management Officer |
Accounting and Finance |
119,761,300 IDR |
Cashbook Clerk |
Accounting and Finance |
71,878,800 IDR |
Chartered Accountant |
Accounting and Finance |
133,198,700 IDR |
Chief Accountant |
Accounting and Finance |
153,600,700 IDR |
Collections Clerk |
Accounting and Finance |
68,878,700 IDR |
Collections Representative |
Accounting and Finance |
90,358,800 IDR |
Collections Specialist |
Accounting and Finance |
107,161,400 IDR |
Corporate Controller |
Accounting and Finance |
167,999,600 IDR |
Corporate Treasurer |
Accounting and Finance |
200,401,500 IDR |
Cost Accountant |
Accounting and Finance |
107,161,400 IDR |
Cost Accounting Manager |
Accounting and Finance |
208,801,000 IDR |
Cost Accounting Supervisor |
Accounting and Finance |
174,000,900 IDR |
Cost Analyst |
Accounting and Finance |
167,999,600 IDR |
Credit and Collection Manager |
Accounting and Finance |
207,600,200 IDR |
Credit and Collection Staff |
Accounting and Finance |
78,358,100 IDR |
Credit and Loans Officer |
Accounting and Finance |
76,078,800 IDR |
Credit Controller |
Accounting and Finance |
149,999,200 IDR |
Credit Manager |
Accounting and Finance |
219,601,200 IDR |
Debt Adviser |
Accounting and Finance |
170,399,900 IDR |
Debt Collector |
Accounting and Finance |
82,921,700 IDR |
Debtors Clerk |
Accounting and Finance |
74,758,600 IDR |
Debtors Controller |
Accounting and Finance |
76,439,700 IDR |
Deputy CFO |
Accounting and Finance |
285,599,300 IDR |
Deputy Head of Finance |
Accounting and Finance |
286,800,900 IDR |
Derivative Trader |
Accounting and Finance |
181,199,700 IDR |
Director of Finance |
Accounting and Finance |
318,000,500 IDR |
Economist |
Accounting and Finance |
241,199,300 IDR |
Equity Analyst |
Accounting and Finance |
183,600,500 IDR |
Escrow Assistant |
Accounting and Finance |
94,201,900 IDR |
Executive Accountant |
Accounting and Finance |
121,199,300 IDR |
External Auditor |
Accounting and Finance |
145,200,100 IDR |
Finance Administrator |
Accounting and Finance |
125,999,700 IDR |
Finance Analyst |
Accounting and Finance |
196,799,500 IDR |
Finance Associate |
Accounting and Finance |
94,079,900 IDR |
Finance Director |
Accounting and Finance |
319,201,400 IDR |
Finance Executive |
Accounting and Finance |
219,601,200 IDR |
Finance Licensing Clerk |
Accounting and Finance |
76,921,100 IDR |
Finance Licensing Manager |
Accounting and Finance |
203,999,800 IDR |
Finance Licensing Specialist |
Accounting and Finance |
115,560,900 IDR |
Finance Manager |
Accounting and Finance |
303,600,800 IDR |
Finance President |
Accounting and Finance |
323,999,400 IDR |
Finance Relationship Manager |
Accounting and Finance |
256,799,900 IDR |
Finance Release Analyst |
Accounting and Finance |
119,161,200 IDR |
Finance Specialist |
Accounting and Finance |
180,000,500 IDR |
Finance Team Leader |
Accounting and Finance |
235,200,900 IDR |
Financial Accountant |
Accounting and Finance |
102,599,200 IDR |
Financial Actuary |
Accounting and Finance |
166,799,600 IDR |
Financial Administrator |
Accounting and Finance |
181,199,700 IDR |
Financial Advisor |
Accounting and Finance |
196,799,500 IDR |
Financial Analyst |
Accounting and Finance |
187,198,300 IDR |
Financial Applications Specialist |
Accounting and Finance |
129,601,700 IDR |
Financial Assistant |
Accounting and Finance |
83,160,200 IDR |
Financial Associate |
Accounting and Finance |
86,398,400 IDR |
Financial Associate |
Accounting and Finance |
103,800,400 IDR |
Financial Claims Analyst |
Accounting and Finance |
141,598,200 IDR |
Financial Claims Manager |
Accounting and Finance |
187,198,300 IDR |
Financial Claims Supervisor |
Accounting and Finance |
174,000,900 IDR |
Financial Clerk |
Accounting and Finance |
81,840,300 IDR |
Financial Commercial Analyst |
Accounting and Finance |
162,000,100 IDR |
Financial Compliance Analyst |
Accounting and Finance |
166,799,600 IDR |
Financial Consultant |
Accounting and Finance |
140,401,100 IDR |
Financial Controller |
Accounting and Finance |
164,398,100 IDR |
Financial Controller |
Accounting and Finance |
178,800,800 IDR |
Financial Coordinator |
Accounting and Finance |
98,639,800 IDR |
Financial Customer Service Manager |
Accounting and Finance |
193,201,900 IDR |
Financial Dealer and Broker |
Accounting and Finance |
111,838,600 IDR |
Financial Director |
Accounting and Finance |
322,798,700 IDR |
Financial Encoder |
Accounting and Finance |
87,358,200 IDR |
Financial Manager |
Accounting and Finance |
285,599,300 IDR |
Financial Manager |
Accounting and Finance |
288,001,300 IDR |
Financial Operations Manager |
Accounting and Finance |
278,400,900 IDR |
Financial Policy Analyst |
Accounting and Finance |
166,799,600 IDR |
Financial Project Manager |
Accounting and Finance |
217,198,400 IDR |
Financial Quantitative Analyst |
Accounting and Finance |
184,799,000 IDR |
Financial Reporting Consultant |
Accounting and Finance |
159,601,400 IDR |
Financial Reporting Manager |
Accounting and Finance |
205,201,300 IDR |
Financial Section Head |
Accounting and Finance |
207,600,200 IDR |
Financial Services Manager |
Accounting and Finance |
261,598,900 IDR |
Financial Services Sales Agent |
Accounting and Finance |
118,559,700 IDR |
Fixed Assets Administrator |
Accounting and Finance |
113,761,800 IDR |
Forensic Accountant |
Accounting and Finance |
129,601,700 IDR |
Fraud Detection Supervisor |
Accounting and Finance |
130,799,600 IDR |
Fraud Prevention Manager |
Accounting and Finance |
215,998,500 IDR |
Fund Accountant |
Accounting and Finance |
101,281,000 IDR |
Grants Coordinator |
Accounting and Finance |
77,881,500 IDR |
Group Financial Manager |
Accounting and Finance |
302,399,700 IDR |
Internal Auditor |
Accounting and Finance |
139,199,500 IDR |
Internal Control Adviser |
Accounting and Finance |
165,599,600 IDR |
Internal Control Officer |
Accounting and Finance |
92,158,600 IDR |
International Tax Director |
Accounting and Finance |
256,799,900 IDR |
Inventory Accountant |
Accounting and Finance |
110,879,600 IDR |
Investment Advisor |
Accounting and Finance |
284,398,600 IDR |
Investment Analyst |
Accounting and Finance |
209,999,300 IDR |
Investment Associate |
Accounting and Finance |
182,401,400 IDR |
Investment Broker |
Accounting and Finance |
178,800,800 IDR |
Investment Fund Manager |
Accounting and Finance |
242,398,700 IDR |
Investment Operations Manager |
Accounting and Finance |
237,598,200 IDR |
Investment Underwriter |
Accounting and Finance |
92,641,100 IDR |
Investor |
Accounting and Finance |
139,199,500 IDR |
Investor Relations Manager |
Accounting and Finance |
217,198,400 IDR |
KYC Team Leader |
Accounting and Finance |
217,198,400 IDR |
Loan Processor |
Accounting and Finance |
91,560,700 IDR |
Management Accountant |
Accounting and Finance |
119,518,500 IDR |
Management Economist |
Accounting and Finance |
250,801,100 IDR |
Paymaster |
Accounting and Finance |
90,840,700 IDR |
Payroll Administrator |
Accounting and Finance |
140,401,100 IDR |
Payroll Benefits Coordinator |
Accounting and Finance |
112,801,600 IDR |
Payroll Billing Manager |
Accounting and Finance |
187,198,300 IDR |
Payroll Clerk |
Accounting and Finance |
93,118,500 IDR |
Payroll Manager |
Accounting and Finance |
195,600,300 IDR |
Payroll Officer |
Accounting and Finance |
89,041,300 IDR |
Payroll Specialist |
Accounting and Finance |
106,561,500 IDR |
Payroll Supervisor |
Accounting and Finance |
136,800,100 IDR |
Pensions Administrator |
Accounting and Finance |
113,999,200 IDR |
Personal Financial Advisor |
Accounting and Finance |
164,398,100 IDR |
Pricing Analyst |
Accounting and Finance |
177,599,600 IDR |
Private Equity Analyst |
Accounting and Finance |
197,998,100 IDR |
Project Accountant |
Accounting and Finance |
119,640,400 IDR |
Proposal Development Coordinator |
Accounting and Finance |
95,759,900 IDR |
Receivables Accountant |
Accounting and Finance |
98,400,200 IDR |
Regulatory Accountant |
Accounting and Finance |
113,038,500 IDR |
Retirement Plan Analyst |
Accounting and Finance |
167,999,600 IDR |
Revenue Management Specialist |
Accounting and Finance |
175,200,500 IDR |
Revenue Recognition Analyst |
Accounting and Finance |
205,201,300 IDR |
Risk Management Director |
Accounting and Finance |
257,999,600 IDR |
Risk Management Supervisor |
Accounting and Finance |
212,398,500 IDR |
Staff Accountant |
Accounting and Finance |
104,040,600 IDR |
Tax Accountant |
Accounting and Finance |
98,161,500 IDR |
Tax Administrator |
Accounting and Finance |
113,159,000 IDR |
Tax Advisor |
Accounting and Finance |
159,601,400 IDR |
Tax Analyst |
Accounting and Finance |
159,601,400 IDR |
Tax Associate |
Accounting and Finance |
88,321,100 IDR |
Tax Consultant |
Accounting and Finance |
166,799,600 IDR |
Tax Director |
Accounting and Finance |
242,398,700 IDR |
Tax Examiner |
Accounting and Finance |
119,280,600 IDR |
Tax Manager |
Accounting and Finance |
219,601,200 IDR |
Tax Research Manager |
Accounting and Finance |
219,601,200 IDR |
Teller |
Accounting and Finance |
64,198,300 IDR |
Treasury Accountant |
Accounting and Finance |
112,079,000 IDR |
Treasury Analyst |
Accounting and Finance |
170,399,900 IDR |
Underwriter |
Accounting and Finance |
73,681,000 IDR |
Underwriting Assistant |
Accounting and Finance |
69,359,500 IDR |
Vice President of Finance |
Accounting and Finance |
289,201,100 IDR |
Salary Comparison by City
If you want to compare salaries with different cities in Indonesia, you can use the links below to explore the data for each specific city we have researched.
City |
Average Salary |
Bandung |
107,039,100 IDR |
Jakarta |
112,679,000 IDR |
Makasar |
94,201,900 IDR |
Medan |
109,559,500 IDR |
Palembang |
99,480,300 IDR |
Semarang |
101,878,900 IDR |
Surabaya |
115,319,700 IDR |
Surakarta |
91,679,200 IDR |
Tangerang |
104,521,900 IDR |