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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 TitleAverage Salary
Account Examiner23,300 PHP
Account Executive39,300 PHP
Accountant30,100 PHP
Accounting Assistant22,900 PHP
Accounting Associate22,000 PHP
Accounting Clerk18,500 PHP
Accounting Coordinator27,900 PHP
Accounting Manager66,400 PHP
Accounting Supervisor43,900 PHP
Accounting Technician21,800 PHP
Accounts Executive37,100 PHP
Accounts Payable and Receivable Specialist31,800 PHP
Accounts Payable Clerk22,600 PHP
Accounts Payable Manager58,200 PHP
Accounts Receivable Clerk23,500 PHP
Accounts Receivable Manager59,800 PHP
Assistant Accounting Manager59,000 PHP
Assistant Auditor29,600 PHP
Audit Supervisor53,700 PHP
Auditing Clerk23,100 PHP
Auditing Manager66,500 PHP
Billing Coordinator28,800 PHP
Billing Specialist31,800 PHP
Billing Supervisor44,800 PHP
Bookkeeper20,700 PHP
Bookkeeping Specialist29,700 PHP
Budget Analyst52,600 PHP
Budget Manager61,200 PHP
Business Support Analyst33,300 PHP
Capital Markets Associate43,900 PHP
Cash Flow Analyst48,000 PHP
Cash Management Officer34,500 PHP
Cashbook Clerk20,900 PHP
Chartered Accountant37,200 PHP
Collections Clerk18,500 PHP
Collections Specialist31,500 PHP
Corporate Treasurer59,000 PHP
Cost Accountant30,600 PHP
Cost Accounting Manager59,600 PHP
Cost Analyst46,400 PHP
Credit and Collection Manager59,300 PHP
Credit and Collection Staff24,200 PHP
Credit and Loans Officer22,600 PHP
Credit Controller43,200 PHP
Debt Adviser49,500 PHP
Debt Collector25,900 PHP
Debtors Clerk21,900 PHP
Deputy CFO84,900 PHP
Derivative Trader54,700 PHP
Escrow Assistant26,300 PHP
External Auditor43,500 PHP
Finance Associate26,600 PHP
Finance Executive66,000 PHP
Finance Licensing Clerk22,800 PHP
Finance Licensing Manager58,700 PHP
Finance Licensing Specialist32,300 PHP
Finance Officer29,300 PHP
Finance President93,300 PHP
Finance Relationship Manager70,900 PHP
Finance Release Analyst36,100 PHP
Finance Team Leader 69,800 PHP
Financial Actuary46,500 PHP
Financial Administrator50,200 PHP
Financial Analyst53,800 PHP
Financial Applications Specialist37,900 PHP
Financial Assistant23,700 PHP
Financial Associate24,400 PHP
Financial Claims Analyst42,300 PHP
Financial Claims Manager54,400 PHP
Financial Commercial Analyst44,600 PHP
Financial Compliance Analyst47,400 PHP
Financial Consultant39,100 PHP
Financial Controller50,300 PHP
Financial Coordinator27,300 PHP
Financial Customer Service Manager53,900 PHP
Financial Dealer and Broker33,200 PHP
Financial Encoder26,500 PHP
Financial Manager81,500 PHP
Financial Manager89,800 PHP
Financial Operations Manager76,300 PHP
Financial Policy Analyst48,800 PHP
Financial Project Manager61,800 PHP
Financial Quantitative Analyst50,400 PHP
Financial Reporting Consultant43,700 PHP
Financial Reporting Manager60,200 PHP
Financial Services Sales Agent33,800 PHP
Fixed Assets Administrator31,100 PHP
Forensic Accountant35,800 PHP
Fraud Detection Supervisor39,000 PHP
Fraud Prevention Manager62,800 PHP
Fund Accountant28,600 PHP
Grants Coordinator22,700 PHP
Internal Auditor40,400 PHP
Internal Control Adviser49,800 PHP
Internal Control Officer26,800 PHP
Inventory Accountant31,900 PHP
Investment Analyst61,600 PHP
Investment Fund Manager65,900 PHP
Investment Underwriter26,900 PHP
Investor40,800 PHP
Investor Relations Manager61,800 PHP
KYC Team Leader57,900 PHP
Management Economist71,500 PHP
Paymaster24,900 PHP
Payroll Clerk27,100 PHP
Payroll Manager55,200 PHP
Pensions Administrator32,500 PHP
Pricing Analyst50,000 PHP
Private Equity Analyst51,700 PHP
Proposal Development Coordinator27,300 PHP
Receivables Accountant29,200 PHP
Regulatory Accountant32,600 PHP
Retirement Plan Analyst50,500 PHP
Revenue Management Specialist51,000 PHP
Revenue Recognition Analyst59,000 PHP
Risk Management Director76,500 PHP
Risk Management Supervisor61,200 PHP
Tax Accountant27,700 PHP
Tax Advisor44,600 PHP
Tax Associate26,700 PHP
Tax Manager61,400 PHP
Teller18,700 PHP
Treasury Accountant32,000 PHP
Treasury Analyst51,000 PHP
Underwriter21,000 PHP
Underwriting Assistant19,200 PHP
Vice President of Finance86,800 PHP

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

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 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.

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

Salary comparison by gender monthly Philippines
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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.

Annual Salary Increment Rate Philippines 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.

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?Annual Salary Bonus Rate Philippines 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.

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

CityAverage Salary
Antipolo50,400 PHP
Cagayan de Oro48,700 PHP
Cebu52,100 PHP
Dasmarinas44,000 PHP
Davao54,100 PHP
Kalookan53,000 PHP
Las Pinas46,000 PHP
Makati45,100 PHP
Manila54,800 PHP
Paranaque47,900 PHP
Pasig49,500 PHP
Quezon City55,700 PHP
Taguig51,400 PHP
Valenzuela46,800 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
Percentage increase and decrease are relative to the previous value

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