A person working in Accounting and Finance in Belgium typically earns around 6,320 EUR per month. Salaries range from 2,820 EUR (lowest average) to 12,200 EUR (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.
|Job Title||Average Salary|
|Account Examiner||3,590 EUR|
|Account Executive||5,460 EUR|
|Accounting Assistant||3,710 EUR|
|Accounting Associate||3,420 EUR|
|Accounting Clerk||2,930 EUR|
|Accounting Coordinator||4,220 EUR|
|Accounting Manager||8,930 EUR|
|Accounting Supervisor||6,370 EUR|
|Accounting Technician||3,400 EUR|
|Accounts Executive||5,710 EUR|
|Accounts Payable and Receivable Specialist||4,750 EUR|
|Accounts Payable Clerk||3,490 EUR|
|Accounts Payable Manager||8,700 EUR|
|Accounts Receivable Clerk||3,640 EUR|
|Accounts Receivable Manager||8,070 EUR|
|Assistant Accounting Manager||8,410 EUR|
|Assistant Auditor||4,420 EUR|
|Audit Supervisor||7,650 EUR|
|Auditing Clerk||3,540 EUR|
|Auditing Manager||9,420 EUR|
|Billing Coordinator||4,340 EUR|
|Billing Specialist||4,960 EUR|
|Billing Supervisor||6,800 EUR|
|Bookkeeping Specialist||4,460 EUR|
|Budget Analyst||7,910 EUR|
|Budget Manager||8,670 EUR|
|Business Support Analyst||4,930 EUR|
|Capital Markets Associate||6,340 EUR|
|Cash Flow Analyst||6,600 EUR|
|Cash Management Officer||5,350 EUR|
|Cashbook Clerk||3,270 EUR|
|Chartered Accountant||5,440 EUR|
|Collections Clerk||2,940 EUR|
|Collections Specialist||4,460 EUR|
|Corporate Treasurer||7,980 EUR|
|Cost Accountant||4,560 EUR|
|Cost Accounting Manager||8,460 EUR|
|Cost Analyst||7,020 EUR|
|Credit and Collection Manager||8,410 EUR|
|Credit and Collection Staff||3,730 EUR|
|Credit and Loans Officer||3,510 EUR|
|Credit Controller||5,970 EUR|
|Debt Adviser||7,100 EUR|
|Debt Collector||3,770 EUR|
|Debtors Clerk||3,260 EUR|
|Deputy CFO||11,900 EUR|
|Derivative Trader||7,820 EUR|
|Escrow Assistant||3,980 EUR|
|External Auditor||6,010 EUR|
|Finance Associate||4,230 EUR|
|Finance Executive||8,870 EUR|
|Finance Licensing Clerk||3,540 EUR|
|Finance Licensing Manager||7,930 EUR|
|Finance Licensing Specialist||4,790 EUR|
|Finance Officer||4,180 EUR|
|Finance President||12,400 EUR|
|Finance Relationship Manager||9,490 EUR|
|Finance Release Analyst||5,320 EUR|
|Finance Team Leader||9,840 EUR|
|Financial Actuary||6,710 EUR|
|Financial Administrator||7,570 EUR|
|Financial Analyst||8,070 EUR|
|Financial Applications Specialist||5,830 EUR|
|Financial Assistant||3,630 EUR|
|Financial Associate||3,920 EUR|
|Financial Claims Analyst||5,860 EUR|
|Financial Claims Manager||7,770 EUR|
|Financial Commercial Analyst||6,450 EUR|
|Financial Compliance Analyst||6,820 EUR|
|Financial Consultant||5,690 EUR|
|Financial Controller||6,880 EUR|
|Financial Coordinator||4,320 EUR|
|Financial Customer Service Manager||7,690 EUR|
|Financial Dealer and Broker||4,930 EUR|
|Financial Encoder||4,030 EUR|
|Financial Manager||12,000 EUR|
|Financial Manager||11,400 EUR|
|Financial Operations Manager||10,700 EUR|
|Financial Policy Analyst||6,690 EUR|
|Financial Project Manager||8,760 EUR|
|Financial Quantitative Analyst||7,220 EUR|
|Financial Reporting Consultant||6,320 EUR|
|Financial Reporting Manager||8,150 EUR|
|Financial Services Sales Agent||5,000 EUR|
|Fixed Assets Administrator||4,640 EUR|
|Forensic Accountant||5,010 EUR|
|Fraud Detection Supervisor||5,440 EUR|
|Fraud Prevention Manager||8,900 EUR|
|Fund Accountant||4,510 EUR|
|Grants Coordinator||3,500 EUR|
|Internal Auditor||5,880 EUR|
|Internal Control Adviser||6,820 EUR|
|Internal Control Officer||4,070 EUR|
|Inventory Accountant||4,520 EUR|
|Investment Analyst||8,320 EUR|
|Investment Fund Manager||9,780 EUR|
|Investment Underwriter||4,100 EUR|
|Investor Relations Manager||8,760 EUR|
|KYC Team Leader||8,650 EUR|
|Management Economist||10,100 EUR|
|Payroll Clerk||4,110 EUR|
|Payroll Manager||8,270 EUR|
|Pensions Administrator||4,830 EUR|
|Pricing Analyst||7,540 EUR|
|Private Equity Analyst||7,780 EUR|
|Proposal Development Coordinator||4,130 EUR|
|Receivables Accountant||4,400 EUR|
|Regulatory Accountant||5,070 EUR|
|Retirement Plan Analyst||6,910 EUR|
|Revenue Management Specialist||7,320 EUR|
|Revenue Recognition Analyst||8,000 EUR|
|Risk Management Director||10,800 EUR|
|Risk Management Supervisor||8,270 EUR|
|Tax Accountant||4,380 EUR|
|Tax Advisor||6,440 EUR|
|Tax Associate||4,070 EUR|
|Tax Manager||8,710 EUR|
|Treasury Accountant||4,730 EUR|
|Treasury Analyst||6,950 EUR|
|Underwriting Assistant||3,170 EUR|
|Vice President of Finance||11,600 EUR|
Accounting and Finance salaries in Belgium range from 2,820 EUR per month (minimum average salary) to 12,200 EUR per month (maximum average salary, actual maximum is higher).
The median salary is 6,070 EUR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 6,070 EUR while the other half are earning more than 6,070 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 people working in Accounting and Finance are earning less than 4,000 EUR while 75% of them are earning more than 4,000 EUR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 8,790 EUR while 25% are earning more than 8,790 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 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.
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.
A Master's degree program or any post-graduate program in Belgium costs anywhere from 30,700 Euro(s) to 92,200 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 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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Belgium who work in Accounting and Finance earn 6% more than their female counterparts on average.
Accounting and Finance professionals in Belgium are likely to observe a salary increase of approximately 10% every 15 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 2020. 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.
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 6% to 8% 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.
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 Accounting and Finance is 3% more than that of All Jobs.
|Brugge (Bruges)||6,330 EUR|
|Gent (Ghent)||7,180 EUR|
Where can you get paid more, working for a private company or for the government? Public sector employees in Belgium earn 5% more than their private sector counterparts on average across all sectors.