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Accounting and Finance Average Salaries in Sri Lanka 2022

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


Average Monthly Salary
92,400 LKR
( 1,110,000 LKR yearly)

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 TitleAverage Salary
Account Examiner47,900 LKR
Account Executive85,500 LKR
Accountant67,100 LKR
Accounting Assistant52,700 LKR
Accounting Associate45,400 LKR
Accounting Clerk39,900 LKR
Accounting Coordinator57,500 LKR
Accounting Manager134,000 LKR
Accounting Supervisor87,500 LKR
Accounting Technician47,800 LKR
Accounts Executive81,800 LKR
Accounts Payable and Receivable Specialist69,200 LKR
Accounts Payable Clerk46,900 LKR
Accounts Payable Manager125,000 LKR
Accounts Receivable Clerk47,300 LKR
Accounts Receivable Manager124,000 LKR
Assistant Accounting Manager125,000 LKR
Assistant Auditor64,600 LKR
Audit Supervisor119,000 LKR
Auditing Clerk51,300 LKR
Auditing Manager138,000 LKR
Billing Coordinator58,400 LKR
Billing Specialist69,900 LKR
Billing Supervisor103,000 LKR
Bookkeeper44,400 LKR
Bookkeeping Specialist65,100 LKR
Budget Analyst116,000 LKR
Budget Manager140,000 LKR
Business Support Analyst72,900 LKR
Capital Markets Associate99,200 LKR
Cash Flow Analyst103,000 LKR
Cash Management Officer78,800 LKR
Cashbook Clerk44,500 LKR
Chartered Accountant87,900 LKR
Collections Clerk41,300 LKR
Collections Specialist64,900 LKR
Corporate Treasurer122,000 LKR
Cost Accountant67,200 LKR
Cost Accounting Manager127,000 LKR
Cost Analyst102,000 LKR
Credit and Collection Manager136,000 LKR
Credit and Collection Staff48,700 LKR
Credit and Loans Officer46,600 LKR
Credit Controller91,200 LKR
Debt Adviser106,000 LKR
Debt Collector52,000 LKR
Debtors Clerk44,900 LKR
Deputy CFO187,000 LKR
Derivative Trader109,000 LKR
Escrow Assistant58,000 LKR
External Auditor93,300 LKR
Finance Associate56,100 LKR
Finance Executive141,000 LKR
Finance Licensing Clerk48,500 LKR
Finance Licensing Manager129,000 LKR
Finance Licensing Specialist73,300 LKR
Finance Officer64,400 LKR
Finance President203,000 LKR
Finance Relationship Manager149,000 LKR
Finance Release Analyst77,300 LKR
Finance Team Leader 144,000 LKR
Financial Actuary101,000 LKR
Financial Administrator113,000 LKR
Financial Analyst119,000 LKR
Financial Applications Specialist81,400 LKR
Financial Assistant52,700 LKR
Financial Associate55,200 LKR
Financial Claims Analyst84,500 LKR
Financial Claims Manager112,000 LKR
Financial Commercial Analyst99,200 LKR
Financial Compliance Analyst105,000 LKR
Financial Consultant92,300 LKR
Financial Controller104,000 LKR
Financial Coordinator57,700 LKR
Financial Customer Service Manager119,000 LKR
Financial Dealer and Broker71,300 LKR
Financial Encoder55,000 LKR
Financial Manager176,000 LKR
Financial Manager181,000 LKR
Financial Operations Manager172,000 LKR
Financial Policy Analyst107,000 LKR
Financial Project Manager132,000 LKR
Financial Quantitative Analyst118,000 LKR
Financial Reporting Consultant91,600 LKR
Financial Reporting Manager132,000 LKR
Financial Services Sales Agent69,200 LKR
Fixed Assets Administrator70,100 LKR
Forensic Accountant75,000 LKR
Fraud Detection Supervisor80,400 LKR
Fraud Prevention Manager134,000 LKR
Fund Accountant62,900 LKR
Grants Coordinator46,700 LKR
Internal Auditor89,400 LKR
Internal Control Adviser103,000 LKR
Internal Control Officer57,100 LKR
Inventory Accountant70,100 LKR
Investment Analyst131,000 LKR
Investment Fund Manager148,000 LKR
Investment Underwriter56,800 LKR
Investor89,300 LKR
Investor Relations Manager126,000 LKR
KYC Team Leader133,000 LKR
Management Economist146,000 LKR
Paymaster55,400 LKR
Payroll Clerk59,400 LKR
Payroll Manager125,000 LKR
Pensions Administrator66,500 LKR
Pricing Analyst113,000 LKR
Private Equity Analyst119,000 LKR
Proposal Development Coordinator55,900 LKR
Receivables Accountant62,000 LKR
Regulatory Accountant72,200 LKR
Retirement Plan Analyst104,000 LKR
Revenue Management Specialist109,000 LKR
Revenue Recognition Analyst120,000 LKR
Risk Management Director152,000 LKR
Risk Management Supervisor125,000 LKR
Tax Accountant63,400 LKR
Tax Advisor105,000 LKR
Tax Associate57,200 LKR
Tax Manager130,000 LKR
Teller38,200 LKR
Treasury Accountant68,800 LKR
Treasury Analyst106,000 LKR
Underwriter44,800 LKR
Underwriting Assistant42,300 LKR
Vice President of Finance179,000 LKR

Accounting and Finance Jobs Salary Distribution in Sri Lanka

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

  • Salary Range

    Accounting and Finance salaries in Sri Lanka range from 37,400 LKR per month (minimum average salary) to 186,000 LKR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 94,300 LKR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 94,300 LKR while the other half are earning more than 94,300 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

    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 59,300 LKR while 75% of them are earning more than 59,300 LKR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 143,000 LKR while 25% are earning more than 143,000 LKR.


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 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.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender monthly Sri Lanka 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 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
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Sri Lanka for all Careers

Salary comparison by gender monthly Sri Lanka
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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.

Annual Salary Increment Rate Sri Lanka 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.

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

The average salary increase in one year (12 months) in Sri Lanka is 6%.

Annual Increment Rate By Industry 2021

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 2021. 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 Sri Lanka

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

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 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 Sri Lanka


530 LKR per hour

The 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.


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 Sri Lanka
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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
Colombo109,000 LKR

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
Percentage increase and decrease are relative to the previous value

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