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Chartered Accountant Average Salary in Morocco 2020

How much money does a Chartered Accountant make in Morocco?


Average Monthly Salary
19,600 MAD
( 235,000 MAD yearly)

LOW
9,800
MAD
AVERAGE
19,600
MAD
HIGH
30,400
MAD

A person working as a Chartered Accountant in Morocco typically earns around 19,600 MAD per month. Salaries range from 9,800 MAD (lowest) to 30,400 MAD (highest).

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

Chartered Accountant Salary Distribution in Morocco

Median and salary distribution monthly Morocco Chartered Accountant
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The median, the maximum, the minimum, and the range

  • Salary Range

    Chartered Accountant salaries in Morocco range from 9,800 MAD per month (minimum salary) to 30,400 MAD per month (maximum salary).

  • Median Salary

    The median salary is 19,600 MAD per month, which means that half (50%) of people working as Chartered Accountant(s) are earning less than 19,600 MAD while the other half are earning more than 19,600 MAD. 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 Chartered Accountant(s) are earning less than 13,200 MAD while 75% of them are earning more than 13,200 MAD. Also from the diagram, 75% of Chartered Accountant(s) are earning less than 25,000 MAD while 25% are earning more than 25,000 MAD.


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

Chartered Accountant Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Morocco 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 your wage. We broke down Chartered Accountant salaries by experience level and this is what we found.

A Chartered Accountant with less than two years of experience makes approximately 11,800 MAD per month.

While someone with an experience level between two and five years is expected to earn 15,600 MAD per month, 32% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 20,800 MAD per month, 34% more than someone with two to five 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.

Additionally, Chartered Accountant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 24,800 MAD per month, 19% 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 26,800 MAD per month, 8% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 28,700 MAD per month, 7% more than people with fifteen to twenty years of experience.


Chartered Accountant average salary change by experience in Morocco

0 - 2 Years
11,800 MAD
2 - 5 Years+32%
15,600 MAD
5 - 10 Years+34%
20,800 MAD
10 - 15 Years+19%
24,800 MAD
15 - 20 Years+8%
26,800 MAD
20+ Years+7%
28,700 MAD
Percentage increase and decrease are relative to the previous value

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Chartered Accountant Salary Comparison By Education

How do education levels affect salaries?

Displayed below is the average salary difference between different Chartered Accountant(s) who have the same experience but different education levels.

Salary comparison by education level monthly Morocco 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 Chartered Accountant salaries by education level in order to make a comparison.

When the education level is Certificate or Diploma, the average salary of a Chartered Accountant is 15,600 MAD per month.

While someone with a Bachelor's Degree gets a salary of 21,300 MAD per month, 37% more than someone having a Certificate or Diploma degree.

A Master's Degree gets its holder an average salary of 27,500 MAD per month, 29% more than someone with a Bachelor's Degree.


Chartered Accountant average salary difference by education level in Morocco

Certificate or Diploma
15,600 MAD
Bachelor's Degree+37%
21,300 MAD
Master's Degree+29%
27,500 MAD
Percentage increase and decrease are relative to the previous value

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 Morocco costs anywhere from 121,000 Moroccan Dirham(s) to 362,000 Moroccan Dirham(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 the thoery. 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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Chartered Accountant Salary Comparison By Gender

Salary comparison by gender monthly Morocco Chartered Accountant
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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 Chartered Accountant employees in Morocco earn 8% more than their female counterparts.

Female
18,700 MAD
Male+8%
20,300 MAD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Morocco for all Careers

Salary comparison by gender monthly Morocco
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Chartered Accountant Average Annual Salary Increment Percentage in Morocco

How much are annual salary increments in Morocco for Chartered Accountant(s)? How often do employees get salary raises?

Chartered Accountant

Chartered Accountant(s) in Morocco are likely to observe a salary increase of approximately 12% every 16 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Morocco 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.

Morocco / All Professions

Annual Salary Increment Rate Morocco
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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 Morocco is 6%.

Annual Increment Rate By Industry 2019

Banking
2%
Energy
4%
Information Technology
6%
Healthcare
8%
Travel
1%
Construction
3%
Education
5%

Listed above are the average annual increase rates for each industry in Morocco 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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Chartered Accountant Bonus and Incentive Rates in Morocco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Morocco Chartered Accountant
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A Chartered Accountant is considered to be a moderate bonus-based job 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.

46% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 54% 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
54%
No Bonus
46%

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 Morocco
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Where can you get paid more, working for a private company or for the government? Public sector Chartered Accountant employees in Morocco earn 8% more than their private sector counterparts.

Private Sector
23,000 MAD
Public Sector+8%
24,900 MAD
Percentage increase and decrease are relative to the previous value

Chartered Accountant Salary Trend and Forecast in Morocco

How are Chartered Accountant salaries changing over time? Listed below is a chart that shows the average salary in recent years.

Salary trends and forecast monthly Morocco Chartered Accountant
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Average Salary 2016
17,700 MAD
Average Salary 2017+4%
18,400 MAD
Average Salary 2018+2%
18,800 MAD
Average Salary 2019+1%
19,100 MAD
Percentage increase and decrease are relative to the previous value

Chartered Accountant salaries in Morocco are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 1% 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.

Chartered Accountant Average Hourly Wage in Morocco


110 MAD per hour

The average hourly wage (pay per hour) in Morocco is 110 MAD. This means that the average Chartered Accountant in Morocco earns approximately 110 MAD 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.

Chartered Accountant VS Other Jobs

Salary Comparison Between Chartered Accountant and Accounting and Finance monthly Morocco
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The average salary for Chartered Accountant is 16% less than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner14,900 MAD-24%
Account Executive23,400 MAD+19%
Accountant15,400 MAD-21%
Accounting Assistant15,500 MAD-21%
Accounting Associate16,800 MAD-14%
Accounting Clerk11,900 MAD-39%
Accounting Coordinator13,400 MAD-32%
Accounting Manager31,100 MAD+59%
Accounting Supervisor23,200 MAD+18%
Accounting Technician14,100 MAD-28%
Accounts Executive19,800 MAD+1%
Accounts Payable and Receivable Specialist18,200 MAD-7%
Accounts Payable Clerk12,700 MAD-35%
Accounts Payable Manager24,400 MAD+24%
Accounts Receivable Clerk13,500 MAD-31%
Accounts Receivable Manager25,700 MAD+31%
Assistant Accounting Manager19,900 MAD+2%
Assistant Auditor17,900 MAD-9%
Audit Supervisor31,600 MAD+61%
Auditing Clerk15,900 MAD-19%
Auditing Manager32,600 MAD+66%
Billing Coordinator19,900 MAD+2%
Billing Specialist17,600 MAD-10%
Billing Supervisor23,400 MAD+19%
Bookkeeper12,200 MAD-38%
Bookkeeping Specialist16,100 MAD-18%
Budget Analyst19,800 MAD+1%
Budget Manager27,400 MAD+40%
Business Support Analyst21,800 MAD+11%
Capital Markets Associate24,800 MAD+27%
Cash Flow Analyst24,200 MAD+23%
Cash Management Officer22,500 MAD+15%
Cashbook Clerk15,000 MAD-23%
Chartered Accountant19,600 MAD-0%
Collections Clerk12,000 MAD-39%
Collections Specialist15,500 MAD-21%
Corporate Treasurer41,000 MAD+110%
Cost Accountant19,200 MAD-2%
Cost Accounting Manager26,100 MAD+33%
Cost Analyst23,300 MAD+19%
Credit and Collection Manager26,600 MAD+36%
Credit and Collection Staff13,900 MAD-29%
Credit and Loans Officer13,700 MAD-30%
Credit Controller23,700 MAD+21%
Debt Adviser29,900 MAD+53%
Debt Collector20,000 MAD+2%
Debtors Clerk16,600 MAD-15%
Deputy CFO39,500 MAD+100%
Derivative Trader34,300 MAD+75%
Escrow Assistant19,300 MAD-2%
External Auditor25,100 MAD+28%
Finance Associate17,700 MAD-10%
Finance Executive40,300 MAD+110%
Finance Licensing Clerk14,600 MAD-26%
Finance Licensing Manager24,500 MAD+25%
Finance Licensing Specialist18,300 MAD-7%
Finance Officer27,500 MAD+40%
Finance President48,000 MAD+140%
Finance Relationship Manager32,000 MAD+63%
Finance Release Analyst21,600 MAD+10%
Finance Team Leader 25,900 MAD+32%
Financial Actuary23,400 MAD+19%
Financial Administrator20,600 MAD+5%
Financial Analyst25,900 MAD+32%
Financial Applications Specialist15,500 MAD-21%
Financial Assistant14,700 MAD-25%
Financial Associate17,800 MAD-9%
Financial Claims Analyst22,300 MAD+14%
Financial Claims Manager26,500 MAD+35%
Financial Commercial Analyst19,700 MAD+1%
Financial Compliance Analyst24,400 MAD+24%
Financial Consultant21,300 MAD+9%
Financial Controller21,300 MAD+9%
Financial Coordinator20,200 MAD+3%
Financial Customer Service Manager28,700 MAD+46%
Financial Dealer and Broker21,200 MAD+8%
Financial Encoder13,600 MAD-31%
Financial Manager46,300 MAD+140%
Financial Operations Manager33,200 MAD+69%
Financial Policy Analyst23,600 MAD+20%
Financial Project Manager23,300 MAD+19%
Financial Quantitative Analyst24,800 MAD+27%
Financial Reporting Consultant24,100 MAD+23%
Financial Reporting Manager28,700 MAD+46%
Financial Services Sales Agent20,400 MAD+4%
Fixed Assets Administrator18,600 MAD-5%
Forensic Accountant18,000 MAD-8%
Fraud Detection Supervisor21,200 MAD+8%
Fraud Prevention Manager33,900 MAD+73%
Fund Accountant16,400 MAD-16%
Grants Coordinator15,900 MAD-19%
Internal Auditor24,100 MAD+23%
Internal Control Adviser23,700 MAD+21%
Internal Control Officer21,000 MAD+7%
Inventory Accountant38,300 MAD+95%
Investment Analyst31,700 MAD+62%
Investment Fund Manager33,100 MAD+69%
Investment Underwriter14,100 MAD-28%
Investor22,400 MAD+14%
Investor Relations Manager28,300 MAD+44%
KYC Team Leader28,400 MAD+45%
Management Economist25,200 MAD+29%
Paymaster17,100 MAD-13%
Payroll Clerk13,500 MAD-31%
Payroll Manager24,100 MAD+23%
Pensions Administrator17,500 MAD-11%
Pricing Analyst26,200 MAD+34%
Private Equity Analyst26,900 MAD+37%
Proposal Development Coordinator17,300 MAD-12%
Receivables Accountant15,500 MAD-21%
Regulatory Accountant19,300 MAD-2%
Retirement Plan Analyst23,200 MAD+18%
Revenue Management Specialist20,400 MAD+4%
Revenue Recognition Analyst29,400 MAD+50%
Risk Management Director38,800 MAD+98%
Risk Management Supervisor28,200 MAD+44%
Tax Accountant17,500 MAD-11%
Tax Advisor22,200 MAD+13%
Tax Associate17,800 MAD-9%
Tax Manager35,400 MAD+81%
Teller11,000 MAD-44%
Treasury Accountant18,100 MAD-8%
Treasury Analyst24,500 MAD+25%
Underwriter14,400 MAD-27%
Underwriting Assistant12,500 MAD-36%
Vice President of Finance32,600 MAD+66%

Salary Comparison By City

CityAverage Salary
Agadir19,300 MAD
Casablanca23,500 MAD
Marrakech21,200 MAD
Rabat19,300 MAD
Tangier21,800 MAD
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