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Chartered Accountant Average Salary in Monaco 2024

How much money does a person working as Chartered Accountant make in Monaco?


Average Monthly Salary
3,690 EUR
( 44,200 EUR yearly)

LOW
1,880
EUR
AVERAGE
3,690
EUR
HIGH
5,680
EUR
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 as Chartered Accountant in Monaco typically earns around 3,690 EUR. Salaries range from 1,880 EUR (lowest) to 5,680 EUR (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Chartered Accountant salaries in Monaco vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Chartered Accountant Pay Scale and Salaries in Monaco

Median and salary distribution Monaco Chartered Accountant monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
3,370 EUR or more
10% of people earn
2,990 to 3,370 EUR
20% of people earn
2,160 EUR or less
65% of people earn
2,160 to 2,990 EUR
Minimum Salary
1,880 EUR
Median
3,380 EUR
Maximum
5,680 EUR




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 for the position Chartered Accountant in Monaco range from 1,880 EUR (starting salary) to 5,680 EUR (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 3,380 EUR, half of the professionals who work as Chartered Accountant in Monaco earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Chartered Accountant in Monaco earn less than 2,790 EUR, while 75% earn more. Similarly, the chart shows that 75% earn less than 3,850 EUR while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Chartered Accountant in Monaco compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 2,160 EUR to 2,990 EUR. About 20% of salaries are below the 2,160 EUR mark, while 10% fall within the range of 2,990 EUR to 3,370 EUR. Only 5% of individuals have salaries exceeding 3,370 EUR.

Salary Comparison by Years of Experience / Chartered Accountant / Monaco

How do experience and age affect pay?

0 - 2 Years
2,110 EUR
2 - 5 Years+31%
2,750 EUR
5 - 10 Years+40%
3,850 EUR
10 - 15 Years+20%
4,630 EUR
15 - 20 Years+9%
5,030 EUR
20+ Years+8%
5,430 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Monaco Chartered Accountant
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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. We broke down salaries by experience level for people working as Chartered Accountant and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 2,110 EUR.

While someone with an experience level between two and five years is expected to earn 2,750 EUR, 31% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 3,850 EUR, 40% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 4,630 EUR, 20% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 5,030 EUR, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 5,430 EUR, 8% more than people with fifteen to twenty years of experience.

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.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Chartered Accountant / Monaco

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Chartered Accountant.

Certificate or Diploma
2,410 EUR
Bachelor's Degree+50%
3,630 EUR
Master's Degree+48%
5,370 EUR
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Monaco Chartered Accountant
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Chartered Accountant in order to make a comparison.


Level 1: Certificate or Diploma

Employees at this education level have an average salary of 2,410 EUR.


Level 2: Bachelor's Degree

At this level, the average salary becomes 3,630 EUR, 50% more than the previous level.


Level 3: Master's Degree

At this level, the average salary becomes 5,370 EUR, 48% more than the previous level.



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 Monaco costs anywhere from 21,300 EUR to 63,800 EUR 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 to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Chartered Accountant / Monaco

Salary comparison by gender Monaco Chartered Accountant 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? For the people who work as Chartered Accountant in Monaco, the average difference between the salary of male and female employees is 16%.

Male
3,980 EUR
Female-14%
3,420 EUR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Monaco for all Careers

Salary comparison by gender monthly Monaco
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Average Annual Salary Increment Percentage / Chartered Accountant / Monaco

How much are annual salary increments in Monaco for individuals working as Chartered Accountant? How often do employees get salary raises?

Individuals working as Chartered Accountant in Monaco are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.

Annual Salary Increment Rate Monaco Chartered Accountant
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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.

Monaco / All Professions

Annual Salary Increment Rate Monaco
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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 Monaco 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 / Chartered Accountant / Monaco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Monaco Chartered Accountant
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64% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 36% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
36%
No Bonus
64%

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.

Average Hourly Wage / Chartered Accountant / Monaco


21 EUR per hour

The average hourly wage (pay per hour) for individuals working as Chartered Accountant in Monaco is 21 EUR.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 as Chartered Accountant in Monaco is 11 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Accounting and Finance-100%
Account Examiner2,360 EUR-36%
Account Executive3,710 EUR+1%
Accountant2,920 EUR-21%
Accounting Analyst3,890 EUR+6%
Accounting Assistant2,450 EUR-34%
Accounting Associate2,410 EUR-35%
Accounting Clerk1,980 EUR-46%
Accounting Coordinator2,770 EUR-25%
Accounting Head5,700 EUR+55%
Accounting Manager6,160 EUR+67%
Accounting Officer2,340 EUR-37%
Accounting Specialist4,200 EUR+14%
Accounting Supervisor4,250 EUR+15%
Accounting Technician2,220 EUR-40%
Accounting Unit Controller4,900 EUR+33%
Accounts Executive3,660 EUR-1%
Accounts Officer2,420 EUR-34%
Accounts Payable and Receivable Specialist3,110 EUR-16%
Accounts Payable Assistant2,630 EUR-29%
Accounts Payable Associate2,800 EUR-24%
Accounts Payable Clerk2,460 EUR-33%
Accounts Payable Manager5,660 EUR+54%
Accounts Receivable Administrator4,240 EUR+15%
Accounts Receivable Clerk2,420 EUR-34%
Accounts Receivable Financial Analyst4,100 EUR+11%
Accounts Receivable Manager5,480 EUR+49%
Accounts Receivable Team Leader4,460 EUR+21%
Algorithmic Trading Specialist5,150 EUR+40%
Assistant Accountant2,380 EUR-35%
Assistant Accounting Manager5,580 EUR+51%
Assistant Auditor3,040 EUR-18%
Assistant Corporate Controller4,280 EUR+16%
Assistant Finance Manager6,190 EUR+68%
Assistant Financial Controller4,110 EUR+11%
Audit Director6,870 EUR+86%
Audit Supervisor5,220 EUR+42%
Auditing Clerk2,420 EUR-34%
Auditing Manager6,320 EUR+71%
Billing Clerk2,360 EUR-36%
Billing Coordinator2,870 EUR-22%
Billing Specialist3,270 EUR-11%
Billing Supervisor4,390 EUR+19%
Bookkeeper2,150 EUR-42%
Bookkeeping Specialist2,910 EUR-21%
Budget Analyst5,330 EUR+45%
Budget Manager5,970 EUR+62%
Business Support Analyst3,390 EUR-8%
Capital Markets Associate4,290 EUR+16%
Cash Flow Analyst4,640 EUR+26%
Cash Management Manager5,640 EUR+53%
Cash Management Officer3,550 EUR-4%
Cashbook Clerk2,110 EUR-43%
Chartered Accountant3,690 EUR+0%
Chief Accountant4,610 EUR+25%
Chief Financial Technology Officer6,270 EUR+70%
Collections Clerk2,050 EUR-44%
Collections Representative2,630 EUR-29%
Collections Specialist3,040 EUR-18%
Corporate Controller4,830 EUR+31%
Corporate Treasurer5,440 EUR+48%
Cost Accountant3,210 EUR-13%
Cost Accounting Manager5,880 EUR+59%
Cost Accounting Supervisor4,600 EUR+25%
Cost Analyst4,510 EUR+22%
Credit and Collection Manager5,800 EUR+57%
Credit and Collection Staff2,480 EUR-33%
Credit and Loans Officer2,300 EUR-38%
Credit Controller4,130 EUR+12%
Credit Manager6,310 EUR+71%
Debt Adviser4,920 EUR+33%
Debt Collector2,660 EUR-28%
Debtors Clerk2,290 EUR-38%
Debtors Controller2,340 EUR-37%
Deputy CFO7,710 EUR+110%
Deputy Head of Finance7,580 EUR+110%
Derivative Trader5,220 EUR+42%
Director of Finance8,300 EUR+130%
E-commerce Accountant3,070 EUR-17%
Economist6,880 EUR+87%
Equity Analyst5,350 EUR+45%
Escrow Assistant2,730 EUR-26%
Executive Accountant3,550 EUR-4%
External Auditor4,120 EUR+12%
Finance Administrator3,560 EUR-3%
Finance Analyst5,220 EUR+42%
Finance Associate2,850 EUR-23%
Finance Data Analyst4,880 EUR+32%
Finance Director8,390 EUR+130%
Finance Executive6,080 EUR+65%
Finance Licensing Clerk2,350 EUR-36%
Finance Licensing Manager5,370 EUR+46%
Finance Licensing Specialist3,310 EUR-10%
Finance Manager8,320 EUR+130%
Finance Officer2,830 EUR-23%
Finance President8,640 EUR+130%
Finance Relationship Manager6,410 EUR+74%
Finance Release Analyst3,520 EUR-5%
Finance Specialist4,760 EUR+29%
Finance Team Leader 6,460 EUR+75%
Financial Accountant3,040 EUR-18%
Financial Actuary4,730 EUR+28%
Financial Administrator5,070 EUR+38%
Financial Advisor5,420 EUR+47%
Financial Analyst5,300 EUR+44%
Financial Applications Specialist3,900 EUR+6%
Financial Assistant2,480 EUR-33%
Financial Associate2,830 EUR-23%
Financial Claims Analyst4,060 EUR+10%
Financial Claims Manager5,490 EUR+49%
Financial Claims Supervisor4,830 EUR+31%
Financial Clerk2,490 EUR-32%
Financial Commercial Analyst4,170 EUR+13%
Financial Compliance Analyst4,650 EUR+26%
Financial Compliance Officer4,520 EUR+23%
Financial Consultant3,860 EUR+5%
Financial Controller4,770 EUR+29%
Financial Coordinator2,840 EUR-23%
Financial Customer Service Manager5,260 EUR+43%
Financial Data Scientist5,480 EUR+49%
Financial Dealer and Broker3,170 EUR-14%
Financial Director8,420 EUR+130%
Financial Encoder2,630 EUR-29%
Financial Manager8,450 EUR+130%
Financial Modelling Analyst5,530 EUR+50%
Financial Operations Manager7,430 EUR+100%
Financial Policy Analyst4,650 EUR+26%
Financial Project Manager6,090 EUR+65%
Financial Quantitative Analyst4,910 EUR+33%
Financial Reporting Consultant4,430 EUR+20%
Financial Reporting Manager5,660 EUR+54%
Financial Section Head5,830 EUR+58%
Financial Services Manager7,280 EUR+97%
Financial Services Sales Agent3,210 EUR-13%
Financial Technology Consultant4,610 EUR+25%
Financial Wellness Coach6,170 EUR+67%
FinTech Analyst4,930 EUR+34%
Fixed Assets Administrator3,220 EUR-13%
Forensic Accountant3,380 EUR-8%
Fraud Detection Supervisor3,810 EUR+3%
Fraud Prevention Manager5,740 EUR+56%
Fund Accountant2,980 EUR-19%
Grants Coordinator2,470 EUR-33%
Green Finance Analyst4,580 EUR+24%
Group Financial Manager8,570 EUR+130%
Internal Auditor4,110 EUR+11%
Internal Control Adviser4,770 EUR+29%
Internal Control Officer2,620 EUR-29%
International Tax Director7,240 EUR+96%
Inventory Accountant3,060 EUR-17%
Investment Advisor8,100 EUR+120%
Investment Analyst5,730 EUR+55%
Investment Associate5,160 EUR+40%
Investment Broker5,120 EUR+39%
Investment Fund Manager6,370 EUR+73%
Investment Operations Manager6,320 EUR+71%
Investment Underwriter2,730 EUR-26%
Investor3,940 EUR+7%
Investor Relations Manager5,620 EUR+52%
KYC Team Leader5,720 EUR+55%
Loan Processor2,640 EUR-28%
Management Accountant3,290 EUR-11%
Management Economist6,460 EUR+75%
Paymaster2,460 EUR-33%
Payroll Administrator4,130 EUR+12%
Payroll Benefits Coordinator3,350 EUR-9%
Payroll Billing Manager5,560 EUR+51%
Payroll Clerk2,680 EUR-27%
Payroll Manager5,510 EUR+49%
Payroll Officer2,660 EUR-28%
Payroll Specialist3,260 EUR-12%
Payroll Supervisor3,720 EUR+1%
Pensions Administrator3,100 EUR-16%
Personal Financial Advisor4,410 EUR+20%
Pricing Analyst5,030 EUR+36%
Private Equity Analyst5,000 EUR+36%
Project Accountant3,290 EUR-11%
Proposal Development Coordinator2,650 EUR-28%
Quantitative Trader4,370 EUR+19%
Receivables Accountant2,920 EUR-21%
Regulatory Accountant3,330 EUR-10%
Retirement Plan Analyst4,830 EUR+31%
Revenue Management Specialist4,720 EUR+28%
Revenue Recognition Analyst5,640 EUR+53%
Risk Management Director7,210 EUR+96%
Risk Management Supervisor5,660 EUR+54%
Staff Accountant3,080 EUR-16%
Tax Accountant2,830 EUR-23%
Tax Administrator3,370 EUR-9%
Tax Advisor4,370 EUR+19%
Tax Analyst4,560 EUR+24%
Tax Associate2,690 EUR-27%
Tax Consultant4,930 EUR+34%
Tax Director6,630 EUR+80%
Tax Examiner3,200 EUR-13%
Tax Manager6,080 EUR+65%
Tax Research Manager5,730 EUR+55%
Teller1,970 EUR-47%
Treasury Accountant3,190 EUR-13%
Treasury Analyst4,710 EUR+28%
Underwriter2,280 EUR-38%
Underwriting Assistant2,040 EUR-45%
Vice President of Finance8,080 EUR+120%

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 Monaco is 10% on average across all career fields.

Private Sector
4,130 EUR
Public Sector+10%
4,550 EUR
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 for the job title Chartered Accountant in Monaco?

A good and competitive compensation would range anywhere between 3,380 EUR and 3,850 EUR. 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 a careers like Chartered Accountant in Monaco ranges from 1,880 EUR to 2,790 EUR. 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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