How much money does a person working in Accounting and Finance make in Monaco?
Average Monthly Salary
4,390 EUR
( 52,700 EUR yearly)
LOW
1,950
EUR
AVERAGE
4,390
EUR
HIGH
8,440
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 in Accounting and Finance in Monaco typically earns around 4,390 EUR. Salaries range from 1,950 EUR (lowest average) to 8,440 EUR (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 Monaco 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
Accounting and Finance | |
Account Examiner | 2,360 EUR |
Account Executive | 3,710 EUR |
Accountant | 2,920 EUR |
Accounting Analyst | 3,890 EUR |
|
Accounting Assistant | 2,450 EUR |
Accounting Associate | 2,410 EUR |
Accounting Clerk | 1,980 EUR |
Accounting Coordinator | 2,770 EUR |
Accounting Head | 5,700 EUR |
Accounting Manager | 6,160 EUR |
Accounting Officer | 2,340 EUR |
Accounting Specialist | 4,200 EUR |
Accounting Supervisor | 4,250 EUR |
Accounting Technician | 2,220 EUR |
Accounting Unit Controller | 4,900 EUR |
Accounts Executive | 3,660 EUR |
Accounts Officer | 2,420 EUR |
Accounts Payable and Receivable Specialist | 3,110 EUR |
Accounts Payable Assistant | 2,630 EUR |
Accounts Payable Associate | 2,800 EUR |
Accounts Payable Clerk | 2,460 EUR |
Accounts Payable Manager | 5,660 EUR |
Accounts Receivable Administrator | 4,240 EUR |
Accounts Receivable Clerk | 2,420 EUR |
Accounts Receivable Financial Analyst | 4,100 EUR |
Accounts Receivable Manager | 5,480 EUR |
Accounts Receivable Team Leader | 4,460 EUR |
Algorithmic Trading Specialist | 5,150 EUR |
Assistant Accountant | 2,380 EUR |
Assistant Accounting Manager | 5,580 EUR |
Assistant Auditor | 3,040 EUR |
Assistant Corporate Controller | 4,280 EUR |
Assistant Finance Manager | 6,190 EUR |
Assistant Financial Controller | 4,110 EUR |
Audit Director | 6,870 EUR |
Audit Supervisor | 5,220 EUR |
Auditing Clerk | 2,420 EUR |
Auditing Manager | 6,320 EUR |
Billing Clerk | 2,360 EUR |
Billing Coordinator | 2,870 EUR |
Billing Specialist | 3,270 EUR |
Billing Supervisor | 4,390 EUR |
Bookkeeper | 2,150 EUR |
Bookkeeping Specialist | 2,910 EUR |
Budget Analyst | 5,330 EUR |
Budget Manager | 5,970 EUR |
Business Support Analyst | 3,390 EUR |
Capital Markets Associate | 4,290 EUR |
Cash Flow Analyst | 4,640 EUR |
Cash Management Manager | 5,640 EUR |
Cash Management Officer | 3,550 EUR |
Cashbook Clerk | 2,110 EUR |
Chartered Accountant | 3,690 EUR |
Chief Accountant | 4,610 EUR |
Chief Financial Technology Officer | 6,270 EUR |
Collections Clerk | 2,050 EUR |
Collections Representative | 2,630 EUR |
Collections Specialist | 3,040 EUR |
Corporate Controller | 4,830 EUR |
Corporate Treasurer | 5,440 EUR |
Cost Accountant | 3,210 EUR |
Cost Accounting Manager | 5,880 EUR |
Cost Accounting Supervisor | 4,600 EUR |
Cost Analyst | 4,510 EUR |
Credit and Collection Manager | 5,800 EUR |
Credit and Collection Staff | 2,480 EUR |
Credit and Loans Officer | 2,300 EUR |
Credit Controller | 4,130 EUR |
Credit Manager | 6,310 EUR |
Debt Adviser | 4,920 EUR |
Debt Collector | 2,660 EUR |
Debtors Clerk | 2,290 EUR |
Debtors Controller | 2,340 EUR |
Deputy CFO | 7,710 EUR |
Deputy Head of Finance | 7,580 EUR |
Derivative Trader | 5,220 EUR |
Director of Finance | 8,300 EUR |
E-commerce Accountant | 3,070 EUR |
Economist | 6,880 EUR |
Equity Analyst | 5,350 EUR |
Escrow Assistant | 2,730 EUR |
Executive Accountant | 3,550 EUR |
External Auditor | 4,120 EUR |
Finance Administrator | 3,560 EUR |
Finance Analyst | 5,220 EUR |
Finance Associate | 2,850 EUR |
Finance Data Analyst | 4,880 EUR |
Finance Director | 8,390 EUR |
Finance Executive | 6,080 EUR |
Finance Licensing Clerk | 2,350 EUR |
Finance Licensing Manager | 5,370 EUR |
Finance Licensing Specialist | 3,310 EUR |
Finance Manager | 8,320 EUR |
Finance Officer | 2,830 EUR |
Finance President | 8,640 EUR |
Finance Relationship Manager | 6,410 EUR |
Finance Release Analyst | 3,520 EUR |
Finance Specialist | 4,760 EUR |
Finance Team Leader | 6,460 EUR |
Financial Accountant | 3,040 EUR |
Financial Actuary | 4,730 EUR |
Financial Administrator | 5,070 EUR |
Financial Advisor | 5,420 EUR |
Financial Analyst | 5,300 EUR |
Financial Applications Specialist | 3,900 EUR |
Financial Assistant | 2,480 EUR |
Financial Associate | 2,610 EUR |
Financial Associate | 2,830 EUR |
Financial Claims Analyst | 4,060 EUR |
Financial Claims Manager | 5,490 EUR |
Financial Claims Supervisor | 4,830 EUR |
Financial Clerk | 2,490 EUR |
Financial Commercial Analyst | 4,170 EUR |
Financial Compliance Analyst | 4,650 EUR |
Financial Compliance Officer | 4,520 EUR |
Financial Consultant | 3,860 EUR |
Financial Controller | 4,790 EUR |
Financial Controller | 4,770 EUR |
Financial Coordinator | 2,840 EUR |
Financial Customer Service Manager | 5,260 EUR |
Financial Data Scientist | 5,480 EUR |
Financial Dealer and Broker | 3,170 EUR |
Financial Director | 8,420 EUR |
Financial Encoder | 2,630 EUR |
Financial Manager | 7,690 EUR |
Financial Manager | 8,450 EUR |
Financial Modelling Analyst | 5,530 EUR |
Financial Operations Manager | 7,430 EUR |
Financial Policy Analyst | 4,650 EUR |
Financial Project Manager | 6,090 EUR |
Financial Quantitative Analyst | 4,910 EUR |
Financial Reporting Consultant | 4,430 EUR |
Financial Reporting Manager | 5,660 EUR |
Financial Section Head | 5,830 EUR |
Financial Services Manager | 7,280 EUR |
Financial Services Sales Agent | 3,210 EUR |
Financial Technology Consultant | 4,610 EUR |
Financial Wellness Coach | 6,170 EUR |
FinTech Analyst | 4,930 EUR |
Fixed Assets Administrator | 3,220 EUR |
Forensic Accountant | 3,380 EUR |
Fraud Detection Supervisor | 3,810 EUR |
Fraud Prevention Manager | 5,740 EUR |
Fund Accountant | 2,980 EUR |
Grants Coordinator | 2,470 EUR |
Green Finance Analyst | 4,580 EUR |
Group Financial Manager | 8,570 EUR |
Internal Auditor | 4,110 EUR |
Internal Control Adviser | 4,770 EUR |
Internal Control Officer | 2,620 EUR |
International Tax Director | 7,240 EUR |
Inventory Accountant | 3,060 EUR |
Investment Advisor | 8,100 EUR |
Investment Analyst | 5,730 EUR |
Investment Associate | 5,160 EUR |
Investment Broker | 5,120 EUR |
Investment Fund Manager | 6,370 EUR |
Investment Operations Manager | 6,320 EUR |
Investment Underwriter | 2,730 EUR |
Investor | 3,940 EUR |
Investor Relations Manager | 5,620 EUR |
KYC Team Leader | 5,720 EUR |
Loan Processor | 2,640 EUR |
Management Accountant | 3,290 EUR |
Management Economist | 6,460 EUR |
Paymaster | 2,460 EUR |
Payroll Administrator | 4,130 EUR |
Payroll Benefits Coordinator | 3,350 EUR |
Payroll Billing Manager | 5,560 EUR |
Payroll Clerk | 2,680 EUR |
Payroll Manager | 5,510 EUR |
Payroll Officer | 2,660 EUR |
Payroll Specialist | 3,260 EUR |
Payroll Supervisor | 3,720 EUR |
Pensions Administrator | 3,100 EUR |
Personal Financial Advisor | 4,410 EUR |
Pricing Analyst | 5,030 EUR |
Private Equity Analyst | 5,000 EUR |
Project Accountant | 3,290 EUR |
Proposal Development Coordinator | 2,650 EUR |
Quantitative Trader | 4,370 EUR |
Receivables Accountant | 2,920 EUR |
Regulatory Accountant | 3,330 EUR |
Retirement Plan Analyst | 4,830 EUR |
Revenue Management Specialist | 4,720 EUR |
Revenue Recognition Analyst | 5,640 EUR |
Risk Management Director | 7,210 EUR |
Risk Management Supervisor | 5,660 EUR |
Staff Accountant | 3,080 EUR |
Tax Accountant | 2,830 EUR |
Tax Administrator | 3,370 EUR |
Tax Advisor | 4,370 EUR |
Tax Analyst | 4,560 EUR |
Tax Associate | 2,690 EUR |
Tax Consultant | 4,930 EUR |
Tax Director | 6,630 EUR |
Tax Examiner | 3,200 EUR |
Tax Manager | 6,080 EUR |
Tax Research Manager | 5,730 EUR |
Teller | 1,970 EUR |
Treasury Accountant | 3,190 EUR |
Treasury Analyst | 4,710 EUR |
Underwriter | 2,280 EUR |
Underwriting Assistant | 2,040 EUR |
Vice President of Finance | 8,080 EUR |
Accounting and Finance Jobs Pay Scale and Salaries in Monaco
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/accounting-and-finance/median-and-salary-distribution-monthly-monaco-accounting-and-finance.jpg Salary Structure and Pay Scale Comparison
5% of people earn
4,360 EUR or more
10% of people earn
3,740 to 4,360 EUR
20% of people earn
2,370 EUR or less
65% of people earn
2,370 to 3,740 EUR
Minimum Salary 1,950 EUR |
Median 3,860 EUR |
Maximum 8,440 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 in Accounting and Finance in Monaco range from 1,950 EUR (starting average salary) to 8,440 EUR (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 3,860 EUR, implying that half of the workforce in Monaco 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 Monaco earn less than 3,090 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 4,600 EUR, 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 Monaco. The analysis revealed that roughly 65% of all reported salaries fell within the range of 2,370 EUR to 3,740 EUR. Approximately 20% of salaries were below the 2,370 EUR mark, while 10% ranged from 3,740 EUR to 4,360 EUR. Only 5% of individuals earned a gross salary of 4,360 EUR or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg 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 Monaco 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. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg 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 Monaco, 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 Monaco costs anywhere from 21,300 EUR to 63,800 EUR 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 / Monaco
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/accounting-and-finance/salary-comparison-by-gender-monthly-monaco-accounting-and-finance.jpg 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 Monaco, the average difference between the salary of male and female employees is 9%.
Male | | 4,540 EUR |
Female | -8% | 4,170 EUR |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in Monaco for all Careers
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/salary-comparison-by-gender-monthly-monaco.jpg
Average Annual Salary Increment Percentage / Accounting and Finance / Monaco
How much are annual salary increments in Monaco for individuals working in Accounting and Finance? How often do employees get salary raises?
Professionals working in Accounting and Finance in Monaco are likely to observe a salary increase of approximately 7% every 26 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/accounting-and-finance/annual-salary-increment-rate-monaco-accounting-and-finance.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/annual-salary-increment-rate-monaco.jpg 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
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg 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 / Monaco
How much and how often are bonuses being awarded?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/monaco/accounting-and-finance/annual-salary-bonus-rate-monaco-accounting-and-finance.jpg
44% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.
Received Bonus | | 56% |
No Bonus | | 44% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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 Generators | Supporting 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 / Monaco
25 EUR
per hour The average hourly wage (pay per hour) in Accounting and Finance in Monaco is 25 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 in Accounting and Finance 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.
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 in Accounting and Finance in Monaco?
A good and competitive compensation would range anywhere between 3,860 EUR and 4,600 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 jobs in Accounting and Finance in Monaco ranges from 1,950 EUR to 3,090 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