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Accounting and Finance Average Salaries in Romania 2020

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


Average Monthly Salary
9,120 RON
( 109,000 RON yearly)

LOW
3,740
RON
AVERAGE
9,120
RON
HIGH
18,600
RON

A person working in Accounting and Finance in Romania typically earns around 9,120 RON per month. Salaries range from 3,740 RON (lowest average) to 18,600 RON (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 Examiner4,760 RON
Account Executive7,610 RON
Accountant5,940 RON
Accounting Assistant4,550 RON
Accounting Associate4,320 RON
Accounting Clerk3,710 RON
Accounting Coordinator5,710 RON
Accounting Manager13,400 RON
Accounting Supervisor8,740 RON
Accounting Technician4,450 RON
Accounts Executive7,550 RON
Accounts Payable and Receivable Specialist6,300 RON
Accounts Payable Clerk4,580 RON
Accounts Payable Manager11,900 RON
Accounts Receivable Clerk4,380 RON
Accounts Receivable Manager12,400 RON
Assistant Accounting Manager11,700 RON
Assistant Auditor5,950 RON
Audit Supervisor11,500 RON
Auditing Clerk4,950 RON
Auditing Manager13,300 RON
Billing Coordinator5,530 RON
Billing Specialist6,730 RON
Billing Supervisor9,140 RON
Bookkeeper3,840 RON
Bookkeeping Specialist6,070 RON
Budget Analyst10,900 RON
Budget Manager12,700 RON
Business Support Analyst6,710 RON
Capital Markets Associate9,100 RON
Cash Flow Analyst9,120 RON
Cash Management Officer7,330 RON
Cashbook Clerk3,990 RON
Chartered Accountant7,970 RON
Collections Clerk3,870 RON
Collections Specialist6,310 RON
Corporate Treasurer11,800 RON
Cost Accountant5,990 RON
Cost Accounting Manager12,000 RON
Cost Analyst9,440 RON
Credit and Collection Manager12,300 RON
Credit and Collection Staff4,500 RON
Credit and Loans Officer4,620 RON
Credit Controller8,150 RON
Debt Adviser10,300 RON
Debt Collector4,920 RON
Debtors Clerk4,020 RON
Deputy CFO16,200 RON
Derivative Trader10,900 RON
Escrow Assistant5,470 RON
External Auditor8,750 RON
Finance Associate5,310 RON
Finance Executive13,300 RON
Finance Licensing Clerk4,530 RON
Finance Licensing Manager11,700 RON
Finance Licensing Specialist6,510 RON
Finance Officer5,870 RON
Finance President18,900 RON
Finance Relationship Manager13,700 RON
Finance Release Analyst6,700 RON
Finance Team Leader 14,300 RON
Financial Actuary9,750 RON
Financial Administrator10,000 RON
Financial Analyst10,700 RON
Financial Applications Specialist7,300 RON
Financial Assistant5,090 RON
Financial Associate5,020 RON
Financial Claims Analyst8,260 RON
Financial Claims Manager10,700 RON
Financial Commercial Analyst8,790 RON
Financial Compliance Analyst10,200 RON
Financial Consultant8,370 RON
Financial Controller9,830 RON
Financial Coordinator5,770 RON
Financial Customer Service Manager11,200 RON
Financial Dealer and Broker6,540 RON
Financial Encoder5,060 RON
Financial Manager17,100 RON
Financial Operations Manager14,900 RON
Financial Policy Analyst9,220 RON
Financial Project Manager12,500 RON
Financial Quantitative Analyst10,500 RON
Financial Reporting Consultant9,140 RON
Financial Reporting Manager11,400 RON
Financial Services Sales Agent6,420 RON
Fixed Assets Administrator6,080 RON
Forensic Accountant6,920 RON
Fraud Detection Supervisor7,390 RON
Fraud Prevention Manager12,000 RON
Fund Accountant6,060 RON
Grants Coordinator4,450 RON
Internal Auditor8,170 RON
Internal Control Adviser9,430 RON
Internal Control Officer5,110 RON
Inventory Accountant6,400 RON
Investment Analyst12,000 RON
Investment Fund Manager13,900 RON
Investment Underwriter5,190 RON
Investor7,710 RON
Investor Relations Manager11,700 RON
KYC Team Leader11,500 RON
Management Economist13,600 RON
Paymaster4,910 RON
Payroll Clerk5,530 RON
Payroll Manager11,400 RON
Pensions Administrator6,180 RON
Pricing Analyst10,300 RON
Private Equity Analyst10,900 RON
Proposal Development Coordinator5,190 RON
Receivables Accountant5,800 RON
Regulatory Accountant6,450 RON
Retirement Plan Analyst9,560 RON
Revenue Management Specialist9,710 RON
Revenue Recognition Analyst11,600 RON
Risk Management Director14,800 RON
Risk Management Supervisor11,900 RON
Tax Accountant5,650 RON
Tax Advisor9,570 RON
Tax Associate4,960 RON
Tax Manager12,000 RON
Teller3,710 RON
Treasury Accountant6,390 RON
Treasury Analyst10,500 RON
Underwriter4,250 RON
Underwriting Assistant3,900 RON
Vice President of Finance16,400 RON

Accounting and Finance Jobs Salary Distribution in Romania

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

  • Salary Range

    Accounting and Finance salaries in Romania range from 3,740 RON per month (minimum average salary) to 18,600 RON per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 8,390 RON per month, which means that half (50%) of people working in Accounting and Finance are earning less than 8,390 RON while the other half are earning more than 8,390 RON. 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 5,460 RON while 75% of them are earning more than 5,460 RON. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 12,400 RON while 25% are earning more than 12,400 RON.


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 Romania costs anywhere from 44,900 New Leu(s) to 135,000 New Leu(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 Romania 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 Romania who work in Accounting and Finance earn 7% more than their female counterparts on average.

Female
8,750 RON
Male+7%
9,400 RON
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Romania for all Careers

Salary comparison by gender monthly Romania
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Accounting and Finance Average Annual Salary Increment Percentage in Romania

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

Accounting and Finance

Accounting and Finance professionals in Romania 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 Romania 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.

Romania / 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 Romania is 5%.

Annual Increment Rate By Industry 2019

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

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

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

29% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 71% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
71%
No Bonus
29%

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 Romania
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Where can you get paid more, working for a private company or for the government? Public sector employees in Romania earn 7% more than their private sector counterparts on average across all sectors.

Private Sector
8,760 RON
Public Sector+7%
9,390 RON
Percentage increase and decrease are relative to the previous value

Accounting and Finance Hourly Average Wage in Romania


53 RON per hour

The average hourly wage (pay per hour) in Romania is 53 RON. This means that the average person in Romania earns approximately 53 RON 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 Romania
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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
Brasov8,150 RON
Bucharest9,890 RON
Cluj-Napoca9,100 RON
Sibiu9,570 RON
Timisoara8,560 RON
6821 - 49

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