A person working as an Internal Auditor in Belgium typically earns around 6,340 EUR per month. Salaries range from 3,110 EUR (lowest) to 9,890 EUR (highest).
This is the average monthly salary including housing, transport, and other benefits. Internal Auditor salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Internal Auditor salaries in Belgium range from 3,110 EUR per month (minimum salary) to 9,890 EUR per month (maximum salary).
The median salary is 6,470 EUR per month, which means that half (50%) of people working as Internal Auditor(s) are earning less than 6,470 EUR while the other half are earning more than 6,470 EUR. 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.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Internal Auditor(s) are earning less than 4,310 EUR while 75% of them are earning more than 4,310 EUR. Also from the diagram, 75% of Internal Auditor(s) are earning less than 8,340 EUR while 25% are earning more than 8,340 EUR.
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
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 Internal Auditor salaries by experience level and this is what we found.
An Internal Auditor with less than two years of experience makes approximately 3,680 EUR per month.
While someone with an experience level between two and five years is expected to earn 4,730 EUR per month, 29% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 6,530 EUR per month, 38% more than someone with two to five years of experience.
Additionally, Internal Auditor(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 8,090 EUR per month, 24% 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 8,670 EUR per month, 7% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 9,250 EUR per month, 7% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+29%|
|5 - 10 Years||+38%|
|10 - 15 Years||+24%|
|15 - 20 Years||+7%|
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 Internal Auditor salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary of an Internal Auditor is 4,730 EUR per month.
While someone with a Bachelor's Degree gets a salary of 6,360 EUR per month, 34% more than someone having a Certificate or Diploma degree.
A Master's Degree gets its holder an average salary of 9,750 EUR per month, 53% more than someone with a Bachelor's Degree.
|Certificate or Diploma|
A Master's degree program or any post-graduate program in Belgium costs anywhere from 31,000 Euro(s) to 92,900 Euro(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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Internal Auditor employees in Belgium earn 7% more than their female counterparts.
Internal Auditor(s) in Belgium 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 17 months.
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.
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
Listed above are the average annual increase rates for each industry in Belgium 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.
An Internal Auditor 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 3% to 6% of their annual salary.
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.
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.
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.
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.
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.
Where can you get paid more, working for a private company or for the government? Public sector Internal Auditor employees in Belgium earn 5% more than their private sector counterparts.
|Average Salary 2016|
|Average Salary 2017||+4%|
|Average Salary 2018||+3%|
|Average Salary 2019||+2%|
Internal Auditor salaries in Belgium are on the rise in the year 2020 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2019 are 2% 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.
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.
The average salary for Internal Auditor is 5% more than that of Accounting and Finance. Also, Accounting and Finance salaries are 3% less than those of All Jobs.
|Job Title||Average Salary|
|Account Examiner||4,120 EUR||-35%|
|Account Executive||5,730 EUR||-10%|
|Accounting Assistant||4,370 EUR||-31%|
|Accounting Associate||4,370 EUR||-31%|
|Accounting Clerk||3,340 EUR||-47%|
|Accounting Coordinator||3,740 EUR||-41%|
|Accounting Manager||7,870 EUR||+24%|
|Accounting Supervisor||6,140 EUR||-3%|
|Accounting Technician||4,090 EUR||-35%|
|Accounts Executive||5,420 EUR||-14%|
|Accounts Payable and Receivable Specialist||5,150 EUR||-19%|
|Accounts Payable Clerk||3,420 EUR||-46%|
|Accounts Payable Manager||6,590 EUR||+4%|
|Accounts Receivable Clerk||3,790 EUR||-40%|
|Accounts Receivable Manager||6,560 EUR||+3%|
|Assistant Accounting Manager||5,580 EUR||-12%|
|Assistant Auditor||4,600 EUR||-27%|
|Audit Supervisor||7,780 EUR||+23%|
|Auditing Clerk||4,150 EUR||-35%|
|Auditing Manager||8,840 EUR||+39%|
|Billing Coordinator||5,350 EUR||-16%|
|Billing Specialist||5,110 EUR||-19%|
|Billing Supervisor||6,030 EUR||-5%|
|Bookkeeping Specialist||4,610 EUR||-27%|
|Budget Analyst||5,450 EUR||-14%|
|Budget Manager||7,150 EUR||+13%|
|Business Support Analyst||5,520 EUR||-13%|
|Capital Markets Associate||6,190 EUR||-2%|
|Cash Flow Analyst||6,230 EUR||-2%|
|Cash Management Officer||6,120 EUR||-3%|
|Cashbook Clerk||4,120 EUR||-35%|
|Chartered Accountant||5,230 EUR||-17%|
|Collections Clerk||3,380 EUR||-47%|
|Collections Specialist||4,140 EUR||-35%|
|Corporate Treasurer||10,200 EUR||+61%|
|Cost Accountant||5,140 EUR||-19%|
|Cost Accounting Manager||6,510 EUR||+3%|
|Cost Analyst||6,290 EUR||-1%|
|Credit and Collection Manager||6,940 EUR||+9%|
|Credit and Collection Staff||3,860 EUR||-39%|
|Credit and Loans Officer||3,820 EUR||-40%|
|Credit Controller||5,830 EUR||-8%|
|Debt Adviser||7,410 EUR||+17%|
|Debt Collector||5,470 EUR||-14%|
|Debtors Clerk||4,630 EUR||-27%|
|Deputy CFO||10,600 EUR||+67%|
|Derivative Trader||8,870 EUR||+40%|
|Escrow Assistant||4,930 EUR||-22%|
|External Auditor||6,130 EUR||-3%|
|Finance Associate||5,130 EUR||-19%|
|Finance Executive||9,580 EUR||+51%|
|Finance Licensing Clerk||4,230 EUR||-33%|
|Finance Licensing Manager||5,990 EUR||-6%|
|Finance Licensing Specialist||4,920 EUR||-22%|
|Finance Officer||6,680 EUR||+5%|
|Finance President||11,900 EUR||+88%|
|Finance Relationship Manager||8,050 EUR||+27%|
|Finance Release Analyst||6,010 EUR||-5%|
|Finance Team Leader||6,790 EUR||+7%|
|Financial Actuary||6,170 EUR||-3%|
|Financial Administrator||5,630 EUR||-11%|
|Financial Analyst||6,650 EUR||+5%|
|Financial Applications Specialist||4,560 EUR||-28%|
|Financial Assistant||3,870 EUR||-39%|
|Financial Associate||4,930 EUR||-22%|
|Financial Claims Analyst||5,770 EUR||-9%|
|Financial Claims Manager||6,620 EUR||+4%|
|Financial Commercial Analyst||5,530 EUR||-13%|
|Financial Compliance Analyst||6,100 EUR||-4%|
|Financial Consultant||5,650 EUR||-11%|
|Financial Controller||5,810 EUR||-8%|
|Financial Coordinator||5,520 EUR||-13%|
|Financial Customer Service Manager||7,110 EUR||+12%|
|Financial Dealer and Broker||5,640 EUR||-11%|
|Financial Encoder||3,800 EUR||-40%|
|Financial Manager||11,600 EUR||+83%|
|Financial Operations Manager||8,570 EUR||+35%|
|Financial Policy Analyst||6,080 EUR||-4%|
|Financial Project Manager||5,870 EUR||-7%|
|Financial Quantitative Analyst||6,510 EUR||+3%|
|Financial Reporting Consultant||6,060 EUR||-4%|
|Financial Reporting Manager||7,290 EUR||+15%|
|Financial Services Sales Agent||5,700 EUR||-10%|
|Fixed Assets Administrator||5,010 EUR||-21%|
|Forensic Accountant||4,730 EUR||-25%|
|Fraud Detection Supervisor||5,760 EUR||-9%|
|Fraud Prevention Manager||8,740 EUR||+38%|
|Fund Accountant||4,810 EUR||-24%|
|Grants Coordinator||4,160 EUR||-34%|
|Internal Auditor||6,340 EUR||+0%|
|Internal Control Adviser||6,410 EUR||+1%|
|Internal Control Officer||5,590 EUR||-12%|
|Inventory Accountant||9,110 EUR||+44%|
|Investment Analyst||7,640 EUR||+21%|
|Investment Fund Manager||8,370 EUR||+32%|
|Investment Underwriter||4,100 EUR||-35%|
|Investor Relations Manager||7,740 EUR||+22%|
|KYC Team Leader||7,590 EUR||+20%|
|Management Economist||6,940 EUR||+9%|
|Payroll Clerk||3,940 EUR||-38%|
|Payroll Manager||6,520 EUR||+3%|
|Pensions Administrator||4,970 EUR||-22%|
|Pricing Analyst||7,040 EUR||+11%|
|Private Equity Analyst||6,890 EUR||+9%|
|Proposal Development Coordinator||4,900 EUR||-23%|
|Receivables Accountant||4,460 EUR||-30%|
|Regulatory Accountant||5,090 EUR||-20%|
|Retirement Plan Analyst||6,260 EUR||-1%|
|Revenue Management Specialist||5,440 EUR||-14%|
|Revenue Recognition Analyst||7,830 EUR||+24%|
|Risk Management Director||9,960 EUR||+57%|
|Risk Management Supervisor||7,170 EUR||+13%|
|Tax Accountant||4,640 EUR||-27%|
|Tax Advisor||5,860 EUR||-8%|
|Tax Associate||5,040 EUR||-20%|
|Tax Manager||8,690 EUR||+37%|
|Treasury Accountant||4,860 EUR||-23%|
|Treasury Analyst||6,280 EUR||-1%|
|Underwriting Assistant||3,590 EUR||-43%|
|Vice President of Finance||8,630 EUR||+36%|
|Brugge (Bruges)||6,320 EUR|
|Gent (Ghent)||7,200 EUR|