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Accounting and Finance Average Salaries in Seoul 2024

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


Average Monthly Salary
4,530,000 KRW
( 54,300,000 KRW yearly)

LOW
1,820,000
KRW
AVERAGE
4,530,000
KRW
HIGH
9,020,000
KRW
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 Seoul typically earns around 4,530,000 KRW. Salaries range from 1,820,000 KRW (lowest average) to 9,020,000 KRW (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 Seoul 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 Examiner2,320,000 KRW
Account Executive3,810,000 KRW
Accountant2,990,000 KRW
Accounting Analyst3,760,000 KRW
Accounting Assistant2,420,000 KRW
Accounting Associate2,260,000 KRW
Accounting Clerk1,880,000 KRW
Accounting Coordinator2,790,000 KRW
Accounting Head6,030,000 KRW
Accounting Manager6,490,000 KRW
Accounting Officer2,340,000 KRW
Accounting Specialist4,420,000 KRW
Accounting Supervisor4,180,000 KRW
Accounting Technician2,110,000 KRW
Accounting Unit Controller5,290,000 KRW
Accounts Executive3,850,000 KRW
Accounts Officer2,390,000 KRW
Accounts Payable and Receivable Specialist3,040,000 KRW
Accounts Payable Assistant2,560,000 KRW
Accounts Payable Associate2,950,000 KRW
Accounts Payable Clerk2,350,000 KRW
Accounts Payable Manager6,440,000 KRW
Accounts Receivable Administrator4,360,000 KRW
Accounts Receivable Clerk2,270,000 KRW
Accounts Receivable Financial Analyst4,570,000 KRW
Accounts Receivable Manager6,130,000 KRW
Accounts Receivable Team Leader4,700,000 KRW
Algorithmic Trading Specialist5,260,000 KRW
Assistant Accountant2,370,000 KRW
Assistant Accounting Manager6,020,000 KRW
Assistant Auditor2,990,000 KRW
Assistant Corporate Controller4,130,000 KRW
Assistant Finance Manager6,530,000 KRW
Assistant Financial Controller4,410,000 KRW
Audit Director7,110,000 KRW
Audit Supervisor5,560,000 KRW
Auditing Clerk2,390,000 KRW
Auditing Manager6,550,000 KRW
Billing Clerk2,270,000 KRW
Billing Coordinator2,810,000 KRW
Billing Specialist3,200,000 KRW
Billing Supervisor4,800,000 KRW
Bookkeeper2,140,000 KRW
Bookkeeping Specialist2,870,000 KRW
Budget Analyst5,220,000 KRW
Budget Manager6,470,000 KRW
Business Support Analyst3,370,000 KRW
Capital Markets Associate4,670,000 KRW
Cash Flow Analyst4,890,000 KRW
Cash Management Manager5,990,000 KRW
Cash Management Officer3,600,000 KRW
Cashbook Clerk2,190,000 KRW
Chartered Accountant4,130,000 KRW
Chief Accountant4,680,000 KRW
Chief Financial Technology Officer6,600,000 KRW
Collections Clerk1,890,000 KRW
Collections Representative2,740,000 KRW
Collections Specialist3,190,000 KRW
Corporate Controller4,970,000 KRW
Corporate Treasurer5,980,000 KRW
Cost Accountant3,040,000 KRW
Cost Accounting Manager6,420,000 KRW
Cost Accounting Supervisor4,840,000 KRW
Cost Analyst4,820,000 KRW
Credit and Collection Manager6,270,000 KRW
Credit and Collection Staff2,330,000 KRW
Credit and Loans Officer2,260,000 KRW
Credit Controller4,410,000 KRW
Credit Manager6,720,000 KRW
Debt Adviser5,400,000 KRW
Debt Collector2,460,000 KRW
Debtors Clerk2,140,000 KRW
Debtors Controller2,340,000 KRW
Deputy CFO8,310,000 KRW
Deputy Head of Finance8,870,000 KRW
Derivative Trader5,210,000 KRW
Director of Finance9,160,000 KRW
E-commerce Accountant3,210,000 KRW
Economist7,350,000 KRW
Equity Analyst5,390,000 KRW
Escrow Assistant2,690,000 KRW
Executive Accountant3,380,000 KRW
External Auditor4,550,000 KRW
Finance Administrator3,620,000 KRW
Finance Analyst5,580,000 KRW
Finance Associate2,790,000 KRW
Finance Data Analyst5,180,000 KRW
Finance Director8,840,000 KRW
Finance Executive6,900,000 KRW
Finance Licensing Clerk2,320,000 KRW
Finance Licensing Manager5,760,000 KRW
Finance Licensing Specialist3,370,000 KRW
Finance Manager8,690,000 KRW
Finance Officer2,880,000 KRW
Finance President8,800,000 KRW
Finance Relationship Manager7,360,000 KRW
Finance Release Analyst3,720,000 KRW
Finance Specialist5,300,000 KRW
Finance Team Leader 6,970,000 KRW
Financial Accountant3,150,000 KRW
Financial Actuary4,570,000 KRW
Financial Administrator5,110,000 KRW
Financial Advisor5,430,000 KRW
Financial Analyst5,490,000 KRW
Financial Applications Specialist4,080,000 KRW
Financial Assistant2,460,000 KRW
Financial Associate2,510,000 KRW
Financial Associate2,960,000 KRW
Financial Claims Analyst4,090,000 KRW
Financial Claims Manager5,590,000 KRW
Financial Claims Supervisor5,360,000 KRW
Financial Clerk2,380,000 KRW
Financial Commercial Analyst4,420,000 KRW
Financial Compliance Analyst4,920,000 KRW
Financial Compliance Officer4,740,000 KRW
Financial Consultant4,330,000 KRW
Financial Controller5,010,000 KRW
Financial Controller5,030,000 KRW
Financial Coordinator2,950,000 KRW
Financial Customer Service Manager5,520,000 KRW
Financial Data Scientist5,760,000 KRW
Financial Dealer and Broker3,520,000 KRW
Financial Director8,810,000 KRW
Financial Encoder2,680,000 KRW
Financial Manager8,280,000 KRW
Financial Manager8,550,000 KRW
Financial Modelling Analyst5,750,000 KRW
Financial Operations Manager7,870,000 KRW
Financial Policy Analyst4,660,000 KRW
Financial Project Manager6,660,000 KRW
Financial Quantitative Analyst5,530,000 KRW
Financial Reporting Consultant4,600,000 KRW
Financial Reporting Manager5,740,000 KRW
Financial Section Head5,710,000 KRW
Financial Services Manager8,030,000 KRW
Financial Services Sales Agent3,430,000 KRW
Financial Technology Consultant4,710,000 KRW
Financial Wellness Coach6,350,000 KRW
FinTech Analyst5,510,000 KRW
Fixed Assets Administrator3,210,000 KRW
Forensic Accountant3,710,000 KRW
Fraud Detection Supervisor3,850,000 KRW
Fraud Prevention Manager6,580,000 KRW
Fund Accountant2,880,000 KRW
Grants Coordinator2,330,000 KRW
Green Finance Analyst4,780,000 KRW
Group Financial Manager9,260,000 KRW
Internal Auditor4,070,000 KRW
Internal Control Adviser4,910,000 KRW
Internal Control Officer2,810,000 KRW
International Tax Director7,300,000 KRW
Inventory Accountant3,130,000 KRW
Investment Advisor8,350,000 KRW
Investment Analyst6,370,000 KRW
Investment Associate5,020,000 KRW
Investment Broker5,060,000 KRW
Investment Fund Manager6,900,000 KRW
Investment Operations Manager6,950,000 KRW
Investment Underwriter2,710,000 KRW
Investor3,890,000 KRW
Investor Relations Manager6,270,000 KRW
KYC Team Leader6,110,000 KRW
Loan Processor2,550,000 KRW
Management Accountant3,580,000 KRW
Management Economist7,260,000 KRW
Paymaster2,470,000 KRW
Payroll Administrator4,240,000 KRW
Payroll Benefits Coordinator3,370,000 KRW
Payroll Billing Manager5,770,000 KRW
Payroll Clerk2,620,000 KRW
Payroll Manager5,680,000 KRW
Payroll Officer2,840,000 KRW
Payroll Specialist3,180,000 KRW
Payroll Supervisor4,090,000 KRW
Pensions Administrator3,300,000 KRW
Personal Financial Advisor4,420,000 KRW
Pricing Analyst5,150,000 KRW
Private Equity Analyst5,620,000 KRW
Project Accountant3,360,000 KRW
Proposal Development Coordinator2,770,000 KRW
Quantitative Trader4,370,000 KRW
Receivables Accountant2,970,000 KRW
Regulatory Accountant3,330,000 KRW
Retirement Plan Analyst4,970,000 KRW
Revenue Management Specialist5,340,000 KRW
Revenue Recognition Analyst5,680,000 KRW
Risk Management Director7,200,000 KRW
Risk Management Supervisor6,130,000 KRW
Staff Accountant2,860,000 KRW
Tax Accountant2,970,000 KRW
Tax Administrator3,400,000 KRW
Tax Advisor4,950,000 KRW
Tax Analyst4,630,000 KRW
Tax Associate2,760,000 KRW
Tax Consultant4,990,000 KRW
Tax Director7,490,000 KRW
Tax Examiner3,360,000 KRW
Tax Manager6,540,000 KRW
Tax Research Manager6,110,000 KRW
Teller1,840,000 KRW
Treasury Accountant3,240,000 KRW
Treasury Analyst5,230,000 KRW
Underwriter2,270,000 KRW
Underwriting Assistant1,990,000 KRW
Vice President of Finance8,560,000 KRW


Accounting and Finance Jobs Pay Scale and Salaries in Seoul

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

5% of people earn
4,650,000 KRW or more
10% of people earn
3,940,000 to 4,650,000 KRW
20% of people earn
2,370,000 KRW or less
65% of people earn
2,370,000 to 3,940,000 KRW
Minimum Salary
1,820,000
KRW
Median
4,080,000
KRW
Maximum
9,020,000
KRW




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 Seoul range from 1,820,000 KRW (starting average salary) to 9,020,000 KRW (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 4,080,000 KRW, implying that half of the workforce in Seoul 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 Seoul earn less than 3,190,000 KRW, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,930,000 KRW, 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 Seoul. The analysis revealed that roughly 65% of all reported salaries fell within the range of 2,370,000 KRW to 3,940,000 KRW. Approximately 20% of salaries were below the 2,370,000 KRW mark, while 10% ranged from 3,940,000 KRW to 4,650,000 KRW. Only 5% of individuals earned a gross salary of 4,650,000 KRW 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 Seoul 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 Seoul, 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 Korea (South) costs anywhere from 19,500,000 KRW to 58,500,000 KRW 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 / Seoul

Salary comparison by gender Korea (South) 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 Korea (South), the average difference between the salary of male and female employees is 6%.

Male
4,140,000 KRW
Female-6%
3,910,000 KRW
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Korea (South) for all Careers

Salary comparison by gender monthly Korea (South)
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Average Annual Salary Increment Percentage / Accounting and Finance / Seoul

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

Professionals working in Accounting and Finance in Korea (South) are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate Korea (South) 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.

Korea (South) / All Professions

Annual Salary Increment Rate Korea (South)
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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 Korea (South) is 7%.

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 / Korea (South)

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Korea (South) Accounting and Finance
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100% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.

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

Received Bonus
%
No Bonus
100%

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 / Seoul


26,100 KRW per hour

The average hourly wage (pay per hour) in Accounting and Finance in Seoul is 26,100 KRW.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 Seoul is 10,500 KRW. 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
Bucheon3,740,000 KRW
Busan4,450,000 KRW
Daegu4,290,000 KRW
Daejeon4,210,000 KRW
Goyang3,900,000 KRW
Gwangju4,140,000 KRW
Incheon4,370,000 KRW
Seongnam3,810,000 KRW
Seoul4,530,000 KRW
Suweon4,060,000 KRW
Ulsan3,980,000 KRW

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 Korea (South) is 6% on average across all career fields.

Private Sector
3,780,000 KRW
Public Sector+6%
4,000,000 KRW
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 Seoul?

A good and competitive compensation would range anywhere between 4,080,000 KRW and 4,930,000 KRW. 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 Seoul ranges from 1,820,000 KRW to 3,190,000 KRW. 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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