How much money does a person working in Accounting and Finance make in Madrid?
Average Monthly Salary
3,300 EUR
( 39,600 EUR yearly)
LOW
1,460
EUR
AVERAGE
3,300
EUR
HIGH
6,340
EUR
All salary figures displayed here are per month except when noted otherwise.
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 salary after tax for every career.
A person working in Accounting and Finance in Madrid typically earns around 3,300 EUR. Salaries range from 1,460 EUR (lowest average) to 6,340 EUR (highest average, actual maximum salary is higher).
Salary Variance
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in Madrid exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
Salaries for specific jobs
Accounting and Finance | |
Account Examiner | 1,730 EUR |
Account Executive | 2,930 EUR |
Accountant | 2,250 EUR |
Accounting Analyst | 2,790 EUR |
|
Accounting Assistant | 1,750 EUR |
Accounting Associate | 1,680 EUR |
Accounting Clerk | 1,450 EUR |
Accounting Coordinator | 2,030 EUR |
Accounting Head | 4,510 EUR |
Accounting Manager | 4,630 EUR |
Accounting Officer | 1,720 EUR |
Accounting Specialist | 2,850 EUR |
Accounting Supervisor | 3,120 EUR |
Accounting Technician | 1,710 EUR |
Accounting Unit Controller | 3,590 EUR |
Accounts Executive | 2,900 EUR |
Accounts Officer | 1,860 EUR |
Accounts Payable and Receivable Specialist | 2,400 EUR |
Accounts Payable Assistant | 1,830 EUR |
Accounts Payable Associate | 2,000 EUR |
Accounts Payable Clerk | 1,710 EUR |
Accounts Payable Manager | 4,040 EUR |
Accounts Receivable Administrator | 3,350 EUR |
Accounts Receivable Clerk | 1,770 EUR |
Accounts Receivable Financial Analyst | 2,930 EUR |
Accounts Receivable Manager | 4,120 EUR |
Accounts Receivable Team Leader | 3,110 EUR |
Algorithmic Trading Specialist | 3,970 EUR |
Assistant Accountant | 1,790 EUR |
Assistant Accounting Manager | 3,890 EUR |
Assistant Auditor | 2,340 EUR |
Assistant Corporate Controller | 3,060 EUR |
Assistant Finance Manager | 4,430 EUR |
Assistant Financial Controller | 2,860 EUR |
Audit Director | 4,910 EUR |
Audit Supervisor | 4,030 EUR |
Auditing Clerk | 1,860 EUR |
Auditing Manager | 4,410 EUR |
Billing Clerk | 1,860 EUR |
Billing Coordinator | 2,110 EUR |
Billing Specialist | 2,460 EUR |
Billing Supervisor | 3,300 EUR |
Bookkeeper | 1,500 EUR |
Bookkeeping Specialist | 2,240 EUR |
Budget Analyst | 3,820 EUR |
Budget Manager | 4,380 EUR |
Business Support Analyst | 2,610 EUR |
Capital Markets Associate | 3,310 EUR |
Cash Flow Analyst | 3,160 EUR |
Cash Management Manager | 4,350 EUR |
Cash Management Officer | 2,540 EUR |
Cashbook Clerk | 1,550 EUR |
Chartered Accountant | 2,700 EUR |
Chief Accountant | 3,220 EUR |
Chief Financial Technology Officer | 4,380 EUR |
Collections Clerk | 1,500 EUR |
Collections Representative | 1,980 EUR |
Collections Specialist | 2,290 EUR |
Corporate Controller | 3,450 EUR |
Corporate Treasurer | 4,090 EUR |
Cost Accountant | 2,350 EUR |
Cost Accounting Manager | 4,100 EUR |
Cost Accounting Supervisor | 3,640 EUR |
Cost Analyst | 3,560 EUR |
Credit and Collection Manager | 4,250 EUR |
Credit and Collection Staff | 1,820 EUR |
Credit and Loans Officer | 1,690 EUR |
Credit Controller | 2,950 EUR |
Credit Manager | 4,290 EUR |
Debt Adviser | 3,430 EUR |
Debt Collector | 1,910 EUR |
Debtors Clerk | 1,640 EUR |
Debtors Controller | 1,720 EUR |
Deputy CFO | 5,950 EUR |
Deputy Head of Finance | 5,560 EUR |
Derivative Trader | 3,830 EUR |
Director of Finance | 6,240 EUR |
E-commerce Accountant | 2,370 EUR |
Economist | 4,920 EUR |
Equity Analyst | 3,920 EUR |
Escrow Assistant | 2,100 EUR |
Executive Accountant | 2,610 EUR |
External Auditor | 2,940 EUR |
Finance Administrator | 2,610 EUR |
Finance Analyst | 3,920 EUR |
Finance Associate | 1,940 EUR |
Finance Data Analyst | 3,400 EUR |
Finance Director | 6,460 EUR |
Finance Executive | 4,350 EUR |
Finance Licensing Clerk | 1,640 EUR |
Finance Licensing Manager | 4,250 EUR |
Finance Licensing Specialist | 2,430 EUR |
Finance Manager | 5,950 EUR |
Finance Officer | 2,240 EUR |
Finance President | 6,490 EUR |
Finance Relationship Manager | 4,830 EUR |
Finance Release Analyst | 2,450 EUR |
Finance Specialist | 3,490 EUR |
Finance Team Leader | 4,740 EUR |
Financial Accountant | 2,230 EUR |
Financial Actuary | 3,470 EUR |
Financial Administrator | 3,630 EUR |
Financial Advisor | 4,070 EUR |
Financial Analyst | 3,990 EUR |
Financial Applications Specialist | 2,650 EUR |
Financial Assistant | 1,910 EUR |
Financial Associate | 1,870 EUR |
Financial Associate | 2,180 EUR |
Financial Claims Analyst | 3,050 EUR |
Financial Claims Manager | 3,830 EUR |
Financial Claims Supervisor | 3,450 EUR |
Financial Clerk | 1,780 EUR |
Financial Commercial Analyst | 3,220 EUR |
Financial Compliance Analyst | 3,580 EUR |
Financial Compliance Officer | 3,570 EUR |
Financial Consultant | 2,830 EUR |
Financial Controller | 3,430 EUR |
Financial Controller | 3,410 EUR |
Financial Coordinator | 2,030 EUR |
Financial Customer Service Manager | 4,060 EUR |
Financial Data Scientist | 4,020 EUR |
Financial Dealer and Broker | 2,320 EUR |
Financial Director | 6,490 EUR |
Financial Encoder | 1,930 EUR |
Financial Manager | 5,640 EUR |
Financial Manager | 6,050 EUR |
Financial Modelling Analyst | 3,760 EUR |
Financial Operations Manager | 5,450 EUR |
Financial Policy Analyst | 3,500 EUR |
Financial Project Manager | 4,250 EUR |
Financial Quantitative Analyst | 3,600 EUR |
Financial Reporting Consultant | 3,090 EUR |
Financial Reporting Manager | 4,260 EUR |
Financial Section Head | 4,280 EUR |
Financial Services Manager | 5,340 EUR |
Financial Services Sales Agent | 2,480 EUR |
Financial Technology Consultant | 3,550 EUR |
Financial Wellness Coach | 4,410 EUR |
FinTech Analyst | 3,620 EUR |
Fixed Assets Administrator | 2,360 EUR |
Forensic Accountant | 2,550 EUR |
Fraud Detection Supervisor | 2,720 EUR |
Fraud Prevention Manager | 4,210 EUR |
Fund Accountant | 2,240 EUR |
Grants Coordinator | 1,730 EUR |
Green Finance Analyst | 3,280 EUR |
Group Financial Manager | 5,830 EUR |
Internal Auditor | 3,020 EUR |
Internal Control Adviser | 3,410 EUR |
Internal Control Officer | 1,920 EUR |
International Tax Director | 5,310 EUR |
Inventory Accountant | 2,420 EUR |
Investment Advisor | 5,650 EUR |
Investment Analyst | 4,090 EUR |
Investment Associate | 3,780 EUR |
Investment Broker | 3,750 EUR |
Investment Fund Manager | 4,790 EUR |
Investment Operations Manager | 4,750 EUR |
Investment Underwriter | 1,900 EUR |
Investor | 2,960 EUR |
Investor Relations Manager | 4,340 EUR |
KYC Team Leader | 4,090 EUR |
Loan Processor | 1,930 EUR |
Management Accountant | 2,410 EUR |
Management Economist | 4,980 EUR |
Paymaster | 1,900 EUR |
Payroll Administrator | 2,810 EUR |
Payroll Benefits Coordinator | 2,520 EUR |
Payroll Billing Manager | 3,880 EUR |
Payroll Clerk | 2,060 EUR |
Payroll Manager | 3,940 EUR |
Payroll Officer | 1,900 EUR |
Payroll Specialist | 2,390 EUR |
Payroll Supervisor | 2,730 EUR |
Pensions Administrator | 2,390 EUR |
Personal Financial Advisor | 3,400 EUR |
Pricing Analyst | 3,600 EUR |
Private Equity Analyst | 3,770 EUR |
Project Accountant | 2,350 EUR |
Proposal Development Coordinator | 2,040 EUR |
Quantitative Trader | 3,200 EUR |
Receivables Accountant | 2,030 EUR |
Regulatory Accountant | 2,510 EUR |
Retirement Plan Analyst | 3,450 EUR |
Revenue Management Specialist | 3,460 EUR |
Revenue Recognition Analyst | 4,030 EUR |
Risk Management Director | 5,290 EUR |
Risk Management Supervisor | 4,250 EUR |
Staff Accountant | 2,260 EUR |
Tax Accountant | 2,130 EUR |
Tax Administrator | 2,410 EUR |
Tax Advisor | 3,200 EUR |
Tax Analyst | 3,420 EUR |
Tax Associate | 1,870 EUR |
Tax Consultant | 3,440 EUR |
Tax Director | 4,740 EUR |
Tax Examiner | 2,350 EUR |
Tax Manager | 4,240 EUR |
Tax Research Manager | 4,530 EUR |
Teller | 1,440 EUR |
Treasury Accountant | 2,340 EUR |
Treasury Analyst | 3,550 EUR |
Underwriter | 1,590 EUR |
Underwriting Assistant | 1,610 EUR |
Vice President of Finance | 5,780 EUR |
Accounting and Finance Jobs Pay Scale and Salaries in Madrid
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/madrid/accounting-and-finance/median-and-salary-distribution-monthly-madrid-accounting-and-finance.jpg Salary Structure and Pay Scale Comparison
5% of people earn
3,420 EUR or more
10% of people earn
2,930 to 3,420 EUR
20% of people earn
1,850 EUR or less
65% of people earn
1,850 to 2,930 EUR
Minimum Salary 1,460 EUR |
Median 3,020 EUR |
Maximum 6,340 EUR |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
All salary figures displayed here are per month except when noted otherwise.
Salary Range, Minimum Wage, and Starting Salary
Salaries in Accounting and Finance in Madrid range from 1,460 EUR (starting average salary) to 6,340 EUR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
Median Salary
The median income in the field of Accounting and Finance is 3,020 EUR, implying that half of the workforce in Madrid earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Percentiles and Salary Scale
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in Madrid earn less than 2,420 EUR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 3,600 EUR, while 25% earn more than that.
Pay Scale Structure
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in Madrid. The analysis revealed that roughly 65% of all reported salaries fell within the range of 1,850 EUR to 2,930 EUR. Approximately 20% of salaries were below the 1,850 EUR mark, while 10% ranged from 2,930 EUR to 3,420 EUR. Only 5% of individuals earned a gross salary of 3,420 EUR or higher.
Salary Comparison by Years of Experience
How does a person's salary progress over time?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-by-experience.jpg 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 in Accounting and Finance in Madrid 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.
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.
“ On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark. ”
Salary Comparison By Education
How does the education level affect your salary?
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-comparison-by-education.jpg 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.
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 degree levels across many jobs in Accounting and Finance in Madrid, 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 certificate 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 Spain costs anywhere from 13,600 EUR to 40,900 EUR and lasts approximately two years. That is quite an investment.
Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Salary and Compensation Comparison By Gender / Accounting and Finance / Madrid
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/accounting-and-finance/salary-comparison-by-gender-monthly-spain-accounting-and-finance.jpg Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Accounting and Finance in Spain, the average difference between the salary of male and female employees is 5%.
Male | | 2,880 EUR |
Female | -5% | 2,730 EUR |
Percentage increase and decrease are relative to the previous value
Salary Comparison By Gender in Spain for all Careers
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/salary-comparison-by-gender-monthly-spain.jpg
Average Annual Salary Increment Percentage / Accounting and Finance / Madrid
How much are annual salary increments in Madrid for individuals working in Accounting and Finance? How often do employees get salary raises?
Professionals working in Accounting and Finance in Spain are likely to observe a salary increase of approximately % every months. The national average annual increment for all professions combined is 8% granted to employees every 17 months.
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/accounting-and-finance/annual-salary-increment-rate-spain-accounting-and-finance.jpg 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.
Spain / All Professions
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/annual-salary-increment-rate-spain.jpg The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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 Spain is 6%.”
Worldwide Salary Raises: All Countries and All Jobs
Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/images/salary-increment-world.jpg 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.
Bonus and Incentive Rates / Accounting and Finance / Spain
How much and how often are bonuses being awarded?Share This Chart Get Chart Linkhttp://www.salaryexplorer.com/charts/spain/accounting-and-finance/annual-salary-bonus-rate-spain-accounting-and-finance.jpg
100% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while % said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from % to % of their annual salary.
Received Bonus | | % |
No Bonus | | 100% |
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: 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.
Hourly Average Wage / Accounting and Finance / Madrid
19 EUR
per hour The average hourly wage (pay per hour) in Accounting and Finance in Madrid is 19 EUR.This is the rate they get paid for every worked hour.
Hourly Wage = Annual Salary / ( 52 x 5 x 8 )
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 fixed 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?
The minimum pay rate per hour for people working in Accounting and Finance in Madrid is 8 EUR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary Comparison By City
Barcelona | 3,240 EUR |
Bilbao | 2,780 EUR |
Las Palmas | 2,840 EUR |
Madrid | 3,300 EUR |
Malaga | 3,010 EUR |
Murcia | 2,960 EUR |
Palma de Mallorca | 2,900 EUR |
Sevilla | 3,130 EUR |
Valencia | 3,190 EUR |
Zaragoza | 3,070 EUR |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Spain is 5% on average across all career fields.
Private Sector | | 2,660 EUR |
Public Sector | +5% | 2,780 EUR |
Percentage increase and decrease are relative to the previous value
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Accounting and Finance in Madrid?
A good and competitive compensation would range anywhere between 3,020 EUR and 3,600 EUR. This is a very rough estimate. Experience and education play a very huge part in the 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 salary after tax for every career.
Base / Basic Salary
The base salary for jobs in Accounting and Finance in Madrid ranges from 1,460 EUR to 2,420 EUR. 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 with 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 the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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