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Accountant Average Salary in Philippines 2020

How much money does an Accountant make in Philippines?


Average Monthly Salary
33,200 PHP
( 398,000 PHP yearly)

LOW
15,300
PHP
AVERAGE
33,200
PHP
HIGH
52,700
PHP

A person working as an Accountant in Philippines typically earns around 33,200 PHP per month. Salaries range from 15,300 PHP (lowest) to 52,700 PHP (highest).

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

Accountant Salary Distribution in Philippines

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

  • Salary Range

    Accountant salaries in Philippines range from 15,300 PHP per month (minimum salary) to 52,700 PHP per month (maximum salary).

  • Median Salary

    The median salary is 35,800 PHP per month, which means that half (50%) of people working as Accountant(s) are earning less than 35,800 PHP while the other half are earning more than 35,800 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 Accountant(s) are earning less than 23,000 PHP while 75% of them are earning more than 23,000 PHP. Also from the diagram, 75% of Accountant(s) are earning less than 47,800 PHP while 25% are earning more than 47,800 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

Accountant Salary Comparison by Years of Experience

How does experience and age affect your pay?

Salary comparison by years of experience monthly Philippines 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 Accountant salaries by experience level and this is what we found.

An Accountant with less than two years of experience makes approximately 17,300 PHP per month.

While someone with an experience level between two and five years is expected to earn 23,100 PHP per month, 34% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 34,200 PHP per month, 48% 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, Accountant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 41,700 PHP per month, 22% 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 45,400 PHP per month, 9% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 49,200 PHP per month, 8% more than people with fifteen to twenty years of experience.


Accountant average salary change by experience in Philippines

0 - 2 Years
17,300 PHP
2 - 5 Years+34%
23,100 PHP
5 - 10 Years+48%
34,200 PHP
10 - 15 Years+22%
41,700 PHP
15 - 20 Years+9%
45,400 PHP
20+ Years+8%
49,200 PHP
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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Accountant Salary Comparison By Education

How do education levels affect salaries?

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

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

When the education level is High School, the average salary of an Accountant is 21,200 PHP per month.

While someone with a Certificate or Diploma gets a salary of 25,000 PHP per month, 18% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 36,200 PHP per month, 45% more than someone with a Certificate or Diploma.

Professionals who hold a Master's Degree are rewarded with an average salary of 47,500 PHP per month, 31% more than someone with Bachelor's Degree.


Accountant average salary difference by education level in Philippines

High School
21,200 PHP
Certificate or Diploma+18%
25,000 PHP
Bachelor's Degree+45%
36,200 PHP
Master's Degree+31%
47,500 PHP
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 Philippines costs anywhere from 253,000 Philippine Peso(s) to 758,000 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 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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Accountant Salary Comparison By Gender

Salary comparison by gender monthly Philippines 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 Accountant employees in Philippines earn 22% more than their female counterparts.

Female
29,800 PHP
Male+22%
36,500 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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Accountant Average Annual Salary Increment Percentage in Philippines

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

Accountant

Accountant(s) in Philippines are likely to observe a salary increase of approximately 11% every 17 months. The national average annual increment for all professions combined is 8% granted to employees every 18 months.

Annual Salary Increment Rate Philippines 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.

Philippines / All Professions

Annual Salary Increment Rate Philippines
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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 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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Accountant Bonus and Incentive Rates in Philippines

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Philippines Accountant
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An 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.

44% of surveyed staff 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 2% to 7% of their annual salary.

Received Bonus
56%
No Bonus
44%

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

Private Sector
47,700 PHP
Public Sector+12%
53,400 PHP
Percentage increase and decrease are relative to the previous value

Accountant Salary Trend and Forecast in Philippines

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

Salary trends and forecast monthly Philippines Accountant
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Average Salary 2016
28,700 PHP
Average Salary 2017+4%
29,700 PHP
Average Salary 2018+4%
30,800 PHP
Average Salary 2019+4%
32,000 PHP
Percentage increase and decrease are relative to the previous value

Accountant salaries in Philippines are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 4% 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.

Accountant Average Hourly Wage in Philippines


190 PHP per hour

The average hourly wage (pay per hour) in Philippines is 190 PHP. This means that the average Accountant in Philippines earns approximately 190 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.

Accountant VS Other Jobs

Salary Comparison Between Accountant and Accounting and Finance monthly Philippines
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The average salary for Accountant is 32% 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 Examiner30,500 PHP-8%
Account Executive46,600 PHP+41%
Accountant33,200 PHP+0%
Accounting Assistant31,000 PHP-6%
Accounting Associate32,800 PHP-1%
Accounting Clerk24,300 PHP-27%
Accounting Coordinator27,400 PHP-17%
Accounting Manager65,300 PHP+97%
Accounting Supervisor47,400 PHP+43%
Accounting Technician30,300 PHP-9%
Accounts Executive39,400 PHP+19%
Accounts Payable and Receivable Specialist39,100 PHP+18%
Accounts Payable Clerk24,800 PHP-25%
Accounts Payable Manager48,700 PHP+47%
Accounts Receivable Clerk27,700 PHP-16%
Accounts Receivable Manager53,900 PHP+63%
Assistant Accounting Manager42,700 PHP+29%
Assistant Auditor34,800 PHP+5%
Audit Supervisor61,400 PHP+85%
Auditing Clerk31,000 PHP-6%
Auditing Manager69,900 PHP+110%
Billing Coordinator40,800 PHP+23%
Billing Specialist36,900 PHP+11%
Billing Supervisor44,300 PHP+34%
Bookkeeper26,300 PHP-21%
Bookkeeping Specialist34,700 PHP+5%
Budget Analyst39,600 PHP+19%
Budget Manager56,100 PHP+69%
Business Support Analyst42,400 PHP+28%
Capital Markets Associate48,100 PHP+45%
Cash Flow Analyst50,700 PHP+53%
Cash Management Officer44,900 PHP+35%
Cashbook Clerk30,600 PHP-8%
Chartered Accountant40,100 PHP+21%
Collections Clerk24,500 PHP-26%
Collections Specialist32,600 PHP-2%
Corporate Treasurer86,000 PHP+160%
Cost Accountant39,200 PHP+18%
Cost Accounting Manager50,700 PHP+53%
Cost Analyst46,300 PHP+40%
Credit and Collection Manager54,400 PHP+64%
Credit and Collection Staff28,300 PHP-15%
Credit and Loans Officer28,000 PHP-16%
Credit Controller47,400 PHP+43%
Debt Adviser58,300 PHP+76%
Debt Collector44,000 PHP+33%
Debtors Clerk36,700 PHP+11%
Deputy CFO85,100 PHP+160%
Derivative Trader70,200 PHP+110%
Escrow Assistant37,600 PHP+13%
External Auditor50,100 PHP+51%
Finance Associate37,000 PHP+12%
Finance Executive80,400 PHP+140%
Finance Licensing Clerk31,400 PHP-5%
Finance Licensing Manager48,900 PHP+47%
Finance Licensing Specialist37,400 PHP+13%
Finance Officer55,000 PHP+66%
Finance President101,000 PHP+200%
Finance Relationship Manager67,100 PHP+100%
Finance Release Analyst46,300 PHP+40%
Finance Team Leader 52,900 PHP+60%
Financial Actuary47,800 PHP+44%
Financial Administrator41,000 PHP+24%
Financial Analyst49,200 PHP+48%
Financial Applications Specialist32,500 PHP-2%
Financial Assistant28,600 PHP-14%
Financial Associate35,500 PHP+7%
Financial Claims Analyst46,800 PHP+41%
Financial Claims Manager51,600 PHP+56%
Financial Commercial Analyst42,400 PHP+28%
Financial Compliance Analyst47,400 PHP+43%
Financial Consultant43,600 PHP+32%
Financial Controller47,100 PHP+42%
Financial Coordinator40,200 PHP+21%
Financial Customer Service Manager55,800 PHP+68%
Financial Dealer and Broker43,300 PHP+31%
Financial Encoder27,900 PHP-16%
Financial Manager93,700 PHP+180%
Financial Operations Manager67,900 PHP+100%
Financial Policy Analyst49,500 PHP+49%
Financial Project Manager45,400 PHP+37%
Financial Quantitative Analyst50,800 PHP+53%
Financial Reporting Consultant46,900 PHP+41%
Financial Reporting Manager60,200 PHP+82%
Financial Services Sales Agent43,900 PHP+32%
Fixed Assets Administrator38,100 PHP+15%
Forensic Accountant37,800 PHP+14%
Fraud Detection Supervisor46,700 PHP+41%
Fraud Prevention Manager69,200 PHP+110%
Fund Accountant34,500 PHP+4%
Grants Coordinator30,900 PHP-7%
Internal Auditor49,200 PHP+48%
Internal Control Adviser52,300 PHP+58%
Internal Control Officer42,900 PHP+29%
Inventory Accountant76,400 PHP+130%
Investment Analyst63,300 PHP+91%
Investment Fund Manager62,900 PHP+90%
Investment Underwriter30,300 PHP-9%
Investor47,000 PHP+42%
Investor Relations Manager60,900 PHP+84%
KYC Team Leader56,600 PHP+71%
Management Economist54,200 PHP+63%
Paymaster36,800 PHP+11%
Payroll Clerk29,100 PHP-12%
Payroll Manager48,100 PHP+45%
Pensions Administrator37,800 PHP+14%
Pricing Analyst52,300 PHP+58%
Private Equity Analyst51,100 PHP+54%
Proposal Development Coordinator37,200 PHP+12%
Receivables Accountant33,300 PHP+0%
Regulatory Accountant36,700 PHP+11%
Retirement Plan Analyst51,100 PHP+54%
Revenue Management Specialist41,700 PHP+26%
Revenue Recognition Analyst64,800 PHP+95%
Risk Management Director79,300 PHP+140%
Risk Management Supervisor59,200 PHP+79%
Tax Accountant33,200 PHP+0%
Tax Advisor45,300 PHP+37%
Tax Associate38,200 PHP+15%
Tax Manager68,900 PHP+110%
Teller22,500 PHP-32%
Treasury Accountant37,000 PHP+12%
Treasury Analyst51,400 PHP+55%
Underwriter28,100 PHP-15%
Underwriting Assistant24,900 PHP-25%
Vice President of Finance71,900 PHP+120%

Salary Comparison By City

CityAverage Salary
Antipolo34,700 PHP
Cagayan de Oro33,000 PHP
Cebu36,100 PHP
Dasmarinas29,900 PHP
Davao37,300 PHP
Kalookan36,800 PHP
Las Pinas31,000 PHP
Makati30,300 PHP
Manila38,200 PHP
Paranaque32,300 PHP
Pasig34,000 PHP
Quezon City38,900 PHP
Taguig35,200 PHP
Valenzuela31,900 PHP
25633 - 63

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