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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
156,000 KES
( 1,870,000 KES yearly)

LOW
71,400
KES
AVERAGE
156,000
KES
HIGH
331,000
KES

A person working in Accounting and Finance in Mombasa typically earns around 156,000 KES per month. Salaries range from 71,400 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 Examiner97,000 KES
Account Executive142,000 KES
Accountant101,000 KES
Accounting Assistant95,800 KES
Accounting Associate105,000 KES
Accounting Clerk76,400 KES
Accounting Coordinator87,100 KES
Accounting Manager208,000 KES
Accounting Supervisor142,000 KES
Accounting Technician89,300 KES
Accounts Executive136,000 KES
Accounts Payable and Receivable Specialist125,000 KES
Accounts Payable Clerk80,400 KES
Accounts Payable Manager161,000 KES
Accounts Receivable Clerk84,000 KES
Accounts Receivable Manager166,000 KES
Assistant Accounting Manager131,000 KES
Assistant Auditor112,000 KES
Audit Supervisor205,000 KES
Auditing Clerk103,000 KES
Auditing Manager204,000 KES
Billing Coordinator126,000 KES
Billing Specialist115,000 KES
Billing Supervisor150,000 KES
Bookkeeper81,700 KES
Bookkeeping Specialist102,000 KES
Budget Analyst125,000 KES
Budget Manager180,000 KES
Business Support Analyst137,000 KES
Capital Markets Associate166,000 KES
Cash Flow Analyst150,000 KES
Cash Management Officer137,000 KES
Cashbook Clerk94,000 KES
Chartered Accountant137,000 KES
Collections Clerk74,900 KES
Collections Specialist98,700 KES
Corporate Treasurer261,000 KES
Cost Accountant128,000 KES
Cost Accounting Manager156,000 KES
Cost Analyst160,000 KES
Credit and Collection Manager174,000 KES
Credit and Collection Staff85,900 KES
Credit and Loans Officer89,000 KES
Credit Controller150,000 KES
Debt Adviser182,000 KES
Debt Collector127,000 KES
Debtors Clerk109,000 KES
Deputy CFO255,000 KES
Derivative Trader209,000 KES
Escrow Assistant123,000 KES
External Auditor148,000 KES
Finance Associate118,000 KES
Finance Executive238,000 KES
Finance Licensing Clerk96,100 KES
Finance Licensing Manager152,000 KES
Finance Licensing Specialist118,000 KES
Finance Officer171,000 KES
Finance President307,000 KES
Finance Relationship Manager210,000 KES
Finance Release Analyst144,000 KES
Finance Team Leader 168,000 KES
Financial Actuary154,000 KES
Financial Administrator134,000 KES
Financial Analyst156,000 KES
Financial Applications Specialist107,000 KES
Financial Assistant95,600 KES
Financial Associate117,000 KES
Financial Claims Analyst147,000 KES
Financial Claims Manager165,000 KES
Financial Commercial Analyst129,000 KES
Financial Compliance Analyst158,000 KES
Financial Consultant149,000 KES
Financial Controller145,000 KES
Financial Coordinator128,000 KES
Financial Customer Service Manager183,000 KES
Financial Dealer and Broker135,000 KES
Financial Encoder90,100 KES
Financial Manager295,000 KES
Financial Operations Manager211,000 KES
Financial Policy Analyst153,000 KES
Financial Project Manager140,000 KES
Financial Quantitative Analyst171,000 KES
Financial Reporting Consultant155,000 KES
Financial Reporting Manager186,000 KES
Financial Services Sales Agent138,000 KES
Fixed Assets Administrator118,000 KES
Forensic Accountant118,000 KES
Fraud Detection Supervisor141,000 KES
Fraud Prevention Manager212,000 KES
Fund Accountant108,000 KES
Grants Coordinator98,800 KES
Internal Auditor164,000 KES
Internal Control Adviser158,000 KES
Internal Control Officer132,000 KES
Inventory Accountant237,000 KES
Investment Analyst204,000 KES
Investment Fund Manager206,000 KES
Investment Underwriter91,100 KES
Investor145,000 KES
Investor Relations Manager191,000 KES
KYC Team Leader175,000 KES
Management Economist170,000 KES
Paymaster112,000 KES
Payroll Clerk85,600 KES
Payroll Manager159,000 KES
Pensions Administrator119,000 KES
Pricing Analyst173,000 KES
Private Equity Analyst175,000 KES
Proposal Development Coordinator117,000 KES
Receivables Accountant102,000 KES
Regulatory Accountant116,000 KES
Retirement Plan Analyst154,000 KES
Revenue Management Specialist128,000 KES
Revenue Recognition Analyst190,000 KES
Risk Management Director233,000 KES
Risk Management Supervisor177,000 KES
Tax Accountant112,000 KES
Tax Advisor155,000 KES
Tax Associate119,000 KES
Tax Manager231,000 KES
Teller70,400 KES
Treasury Accountant116,000 KES
Treasury Analyst158,000 KES
Underwriter86,400 KES
Underwriting Assistant86,200 KES
Vice President of Finance217,000 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 71,400 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 169,000 KES per month, which means that half (50%) of people working in Accounting and Finance are earning less than 169,000 KES while the other half are earning more than 169,000 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 108,000 KES while 75% of them are earning more than 108,000 KES. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 270,000 KES while 25% are earning more than 270,000 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 740,000 Kenyan Shilling(s) to 2,220,000 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 earn 13% more than their female counterparts.

Female
136,000 KES
Male+13%
155,000 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

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 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.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Kenya
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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.

Private Sector
141,000 KES
Public Sector+14%
160,000 KES
Percentage increase and decrease are relative to the previous value

Accounting and Finance Salary Forecast and Trend in Kenya

How do Accounting and Finance salaries change over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Kenya Accounting and Finance
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Average Salary 2016
127,000 KES
Average Salary 2017+4%
132,000 KES
Average Salary 2018+2%
134,000 KES
Average Salary 2019+3%
138,000 KES
Percentage increase and decrease are relative to the previous value

Accounting and Finance salaries in Kenya are rising in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 3% higher than those of 2018. The trend suggests a slow yet continuous increase in pay in 2021 and future years. These numbers may vary from industry to another.

Accounting and Finance Hourly Average Wage in Mombasa


900 KES per hour

The average hourly wage (pay per hour) in Mombasa is 900 KES. This means that the average person in Mombasa earns approximately 900 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% less 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
Kisumu139,000 KES
Mombasa156,000 KES
Nairobi171,000 KES
94031 - 11

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