Accounting and Finance Average Salaries in Sri Lanka 2023
How much money does a person working in Accounting and Finance make in Sri Lanka?
LOW
37,400
LKR AVERAGE
92,400
LKR HIGH
186,000
LKR
A person working in Accounting and Finance in Sri Lanka typically earns around 92,400 LKR per month. Salaries range from 37,400 LKR (lowest average) to 186,000 LKR (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 | 47,900 LKR |
| Account Executive | 85,500 LKR |
| Accountant | 67,100 LKR |
| Accounting Assistant | 52,700 LKR |
| Accounting Associate | 45,400 LKR |
| Accounting Clerk | 39,900 LKR |
| Accounting Coordinator | 57,500 LKR |
| Accounting Manager | 134,000 LKR |
| Accounting Supervisor | 87,500 LKR |
| Accounting Technician | 47,800 LKR |
| Accounts Executive | 81,800 LKR |
| Accounts Payable and Receivable Specialist | 69,200 LKR |
| Accounts Payable Clerk | 46,900 LKR |
| Accounts Payable Manager | 125,000 LKR |
| Accounts Receivable Clerk | 47,300 LKR |
| Accounts Receivable Manager | 124,000 LKR |
| Assistant Accounting Manager | 125,000 LKR |
| Assistant Auditor | 64,600 LKR |
| Audit Supervisor | 119,000 LKR |
| Auditing Clerk | 51,300 LKR |
| Auditing Manager | 138,000 LKR |
| Billing Coordinator | 58,400 LKR |
| Billing Specialist | 69,900 LKR |
| Billing Supervisor | 103,000 LKR |
| Bookkeeper | 44,400 LKR |
| Bookkeeping Specialist | 65,100 LKR |
| Budget Analyst | 116,000 LKR |
| Budget Manager | 140,000 LKR |
| Business Support Analyst | 72,900 LKR |
| Capital Markets Associate | 99,200 LKR |
| Cash Flow Analyst | 103,000 LKR |
| Cash Management Officer | 78,800 LKR |
| Cashbook Clerk | 44,500 LKR |
| Chartered Accountant | 87,900 LKR |
| Collections Clerk | 41,300 LKR |
| Collections Specialist | 64,900 LKR |
| Corporate Treasurer | 122,000 LKR |
| Cost Accountant | 67,200 LKR |
| Cost Accounting Manager | 127,000 LKR |
| Cost Analyst | 102,000 LKR |
| Credit and Collection Manager | 136,000 LKR |
| Credit and Collection Staff | 48,700 LKR |
| Credit and Loans Officer | 46,600 LKR |
| Credit Controller | 91,200 LKR |
| Debt Adviser | 106,000 LKR |
| Debt Collector | 52,000 LKR |
| Debtors Clerk | 44,900 LKR |
| Deputy CFO | 187,000 LKR |
| Derivative Trader | 109,000 LKR |
| Escrow Assistant | 58,000 LKR |
| External Auditor | 93,300 LKR |
| Finance Associate | 56,100 LKR |
| Finance Executive | 141,000 LKR |
| Finance Licensing Clerk | 48,500 LKR |
| Finance Licensing Manager | 129,000 LKR |
| Finance Licensing Specialist | 73,300 LKR |
| Finance Officer | 64,400 LKR |
| Finance President | 203,000 LKR |
| Finance Relationship Manager | 149,000 LKR |
| Finance Release Analyst | 77,300 LKR |
| Finance Team Leader | 144,000 LKR |
| Financial Actuary | 101,000 LKR |
| Financial Administrator | 113,000 LKR |
| Financial Analyst | 119,000 LKR |
| Financial Applications Specialist | 81,400 LKR |
| Financial Assistant | 52,700 LKR |
| Financial Associate | 55,200 LKR |
| Financial Claims Analyst | 84,500 LKR |
| Financial Claims Manager | 112,000 LKR |
| Financial Commercial Analyst | 99,200 LKR |
| Financial Compliance Analyst | 105,000 LKR |
| Financial Consultant | 92,300 LKR |
| Financial Controller | 104,000 LKR |
| Financial Coordinator | 57,700 LKR |
| Financial Customer Service Manager | 119,000 LKR |
| Financial Dealer and Broker | 71,300 LKR |
| Financial Encoder | 55,000 LKR |
| Financial Manager | 176,000 LKR |
| Financial Manager | 181,000 LKR |
| Financial Operations Manager | 172,000 LKR |
| Financial Policy Analyst | 107,000 LKR |
| Financial Project Manager | 132,000 LKR |
| Financial Quantitative Analyst | 118,000 LKR |
| Financial Reporting Consultant | 91,600 LKR |
| Financial Reporting Manager | 132,000 LKR |
| Financial Services Sales Agent | 69,200 LKR |
| Fixed Assets Administrator | 70,100 LKR |
| Forensic Accountant | 75,000 LKR |
| Fraud Detection Supervisor | 80,400 LKR |
| Fraud Prevention Manager | 134,000 LKR |
| Fund Accountant | 62,900 LKR |
| Grants Coordinator | 46,700 LKR |
| Internal Auditor | 89,400 LKR |
| Internal Control Adviser | 103,000 LKR |
| Internal Control Officer | 57,100 LKR |
| Inventory Accountant | 70,100 LKR |
| Investment Analyst | 131,000 LKR |
| Investment Fund Manager | 148,000 LKR |
| Investment Underwriter | 56,800 LKR |
| Investor | 89,300 LKR |
| Investor Relations Manager | 126,000 LKR |
| KYC Team Leader | 133,000 LKR |
| Management Economist | 146,000 LKR |
| Paymaster | 55,400 LKR |
| Payroll Clerk | 59,400 LKR |
| Payroll Manager | 125,000 LKR |
| Pensions Administrator | 66,500 LKR |
| Pricing Analyst | 113,000 LKR |
| Private Equity Analyst | 119,000 LKR |
| Proposal Development Coordinator | 55,900 LKR |
| Receivables Accountant | 62,000 LKR |
| Regulatory Accountant | 72,200 LKR |
| Retirement Plan Analyst | 104,000 LKR |
| Revenue Management Specialist | 109,000 LKR |
| Revenue Recognition Analyst | 120,000 LKR |
| Risk Management Director | 152,000 LKR |
| Risk Management Supervisor | 125,000 LKR |
| Tax Accountant | 63,400 LKR |
| Tax Advisor | 105,000 LKR |
| Tax Associate | 57,200 LKR |
| Tax Manager | 130,000 LKR |
| Teller | 38,200 LKR |
| Treasury Accountant | 68,800 LKR |
| Treasury Analyst | 106,000 LKR |
| Underwriter | 44,800 LKR |
| Underwriting Assistant | 42,300 LKR |
| Vice President of Finance | 179,000 LKR |
Accounting and Finance Jobs Pay Scale and Salaries in Sri Lanka
Salary Structure and Pay Scale Comparison
97,700 LKR or more
82,700 to 97,700 LKR
49,700 LKR or less
49,700 to 82,700 LKR
 37,400 LKR |
85,000 LKR |
186,000 LKR |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Accounting and Finance salaries in Sri Lanka range from 37,400 LKR per month (starting average salary) to 186,000 LKR per month (maximum average salary, actual maximum is higher). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
Median Salary
The median salary is 85,000 LKR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 85,000 LKR while the other half are earning more than 85,000 LKR. 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 and Salary Scale
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 66,700 LKR while 75% of them are earning more than 66,700 LKR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 103,000 LKR while 25% are earning more than 103,000 LKR.
Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 49,700 LKR to 82,700 LKR. Approximatly 20% fall under the 49,700 LKR cap. Ten percent of wages are from 82,700 LKR to 97,700 LKR. Only 5% of people grossed 97,700 LKR or more.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
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.
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.
Salary Comparison By Education
How does the education level affect your salary?
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.
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 Sri Lanka costs anywhere from 449,000 Sri Lanka Rupee(s) to 1,350,000 Sri Lanka Rupee(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.
Salary and Compensation Comparison By Gender - Accounting and Finance
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Sri Lanka who work in Accounting and Finance earn 10% more than their female counterparts on average.
| Male | 96,100 LKR | |
| Female | -9% | 87,000 LKR |
Salary Comparison By Gender in Sri Lanka for all Careers
Accounting and Finance Average Annual Salary Increment Percentage in Sri Lanka
How much are annual salary increments in Sri Lanka for Accounting and Finance professionals? How often do employees get salary raises?
Accounting and Finance
Accounting and Finance professionals in Sri Lanka are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 17 months.
Sri Lanka / 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
Annual Increment Rate By Industry 2022
| Banking | 6% | |
| Energy | 3% | |
| Information Technology | 9% | |
| Healthcare | 6% | |
| Travel | 3% | |
| Construction | 9% | |
| Education | 6% |
Listed above are the average annual increase rates for each industry in Sri Lanka for the year 2022. 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
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Accounting and Finance Bonus and Incentive Rates in Sri Lanka
How much and how often are bonuses being awarded?
Share This Chart Tweet Get Chart Linkhttp://www.salaryexplorer.com/charts/sri-lanka/accounting-and-finance/annual-salary-bonus-rate-sri-lanka-accounting-and-finance.jpg
Accounting and Finance is considered to be a high bonus-based field. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
23% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 77% 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 | 77% | |
| No Bonus | 23% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, 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 BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese 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: | Example: |
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.
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 Salary Forecast and Trend in Sri Lanka
How do Accounting and Finance salaries change over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 82,100 LKR | |
| Average Salary 2020 | +4% | 85,100 LKR |
| Average Salary 2021 | +3% | 87,500 LKR |
| Average Salary 2022 | +2% | 89,100 LKR |
Accounting and Finance salaries in Sri Lanka are rising in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 2% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
Accounting and Finance Hourly Average Wage in Sri Lanka
530 LKR per hourThe average hourly wage (pay per hour) in Sri Lanka is 530 LKR. This means that the average person in Sri Lanka earns approximately 530 LKR for every worked hour.
About The Hourly Pay Rate
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.
What is the minimum hourly rate of pay?
This minimum pay rate per hour for a person in Sri Lanka is 220 LKR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Accounting and Finance VS Other Jobs
The average salary for Accounting and Finance is 3% more than that of All Jobs.
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 Sri Lanka earn 8% more than their private sector counterparts on average across all sectors.
| Private Sector | 86,000 LKR | |
| Public Sector | +8% | 92,500 LKR |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for Accounting and Finance in Sri Lanka?
A good and competitive compensation would range anywhere between 85,000 LKR and 103,000 LKR. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.
Base / Basic Salary
The base salary for Accounting and Finance in Sri Lanka is ranges from 66,700 LKR to 103,000 LKR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range in a grain of salt.
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
