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Accounting and Finance Average Salaries in Kenya 2024

How much money does a person working in Accounting and Finance make in Kenya?


Average Monthly Salary
152,000 KES
( 1,830,000 KES yearly)

LOW
61,200
KES
AVERAGE
152,000
KES
HIGH
304,000
KES
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Accounting and Finance in Kenya typically earns around 152,000 KES. Salaries range from 61,200 KES (lowest average) to 304,000 KES (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Kenya exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner79,700 KES
Account Executive135,000 KES
Accountant108,000 KES
Accounting Analyst135,000 KES
Accounting Assistant85,100 KES
Accounting Associate80,100 KES
Accounting Clerk64,800 KES
Accounting Coordinator95,700 KES
Accounting Head213,000 KES
Accounting Manager219,000 KES
Accounting Officer82,600 KES
Accounting Specialist153,000 KES
Accounting Supervisor142,000 KES
Accounting Technician71,700 KES
Accounting Unit Controller186,000 KES
Accounts Executive135,000 KES
Accounts Officer80,800 KES
Accounts Payable and Receivable Specialist111,000 KES
Accounts Payable Assistant89,900 KES
Accounts Payable Associate102,000 KES
Accounts Payable Clerk77,400 KES
Accounts Payable Manager208,000 KES
Accounts Receivable Administrator160,000 KES
Accounts Receivable Clerk79,100 KES
Accounts Receivable Financial Analyst148,000 KES
Accounts Receivable Manager209,000 KES
Accounts Receivable Team Leader164,000 KES
Algorithmic Trading Specialist193,000 KES
Assistant Accountant84,600 KES
Assistant Accounting Manager202,000 KES
Assistant Auditor106,000 KES
Assistant Corporate Controller140,000 KES
Assistant Finance Manager224,000 KES
Assistant Financial Controller153,000 KES
Audit Director245,000 KES
Audit Supervisor188,000 KES
Auditing Clerk80,800 KES
Auditing Manager224,000 KES
Billing Clerk83,400 KES
Billing Coordinator101,000 KES
Billing Specialist109,000 KES
Billing Supervisor170,000 KES
Bookkeeper73,900 KES
Bookkeeping Specialist97,800 KES
Budget Analyst177,000 KES
Budget Manager214,000 KES
Business Support Analyst119,000 KES
Capital Markets Associate167,000 KES
Cash Flow Analyst158,000 KES
Cash Management Manager210,000 KES
Cash Management Officer123,000 KES
Cashbook Clerk76,100 KES
Chartered Accountant138,000 KES
Chief Accountant160,000 KES
Chief Financial Technology Officer232,000 KES
Collections Clerk63,400 KES
Collections Representative96,700 KES
Collections Specialist106,000 KES
Corporate Controller177,000 KES
Corporate Treasurer198,000 KES
Cost Accountant107,000 KES
Cost Accounting Manager208,000 KES
Cost Accounting Supervisor165,000 KES
Cost Analyst169,000 KES
Credit and Collection Manager207,000 KES
Credit and Collection Staff81,400 KES
Credit and Loans Officer77,500 KES
Credit Controller154,000 KES
Credit Manager226,000 KES
Debt Adviser180,000 KES
Debt Collector88,700 KES
Debtors Clerk73,800 KES
Debtors Controller82,600 KES
Deputy CFO291,000 KES
Deputy Head of Finance297,000 KES
Derivative Trader176,000 KES
Director of Finance326,000 KES
E-commerce Accountant107,000 KES
Economist243,000 KES
Equity Analyst195,000 KES
Escrow Assistant97,800 KES
Executive Accountant123,000 KES
External Auditor152,000 KES
Finance Administrator121,000 KES
Finance Analyst187,000 KES
Finance Associate91,100 KES
Finance Data Analyst180,000 KES
Finance Director312,000 KES
Finance Executive231,000 KES
Finance Licensing Clerk78,200 KES
Finance Licensing Manager209,000 KES
Finance Licensing Specialist120,000 KES
Finance Manager300,000 KES
Finance Officer105,000 KES
Finance President301,000 KES
Finance Relationship Manager258,000 KES
Finance Release Analyst129,000 KES
Finance Specialist179,000 KES
Finance Team Leader 239,000 KES
Financial Accountant111,000 KES
Financial Actuary156,000 KES
Financial Administrator183,000 KES
Financial Advisor198,000 KES
Financial Analyst192,000 KES
Financial Applications Specialist141,000 KES
Financial Assistant82,900 KES
Financial Associate83,600 KES
Financial Associate106,000 KES
Financial Claims Analyst148,000 KES
Financial Claims Manager198,000 KES
Financial Claims Supervisor186,000 KES
Financial Clerk79,200 KES
Financial Commercial Analyst159,000 KES
Financial Compliance Analyst166,000 KES
Financial Compliance Officer162,000 KES
Financial Consultant145,000 KES
Financial Controller177,000 KES
Financial Controller166,000 KES
Financial Coordinator99,300 KES
Financial Customer Service Manager200,000 KES
Financial Data Scientist192,000 KES
Financial Dealer and Broker114,000 KES
Financial Director322,000 KES
Financial Encoder94,400 KES
Financial Manager308,000 KES
Financial Manager285,000 KES
Financial Modelling Analyst188,000 KES
Financial Operations Manager272,000 KES
Financial Policy Analyst164,000 KES
Financial Project Manager216,000 KES
Financial Quantitative Analyst180,000 KES
Financial Reporting Consultant156,000 KES
Financial Reporting Manager202,000 KES
Financial Section Head195,000 KES
Financial Services Manager283,000 KES
Financial Services Sales Agent118,000 KES
Financial Technology Consultant166,000 KES
Financial Wellness Coach219,000 KES
FinTech Analyst186,000 KES
Fixed Assets Administrator111,000 KES
Forensic Accountant130,000 KES
Fraud Detection Supervisor136,000 KES
Fraud Prevention Manager228,000 KES
Fund Accountant97,900 KES
Grants Coordinator82,400 KES
Green Finance Analyst158,000 KES
Group Financial Manager311,000 KES
Internal Auditor147,000 KES
Internal Control Adviser174,000 KES
Internal Control Officer97,500 KES
International Tax Director257,000 KES
Inventory Accountant114,000 KES
Investment Advisor277,000 KES
Investment Analyst207,000 KES
Investment Associate171,000 KES
Investment Broker178,000 KES
Investment Fund Manager230,000 KES
Investment Operations Manager239,000 KES
Investment Underwriter88,800 KES
Investor137,000 KES
Investor Relations Manager216,000 KES
KYC Team Leader215,000 KES
Loan Processor91,300 KES
Management Accountant117,000 KES
Management Economist250,000 KES
Paymaster88,800 KES
Payroll Administrator147,000 KES
Payroll Benefits Coordinator114,000 KES
Payroll Billing Manager190,000 KES
Payroll Clerk89,100 KES
Payroll Manager189,000 KES
Payroll Officer91,600 KES
Payroll Specialist111,000 KES
Payroll Supervisor133,000 KES
Pensions Administrator114,000 KES
Personal Financial Advisor152,000 KES
Pricing Analyst172,000 KES
Private Equity Analyst185,000 KES
Project Accountant118,000 KES
Proposal Development Coordinator95,500 KES
Quantitative Trader153,000 KES
Receivables Accountant100,000 KES
Regulatory Accountant116,000 KES
Retirement Plan Analyst177,000 KES
Revenue Management Specialist186,000 KES
Revenue Recognition Analyst191,000 KES
Risk Management Director263,000 KES
Risk Management Supervisor218,000 KES
Staff Accountant97,600 KES
Tax Accountant105,000 KES
Tax Administrator116,000 KES
Tax Advisor166,000 KES
Tax Analyst168,000 KES
Tax Associate95,300 KES
Tax Consultant177,000 KES
Tax Director259,000 KES
Tax Examiner114,000 KES
Tax Manager228,000 KES
Tax Research Manager208,000 KES
Teller61,500 KES
Treasury Accountant112,000 KES
Treasury Analyst178,000 KES
Underwriter73,500 KES
Underwriting Assistant69,900 KES
Vice President of Finance304,000 KES


Accounting and Finance Jobs Pay Scale and Salaries in Kenya

Median and salary distribution Kenya Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
155,000 KES or more
10% of people earn
131,000 to 155,000 KES
20% of people earn
79,000 KES or less
65% of people earn
79,000 to 131,000 KES
Minimum Salary
61,200 KES
Median
136,000 KES
Maximum
304,000 KES




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Accounting and Finance in Kenya range from 61,200 KES (starting average salary) to 304,000 KES (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 136,000 KES, implying that half of the workforce in Kenya earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Kenya earn less than 106,000 KES, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 164,000 KES, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Kenya. The analysis revealed that roughly 65% of all reported salaries fell within the range of 79,000 KES to 131,000 KES. Approximately 20% of salaries were below the 79,000 KES mark, while 10% ranged from 131,000 KES to 155,000 KES. Only 5% of individuals earned a gross salary of 155,000 KES or higher.

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.

Generally speaking, employees in Accounting and Finance in Kenya having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.
On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.


Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?

We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Accounting and Finance in Kenya, below are our findings.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Kenya costs anywhere from 737,000 KES to 2,210,000 KES and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / Kenya

Salary comparison by gender Kenya Accounting and Finance monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Accounting and Finance in Kenya, the average difference between the salary of male and female employees is 10%.

Male
161,000 KES
Female-9%
147,000 KES
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Kenya for all Careers

Salary comparison by gender monthly Kenya
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Average Annual Salary Increment Percentage / Accounting and Finance / Kenya

How much are annual salary increments in Kenya for individuals working in Accounting and Finance? How often do employees get salary raises?

Professionals working in Accounting and Finance in Kenya are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Kenya Accounting and Finance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Kenya / All Professions

Annual Salary Increment Rate Kenya
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Kenya is 2%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Accounting and Finance / Kenya

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kenya Accounting and Finance
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42% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
58%
No Bonus
42%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Hourly Average Wage / Accounting and Finance / Kenya


880 KES per hour

The average hourly wage (pay per hour) in Accounting and Finance in Kenya is 880 KES.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Accounting and Finance in Kenya is 350 KES. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
Kisumu148,000 KES
Mombasa166,000 KES
Nairobi182,000 KES

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Kenya is 14% on average across all career fields.

Private Sector
140,000 KES
Public Sector+14%
159,000 KES
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Accounting and Finance in Kenya?

A good and competitive compensation would range anywhere between 136,000 KES and 164,000 KES. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Accounting and Finance in Kenya ranges from 61,200 KES to 106,000 KES. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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