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Accountant Average Salary in Philippines 2020

How much money does an Accountant make in Philippines?


Average Monthly Salary
30,100 PHP
( 362,000 PHP yearly)

LOW
13,900
PHP
AVERAGE
30,100
PHP
HIGH
47,900
PHP

A person working as an Accountant in Philippines typically earns around 30,100 PHP per month. Salaries range from 13,900 PHP (lowest) to 47,900 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 13,900 PHP per month (minimum salary) to 47,900 PHP per month (maximum salary).

  • Median Salary

    The median salary is 32,600 PHP per month, which means that half (50%) of people working as Accountant(s) are earning less than 32,600 PHP while the other half are earning more than 32,600 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 Accountant(s) are earning less than 20,900 PHP while 75% of them are earning more than 20,900 PHP. Also from the diagram, 75% of Accountant(s) are earning less than 43,500 PHP while 25% are earning more than 43,500 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 15,700 PHP per month.

While someone with an experience level between two and five years is expected to earn 21,000 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 31,100 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 37,900 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 41,300 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 44,700 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
15,700 PHP
2 - 5 Years+34%
21,000 PHP
5 - 10 Years+48%
31,100 PHP
10 - 15 Years+22%
37,900 PHP
15 - 20 Years+9%
41,300 PHP
20+ Years+8%
44,700 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 19,300 PHP per month.

While someone with a Certificate or Diploma gets a salary of 22,700 PHP per month, 18% more than someone having a High School degree.

A Bachelor's Degree gets its holder an average salary of 32,900 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 43,200 PHP per month, 31% more than someone with Bachelor's Degree.


Accountant average salary difference by education level in Philippines

High School
19,300 PHP
Certificate or Diploma+18%
22,700 PHP
Bachelor's Degree+45%
32,900 PHP
Master's Degree+31%
43,200 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 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 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 15% more than their female counterparts on average.

Male
32,200 PHP
Female-13%
28,100 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

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.

43% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 57% 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
57%
No Bonus
43%

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.

Accountant Average Hourly Wage in Philippines


170 PHP per hour

The average hourly wage (pay per hour) in Philippines is 170 PHP. This means that the average Accountant in Philippines earns approximately 170 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 34% less than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% more than those of All Jobs.

Salary comparison with similar jobs

Job TitleAverage Salary
Account Examiner23,300 PHP-23%
Account Executive39,300 PHP+30%
Accountant30,100 PHP-0%
Accounting Assistant22,900 PHP-24%
Accounting Associate22,000 PHP-27%
Accounting Clerk18,500 PHP-39%
Accounting Coordinator27,900 PHP-7%
Accounting Manager66,400 PHP+120%
Accounting Supervisor43,900 PHP+46%
Accounting Technician21,800 PHP-28%
Accounts Executive37,100 PHP+23%
Accounts Payable and Receivable Specialist31,800 PHP+6%
Accounts Payable Clerk22,600 PHP-25%
Accounts Payable Manager58,200 PHP+93%
Accounts Receivable Clerk23,500 PHP-22%
Accounts Receivable Manager59,800 PHP+98%
Assistant Accounting Manager59,000 PHP+96%
Assistant Auditor29,600 PHP-2%
Audit Supervisor53,700 PHP+78%
Auditing Clerk23,100 PHP-23%
Auditing Manager66,500 PHP+120%
Billing Coordinator28,800 PHP-4%
Billing Specialist31,800 PHP+6%
Billing Supervisor44,800 PHP+49%
Bookkeeper20,700 PHP-31%
Bookkeeping Specialist29,700 PHP-1%
Budget Analyst52,600 PHP+75%
Budget Manager61,200 PHP+100%
Business Support Analyst33,300 PHP+10%
Capital Markets Associate43,900 PHP+46%
Cash Flow Analyst48,000 PHP+59%
Cash Management Officer34,500 PHP+14%
Cashbook Clerk20,900 PHP-31%
Chartered Accountant37,200 PHP+23%
Collections Clerk18,500 PHP-39%
Collections Specialist31,500 PHP+5%
Corporate Treasurer59,000 PHP+96%
Cost Accountant30,600 PHP+2%
Cost Accounting Manager59,600 PHP+98%
Cost Analyst46,400 PHP+54%
Credit and Collection Manager59,300 PHP+97%
Credit and Collection Staff24,200 PHP-20%
Credit and Loans Officer22,600 PHP-25%
Credit Controller43,200 PHP+43%
Debt Adviser49,500 PHP+64%
Debt Collector25,900 PHP-14%
Debtors Clerk21,900 PHP-27%
Deputy CFO84,900 PHP+180%
Derivative Trader54,700 PHP+81%
Escrow Assistant26,300 PHP-13%
External Auditor43,500 PHP+44%
Finance Associate26,600 PHP-12%
Finance Executive66,000 PHP+120%
Finance Licensing Clerk22,800 PHP-24%
Finance Licensing Manager58,700 PHP+95%
Finance Licensing Specialist32,300 PHP+7%
Finance Officer29,300 PHP-3%
Finance President93,300 PHP+210%
Finance Relationship Manager70,900 PHP+140%
Finance Release Analyst36,100 PHP+20%
Finance Team Leader 69,800 PHP+130%
Financial Actuary46,500 PHP+54%
Financial Administrator50,200 PHP+67%
Financial Analyst53,800 PHP+79%
Financial Applications Specialist37,900 PHP+26%
Financial Assistant23,700 PHP-21%
Financial Associate24,400 PHP-19%
Financial Claims Analyst42,300 PHP+40%
Financial Claims Manager54,400 PHP+80%
Financial Commercial Analyst44,600 PHP+48%
Financial Compliance Analyst47,400 PHP+57%
Financial Consultant39,100 PHP+30%
Financial Controller50,300 PHP+67%
Financial Coordinator27,300 PHP-9%
Financial Customer Service Manager53,900 PHP+79%
Financial Dealer and Broker33,200 PHP+10%
Financial Encoder26,500 PHP-12%
Financial Manager81,500 PHP+170%
Financial Operations Manager76,300 PHP+150%
Financial Policy Analyst48,800 PHP+62%
Financial Project Manager61,800 PHP+110%
Financial Quantitative Analyst50,400 PHP+67%
Financial Reporting Consultant43,700 PHP+45%
Financial Reporting Manager60,200 PHP+100%
Financial Services Sales Agent33,800 PHP+12%
Fixed Assets Administrator31,100 PHP+3%
Forensic Accountant35,800 PHP+19%
Fraud Detection Supervisor39,000 PHP+29%
Fraud Prevention Manager62,800 PHP+110%
Fund Accountant28,600 PHP-5%
Grants Coordinator22,700 PHP-25%
Internal Auditor40,400 PHP+34%
Internal Control Adviser49,800 PHP+65%
Internal Control Officer26,800 PHP-11%
Inventory Accountant31,900 PHP+6%
Investment Analyst61,600 PHP+100%
Investment Fund Manager65,900 PHP+120%
Investment Underwriter26,900 PHP-11%
Investor40,800 PHP+35%
Investor Relations Manager61,800 PHP+110%
KYC Team Leader57,900 PHP+92%
Management Economist71,500 PHP+140%
Paymaster24,900 PHP-17%
Payroll Clerk27,100 PHP-10%
Payroll Manager55,200 PHP+83%
Pensions Administrator32,500 PHP+8%
Pricing Analyst50,000 PHP+66%
Private Equity Analyst51,700 PHP+72%
Proposal Development Coordinator27,300 PHP-9%
Receivables Accountant29,200 PHP-3%
Regulatory Accountant32,600 PHP+8%
Retirement Plan Analyst50,500 PHP+68%
Revenue Management Specialist51,000 PHP+69%
Revenue Recognition Analyst59,000 PHP+96%
Risk Management Director76,500 PHP+150%
Risk Management Supervisor61,200 PHP+100%
Tax Accountant27,700 PHP-8%
Tax Advisor44,600 PHP+48%
Tax Associate26,700 PHP-11%
Tax Manager61,400 PHP+100%
Teller18,700 PHP-38%
Treasury Accountant32,000 PHP+6%
Treasury Analyst51,000 PHP+69%
Underwriter21,000 PHP-30%
Underwriting Assistant19,200 PHP-36%
Vice President of Finance86,800 PHP+190%

Salary Comparison By City

CityAverage Salary
Antipolo31,500 PHP
Cagayan de Oro30,000 PHP
Cebu32,800 PHP
Dasmarinas27,200 PHP
Davao33,900 PHP
Kalookan33,500 PHP
Las Pinas28,200 PHP
Makati27,600 PHP
Manila34,700 PHP
Paranaque29,400 PHP
Pasig30,900 PHP
Quezon City35,400 PHP
Taguig32,000 PHP
Valenzuela29,000 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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