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Accounting and Finance Average Salaries in Philippines 2020

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

Average Monthly Salary

45,900 PHP

( 551,000 PHP yearly)

LOW
18,600
PHP AVERAGE
45,900
PHP HIGH
92,200
PHP

A person working in Accounting and Finance in Philippines typically earns around 45,900 PHP per month. Salaries range from 18,600 PHP (lowest average) to 92,200 PHP (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 Title

Average Salary

Account Examiner	23,300 PHP
Account Executive	39,300 PHP
Accountant	30,100 PHP
Accounting Assistant	22,900 PHP
Accounting Associate	22,000 PHP

Accounting Clerk	18,500 PHP
Accounting Coordinator	27,900 PHP
Accounting Manager	66,400 PHP
Accounting Supervisor	43,900 PHP
Accounting Technician	21,800 PHP
Accounts Executive	37,100 PHP
Accounts Payable and Receivable Specialist	31,800 PHP
Accounts Payable Clerk	22,600 PHP
Accounts Payable Manager	58,200 PHP
Accounts Receivable Clerk	23,500 PHP
Accounts Receivable Manager	59,800 PHP
Assistant Accounting Manager	59,000 PHP
Assistant Auditor	29,600 PHP
Audit Supervisor	53,700 PHP
Auditing Clerk	23,100 PHP
Auditing Manager	66,500 PHP
Billing Coordinator	28,800 PHP
Billing Specialist	31,800 PHP
Billing Supervisor	44,800 PHP
Bookkeeper	20,700 PHP
Bookkeeping Specialist	29,700 PHP
Budget Analyst	52,600 PHP
Budget Manager	61,200 PHP
Business Support Analyst	33,300 PHP
Capital Markets Associate	43,900 PHP
Cash Flow Analyst	48,000 PHP
Cash Management Officer	34,500 PHP
Cashbook Clerk	20,900 PHP
Chartered Accountant	37,200 PHP
Collections Clerk	18,500 PHP
Collections Specialist	31,500 PHP
Corporate Treasurer	59,000 PHP
Cost Accountant	30,600 PHP
Cost Accounting Manager	59,600 PHP
Cost Analyst	46,400 PHP
Credit and Collection Manager	59,300 PHP
Credit and Collection Staff	24,200 PHP
Credit and Loans Officer	22,600 PHP
Credit Controller	43,200 PHP
Debt Adviser	49,500 PHP
Debt Collector	25,900 PHP
Debtors Clerk	21,900 PHP
Deputy CFO	84,900 PHP
Derivative Trader	54,700 PHP
Escrow Assistant	26,300 PHP
External Auditor	43,500 PHP
Finance Associate	26,600 PHP
Finance Executive	66,000 PHP
Finance Licensing Clerk	22,800 PHP
Finance Licensing Manager	58,700 PHP
Finance Licensing Specialist	32,300 PHP
Finance Officer	29,300 PHP
Finance President	93,300 PHP
Finance Relationship Manager	70,900 PHP
Finance Release Analyst	36,100 PHP
Finance Team Leader	69,800 PHP
Financial Actuary	46,500 PHP
Financial Administrator	50,200 PHP
Financial Analyst	53,800 PHP
Financial Applications Specialist	37,900 PHP
Financial Assistant	23,700 PHP
Financial Associate	24,400 PHP
Financial Claims Analyst	42,300 PHP
Financial Claims Manager	54,400 PHP
Financial Commercial Analyst	44,600 PHP
Financial Compliance Analyst	47,400 PHP
Financial Consultant	39,100 PHP
Financial Controller	50,300 PHP
Financial Coordinator	27,300 PHP
Financial Customer Service Manager	53,900 PHP
Financial Dealer and Broker	33,200 PHP
Financial Encoder	26,500 PHP
Financial Manager	81,500 PHP
Financial Manager	89,800 PHP
Financial Operations Manager	76,300 PHP
Financial Policy Analyst	48,800 PHP
Financial Project Manager	61,800 PHP
Financial Quantitative Analyst	50,400 PHP
Financial Reporting Consultant	43,700 PHP
Financial Reporting Manager	60,200 PHP
Financial Services Sales Agent	33,800 PHP
Fixed Assets Administrator	31,100 PHP
Forensic Accountant	35,800 PHP
Fraud Detection Supervisor	39,000 PHP
Fraud Prevention Manager	62,800 PHP
Fund Accountant	28,600 PHP
Grants Coordinator	22,700 PHP
Internal Auditor	40,400 PHP
Internal Control Adviser	49,800 PHP
Internal Control Officer	26,800 PHP
Inventory Accountant	31,900 PHP
Investment Analyst	61,600 PHP
Investment Fund Manager	65,900 PHP
Investment Underwriter	26,900 PHP
Investor	40,800 PHP
Investor Relations Manager	61,800 PHP
KYC Team Leader	57,900 PHP
Management Economist	71,500 PHP
Paymaster	24,900 PHP
Payroll Clerk	27,100 PHP
Payroll Manager	55,200 PHP
Pensions Administrator	32,500 PHP
Pricing Analyst	50,000 PHP
Private Equity Analyst	51,700 PHP
Proposal Development Coordinator	27,300 PHP
Receivables Accountant	29,200 PHP
Regulatory Accountant	32,600 PHP
Retirement Plan Analyst	50,500 PHP
Revenue Management Specialist	51,000 PHP
Revenue Recognition Analyst	59,000 PHP
Risk Management Director	76,500 PHP
Risk Management Supervisor	61,200 PHP
Tax Accountant	27,700 PHP
Tax Advisor	44,600 PHP
Tax Associate	26,700 PHP
Tax Manager	61,400 PHP
Teller	18,700 PHP
Treasury Accountant	32,000 PHP
Treasury Analyst	51,000 PHP
Underwriter	21,000 PHP
Underwriting Assistant	19,200 PHP
Vice President of Finance	86,800 PHP

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Accounting and Finance Jobs Salary Distribution in Philippines

Median and salary distribution monthly Philippines Accounting and Finance

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The median, the maximum, the minimum, and the range

Salary Range
Accounting and Finance salaries in Philippines range from 18,600 PHP per month (minimum average salary) to 92,200 PHP per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 49,600 PHP per month, which means that half (50%) of people working in Accounting and Finance are earning less than 49,600 PHP while the other half are earning more than 49,600 PHP. 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 30,700 PHP while 75% of them are earning more than 30,700 PHP. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 76,600 PHP while 25% are earning more than 76,600 PHP.

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

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Salary Comparison by Years of Experience

How does a person's salary progress over time?

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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.

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Salary Comparison By Education

How does the education level affect your salary?

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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 Philippines costs anywhere from 223,000 Philippine Peso(s) to 669,000 Philippine Peso(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.

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Accounting and Finance Salary Comparison By Gender

Salary comparison by gender monthly Philippines 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 Philippines who work in Accounting and Finance earn 15% more than their female counterparts on average.

Male		49,100 PHP
Female	-13%	42,800 PHP

Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Philippines for all Careers

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Accounting and Finance Average Annual Salary Increment Percentage in Philippines

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

Accounting and Finance

Accounting and Finance professionals in Philippines are likely to observe a salary increase of approximately 10% every 16 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

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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.

Philippines / 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 Philippines is 5%.”

Annual Increment Rate By Industry 2019

Banking		9%
Energy		9%
Information Technology		9%
Healthcare		9%
Travel		9%
Construction		9%
Education		9%

Listed above are the average annual increase rates for each industry in Philippines 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 Philippines

How much and how often are bonuses being awarded?
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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 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.

Accounting and Finance Hourly Average Wage in Philippines

260 PHP per hour

The average hourly wage (pay per hour) in Philippines is 260 PHP. This means that the average person in Philippines earns approximately 260 PHP 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 Philippines

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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison By City

City	Average Salary

Antipolo	50,400 PHP
Cagayan de Oro	48,700 PHP
Cebu	52,100 PHP
Dasmarinas	44,000 PHP
Davao	54,100 PHP
Kalookan	53,000 PHP
Las Pinas	46,000 PHP
Makati	45,100 PHP
Manila	54,800 PHP
Paranaque	47,900 PHP
Pasig	49,500 PHP
Quezon City	55,700 PHP
Taguig	51,400 PHP
Valenzuela	46,800 PHP

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in Philippines earn 12% more than their private sector counterparts on average across all sectors.

Private Sector		42,100 PHP
Public Sector	+12%	47,100 PHP