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Accounting and Finance Average Salaries in Morocco 2020

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


Average Monthly Salary
19,700 MAD
( 237,000 MAD yearly)

LOW
8,090
MAD
AVERAGE
19,700
MAD
HIGH
40,100
MAD

A person working in Accounting and Finance in Morocco typically earns around 19,700 MAD per month. Salaries range from 8,090 MAD (lowest average) to 40,100 MAD (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 Examiner10,400 MAD
Account Executive18,000 MAD
Accountant12,800 MAD
Accounting Assistant10,500 MAD
Accounting Associate10,300 MAD
Accounting Clerk8,270 MAD
Accounting Coordinator12,400 MAD
Accounting Manager28,900 MAD
Accounting Supervisor19,600 MAD
Accounting Technician9,240 MAD
Accounts Executive17,000 MAD
Accounts Payable and Receivable Specialist13,500 MAD
Accounts Payable Clerk10,600 MAD
Accounts Payable Manager26,600 MAD
Accounts Receivable Clerk10,500 MAD
Accounts Receivable Manager26,000 MAD
Assistant Accounting Manager25,100 MAD
Assistant Auditor13,900 MAD
Audit Supervisor25,200 MAD
Auditing Clerk10,800 MAD
Auditing Manager28,200 MAD
Billing Coordinator12,800 MAD
Billing Specialist13,800 MAD
Billing Supervisor21,500 MAD
Bookkeeper8,790 MAD
Bookkeeping Specialist12,600 MAD
Budget Analyst24,100 MAD
Budget Manager27,300 MAD
Business Support Analyst15,600 MAD
Capital Markets Associate20,600 MAD
Cash Flow Analyst20,900 MAD
Cash Management Officer15,800 MAD
Cashbook Clerk9,340 MAD
Chartered Accountant16,600 MAD
Collections Clerk8,260 MAD
Collections Specialist13,700 MAD
Corporate Treasurer25,700 MAD
Cost Accountant13,600 MAD
Cost Accounting Manager27,900 MAD
Cost Analyst21,200 MAD
Credit and Collection Manager26,400 MAD
Credit and Collection Staff10,800 MAD
Credit and Loans Officer10,100 MAD
Credit Controller19,800 MAD
Debt Adviser23,200 MAD
Debt Collector10,700 MAD
Debtors Clerk9,090 MAD
Deputy CFO36,000 MAD
Derivative Trader24,400 MAD
Escrow Assistant12,400 MAD
External Auditor19,900 MAD
Finance Associate11,600 MAD
Finance Executive30,200 MAD
Finance Licensing Clerk9,680 MAD
Finance Licensing Manager26,800 MAD
Finance Licensing Specialist14,400 MAD
Finance Officer13,400 MAD
Finance President40,600 MAD
Finance Relationship Manager30,900 MAD
Finance Release Analyst15,300 MAD
Finance Team Leader 31,100 MAD
Financial Actuary20,800 MAD
Financial Administrator23,000 MAD
Financial Analyst25,800 MAD
Financial Applications Specialist16,500 MAD
Financial Assistant11,100 MAD
Financial Associate11,200 MAD
Financial Claims Analyst18,400 MAD
Financial Claims Manager25,500 MAD
Financial Commercial Analyst18,900 MAD
Financial Compliance Analyst22,300 MAD
Financial Consultant17,400 MAD
Financial Controller20,800 MAD
Financial Coordinator12,500 MAD
Financial Customer Service Manager25,300 MAD
Financial Dealer and Broker14,800 MAD
Financial Encoder11,800 MAD
Financial Manager37,200 MAD
Financial Manager36,400 MAD
Financial Operations Manager34,000 MAD
Financial Policy Analyst21,300 MAD
Financial Project Manager29,000 MAD
Financial Quantitative Analyst22,500 MAD
Financial Reporting Consultant20,500 MAD
Financial Reporting Manager26,200 MAD
Financial Services Sales Agent14,300 MAD
Fixed Assets Administrator13,900 MAD
Forensic Accountant15,600 MAD
Fraud Detection Supervisor16,100 MAD
Fraud Prevention Manager28,000 MAD
Fund Accountant12,400 MAD
Grants Coordinator10,600 MAD
Internal Auditor18,000 MAD
Internal Control Adviser20,600 MAD
Internal Control Officer12,000 MAD
Inventory Accountant14,600 MAD
Investment Analyst28,200 MAD
Investment Fund Manager31,700 MAD
Investment Underwriter11,400 MAD
Investor17,800 MAD
Investor Relations Manager26,200 MAD
KYC Team Leader26,500 MAD
Management Economist30,300 MAD
Paymaster10,600 MAD
Payroll Clerk11,500 MAD
Payroll Manager25,200 MAD
Pensions Administrator13,800 MAD
Pricing Analyst22,900 MAD
Private Equity Analyst24,900 MAD
Proposal Development Coordinator11,600 MAD
Receivables Accountant12,400 MAD
Regulatory Accountant15,700 MAD
Retirement Plan Analyst20,900 MAD
Revenue Management Specialist22,800 MAD
Revenue Recognition Analyst24,400 MAD
Risk Management Director34,100 MAD
Risk Management Supervisor26,600 MAD
Tax Accountant13,300 MAD
Tax Advisor19,900 MAD
Tax Associate11,300 MAD
Tax Manager28,800 MAD
Teller8,330 MAD
Treasury Accountant14,300 MAD
Treasury Analyst22,200 MAD
Underwriter9,860 MAD
Underwriting Assistant8,770 MAD
Vice President of Finance35,900 MAD

Accounting and Finance Jobs Salary Distribution in Morocco

Median and salary distribution monthly Morocco Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in Morocco range from 8,090 MAD per month (minimum average salary) to 40,100 MAD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 20,900 MAD per month, which means that half (50%) of people working in Accounting and Finance are earning less than 20,900 MAD while the other half are earning more than 20,900 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 people working in Accounting and Finance are earning less than 13,000 MAD while 75% of them are earning more than 13,000 MAD. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 32,400 MAD while 25% are earning more than 32,400 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

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 Morocco costs anywhere from 97,100 Moroccan Dirham(s) to 291,000 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 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 Morocco 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 in Morocco who work in Accounting and Finance earn 22% more than their female counterparts on average.

Female
18,000 MAD
Male+22%
21,900 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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Accounting and Finance Average Annual Salary Increment Percentage in Morocco

How much are annual salary increments in Morocco for Accounting and Finance professionals? How often do employees get salary raises?

Accounting and Finance

Accounting and Finance professionals in Morocco are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.

Annual Salary Increment Rate Morocco 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.

Morocco / All Professions

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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Accounting and Finance Bonus and Incentive Rates in Morocco

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Morocco 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.

20% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 80% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 5% to 9% of their annual salary.

Received Bonus
80%
No Bonus
20%

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 employees in Morocco earn 8% more than their private sector counterparts on average across all sectors.

Private Sector
18,500 MAD
Public Sector+8%
20,100 MAD
Percentage increase and decrease are relative to the previous value

Accounting and Finance Hourly Average Wage in Morocco


110 MAD per hour

The average hourly wage (pay per hour) in Morocco is 110 MAD. This means that the average person 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.

Accounting and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance monthly Morocco
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The average salary for Accounting and Finance is 2% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
Agadir17,400 MAD
Casablanca21,500 MAD
Marrakech20,100 MAD
Rabat19,000 MAD
Tangier21,100 MAD
21263 - 19

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