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Accounting and Finance Average Salaries in Mombasa 2020

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


Average Monthly Salary
165,000 KES
( 1,980,000 KES yearly)

LOW
66,700
KES
AVERAGE
165,000
KES
HIGH
331,000
KES

A person working in Accounting and Finance in Mombasa typically earns around 165,000 KES per month. Salaries range from 66,700 KES (lowest average) to 331,000 KES (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Account Examiner83,100 KES
Account Executive135,000 KES
Accountant103,000 KES
Accounting Assistant79,600 KES
Accounting Associate79,000 KES
Accounting Clerk65,500 KES
Accounting Coordinator99,700 KES
Accounting Manager238,000 KES
Accounting Supervisor147,000 KES
Accounting Technician72,100 KES
Accounts Executive144,000 KES
Accounts Payable and Receivable Specialist115,000 KES
Accounts Payable Clerk82,300 KES
Accounts Payable Manager216,000 KES
Accounts Receivable Clerk80,200 KES
Accounts Receivable Manager207,000 KES
Assistant Accounting Manager203,000 KES
Assistant Auditor108,000 KES
Audit Supervisor201,000 KES
Auditing Clerk86,700 KES
Auditing Manager218,000 KES
Billing Coordinator99,700 KES
Billing Specialist111,000 KES
Billing Supervisor170,000 KES
Bookkeeper72,300 KES
Bookkeeping Specialist98,400 KES
Budget Analyst187,000 KES
Budget Manager221,000 KES
Business Support Analyst121,000 KES
Capital Markets Associate170,000 KES
Cash Flow Analyst159,000 KES
Cash Management Officer118,000 KES
Cashbook Clerk72,200 KES
Chartered Accountant143,000 KES
Collections Clerk63,500 KES
Collections Specialist107,000 KES
Corporate Treasurer201,000 KES
Cost Accountant112,000 KES
Cost Accounting Manager206,000 KES
Cost Analyst180,000 KES
Credit and Collection Manager214,000 KES
Credit and Collection Staff82,500 KES
Credit and Loans Officer80,700 KES
Credit Controller154,000 KES
Debt Adviser174,000 KES
Debt Collector83,700 KES
Debtors Clerk73,400 KES
Deputy CFO286,000 KES
Derivative Trader183,000 KES
Escrow Assistant97,200 KES
External Auditor145,000 KES
Finance Associate95,000 KES
Finance Executive219,000 KES
Finance Licensing Clerk78,400 KES
Finance Licensing Manager205,000 KES
Finance Licensing Specialist115,000 KES
Finance Officer102,000 KES
Finance President320,000 KES
Finance Relationship Manager250,000 KES
Finance Release Analyst126,000 KES
Finance Team Leader 249,000 KES
Financial Actuary168,000 KES
Financial Administrator184,000 KES
Financial Analyst191,000 KES
Financial Applications Specialist140,000 KES
Financial Assistant89,000 KES
Financial Associate90,700 KES
Financial Claims Analyst149,000 KES
Financial Claims Manager195,000 KES
Financial Commercial Analyst152,000 KES
Financial Compliance Analyst178,000 KES
Financial Consultant150,000 KES
Financial Controller173,000 KES
Financial Coordinator97,900 KES
Financial Customer Service Manager199,000 KES
Financial Dealer and Broker116,000 KES
Financial Encoder96,100 KES
Financial Manager291,000 KES
Financial Operations Manager266,000 KES
Financial Policy Analyst170,000 KES
Financial Project Manager214,000 KES
Financial Quantitative Analyst191,000 KES
Financial Reporting Consultant162,000 KES
Financial Reporting Manager209,000 KES
Financial Services Sales Agent119,000 KES
Fixed Assets Administrator109,000 KES
Forensic Accountant126,000 KES
Fraud Detection Supervisor133,000 KES
Fraud Prevention Manager217,000 KES
Fund Accountant100,000 KES
Grants Coordinator81,300 KES
Internal Auditor151,000 KES
Internal Control Adviser169,000 KES
Internal Control Officer92,500 KES
Inventory Accountant112,000 KES
Investment Analyst223,000 KES
Investment Fund Manager242,000 KES
Investment Underwriter91,100 KES
Investor142,000 KES
Investor Relations Manager218,000 KES
KYC Team Leader201,000 KES
Management Economist253,000 KES
Paymaster85,200 KES
Payroll Clerk89,600 KES
Payroll Manager205,000 KES
Pensions Administrator115,000 KES
Pricing Analyst186,000 KES
Private Equity Analyst200,000 KES
Proposal Development Coordinator96,500 KES
Receivables Accountant100,000 KES
Regulatory Accountant116,000 KES
Retirement Plan Analyst171,000 KES
Revenue Management Specialist176,000 KES
Revenue Recognition Analyst194,000 KES
Risk Management Director253,000 KES
Risk Management Supervisor205,000 KES
Tax Accountant105,000 KES
Tax Advisor172,000 KES
Tax Associate93,300 KES
Tax Manager231,000 KES
Teller65,700 KES
Treasury Accountant113,000 KES
Treasury Analyst176,000 KES
Underwriter72,800 KES
Underwriting Assistant74,500 KES
Vice President of Finance295,000 KES

Accounting and Finance Jobs Salary Distribution in Mombasa

Median and salary distribution monthly Mombasa Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Mombasa range from 66,700 KES per month (minimum average salary) to 331,000 KES per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 178,000 KES per month, which means that half (50%) of people working in Accounting and Finance are earning less than 178,000 KES while the other half are earning more than 178,000 KES. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Accounting and Finance are earning less than 110,000 KES while 75% of them are earning more than 110,000 KES. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 275,000 KES while 25% are earning more than 275,000 KES.


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

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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

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 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.


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.

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.

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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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 degrees levels across many jobs, below are our findings.


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.

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 cerificate 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 734,000 Kenyan Shilling(s) to 2,200,000 Kenyan Shilling(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you 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 into 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 your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender monthly Kenya Accounting and Finance
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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? Male employees in Kenya who work in Accounting and Finance earn 10% more than their female counterparts on average.

Male
160,000 KES
Female-9%
146,000 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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Accounting and Finance Average Annual Salary Increment Percentage in Kenya

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

Accounting and Finance

Accounting and Finance professionals 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

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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%.

Annual Increment Rate By Industry 2019

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

Listed above are the average annual increase rates for each industry in Kenya for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Accounting and Finance Bonus and Incentive Rates in Kenya

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Kenya Accounting and Finance
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Accounting and Finance is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

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.

Accounting and Finance Hourly Average Wage in Mombasa


950 KES per hour

The average hourly wage (pay per hour) in Mombasa is 950 KES. This means that the average person in Mombasa earns approximately 950 KES for every worked hour.


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

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 fix 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.

Accounting and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance monthly Mombasa
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Mombasa VS Kenya

Salary Comparison Between Mombasa and Kenya monthly Accounting and Finance
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We compared Accounting and Finance salaries in Mombasa and Kenya and we found that Mombasa salaries are 9% more than those of Kenya.

Salary Comparison By City

CityAverage Salary
Kisumu147,000 KES
Mombasa165,000 KES
Nairobi180,000 KES

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Kenya earn 14% more than their private sector counterparts on average across all sectors.

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

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