Accounting and Finance Average Salaries in Zimbabwe 2023
How much money does a person working in Accounting and Finance make in Zimbabwe?
LOW
90,300
ZWD AVERAGE
223,000
ZWD HIGH
448,000
ZWD
A person working in Accounting and Finance in Zimbabwe typically earns around 223,000 ZWD. Salaries range from 90,300 ZWD (lowest average) to 448,000 ZWD (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 Zimbabwe 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
| Job Title | Average Salary |
| Account Examiner | 117,000 ZWD |
| Account Executive | 201,000 ZWD |
| Accountant | 144,000 ZWD |
| Accounting Assistant | 118,000 ZWD |
| Accounting Associate | 107,000 ZWD |
| Accounting Clerk | 92,600 ZWD |
| Accounting Coordinator | 140,000 ZWD |
| Accounting Manager | 323,000 ZWD |
| Accounting Supervisor | 201,000 ZWD |
| Accounting Technician | 110,000 ZWD |
| Accounts Executive | 192,000 ZWD |
| Accounts Payable and Receivable Specialist | 150,000 ZWD |
| Accounts Payable Clerk | 118,000 ZWD |
| Accounts Payable Manager | 296,000 ZWD |
| Accounts Receivable Clerk | 116,000 ZWD |
| Accounts Receivable Manager | 287,000 ZWD |
| Assistant Accounting Manager | 273,000 ZWD |
| Assistant Auditor | 159,000 ZWD |
| Audit Supervisor | 274,000 ZWD |
| Auditing Clerk | 118,000 ZWD |
| Auditing Manager | 303,000 ZWD |
| Billing Coordinator | 138,000 ZWD |
| Billing Specialist | 169,000 ZWD |
| Billing Supervisor | 229,000 ZWD |
| Bookkeeper | 103,000 ZWD |
| Bookkeeping Specialist | 150,000 ZWD |
| Budget Analyst | 254,000 ZWD |
| Budget Manager | 318,000 ZWD |
| Business Support Analyst | 180,000 ZWD |
| Capital Markets Associate | 234,000 ZWD |
| Cash Flow Analyst | 220,000 ZWD |
| Cash Management Officer | 182,000 ZWD |
| Cashbook Clerk | 104,000 ZWD |
| Chartered Accountant | 191,000 ZWD |
| Collections Clerk | 94,800 ZWD |
| Collections Specialist | 155,000 ZWD |
| Corporate Treasurer | 291,000 ZWD |
| Cost Accountant | 150,000 ZWD |
| Cost Accounting Manager | 316,000 ZWD |
| Cost Analyst | 239,000 ZWD |
| Credit and Collection Manager | 308,000 ZWD |
| Credit and Collection Staff | 120,000 ZWD |
| Credit and Loans Officer | 113,000 ZWD |
| Credit Controller | 202,000 ZWD |
| Debt Adviser | 255,000 ZWD |
| Debt Collector | 117,000 ZWD |
| Debtors Clerk | 104,000 ZWD |
| Deputy CFO | 417,000 ZWD |
| Derivative Trader | 251,000 ZWD |
| Escrow Assistant | 138,000 ZWD |
| External Auditor | 213,000 ZWD |
| Finance Associate | 133,000 ZWD |
| Finance Executive | 323,000 ZWD |
| Finance Licensing Clerk | 106,000 ZWD |
| Finance Licensing Manager | 292,000 ZWD |
| Finance Licensing Specialist | 173,000 ZWD |
| Finance Officer | 146,000 ZWD |
| Finance President | 447,000 ZWD |
| Finance Relationship Manager | 366,000 ZWD |
| Finance Release Analyst | 180,000 ZWD |
| Finance Team Leader | 350,000 ZWD |
| Financial Actuary | 234,000 ZWD |
| Financial Administrator | 254,000 ZWD |
| Financial Analyst | 279,000 ZWD |
| Financial Applications Specialist | 199,000 ZWD |
| Financial Assistant | 121,000 ZWD |
| Financial Associate | 120,000 ZWD |
| Financial Claims Analyst | 211,000 ZWD |
| Financial Claims Manager | 264,000 ZWD |
| Financial Commercial Analyst | 213,000 ZWD |
| Financial Compliance Analyst | 242,000 ZWD |
| Financial Consultant | 201,000 ZWD |
| Financial Controller | 249,000 ZWD |
| Financial Coordinator | 146,000 ZWD |
| Financial Customer Service Manager | 283,000 ZWD |
| Financial Dealer and Broker | 160,000 ZWD |
| Financial Encoder | 129,000 ZWD |
| Financial Manager | 408,000 ZWD |
| Financial Operations Manager | 380,000 ZWD |
| Financial Policy Analyst | 227,000 ZWD |
| Financial Project Manager | 328,000 ZWD |
| Financial Quantitative Analyst | 267,000 ZWD |
| Financial Reporting Consultant | 222,000 ZWD |
| Financial Reporting Manager | 280,000 ZWD |
| Financial Services Sales Agent | 169,000 ZWD |
| Fixed Assets Administrator | 155,000 ZWD |
| Forensic Accountant | 185,000 ZWD |
| Fraud Detection Supervisor | 180,000 ZWD |
| Fraud Prevention Manager | 311,000 ZWD |
| Fund Accountant | 152,000 ZWD |
| Grants Coordinator | 110,000 ZWD |
| Internal Auditor | 212,000 ZWD |
| Internal Control Adviser | 230,000 ZWD |
| Internal Control Officer | 133,000 ZWD |
| Inventory Accountant | 159,000 ZWD |
| Investment Analyst | 310,000 ZWD |
| Investment Fund Manager | 356,000 ZWD |
| Investment Underwriter | 128,000 ZWD |
| Investor | 190,000 ZWD |
| Investor Relations Manager | 309,000 ZWD |
| KYC Team Leader | 298,000 ZWD |
| Management Economist | 357,000 ZWD |
| Paymaster | 119,000 ZWD |
| Payroll Clerk | 137,000 ZWD |
| Payroll Manager | 271,000 ZWD |
| Pensions Administrator | 162,000 ZWD |
| Pricing Analyst | 246,000 ZWD |
| Private Equity Analyst | 285,000 ZWD |
| Proposal Development Coordinator | 136,000 ZWD |
| Receivables Accountant | 135,000 ZWD |
| Regulatory Accountant | 169,000 ZWD |
| Retirement Plan Analyst | 233,000 ZWD |
| Revenue Management Specialist | 253,000 ZWD |
| Revenue Recognition Analyst | 288,000 ZWD |
| Risk Management Director | 362,000 ZWD |
| Risk Management Supervisor | 311,000 ZWD |
| Tax Accountant | 142,000 ZWD |
| Tax Advisor | 230,000 ZWD |
| Tax Associate | 133,000 ZWD |
| Tax Manager | 303,000 ZWD |
| Teller | 87,100 ZWD |
| Treasury Accountant | 160,000 ZWD |
| Treasury Analyst | 245,000 ZWD |
| Underwriter | 111,000 ZWD |
| Underwriting Assistant | 99,000 ZWD |
| Vice President of Finance | 400,000 ZWD |
Accounting and Finance Jobs Pay Scale and Salaries in Zimbabwe
Salary Structure and Pay Scale Comparison
243,000 ZWD or more
206,000 to 243,000 ZWD
124,000 ZWD or less
124,000 to 206,000 ZWD
 90,300 ZWD |
211,000 ZWD |
448,000 ZWD |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries in Accounting and Finance in Zimbabwe range from 90,300 ZWD (starting average salary) to 448,000 ZWD (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 211,000 ZWD, implying that half of the workforce in Zimbabwe 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 Zimbabwe earn less than 166,000 ZWD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 256,000 ZWD, 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 Zimbabwe. The analysis revealed that roughly 65% of all reported salaries fell within the range of 124,000 ZWD to 206,000 ZWD. Approximately 20% of salaries were below the 124,000 ZWD mark, while 10% ranged from 206,000 ZWD to 243,000 ZWD. Only 5% of individuals earned a gross salary of 243,000 ZWD or higher.
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 in Accounting and Finance in Zimbabwe 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 degree levels across many jobs in Accounting and Finance in Zimbabwe, 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 Zimbabwe costs anywhere from 1,080,000 ZWD to 3,250,000 ZWD 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 / Zimbabwe
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 Zimbabwe, the average difference between the salary of male and female employees is 13%.
| Male | 237,000 ZWD | |
| Female | -11% | 210,000 ZWD |
Salary Comparison By Gender in Zimbabwe for all Careers
Average Annual Salary Increment Percentage / Accounting and Finance / Zimbabwe
How much are annual salary increments in Zimbabwe for individuals working in Accounting and Finance? How often do employees get salary raises?
Professionals working in Accounting and Finance in Zimbabwe are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
Zimbabwe / All Professions
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
Annual Increment Rate By Industry 2022
| Banking | 9% | |
| Energy | 9% | |
| Information Technology | 9% | |
| Healthcare | 9% | |
| Travel | 9% | |
| Construction | 9% | |
| Education | 9% |
Listed above are the average annual increase rates for each industry in Zimbabwe 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.
Bonus and Incentive Rates / Accounting and Finance / Zimbabwe
How much and how often are bonuses being awarded?
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36% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 64% 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 | 64% | |
| No Bonus | 36% |
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.
Salary Forecast and Trend / Accounting and Finance / Zimbabwe
How are salaries changing over time? Listed below is a chart that shows the average salary in recent years.
| Average Salary 2019 | 193,000 ZWD | |
| Average Salary 2020 | +4% | 200,000 ZWD |
| Average Salary 2021 | +4% | 208,000 ZWD |
| Average Salary 2022 | +4% | 215,000 ZWD |
Salaries for individuals working in Accounting and Finance in Zimbabwe are rising in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
Hourly Average Wage / Accounting and Finance / Zimbabwe
1,290 ZWD per hourThe average hourly wage (pay per hour) in Accounting and Finance in Zimbabwe is 1,290 ZWD.This is the rate they get paid 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 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 Zimbabwe is 520 ZWD. 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
Salary Comparison By City
| City | Average Salary |
| Bulawayo | 225,000 ZWD |
| Harare | 236,000 ZWD |
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 Zimbabwe is 25% on average across all career fields.
| Private Sector | 193,000 ZWD | |
| Public Sector | +25% | 241,000 ZWD |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary in Accounting and Finance in Zimbabwe?
A good and competitive compensation would range anywhere between 211,000 ZWD and 256,000 ZWD. 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 Zimbabwe ranges from 166,000 ZWD to 256,000 ZWD. 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
