Rare earth magnet and method for manufacturing the same

Rare earth alloy powder having an oxygen content of 50 to 4000 wt. ppm and a nitrogen content of 150 to 1500 wt. ppm is compacted by dry pressing to produce a compact. The compact is impregnated with an oil agent and then sintered. The sintering process includes a first step of retaining the compact at a temperature of 700° C. to less than 1000° C. for a period of time of 10 to 420 minutes and a second step of permitting proceeding of sintering at a temperature of 1000° C. to 1200° C. The average crystal grain size of the rare earth magnet after the sintering is controlled to be 3 μm to 9 μm.